Biggest mistakes people make when selling their home
Avoid these to move without the stress!
Moving to a new home is a significant decision that requires careful consideration, as it often involves the largest asset a person will own in their lifetime.
According to a survey, 61% of people consider moving to be the most stressful life event, ranking it even higher than divorce or the loss of a loved one. With our extensive experience in this area, we’ve collaborated to create a guide that identifies the biggest mistakes that can make selling a home more complicated and stressful than it needs to be. Here’s a sneak peek...
Not getting appropriate financial advice
We recommend speaking with a mortgage broker as your first step in the home-buying process. They can help determine how much you can borrow and guide you through factors that affect your loan eligibility, such as your employment status, credit cards, existing loans, car payments, nursery fees, and income from other investments.
Discussing your finances with a broker can provide clarity and confidence as you explore properties you’re interested in. Mortgage brokers are on your side and know which lenders are more favourable to your situation. Unlike banks, which only offer their own rates, brokers compare rates from multiple lenders to find the best option for you, saving you the hassle of visiting multiple banks.
Trying to find before you’ve sold
Many people start searching for homes online without deciding if they really want to move. Soon, they may find themselves interested in several properties and schedule multiple viewings. This can lead to two disappointing outcomes:
• You fall in love with a house and make an offer, but because you’re not in a position to proceed, someone else gets it.
• You make an offer that’s accepted, but feel rushed to sell your current home, often leading to underselling. The market is full of ready buyers, like first-time buyers, cash buyers, renters, and those who have already sold their homes. These buyers are in a stronger position than someone who hasn’t yet sold their property. To compete, you would need to offer significantly more than these buyers. The ideal approach is to:
• Invite a local estate agent to value your property and discuss marketing strategies.
• Get suggestions to improve its saleability. Once your property is on the market, monitor the interest level and consult your agent for guidance on selling timelines. This will allow you to approach viewings with confidence, knowing your offer will be taken seriously.
To read our full guide on the biggest mistakes people make when selling a home and how to avoid them, click here.
Contact us anytime with your questions by calling us on 0113 873 0087, sending an email to hello@fowlerandpowell.co.uk, or just pop by the office next time you’re in the area! You’re always welcome.
Prefer a downloadable version?
Click the button to open and download this SmartMag as a PDF