Your First Home Sale can be a wild experience. You’re dealing with a whole lot of money and a very valuable property, so you need to be careful. Here are a few things that you might want to look out for as you carry out your first home sale.
What to Expect During Your First Home Sale: How Long it Takes
You never really know how long a sale might take. It’s going to depend a lot on how the market is at the current moment – globally, nationally, and locally. On the other hand, you might have the perfect buyer swoop in on day one. You never really know what you’re going to get. On average, though, it usually takes at least two or three months to sell a house. This also will change depending on whether or not you have an agent. Regardless, you need to be prepared to not receive money for your home for around that amount of time. Be as proactive as possible when it comes to seeking out buyers.
The Costs of Selling
Ironically, selling is going to cost a good amount of money as well. You’re probably going to want to use an agent, first of all – and real estate agents typically collect a 6% commission for a home sale, along with any other fees they might charge you. You’re going to have to pour money and time into preparing the house itself. This might include repairs and upgrades, to utilities, appliances, and cosmetics that make the home more appealing to buyers. Consider hiring crews to clean or renovate if your house is in a level of disrepair that could seriously inconvenience you.
What to Expect During Your First Home Sale: Reasonable Compromise
Most buyers will want to negotiate a little bit. That’s okay! Try and set a price in your original listing that is low enough to attract buyers but high enough to leave some wiggle room for negotiation. Not only with the price but with circumstance, you might find yourself in less-than-ideal situations. For example, the wintertime is a slower period for sellers. You might have to wait longer than the average waiting time if you happen to list your home at a slow moment.
As intimidating as home sales can be, you should be excited! You’re gaining valuable experience in a market that will come in handy later in life. You’re starting another chapter and moving on. If you take the time and money beforehand to carefully prepare to sell your house properly, you should have nothing to worry about.
Check out this article on real estate situations that are becoming more common these days!
Steelbridge Realty LLC is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.