5 Reasons You Are Not Able To Sell Your Home

Picture this: You have made up your mind to sell your home. You have informed your colleagues and family about the sale and have asked them to find buyers for you. You have even slipped in flyers in newspapers about you apartment on sale in Mumbai. At the end of it all, you have received no response for your home. It may be puzzling but there have been several instances where sellers have not received favourable response for their properties on sale.

Here are a few reasons why buyers are not showing any interest on your resale apartment in India:

1. High pricing

Undoubtedly, the prime reason to attract buyers for ready to move in flats is high pricing. As a seller, you may be attached to your home, and no matter how much a buyer pays for it the amount appears to be less. However, when you enter the market, you need to have an objective vision about the true value of your home, with respect to the prevailing rates for similar apartments in your locality.

2. Inflexible attitude

Sellers often take an inflexible attitude when it comes to selling their home. Not employing a real estate agent for selling your 3BHK in Malad West thinking you can do it yourself is a big gamble to play. You should hire a couple of real estate agents so that they can increase the visibility for your property among potential buyers.

Moreover, you need to be open about showing your property at different times of the day as buyers would come around according to their convenience. To work around this problem, you can hand over a set of keys for ready to move flats in Mumbai so that you don't need to be around during the showing. This is a feasible workaround as long as the apartment is completely empty and risks of damage to it are minimal.

3. Dilapidating structure

The condition of your home's structure, fixtures and fitting is a big determinant in attracting buyers. If your home is in a rundown condition, then attracting serious buyers would be difficult. For fixing your home, you don't need to spend lakhs of rupees on it. Repairing the bathroom and kitchen fittings and a fresh coat of whitewash would be enough to generate buyer interest.

Do not try to market your 3BHK in Malad West as a project in the pipeline that buyers can customize according to their needs as buyers usually want apartments that are ready to be moved into. They do not want to spend weekends renovating the house. Besides, if you do want to market the property as a fixer-upper, then you have to lower the price considerably in order to fit it into budgets of buyers. It may not be a favourable proposition for you.

4. Too much personalization

Personalization blocks visions that buyers should have about the new home they will be living in. It will seem to them that they are entering someone else's home and trying to buy it. To make your home less personalized, you should strip the resale apartment of your belongings. Hire a storage space where you can bundle up photos, knickknacks and keepsakes. You can leave behind a few furniture pieces so that buyers can visualize how they would like to redo your apartment when they start living in it. When painting your home, choose neutral colors such as cream, peach or white as they do not give off any kind of vibe.  

5. Inadequate advertisement

You need to make your home look attractive in photographs so that more buyers are interested in it. Hire a good photographer to take pictures of the flat and edit them to fill in a lot of light. Take pictures of different rooms so that they know what the apartment is like in terms of its layout. However, do not go overboard with the editing that buyers feel disappointed when they see the actual home.