How Do I Cope With Selling My First Home???
Just like when you bought your first house, selling that first house is also a significant milestone! And just like when you bought your first house you were filled with lots of stresses and then joy when you closed, selling your first house can also have a lot of stresses with it and joy when the house is sold, and you have moved on to the next chapter in your life!
As someone who has worked with many first-time home buyers, then turned around and helped them sell their first home, I understand how stressful it was - I was also at one time a first-time home buyer, turned first time home seller! Selling your home means a move to your next chapter and it can feel very overwhelming! And then add in all the results you get when you do a google search - it can be a hair pulling session of where to start next!
So, before you actually list your home for sale, let's talk about the things that you are probably thinking about that are causing you stress right now!
STRESS #1 - WHAT IS THE PROCESS FOR SELLING MY HOME!
Selling a home is a whole different experience from buying one! When you bought your home, you visited properties, your Buyer Agent helped with the offer, you did inspections, secured financing, and closed the deal—typically within 30 to 60 days. You didn’t have to worry about what the seller went through to prepare and sell their home. So, yes, selling is a different process. And if it’s been a while since you bought your home, the process may have changed as well. The first step is to understand what the selling process looks like now. Talking to agents, as well as friends, family, or neighbors who have recently sold, can give you some insights. But a good Realtor will provide you with the most up-to-date and accurate information. Just knowing what to expect can make the entire experience much less stressful!
STRESS #2 - ARE YOU READY TO SELL YOUR HOME?
Ask yourself why you're selling your home. If it’s due to a job relocation, you might not have a choice but to sell. If it’s because your family situation has changed—like outgrowing your home with kids, wanting to downsize, or moving from living solo to a couple—those are all good reasons to sell. Whatever the reason, make sure you're truly ready to move forward. Being clear on your decision can help reduce a lot of the stress that comes with selling your home!
STRESS #3 - HOW DO I BUY A HOME WHILE ALSO SELLING THIS HOME?
For most buyers, the equity in their current home is key to moving on to their next home. You can make your offer contingent on selling your current home, but what if the seller doesn’t accept that contingency? In that case, talking to a lender is a smart move. Explore your financing options—can you handle two mortgages at once? Could you recast your mortgage after your current home sells? Another option is to move into a short-term rental while your house is on the market and then buy a new home after you’ve closed on your current one. There are different paths you can take, and when you meet with your Realtor, that’s the perfect time to discuss which options will work best for you and your family!
STRESS #4 - HOW DO I SELL IT FOR THE MOST MONEY I CAN?
For most buyers looking to move from their current home to their next, getting the highest possible price is a top priority. However, if you're in a slower real estate market, selling quickly, even at a slightly lower price, can sometimes be worth it. When pricing your home, it’s crucial to understand the market—not just in Richmond overall, but specifically in your neighborhood. Different areas, school districts, and counties within Richmond can have vastly different market conditions. Start by objectively reviewing recently sold homes in your area. Look beyond just the price—consider how long the homes were on the market, what they sold for, whether the seller offered concessions, and how these homes compare to yours in terms of size, bedrooms, bathrooms, location, and condition. Next, check out pending sales, as they indicate what buyers are currently willing to pay in your area. Active listings show you the competition, and expired listings reveal what hasn’t sold and why. Taking all of this into account will help you price your home to attract buyers and maximize your sale!
STRESS #5 - HOW DO I FIND THE RIGHT REALTOR?
If you had a great Realtor when you bought your home, you might want to work with them again for the sale. But what if that Realtor is no longer in the business or you just didn’t click with them? Then it's time to find someone new! Start by asking family, friends, and colleagues for recommendations. Find out who they used and whether they’d work with that Realtor again. Once you have some names, set up appointments to meet them and see if you feel comfortable working together. Another option is to visit open houses in your area and chat with the Realtors hosting them. You can also stop by local real estate offices to talk to agents and get a feel for who might be the right fit for you. It’s a good idea to talk to more than one Realtor before deciding. Ultimately, it’s about finding someone you trust to help with the sale of your home. While commissions are negotiable, don’t base your decision solely on the fee. Make sure you understand what the Realtor plans to do to help sell your home!
