10 Things You Should Do A Year Before Listing Your Home
Selling your home is a significant decision. Preparing early can make things easier and more successful. Here’s what to do now if you plan to sell in the next year.
1. Research Where You Want to Move
Before selling your home, deciding where you want to move next is important. Research areas or cities that interest you. Consider things like distance to work, local schools, or family. Look at home prices in those locations to understand what your next home may cost. This will help you have realistic expectations during your sale and purchase.
2. Set Your Budget for Your Next Home
After deciding on your new location, set a budget. Look at your finances to figure out how much you need for a down payment, closing costs, and moving expenses. If you're buying a new home, consider getting pre-approved for a mortgage. Knowing your budget early will help make the move easier and allow for better planning.
3. Research Local Real Estate Agents
Finding the right real estate agent is key to a successful home sale. Start researching agents in your area early so you can find someone who’s experienced, knowledgeable, and a good fit for your needs. Look for agents with a strong track record of selling homes similar to yours and who are familiar with your neighborhood. Meeting with agents early on can also give you insights into what you’ll need to do to prepare your home for the market.
4. Make Any Major Home Renovations
If your home has big problems—like an old roof, broken floors, or old kitchen appliances—it's wise to fix these now. Major repairs can boost your home’s value and attract buyers. Smaller tasks like landscaping, cleaning, and decluttering can wait until you’re ready to sell.
5. Get a Pre-Sale Home Inspection
A pre-sale home inspection can help you identify any potential issues that might delay or derail the sale. By addressing these issues early, you’ll avoid surprises during the buyer’s inspection process. This can also give buyers confidence in your home’s condition, which could speed up negotiations and lead to a smoother sale.
6. Explore Programs and Assistance
Depending on your circumstances, there may be helpful programs available to you, such as grants or low-interest loans for home improvements, tax benefits, or moving assistance. Look into what resources are available, especially if you’re a first-time seller or if you qualify for any special programs based on your profession, age, or location.
7. Evaluate Market Trends and Timing
Real estate markets fluctuate, so it’s important to keep an eye on local market trends. Check out how similar homes in your neighborhood are selling, and talk to your real estate agent about the best time to list your property. If your area typically has seasonal spikes in buyer interest, timing your sale accordingly could help you sell faster and for a higher price.
8. Start Saving for Selling Costs
Selling a home involves costs like repairs, agent compensation, and closing costs. Save money now for these expenses, which can be about 6-10% of the sale price. This preparation will help you manage financial pressure and handle any unexpected costs when selling.
9. Prepare Financial Documents
Organizing your financial documents early will simplify selling your home. Gather important papers such as your mortgage statement, property tax details, utility bills, and home improvement records. If buying another home, prepare the documents needed for mortgage pre-approval to avoid future complications.
10. Plan for Moving Expenses
Moving costs can increase fast, especially when moving to a new city or state. Research moving companies, get quotes, and budget for costs like movers, storage, or temporary housing. Planning ahead helps prevent surprises and makes the move easier.