You’ve ticked off your pros and cons, you’ve chosen your ideal moving location - selling your home is what’s best for your current situation. Before you rush to put your house on the market, we’ve broken down the ten things you need to consider before putting up that for sale sign.
Choose the right solicitor
Your solicitor will handle the legal elements of your sale, and choosing the right one can ensure the selling process is smooth sailing. If you aren’t sure where to start, ask your estate agent - they may have a list of recommended solicitors or conveyancers that they trust.
Research your local area
Whether you’re moving around the corner, or saying goodbye to SE5, you need to thoroughly research the area you wish to sell in in order to determine your starting price. There are many ways to discover the housing market around you - including sites like Rightmove and Zoopla.
Gathering as many opinions as you can will help you solidify your value average - and don’t forget to ask your mortgage lender. They may send out their own surveyor, who will follow their own strict criteria who could return with a different cost.
Dig out your papers
You will be required to produce many documents pertaining to your home ownership when it comes to selling and meeting with your solicitor. Take this time to check your mortgage documents. Depending on your lender, they may charge you an early repayment fee should you still be in the bracket to pay it. However, there are ways to decrease your likelihood of paying an ERF, and a mortgage advisor can offer advice on the best course of action.
Tackle the odd jobs you’ve been putting off for years
Don’t leave the small jobs that have been left throughout the years. A wobbly bannister here, a chipped side board there - all may seem inconsequential, but when grouped together can have a large effect on your home’s final value.
Potential buyers and valuators will be looking for these exact things, and though you may become blind to them after living with them for so long, they can affect that vital first impression.
Look into estimates for anything that may need replacing
As time passes your home may start to show signs of age. Though buyers may be looking for a period home with character, splits in the foundation, or a missing roof tile, isn't what they have in mind.
Structural damage can not only bring down the value of your home, but become a gateway to larger, more expensive problems should disaster strike while your home is on the market.
Though it was revealed that 80% of buyers actively want to purchase a home in need of renovation work, if you’re searching to get the most out of your sale, you will need to take care of larger jobs before the valuation.
This can also include room renovations. Small changes - like painting and changing cabinet doors in your kitchen - can add up to 3%, but a full scale replacement can create an additional 10% in value.
Take an objective look at each room
You may love your bright yellow dining room, but take a moment to consider - would you buy this house, with this room? The whole point of selling is to create the ability for your potential buyers to imagine themselves within your home. In fact, there are some paint colours out there that can devalue your home, so always opt for neutral colours.
Also, consider space. Your living room may currently exist as an office-come-dining room-come-living space, but the most important thing to consider when putting your house on the market is what your audience is looking for.
And at the moment, it’s the ability to close the door. 43% of buyers are searching for conventional spaces when looking for their new home. However, with the boom in open plan living some years ago, this makes separating life difficult. But not impossible.
From creating specific spaces to faux boundaries, you can not only designate purpose, but showcase the potential of your space, and how it can be turned into the place of their dreams.
Consider opportunities for development
Your home is full of potential for development, and by extending or renovating rooms, you increase the likelihood of adding value and attracting serious buyers.
Did you know that by just applying for planning permission, you can increase the value of your home by up to 30%? Many buyers are looking for opportunities to develop and make their next home their own, and by unlocking this valuable step for them increases the attractiveness of your property.
Don’t forget the exterior
Curb appeal is just as important to buyers as a modernised interior. Elements of curb appeal include your garden, driveway, porches, and anything else that contributes to your exterior. A survey carried out by Barclays Mortgages revealed that one in 20 of people would try to knock 21% to 30% off the asking price of a home which looks unattractive externally.
First impressions are everything - and 66% of buyers agree. When you’re selling your home, you need to ensure your property is remembered for all the right reasons.
Photography
It's increasingly likely that the first time a potential buyer will see your property will be online. In fact, 90% of buyers start their property search online. What catches their eye and stops them from scrolling by isn't detailed descriptions of your home, but the photographs.
Investing in professional photography, or a decent camera, is a great way to attract more people to your listing. As we touched on earlier, buyers want to visualise themselves in your property, so when taking photos aim for a clutter-free picture.
Choose an agent wisely
A good estate agent isn’t just there to help you list your home for sale - they should be with you throughout the entire process of selling, advising you on how to get the best value so you can make sound decisions. They need to know the ins and outs of your local area, and have a wealth of expertise at their fingertips. There are a few types - big chains with offices across the country, online-only sales platforms where you have to do the research, or local agents with an encyclopaedic knowledge of their immediate area.
The selling process may be long, but entirely worth it when you find your ideal buyer. At Urban Village, our selling expertise is second to none - using our local knowledge to help you make informed decisions, and our own experiences of living in the area and free staging to discover the true value of your property. Request your free property valuation or call us on 0203 519 9121.