Whether you’re upgrading, downsizing, or giving up your permanent residence to travel the world for the foreseeable future, there are many things to consider when selling your home. Here are some useful tips to help you navigate the process.
Deciding whether the time is right
Being confident about your decision to sell your home is important. This might mean being sure the timing is right for your lifestyle—are you ready to move out of your current neighborhood? Do you need a bigger place to grow your family? Or it might mean making sure market conditions are right. If you’re not sure, start by checking comparable home prices in and around your neighborhood. This will help you understand what prices similar homes are selling for, and whether you might want to wait. You can also contact a real estate agent who can help you figure out what a realistic price would be. Once you know the time is right, you can move ahead.
Find an agent you trust
Finding a trustworthy real estate agent can help you to sell your home more quickly than you might be able to by yourself. A trusted agent can ensure your home’s asking price is reasonable, that you are getting the most money possible, and provide tips on how to best present your home.
Do a deep clean
Showing a clean home will let viewers see your home at its best and help them envision how it could be their home, too. Whether you bring in professional cleaners or do it yourself, be sure to take care of the standard places like floors and windows, and then all the hidden ones like the tops of light fixtures and furniture, windowsills, and any walkways, gutters, or other exterior features that could benefit from a good cleaning.
Stage your home
Staging can help your home sell faster. Whether you hire a staging company, enlist your real estate agent, or just make little changes yourself, staging involves presenting your home in an inviting way to potential buyers. Sometimes, staging means using furniture that is more neutral in tone and appearance, allowing viewers to be less distracted and to envision the home filled with their own furniture and decor. You may also remove more personal items like photographs and mementos.
Considerations when buying a new home
Unless you’ve decided to start renting again, selling your home usually means buying a new one. It’s important to keep future steps in mind as you navigate the selling process. There are many things to think ahead to—like closing costs, moving expenses, renovations, mortgage payments, and taxes. This might also be a good time to reevaluate your life insurance coverage, especially if you’re considering an upgrade. The death benefit from life insurance can ensure your heirs can continue paying the mortgage. And a permanent life insurance policy like whole life insurance offers a guaranteed death benefit and a cash value component that may grow over time.