Different factors to consider when selling a property
Putting a property up for sale? Then follow our handy guide to the factors you need to consider next.
First and foremost, consider your finances, from your existing mortgage to your new one and the associated costs of moving. You’ll need to contact your existing mortgage provider to let them know of your intention to move, check what is outstanding on your mortgage and if there are any early repayment penalties. You’ll also need to get the finances for your next home in place in good time. If at all possible, do put a bit of money by for unexpected expenditures.
What price do you want?
Hand-in-hand with checking your finances comes considering what price you want or need for your home. Do your research and find out what similar houses have sold for in your street. Also, be sure to get at least three valuations for your home, so you know what’s a realistic price to expect.
Who will sell your property?
Consider who you want to sell your property. Would a traditional or an online estate agent suit you best and what are the fees involved. Do you want an estate agent with local knowledge or the resources of a national chain? Do you want a sole agent or multiple agents? Some brave souls sell their homes themselves – but you’ll find it easier to let a professional handle it. An outsider can give you a fresh perspective on the pros and cons of your property and give you the benefit of their expertise.
To help your sale go as smoothly as possible, then ensure you have the paperwork ready, this can be a particular headache but will save you time in the long run. From building regulations to fensa certificates, records of services to guarantees, having the right paperwork will ease the passage of your sale. Selling the home of a loved one can be particularly difficult, but if yours is a probate house sale, then help is available through a specialised probate property company, who will be able to manage the paperwork for you and take the pressure out of selling the property.
Your target market
Consider who is most likely to buy your home and stage it accordingly – just don’t do anything to put off another buyer. If your area is increasingly chosen by young professionals, then pop a desk or office area in an alcove, but do keep all of your bedrooms as bedrooms, so it will still appeal to families. If your property benefits from factors that other houses in your street don’t have – like off-street parking or outside space, then make the most of them. Consider too, if your local area has benefitted from investment which would make your house more appealing, like public transport upgrades or infrastructure schemes.
Getting your house ready
To prepare your house for viewers, you’ll need to declutter, tidy, clean and refresh. Don’t invest huge amounts of money in fitting a new kitchen or bathroom, but do put a fresh coat of paint on the walls and choose a light colour to maximise the sense of light and space. Also, do fix those niggling repairs you haven’t got around to doing, leave too many and you risk putting off a potential buyer. What’s more, all of the above goes for the outside as well as the inside, from sparkling windows to cutting the grass and finding a home for your wheelie bin. Make sense of each room and dress it for its purpose, putting dining furniture in the dining room and beds in the bedrooms – try to keep that extra bedroom from becoming a dumping space. Make the most of your space outside and in, to help you get the most for your property.
There you have it; an overview of the factors you need to consider when putting a property up for sale.
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