How to Tell You’re Not Ready to Sell Your Home Yet
Having your home sit on the market for a long time makes buyers wonder what’s wrong. If you’re about to go on the market but feel some reservations, here’s how to tell you’re not ready to sell your home.
You’re still emotionally involved
There are major emotional considerations involved in selling a home. Have you lived there for 10 years or more? Did you grow up in the home? Have strong memories there? Is your home sale the result of a major life event, such as a death or divorce?
If so, the thought of packing up your home, moving out and allowing complete strangers in could spark strong emotions. It’s better to hold off, mourn the loss of your home or life event, and list the property when you’re fully prepared to move on. Otherwise, you face an uphill battle.
You want at least 10 percent more than your agent thinks you can get
The first few weeks a home is listed is when it gets the most action from serious buyers. If you’ve priced your home too high, it could languish on the market for months. At that point, you may have to drop the price, ending up with an ultimate sale price that’s a lot less than what your agent suggested in the first place.
If more than one agent recommends pricing your home at more than 10 percent below what you want for it, it’s a sign you may not be ready to let go. It’s probably better to wait until you are.
You don’t have an exit strategy
No plan to relocate, rent or buy a new home? You might not be the best candidate for listing. Without a plan, you have no motivation to clean, organize, stage, paint or otherwise get the home prepped for the market. And if it doesn’t show well, you leave money on the table.
If you’re not ready to make the commitment, don’t put your home on the market.
