Before Selling Your Home: Key Decisions for a Successful Sale

Before putting your home on the market, it’s essential to be clear about several factors that will impact the sale process and your future move. Consider the following:

Your reasons for moving: Understand your motivations and goals.

Financial expectations: Determine how much you hope to earn from the sale, how much you need to pay off an existing mortgage or to purchase a new property, and how much flexibility you have.

Timeline: Estimate how long it will take to prepare your home, sell it, and complete your move.

Working with a real estate professional is one of the best ways to ensure you receive sound guidance in all of these areas. An experienced agent can help you understand the market, set a realistic asking price, and plan the process strategically.

Avoid This Common Mistake

Many homeowners make the mistake of pricing their property based on what neighbors are asking—not what homes have actually sold for. This approach can lead to overpricing and longer time on the market. A qualified real estate agent will provide accurate comparable sales data—properties similar to yours that have sold within the past 3 to 6 months. This is the most reliable basis for setting a competitive price.

Financial Decisions to Make Before Selling

Make sure to review these financial steps before listing your home:

Planning to buy another home? If the purchase of your next property depends on the sale of your current one, be sure to include a contingency clause in your offer. This protects you from being obligated to buy if you’re unable to sell your existing home in time.

Check your financing eligibility. If you’ll need a mortgage to buy a new home, make sure you pre-qualify before moving forward. Don’t assume approval will be automatic.

Be strategic with your asking price. Avoid listing your home significantly above market value. Overpricing may discourage buyers and help your neighbors sell faster than you. Pricing your home competitively from the start is key to attracting serious interest.

Understand the agent’s commission plan. If you’re working with a real estate agent, make sure you’re clear on how their commission is structured and that you’re comfortable with the agreement.

Decide what stays and what goes. Create a list of items you plan to include in the sale and a list of items you want to keep. This helps avoid misunderstandings with buyers, who might assume certain fixtures like curtains, light fittings, or built-in furniture are included. Additionally, some buyers may be interested in purchasing furniture or artwork—deciding ahead of time what you’re willing to sell will help you make rational choices under less pressur