The 5 w’s of home selling and buying for families are key questions that are best answered before you sell your home and begin searching for your new one. It’s gathering key information on your wants, needs and how everything will happen. It gives you the tools to not only help your realtor sell your home but also find your perfect new home. Better yet it keeps the household on the same page throughout the entire process
Know your why
You have to know why you are selling. Do you need a bigger home, better school district for the kids, do you want a smaller mortgage, are you read to pay the in-laws back on the loan from the first home or are you’re going to use the money from the sale to start a business? Knowing why you want to sell will help you better manage the selling process. It will help you know when to accept an offer or when to leave an offer on the table.
A clear when
Once you are ready to move. The next step is figuring out when. This is a very important yet often overlooked step in home selling. If mom is pregnant do you want to move before the baby is here or should you wait until after. Do you want to move in the spring so the kids can be ready for school? Are you ready to leave your home for private showings in the winter time? If you don’t have to sell your home right now, you can’t underestimate the importance of this. If you have the option, make sure the time table of selling your home is accommodating to your life. Do not let a realtor persuade you to sell sooner or later than you are comfortable with.
Since your selling your current home you will naturally have pie in the sky ideas of your next home. True, this is a great moment to find a space that has everything for family. Regardless if you are looking for larger space or downsizing, when looking for your new home knowing what you need is essential. The key word is need. The needs are the mandatory what’s. Such has How many rooms, a kitchen where you can cook and key an eye on the kids, how many bathrooms, a backyard for the dog, an extra room for grandma, close to the school, close to work and energy efficient windows are needs.
Once you have your needs met then you can start thinking of your wants. those special somethings such as Stainless steel appliances, granite countertop and a place for a man cave. Keep in mind it is the wants that drive up the price of the home and complicates your home search.
Who is going to help you in this journey? You may already know a realtor or go with a complete stranger. But in either case, make sure you’re hiring the right realtor. The best way to find out if a realtor is for you is to go with your instincts and then follow them up with key questions. You have to be comfortable with your realtor. You have to feel like you can ask any question, call them anytime and you have to be able to trust that they are working for your best interest. Then after that ask the specific questions such as, how are they going to market your home or how long have they been selling homes.
The who’s also include, who you are taking advice from. When your friends and family realize you are thinking of selling your home, everyone has an opinion. So be hold off on telling the world you are thinking about selling. The final who you need to be aware of is the real estate investor. They see your home as a tool to make more money, as a liability if it isn’t sold quickly. They may have advice that will lead you to spend more or renovations than you need or even list it at a price higher than the market can allow.
When speaking with a realtor, make sure you have a strong idea of where you want to move. Do not say anywhere. By saying anywhere your realtor will be looking to show you homes anywhere that fits your basic criteria. Creating a narrow search will give your realtor key information they can use to pinpoint the area that best meets your family’s needs. This will make the home search much easier.
Knowing the 5 w’s of moving will give you the best possible chance of having a smooth real estate experience. It will reduce tension and anxiety.