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Not only do you have to deal with the stress of buying a new home, but you are also dealing with the stress of selling your current home too! Your finances will be stretched throughout the moving process, so it’s imperative then that you take heed of the mistakes we mention in this article. You see, not only will you alleviate the pressure to your bank balance, but you will alleviate your stress level as well!
Mistake #1: Fast-tracking the sale of your home
Here’s the thing when it comes to finding a buyer for your home. It can take time! This is frustrating, especially when you need to make a quick sale, and/or have another house to move into. However, you can fast-track the process by selling your home at an auction or using a buying company to sell your home for cash, but there are pros and cons to both options. The biggest con being that you might not get value for money. If you want to sell your home quickly, we recommend you read The Advisory guide to selling your house, as they succinctly detail your options. Otherwise, be patient, and wait until you get the best deal possible.
Mistake #2: Not adding value to your property
You want to get as much money as possible for your home, right? Therefore, you do need to find ways to add value to your property. This begins by making all of the necessary repairs that need doing, as well as adding a splash of paint here and there to make your home look presentable. There are all kinds of other ways to add value, such as adding an extension and installing eco-friendly features. By doing so, you will feel justified in raising your asking price, as home buyers may well favour your home over the competition.
Mistake #3: Putting your home up for sale at the wrong time
According to the advice given here, the best time to sell your home is between March and June., and the worst time to sell your home is during the winter months. You can find out why in the linked article. By choosing the optimal time of year, you are more likely to a) make a quicker sale, and b) get value for money. You also need to factor in the state of the housing market, as if house prices are generally low, you might want to wait until the housing market picks up again. There are a number of factors that come into play here, and you can read this article to find out more. You should also speak to an estate agent for further advice, as they should be in the qualified position to guide you further.
Mistake #4: Not living frugally before moving
If you are selling your home, now is the time to start living frugally. You need to put money aside for a) anything you are doing to add value to your property, and b) to pay your selling and moving costs, including agent fees. Implementing wisdom across your home, you should look for ways to eat well on a budget and cut out any unnecessary expenses, such as subscriptions that you rarely use. The more you save at this stage, the more money you will have at your disposal after making the move.
Moving is stressful, and moving is expensive. But if you heed the mistakes we have mentioned, and commit to further research on how best to sell your home, you will reduce the pressures that are surrounding you, both personally and financially. Let us know what you think, and if you have any other tips that you think will be helpful to our readers, please share your wisdom with us.