Are you thinking about putting your house or flat on the market? Whether you’re after a change of scenery, more space or needing to relocate as a result of work requirements or personal circumstances, looking for a new home - and putting your house on the market - is a very personal journey. And one that comes with a number of things to think about. Here we take a look at the key things to consider in order to ensure you make the best choices possible when it comes to selling your home.
Finances first
Before you put your house on the market, it’s important to work out whether it’s an affordable decision to sell up and move. Existing mortgage terms can incur early repayment charges if you move before they end, and if you want to move to a more expensive property, you should find out how much you can borrow on the best deal.
Stamp duty also plays a key part in the selling and buying process, but since July the threshold has been raised from £125,000 to £500,000 until March next year. Meaning you now pay 5% on properties up to £925k; 10% up to £1.5m and 12% above that.
Suzanne’s Tip: It’s worth getting expert advice from our in-house mortgage brokers before setting up the photographer to get your home online. That way, you can find out exactly how much you can borrow.
Declutter
Sprucing up your home before valuation, listing and viewings is essential, and decluttering gives potential buyers a blank canvas to imagine how they’d live in the space. It’s vital that your home doesn’t feel too over-personalised, so it’s a good idea to hide family portraits or children’s artwork that might distract buyers from seeing your property’s full potential. And don’t forget your kerb appeal i.e. the outside space – clean windows and repaired fences can make all the difference to a sale. In fact, 68% of homeowners agree that kerb appeal is important in their choice of home.
At Urban Village, we advise on whether home improvements are worth the cost, or if a fresh coat of paint and new taps will be just as effective as a full bathroom renovation. Plus, we offer a free home staging consultation that can help you make the best use of your property – whether that’s advice on how to reorganise and style your home or maximise the space for potential buyers.
Major issues such as damp, dry rot, Japanese Knotweed or subsidence will be picked up in a house survey – which we can make the call on whether to fix issues or factor these in as a future cost for a buyer in your asking price. Full transparency is key when selling your home. And remember, some people are openly looking for a ‘fixer-upper’ so what might be an inconvenience to you might well be an exciting project for them.