STRESS #6 - HOW DO I MAKE SURE I PICK THE RIGHT OFFER?
Once you list your home, you might receive multiple offers if you're in a strong seller's market, or you could just get one. Offers may come quickly, or it might take some time to receive one that meets your expectations. When reviewing offers, don't just focus on the highest price—consider the terms as well. Offers with fewer contingencies often lead to smoother transactions. Be sure to evaluate the buyer's financing and even have a conversation with their lender to get a clearer picture. Sometimes, buyers include personal letters expressing why they love your home. While these can be touching, it's important to base your decision on more than just the emotional appeal. Look at the full picture to choose the best offer for you!
STRESS #7 - HOW DO I PREPARE MY HOME FOR SALE?
Think back to when you bought your first home-first impressions were everything, right? That's why it's crucial to make sure your house is dressed to impress even before you list it! Start by going through your home room by room and looking at your home through the eyes of a buyer - what needs to be done to get each room into its best possible shape! Use post it notes to mark each area that needs attention and remove them once you've made the improvements! Many sellers choose to do a prelisting home inspection and tackle any repairs beforehand! This can prevent surprises during a buyer's inspection and be a strong selling point if you share the report and repair receipts with potential buyers! Decluttering is also key. You want buyers to imagine their family-and their things- in your home. Since you're moving, consider packing away items you don't need right now. And anything you no longer need this is the perfect time to donate or discard. Don't forget to neutralize your space as well. If you have bold personalized decor, it might be time to depersonalize. Sometimes, bringing in a professional stager can help as well!
STRESS #8 - WHAT IF MY HOUSE DOESN'T SELL?
Every house will sell-if it's priced right for the condition and location! Pricing is key, but so is feedback from other agents who have shown the house. If your home is getting lots of showings but no offers, or very few showings, that's a signal from the market that something may be off! Getting feedback from agents can provide valuable insights into why your home isn't getting offers. You might also consider having your agent's office do a "caravan" tour of the home to get even more feedback! Be sure to understand your agent's marketing plan, and make sure your home looks it's best online, as this is where most buyers start their search!
STRESS #9 - HOW DO I SEL MY HOME WITH MY FUR BABIES?
As a fellow pet owner, I know how challenging it can be to sell your house with your furry friends around! If you have dogs, consider taking them to a doggie daycare or taking them for a walk while potential buyers are visiting. Cats can be a bit trickier, but your Realtor can offer helpful suggestions for handling showings with pets! Here are a few tips:
- Be sure to clean up any pet waste and dispose of it properly, especially on hot summer days when odors can be stronger!
- Fill in any holes your dog may have dug in the back yard!
- Keep the litter box clean - sometimes twice a day is best!
- Try to minimize signs of pets in the house!
STRESS #10 - HOW DO I KEEP THE HOUSE CLEAN WHILE LISTED?
Keeping your house clean and tidy for showings can be tricky, especially with kids and pets! To make things easier, try setting up a daily and weekly cleaning routine! Focus on those high traffic areas, such as kitchen, baths and living spaces. Keep cleaning supplies handy for quick touchups and use baskets or storage bins to store everyday items out of sight during showings. Before you leave the house each day, do a quick sweep to ensure everything looks ready for last minute showings!
Finally, the day has come that you have done everything you can to get your home ready to list - but before you do, invite a friend over who you think can give you an honest, truthful evaluation of your home! Make sure they will give you honest feedback on everything they see and smell! Remember, this is now a BUSINESS transaction - your HOME is now a HOUSE! Detach yourself from your home! The memories will always remain with you, no matter where you live! Some of my first time home sellers have gone through the house, room by room, taken pictures and videos to remember their first home, and have said goodbye! In the midst of what could be a showing storm, embrace the calm and look forward to the next chapter of your life!
As always, feel free to get in touch should you have questions on anything having to do with buying or selling a house in the Richmond area!
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