5 Reasons Why Your Home Isn't Selling
August 22, 2018 | Posted by: Mortgage InGenuity
You've put your house on the market, and you're ready to start spending all the money you know you'll make from the sale. There's only one problem. Your house isn't selling.
After trying to figure out why buyers are so stubborn, you reluctantly start looking for tips. You've clicked on the right article. Here are 5 likely reasons why your home isn't selling.
Your Asking Price Is Too High
Almost everyone believes their house is worth more than it really is. Many of those who don't would still like to try to get more for their houses than they're worth. The problem is that if potential buyers see comparable houses in your area priced lower than your house, it's not likely to sell until you adjust your expectations. Your house is worth only what someone is willing to pay for it based on market values. Be realistic, and your house will sell a lot faster.
You're Trying to Sell Your Home Yourself
A lot of people think they'll save money by trying to sell their own homes, but what often happens is the homes end up sitting on the market for a long time. This is because people don't know how to show their homes in the best light. Sellers also might not see the problems a third party would notice. If you want to sell your home faster and probably for a better price, you need to engage the services of a real estate agent.
Your Home Has Problems
As mentioned above, your home may have flaws that you're oblivious to. It may just be dirty or cluttered, or it could have bigger problems. Your home may just need some minor repairs. Whatever the case may be, seeing things from the buyer's perspective is the best way to approach an open house. Anything else will only increase the time it takes to sell your house while decreasing the final sale price. In other words, you'll lose not only time but money as well.
Your Home isn't Staged
Even if your home is clean and in good repair, it can still be made more attractive to potential buyers. Staging is simply making your house look like a house in a magazine. This is done by first decluttering your home. You'll even want to use fewer and smaller pieces of furniture to create space. If you don't have nice furniture, you may want to rent some. When it comes to selling your house, its appearance is that important.
Your Home is In a Bad Location
When it comes to selling your home, location isn't everything, but it definitely matters. If you're near the highway, airport or train tracks, the noise might be putting off potential buyers. If this is the case, then it goes back to price. Lowering your asking price or offering incentives may be the only things you can do to sell your home. On the bright side, you'll have learned a valuable lesson and will be motivated to choose a better location next time around.
Homes don't always sell right away. Those that do have everything going for them. Their prices, amenities and locations are all ideal for that market. You can't change your home's location, but you can do a lot to make sure your house sells faster and for a good price. It's largely up to you.