Are You Selling Your Home in 2022?
2021 is almost over and 2022 is just around the corner. Many homeowners are planning to move next year, so it’s important for home sellers to be prepared for what’s to come. If you are in a rush to sell because of financial concerns or other reasons, you may have fewer home selling options to consider. You may want to sell for cash or research other seller financing options to achieve the best possible results given your specific situation.
If you have time and aren’t in so much of a rush, you will want to take advantage of that time by preparing your house—and yourself—for the home sale. Here are some steps we recommend for those planning to sell in the near future:
Get the House Ready
There are many things you can do to improve the resale value of your house before you put it on the market. Make the necessary repairs and fix important things that could potentially turn off buyers. Think about making some upgrades. Consider these investments in the property that will increase its value in today’s market. Add a fresh coat of paint inside. Have the house deep-cleaned, declutter and also don’t forget the exterior of the home. “Curb appeal” is very important when selling. You want your house to look good from the outside. The lawn should look healthy, there shouldn’t be a bunch of junk lying around and you may want to repaint (or at least properly clean) the exterior.
Get Yourself Ready
Selling a house and moving to a new home can be an emotional experience for you and your family. Sometimes, emotional issues can get in the way of important financial decisions. This is why it helps to have a plan mapped out before selling your house. First, know where plan to move. Are you relocating to a new area? Are you moving up into a bigger house? Are you downsizing to a smaller, more affordable placer?
Also, think about the overall timing as part of your plan. It can be extremely complex to go through both the home buying and selling processes at the same time. You probably want to minimize the overlap between mortgages and other homeownership expenses. However, that may not be easy. These contingencies can make both transactions complicated and can lead to delays if anything happens to one transaction or the other. You may want to consider selling and then renting for awhile as you search for your new home with cash in hand. Or, you can buy your new house before listing your current house. This will be more expensive with overlapping expenses, but less stressful in the sense that you are already moved out of the house you are selling and into your new home.
Talk to Real Estate Agents
If you don’t already have a real estate agent you trust, now is the time to start interviewing them. Don’t be afraid to ask tough questions and make them earn your business. Consult with a few agents before deciding on one. Find someone you feel comfortable working with and who you feel confident will help you make the right real estate decisions. Even if you are a few months away from moving, a good real estate agent will help you get better prepared and understand everything you need to do to get your house ready for sale. If you are buying a new house as part of your move, you may also want to talk with your mortgage lender about your options and interest rates.
Why Are You Moving?
This is ultimately one of the most important questions you should ask yourself. As we mentioned in the beginning, the move may come down to want vs. need. If you “want” to move up into a bigger home or move for other reasons, then take the time to maximize the house’s resale value, hire a Realtor® and make other strategic decisions. If you are in more of a rush and “need” to sell soon, you may want to look into a cash home sale or something else that will help you get out from under the financial burden of your home while you can.
PropertyLark can help you explore all your home selling options. If you are selling your house in 2022, contact us today and we’ll get you moving in the right direction!