7 Questions to Ask Before Selling Your Home in Austin

Are you thinking of selling your home in Austin? If so, it's important to ask yourself some key questions before moving forward. 

How much is your home worth? What are the current real estate market conditions in Austin? How long will it take to sell my home? These are just a few of the important factors you'll need to consider when deciding whether or not to sell your home. 

If you're unsure about where to start, don't worry - the team from Prevu Real Estate compiled a few of the most pressing questions that Austin homeowners should ask before selling their home.

Questions to ask before selling your Austin home

• Why am I selling?
• How much is my house worth in the current market?
• What Austin real estate trends should I be aware of?
• How long will it take to sell my house once it's on the market?
• How much commission will I pay to sell my home in Austin?
• Are there any other fees or taxes?
• What should I do to prepare my house for sale?

Why am I selling?

There are various reasons that Austin residents choose to sell their homes. 

Simply put, people sometimes sell their homes because they are leaving the area. They may be relocating for a job, or they may want to be closer to family. 

Other times, people sell their homes because they are upgrading to a larger or nicer property. They may have outgrown their current home, or they may want to take advantage of rising real estate prices in a sellers market and get top dollar for their coveted property. 

Finally, some people choose to sell their homes because they are downsizing. They may be retired and no longer need a large home, or they may want to simplify their lives by getting rid of unnecessary belongings. 

No matter what the reason, selling a home is a big decision that should not be taken lightly. Understanding why you are selling will help you set your goals on the price of your home and the timing of your sale.

How much is my house worth in the current market?

When determining how much your house is worth, it is important to understand the concept of value. Value is the price that a willing and informed buyer would pay for your property, taking into account all of the relevant factors. These factors can include the location of your property, the size and condition of your home, and any unique features or amenities that it offers. 

As you interview real estate agents in advance of listing your property, ask them what their opinion of value is and proposed listing price. Don’t be afraid to request supporting facts and recent sales data that justifies their proposed price.

Once you have a sense of your home’s potential value, you will be able to calculate the potential net proceeds from the sale of your home. This figure takes into account the real estate commission and fees associated with selling a property, as well as any outstanding mortgage balance or other liens on the property. 

What Austin real estate trends should I be aware of?

If you're thinking of selling your home in Austin, it's important to be aware of the latest real estate trends. For starters, Austin has seen strong price appreciation in recent years, making it one of the hottest housing markets in the country. 

However, the market is beginning to shift as rising mortgage rates are causing some potential buyers to put their search on hold. Despite these challenges, Austin remains a desirable place to live with a limited supply of homes for sale. 

As a result, there are still enough qualified buyers out there if you price your home competitively.

How long will it take to sell my house once it's on the market?

Thinking about selling a house can trigger anxiety for some folks. This is especially true when owners have a specific timeline they need to achieve. So naturally, one of the most common questions to ask is - what is the amount of time it will take to sell my house?

If you're in a hot market, which Austin experienced over the past few years, homes sell quickly and it's not uncommon for homes to receive multiple offers within hours or days of being listed. 

In a shifting market, where there is improving inventory and buyers have more options and less competition, homes typically take longer to sell. In these markets, it's not uncommon for homes to be on the market for weeks or even months before receiving an acceptable offer. 

The best way to get an accurate estimate of how long it will take to sell your Austin home is to talk to a local real estate agent who can give you insight into the current market conditions in your area. For example, an experienced realtor can provide data on the average days on market for the homes that have sold in your neighborhood.

How much commission will I pay to sell my Austin home?

When selling a home, the question of how much commission to pay is often at the forefront of homeowners' minds. Unfortunately, there is no easy answer, as commission varies from brokerage to brokerage in Austin and there is no set rate.

Most brokerages charge a percentage of the home's sale price. In general, you can expect to pay 4% to 6% of the sale price in commission, though this will vary depending on the services offered and the market conditions in your area. 

In a hot market, realtors will be more negotiable as they know homes sell quickly. Whereas, in a calmer market, realtors may be more stubborn to negotiate their commission as they anticipate it will involve more time and effort to achieve a successful sale.

When interviewing potential realtors, make sure to ask them to walk you through their years of experience, and don’t forget to ask about their commission structure so that you can make an informed decision before listing. 

With a little research, you can find the right realtor for your needs without breaking the bank.

Are there any other fees or taxes?

While realtor commission is one of the largest closing costs sellers pay in Austin, there are other fees and taxes to keep in mind when planning to sell your home. These costs can include settlement fees, title search fees, title insurance premiums, prorated property taxes, or other local municipality fees.

Separate from closing costs, homeowners should speak with their tax accountants to understand if they will be subject to any capital gains tax related to the sale. 

What should I do to prepare my house for sale?

If you're planning on selling your house, there are a number of things you can do to prepare it for sale. 

First, you'll want to deep clean your house from top to bottom. This will make it more appealing to potential buyers. Second, you'll want to declutter your house and get rid of any personal items that might distract buyers from seeing the potential of your home. Additionally, you may want to consider painting your walls or making small cosmetic fixes. These changes can help your home stand out from other listings on the Austin market. 

Finally, don't forget about curb appeal! If your landscaping is looking messy, take some time to tidy it up before listing your home. A few simple steps can go a long way in making your house more attractive to buyers.

Interested in selling your home in Austin? Discover how Prevu Real Estate can save you thousands in commission.