Buying a home requires a lot of time, money, knowledge and professional help. But, it doesn’t need to be complicated!
A little prep work will lay the foundation for a smooth and successful home buying experience.
In this step we’ll review the overall home buying process in NWA and share ways to prepare yourself mentally and financially for the steps ahead.
Familiarize yourself with the steps of the selling process.
Selling your home is a large undertaking, but don’t despair. We’ve broken the task into 9 manageable steps for you.
Scan through this entire sellers guide to familiarize yourself with the process of selling a home in NWA. Knowing what to expect as you move through the steps “for real” will make the overall experience more enjoyable.
Familiarize yourself with the real estate industry.
It’s probably been awhile since you’ve worked with real estate industry professionals or peppered your vocabulary with real estate terminology. Plus, the last time you were involved in a real estate deal you were a buyer, not a seller.
So, for a quick refresher of real estate concepts, agency relationships and seller etiquette rules, visit our page titled Real Estate 101 and browse around a bit.
Familiarize yourself with the NWA real estate market.
The NWA area is growing rapidly so it’s likely the real estate market today is quite different from when you purchased your home. Visit our navigation tab titled Links & Resources to get a pulse on the current NWA real estate market.
Selling your home is actually just a small part of an even larger moving process, a process that involves a slew of other challenges you’ll face while simultaneously selling your home.
Sellers often underestimate the amount of time, money, brain power and physical labor selling their home and moving actually take.
These demands will affect your day-to-day life for the next 3-6 months. So, be aware and recognize the extent to which each of these challenges will take a toll on you and your family.
Then, make a plan to prevent them from having a negative effect on the sale of your home.
Set realistic expectations for the amount of time required to work your way through the selling process. Much of your current free-time will now be spent meeting with your agent, reviewing contracts, keeping your home show worthy and making countless trips to Lowes (#repairs).
Speaking of time, you may also want to ask yourself if this is a good time for you and your family to take on the challenges of selling and moving. Is there a better time of year where your schedules are less demanding? Are the current market conditions favorable for selling your home now?
MOVING COSTS MONEY.
Consider the larger financial picture of selling your home and allocate funds now to eliminate the surprise factor of unforeseen costs.
Budget plenty of extra cash for movers and home repairs your buyer may request. Determine what things you can do yourself and what things you need to hire out. Factor in unexpected costs too, such as a hotel stay or rent if there will be a gap between the sale of your home and the purchase of a new one.
It can be hard to separate yourself emotionally from your house and see the sale of your home as a business transaction. However, if you let your emotions overrule your logic during negotiations you may make decisions you’ll later regret.
Focus on the big picture, your reason for moving, and use this as the litmus test to mentally check whether the decisions you make move you closer to your goal.
To determine if you are emotionally ready to sell your home, ask yourself: Am I willing to rearrange my furnishings and take down personal pictures to help it sell? Am I ready to let people tour my home? Will I be offended by a low offer or negative buyer feedback?
The selling process is physically demanding. Deep cleaning, pre-packing to declutter, making home repairs and rearranging furniture are just some of the symptoms that cause seller fatigue. Oh…did we fail to mention the need to eventually pack and move all your belongings out of your house and into another? Moving is a sweaty business.
Before you begin the selling process, honestly evaluate your physical capabilities. If you are not able to do the activities required to prepare your home for sale or move yourself then make a plan to hire the necessary help and budget accordingly.