If one of the goals on your list is selling your house in 2024 and making a move, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.
A great way to balance those emotions and ensure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.
1. Price Your Home Right
The housing market shifted in 2023 as mortgage rates rose and home price appreciation stabilized again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today.
Hannah Jones, Economic Research Analyst for Realtor.com, explains:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
If you price your house too high, you risk deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate broker can help determine your ideal asking price so your house moves quickly and for top dollar.
2. Keep Your Emotions in Check
Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below):
This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space.
If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you.
Every room has memories, and it’s hard to detach from the sentimental value.
For some homeowners, that makes it even tougher to separate the emotional value of the house from the fair market price. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy.
Trust the professionals who have your best interests in mind!
3. Stage Your Home Properly
While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same about your vibe.
That’s why it’s so important to focus on your home’s first impression so it appeals to as many buyers as possible.
Buyers want to be able to picture themselves in the home. They must see themselves inside with their furniture and keepsakes – not your pictures and decorations.
As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:
“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
A real estate professional can help you with expertise in getting your house ready to sell.
If you’re considering selling your house this year, let’s connect with real estate agents in Chicago, Illinois, so you have help navigating the process while prioritizing these must-do’s.