Make a Smart Home Selling Plan in 5 Steps
You know that you will be selling your home. You have a pretty good idea of what it will take to get it sold but need a solid selling plan. Whether you are looking at downsizing in five years after the kids leave the nest or upsizing next year because one is joining, these steps will ensure that you are on the road to a smooth selling strategy. As an added bonus, even if you change your mind or your timeline, you will have a “new” home that is organized, refreshed, and beautiful!
The first step should be a systematic editing of your stuff. Keep your future home in mind. If you are downsizing, make sure you have a realistic idea of what can fit comfortably into your future space. HGTV has 6 Tips for Downsizing to get you started. If you are upsizing, determine what will still work versus what may not fit into a bigger floor plan.
Start with your large items, like furniture, and work your way down to smaller items. Tag items as keep, sell, or donate. If you are undecided on an item, box it up so that you can move on. Pick a future date and mark it on the box. If you have not opened it before that date, you do not need it! Donate the box on that date!
Use a critical eye and assess your home through the eyes of potential buyers. Make a list of anything that jumps out at you, whether it is a large repair or a small one. Go through every part of your home, including attics and basements, and include your home’s exterior.
After you have your complete list, rate the items from most important to least important. If you think you need to call in a professional, plan on tackling those items first so that you have enough time to budget and research businesses. Bob Vila’s 5 Signs It’s Time to Call In a Professional is a great resource if you are on the fence as to whether it is a DIY repair or not. You do not want to be pushed to make a large repair at the last minute.
Put on your “interior designer” personality and have some fun reimagining your space. Remember that you are looking for universal appeal if you are refreshing a space to sell. You may want to consider replacing bold color choices with trending neutrals.
Think about improvements that will make your house seem more open, like plank flooring throughout the main floor. You can do a lot by simply rearranging furniture or rotating art to different rooms for more cohesion. It’s not always necessary to call in an interior designer. The internet is packed full of great articles like Get Top Price for Your Home by Decorating It to Sell by The Spruce.
Look at all aspects of your budget. When projecting any potential profit from selling, it is important to have a handle on what you owe on your current home. Along with that, list any current debt that will need to be paid out of your proceeds if it is not paid off, like a Home Equity Line of Credit or potentially grants/relief assistance acquired during the COVID disaster.
Whether you are downsizing or upsizing, know what you need for your new home. Include any cash down, closing costs, debt payoffs, and money you will need for improvements or repairs to sell your current home. Remember to also include moving expenses.
Finally, make a timeline to sell. Whether it is months or years, start now and identify key dates. Start with when you want to have your first home edit completed. Next, target a date for completion of any repairs and improvements. Set a goal date for meeting with your Realtor® and putting your home on the market.
Make some key decisions as you set your timeline. Do you need to sell before you buy? Is there a certain time of year that works best for you? Are you flexible or do you have dates that cannot be moved? These are important questions to answer. You will avoid a lot of stress by being prepared.
When you’re ready to meet , I’ll be ready to sell your home! Let’s chat today to get the ball rolling!