Selling your home can be an emotional experience, especially if you’ve spent a number of years there. In turn, it’s natural to feel anxious and even scared.
People sell property for all types of reasons – for some, they might want to capitalise on the current state of Victoria’s real estate market, while for others, it might be a simple case of upsizing or downsizing.
Now more than ever, selling your home can be a scary experience. According to a Zillow survey of over 10,000 market participants, 95% of sellers found the sale of their home to be stressful to them or their families.
While that result is hardly surprising given that selling your home is one of the biggest and most complex transactions a person will make during their lifetime, how can homeowners deal with some of the most common fears linked to selling a property?
Three Common Fears Linked To Selling Your Home
Particularly relevant for owner occupiers, people tend to buy property from the heart, and the figures are there to prove it. So much so, that a study conducted by the Commonwealth Bank found that 44% of Australian buyers paid more for a property for the sole reason that they “really liked it”.
Quite simply, people really do fall in love with properties. In addition, it’s one of the key reasons why people have such a hard time walking away from them, particularly if a property has been their long term family home. While the process of selling a property can be a complex and stressful one, and often filled with fear – what can you do to minimise the impact?
Fear Of Not Selling – The idea of your home languishing on the market is the number-one fear for most sellers, especially if there’s a specific price in mind for purchasing a new home. To alleviate this, doing your research and having realistic expectations on price and time frames is key to avoiding the fear of not selling your home. If you want to nail a quick house sale for the best possible price, understanding what not to do is often a good place to start.
Fear Of Renovating – Many people assume that undertaking significant home renovations is a must for selling property. In reality, overcapitalisation and taking on too much are the worst things you can do for selling your home, as investing too much time or funds into big projects may not even be necessary. Instead, get your home ready to sell by getting the right advice from a reputable real estate agent and understand which common renovation mistakes to avoid.
Fear Of Stress Itself – It’s important to remember that selling your home is often as stressful as you make it. If there’s other big events going on in your life, such as a new baby, a change of jobs, or an upcoming marriage, it’s probably not a good idea to add selling your home to the list of potential stress triggers. While some people rush selling their home because of urgent personal circumstances, try to pace yourself and follow a checklist to stay on top of the process.
When it comes to separating the good from the bad, choosing a real estate agent that’s right for you can be a gamechanger when it comes to a stress free sale. While a top agent should know the area like the back of their hand, general knowledge isn’t enough.
A good real estate agent should know exactly what’s going on in the market, and all the inner workings of what buyers and sellers are up to in their pocket of the world. Don’t partner with the cheapest agent, and consider using a property advisor if you’re struggling to sort the good from the bad.
Should you be looking to sell your home or purchase a new one, enlisting the services of a free property advisor like ESPA can often be a game changer. As an example, your advisor would likely research the property, local agents, check the zoning, evaluate market conditions, and communicate clearly with you regarding all of your options – but where do you find one?
Take The Stress Out Of Selling Property
As a completely free service, Emergency Services Property Advisors provide property advisor services to Police, Fire, Ambulance and S.E.S personnel and their families right across Victoria.
Luke and the team at ESPA are passionate about providing support to some of Australia’s most valued public servants. Along with key industry insights, ESPA also works with a broad range of service providers linked to the real estate industry such as conveyancers, trades, legal practitioners and mortgage brokers.
If you are an emergency services worker looking to potentially buy or sell property in the future, please get in touch with Emergency Services Property Advisors today to discuss how we can turn your real estate dreams into reality, or call Luke directly on 0414 757 705.