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Martin's Blog 02/12/10 - Help the SaleWith property sales transactions hitting a post-war low, need I say, that if you are trying to sell your home right now, times are tough. There are several reasons why the property market has ground to a halt; the severely restricted mortgage market demanding much higher deposits, uncertainty over jobs especially in light of the government spending cuts and the general gloomy outlook for the economy. But if you need to move – due to relocation, retirement or other factors, you are probably going to have to be a bit ‘creative’ to get one of the few ready buyers out there to choose your home.
Whilst I can’t generate viewings for you, there are things that you can do to help convert viewings into offers on your property.
Firstly, make sure your home is presented in it’s best possible light:
1. Neutral Colours - Decorate your home in neutral colours so that you create a ‘blank canvas’ on which likely buyers can visualise their own furniture and fittings etc. 2. De-Clutter – Maximise the chances of any viewings turning into offers, by ‘staging’ your home as best you can. This means having a concerted effort to put away muddles and clutter so that viewers can see the rooms themselves – not all your paraphernalia! Think ‘show home’ and scoop clutter into cupboards, under beds (anywhere!) for the sake of the viewing. 3. De-Personalise – Whilst the leopard print wallpaper might be right up your street, not everyone will share this view. You need to remove anything too bold or overpowering – instead stick to modest décor for the sake of selling. 4.
Tidy the Garden – Make sure the garden in neat and tidy. Keep weeds from pathways
and driveways, clear leaves and dead vegetation and make sure the lawns are
mowed. Clearly, during the winter, gardens are not at their best, but still
make sure that garden furniture and tools are stored away, bushes etc are
pruned back and dead leaves are swept up. If you need to
take more serious action to get the sale, then consider: 5. Lowering The Kerb – If you don’t have any off street parking with your property, consider lowering the kerb outside your house to allow cars into your grounds. You’ll need to consult your local planning office about this, but offering off street parking can be a major plus point in streets where houses don’t have garages. 6. Planning Permission – if your property begs for extension or modification, get plans drawn up to illustrate what could be done. If you can offer buyers a way to expand or improve the house in the future, then they will be able to see how the property could be adapted to their changing needs over time. You don’t need to actually do the work – just get the plans approved. 7. Go up or down or both – if you have attic space that can be used for an extra room – make this happen. Similarly, if the property is fortunate enough to have a cellar this is usually a major draw for buyers. Consider converting either or both into living accommodation, or if your budget doesn’t stretch to this, convey what could be done through drawings and plans to your likely buyers. 8. Maximise the Accommodation – in the UK, the number of bedrooms in a property is important. If you have any particularly large ones, consider partitioning them to create two bedrooms where there is one. 9. Kitchens are Key – the kitchen has long been considered the one room in the home that can sell the house. Nothing has changed on this; but today’s modern buyer may want to use the kitchen for far more than just peeling the spuds! Try to illustrate how versatile your kitchen can be – these days it will be a hub of the house and used for entertaining, socialising, kids activities etc. Islands or breakfast bars work well or a large kitchen table if you have the room. Update any tired-looking kitchens by replacing the cupboard doors and / or work surface. This can give the kitchen a new lease of life without the expense of it being replaced. 10. Best Bathrooms – second to kitchens, buyers will buy homes on the basis of the bathroom. Make sure yours has a white bathroom suite and that tiles are a neutral colour. You can paint them with tile paint for a cheap and easy way to update the bathroom. Overall they should shout ‘clean’ and ‘fresh’ so that avocado loo will have to go! 11. Reveal Hidden Features – if you are lucky enough to have period features in the house, make sure they are revealed. Shuttered windows, fireplaces, cornicing and pine doors are all things that will give your property character and charm and are usually well sought after. 12. Central heating – if your property doesn’t have central heating – get it installed. This is a home improvement that is perceived to be more costly than it actually is. Buyers could be put off by the thought of having to fork out for this.
Lastly, you
can do your bit to sell the house: 13. Sell the Area – put together a folder highlighting the local services, restaurants, shops, pubs, schools, sports clubs and societies in the area. Talk to vendors if they don’t know the area about what it is like to live here. 14. Be clear why you are selling - Buyers will often ask leading questions about why you are selling. Even if the neighbours are driving you nuts and forcing you to move - try and have a positive story as to why you are leaving. 15. Show running costs - If you are happy to share information with would be buyers about the running costs of the property, this may help them understand what their overheads will be like. Utility bills, insurance and other services might be useful things to have on hand. 16. Be Flexible - if you are lucky enough to get an offer, be as flexible as you can regarding completion timescales. You may have to become ‘homeless’ on a temporary basis and bunk up with family or friends for a few days or weeks - but this is a small price to pay for getting the sale.
If all else fails, and you really can’t sell, you may have to consider renting the property out. If this happens, don’t worry, you won’t be alone - this difficult market has seen numerous ‘accidental landlords’ created. You may be able to get a Buy to Let mortgage to help you buy your new home and rent out your existing house. Lenders will want to see that the monthly rent covers the cost of the mortgage so its not a drain on your pocket.
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