Once you’ve made the decision to sell your home, it can be difficult thinking about anything other than doing just that — especially when you’ve learned about their home’s current estimated value through a professional home evaluation. However, putting the blinders on and focusing solely on completing the sale of your home isn’t always the most effective selling strategy.
Whether you’re armed with an accurate idea of what price you might be able to receive for your property or not, many homeowners with ambitions to sell their homes often fall into the trap of rushing the sales process, which can be very detrimental to your overall outcome.
To learn more about why rushing your home sale can prove to be extremely costly and what the benefits of being patient with your selling timeline can include, here are a few reasons why you might want to wait to list your home for sale.
Do you want to know what your home’s current market value is? Get an accurate estimate from a market expert, sign up for a free Home Evaluation here.
More Time To Prepare
Perhaps the most important reason you might want to wait before selling your home is to ensure that you give yourself enough time to properly prepare it before listing it on the market. Although some sellers opt to list their home for sale ‘as-is,’ we strongly recommend you take the time to bring your home up to its highest possible standard before starting the listing process.
In fact, statistics prove that homes that are properly prepared pre-listing result in quicker, more lucrative sales than those that aren’t.
What do we mean by properly prepared? Read through our Before You Sell page here to find out about all of the preparatory practices we regularly facilitate for our selling clients to bring their homes up to standard and earn them the highest returns.
Even minor tasks like painting, decluttering, staging, and addressing any small-yet-necessary home improvement projects can substantially increase the overall sales price of your home — and they don’t often require a very long wait on your end either. All of these smaller, more superficial preparations are usually completed within a couple of weeks, which ends up feeling quite insignificant in the long run when these preparations result in a much larger sales price.
At Sidorova Inwood, we always request our selling clients allow enough time for us to implement a comprehensive preparation strategy before listing their home on the market. Doing so typically results in a much higher chance of them receiving the most compensation possible for their home as well as completing their sale over a much shorter timeline.
Not sure where to start when it comes to preparing your home for sale? We can help with that. All you need to do is Book A Free Seller’s Consultation here and we’ll show you what we have in mind for your home.
Addressing Larger Repairs
While smaller-scale home improvements and repairs do generally result in higher sales prices, the most lucrative ROI sellers can receive for their listing is to complete larger, more transformative projects before selling their homes.
Although tackling a job like installing a new roof, building a new deck, or upgrading dated or damaged home systems and appliances sounds expensive, complicated, and taxing, these are the types of projects that tend to drive up the overall sales price of a home the most.
Not only will these projects add tons of amazing value to your home’s market worth, but you won’t have to worry about any of your home’s shortcomings appearing as red flags on a mandatory home inspection report before your firm sale.
Should any notable deficiencies in your home feature in a home inspection report, the estimated cost to fix them could be taken into consideration when potential buyers submit their offers for your listing, which would most likely be deducted from your original asking price. By addressing these deficiencies head-on from the get-go, you’ll be increasing the value of your home while simultaneously minimizing the opportunities for buyers to negotiate you down.
Preparing your home for sale can feel like a lot of work, but when you approach it with a proven strategy, things become much easier. Get our advice on which projects are worth doing and which ones aren’t worth the hassle here:
- Think These Renovations Will Add Value To Your Home? Think Again
- 5 Home Staging Tips To Make Your Listing Feel Like A Model Home
Getting The Right Help
Anyone who’s ever done a renovation before — even a seemingly simple project — can attest that they aren’t always a walk in the park, exactly. Facilitating a home improvement job, whether you’re completing it yourself or hiring a contractor or team to do it for you, takes a lot of careful planning and coordination to get right (the first time).
That’s why for bigger home improvement projects especially, we always recommend you hire a team of experienced and trustworthy professionals to handle the job for you. However, finding the right team and settling on a timeline that works for both of you is clearly easier said than done, which is why it’s much better not to rush into things before you’re ready.
Getting the right help can take some time, but trust us, it’ll be well worth the wait if you’re able to hold off on tackling any improvement projects until then. Not only is your project more likely to be completed to a higher standard with more predictable final results, but it’ll save you lots of stress not having to worry about getting the job done before a quick deadline.
Plus, utilizing the services of a seasoned professional means you most likely won’t have to worry about hiring another person to take over or re-do the job in case your initial contractor falls short.
Looking for a contractor or home improvement specialist you can trust? We work with the best in the business every day. If you’d like our help to get in touch with a reliable professional, simply contact us here and we’d be happy to make an introduction.
The Market Might Not Be Ideal
The longer we work in the real estate industry, the more we realize how popular some common preconceptions are — one major example being that our industry revolves around a calendar. Yes, while certain seasons like spring and autumn are traditionally more active parts of the year for real estate transactions, they aren’t necessarily always the ‘best’ times to sell your home.
It might sound painfully obvious, but determining the best time to sell your home should depend on how well prepared you and your home are to sell, not on a specific date on your calendar. With that in mind, however, it’s also very important to the success of your sale to closely monitor the performance of your local housing market and be prepared to jump in and list at the optimal time.
Whether that ends up being in the spring or fall or not is secondary to reading the ebbs and flows of your local market and being able to forecast when your listing is most likely to attract the most attention from buyers and receive the highest returns from a sale.
Although not every seller will know how to read up-to-date data and statistics from their home’s local real estate market (let alone have access to them), any Realtor® or listing agent that knows their stuff should already be reading the market for you. All you as the seller need to make sure of is finding qualified real estate assistance in the first place.
In the world of real estate, timing is everything and knowing when the best time is to list your home for sale makes an enormous difference in your final result. Learn more about how to find out when the best time for you to sell is by reading our related posts here:
- When Is The Best Time To Sell Your Home In Toronto?
- The Benefits Of Listing Your Home In The Winter
- How Sellers Can Make The Most Of A Hot Market
Do you want to learn more about how to connect with a seasoned real estate agent with comprehensive experience selling homes in your local market? Read through Our Guide To Finding A Toronto Listing Agent here!