A few months ago, we wrote a post on how to know if you’re ready to buy a house. It’s one of the big leaps in life, moving from renting to buying, becoming an owner and not a tenant. However, selling a house can be as complicated as buying it or more, and many people don’t stop to consider whether they are prepared to do so. If you want to know if you’re ready to sell your house, ask yourself these questions:
Do you know why you want to sell your house?
Selling your house is not a choice that can be taken lightly, and before putting it on sale you have to ask yourself why you want to do it. There are times when the reason is clear: You’re afraid to rent it and aren’t using it, or it’s an inheritance that you don’t want to concern yourself with, or you need to sell the house because you’re moving and want a new one.
However, sometimes the reasons are not so clear, and people embark on the sale of the house without really being willing to sell it. Preparing a house for sale is an effort (you have to clean it, tidy it up, take photos, collect documentation and advertise it on portals at least) and it is not worth putting all that work and then backing off at the time of selling it.
Therefore, our first piece of advice is that before putting your house for sale, you ask yourself why you want to do it.
How’s your knowledge of the market?
If you’re already sure that you want to sell your house, the next thing you have to do is to investigate the market in which you’ll be working. This means not only knowing the prices, but the different areas, what the sellers are looking for, and what elements add or reduce value to a home in the area where it is.
If you don’t do all this research, you risk setting an incorrect price for the sale of your house, which is bad news whether it is too much or too little. When your price is too low, you will lose money on the sale. If your price is too high, your house will not be sold, and the longer a house is in the market, the less possibilities it has to be sold.
Before putting your house up for sale, take the time to gather all the data you need, and make sure your price is correct.
Do you have the necessary money?
This part sounds a bit weird… money? Why, if I want to sell? Unfortunately, the sale of a house is not free of cost: You have to pay plusvalia and other taxes in Spain, and it is often advisable to make small repairs to the house to improve its sale price. You will also have to pay the costs of notary, lawyer, and if you really want to sell your house fast, professional photographers, decorators, etc.
Besides that, if you’re selling your house because you want to buy another one, you also need to have a small fund for the expenses of the purchase, since although you are surely counting on the money from the sale of the house for it, there are always unforeseen events that can happen before you receive your check.
Not having the money to deal with all this can put you in a complicated situation that may cause you to make bad decisions regarding the sale of your home.
Are you emotionally prepared?
You’ve already done all the research you had to do, you can give a list of reasons why selling your home is a good idea, and you have all your finances in order … but that isn’t everything.
Before putting the “For Sale” sign on your balcony, ask yourself if you’re really prepared to do everything necessary to sell your house: Keep it ready for visits over the next few weeks, accept the reasons why some buyers may not want to buy it, and be ready for negotiations that can be very tough.
In addition, you will be leaving a place where you have surely created beautiful memories, and it’s possible that there are some necessary changes for the sale of your house (such as repainting walls or removing some of the decoration) that will surely be difficult for you.
It’s not that we want to dissuade you from putting your house for sale, on the contrary, but you have to know that these are things that you are going to have to face.
Do you have a good agent?
This is the last big question you have to ask yourself when you put your house for sale. Like all services, it’s optional, but the help of a real estate agent will make all the above points a lot easier.
Of course, not all agents are good enough: Look for an agent that really looks for your interests, who knows the market well and does everything possible to sell your house. It is the best way to ensure a quick, safe sale, and without any problem.