Selling in Order to Buy Your Dream Home
The property boom since mid-2020 has maintained its frenzied pace with UK house sales forecast to stay high for at least the rest of this year. Many property owners will be eager to capitalise on this opportunity and sell their homes in the coming months but what’s the best way to do this in the current climate? Kebbell’s Sales and Marketing Director, Andrea Fawell gives her top tips to help you get ahead of the competition.
- Its slow moving. The selling/ buying, moving and renovation processes are all currently much slower than normal because there are greater demands on lawyers, removal companies and councils, and there is a shortage of building materials. Remember to factor this in when selling your home and to have realistic expectations of any milestone dates.
- Consider buyer’s current priorities. The pandemic has meant that buyers particularly prioritise garden space and space to comfortably work from home. Ensure your garden is well-kept and that potential work from home space such as your summer house, spare room or even desk in the hall are decluttered and well-presented.
- Be Covid conscious. Potential buyers may still be put off viewing properties in person during the pandemic unless they really like what they see online. Make sure your home is presented perfectly on your agent’s website with pictures of your windows open and try to get a virtual video tour taken of your home. Make sure buyers feel comfortable during in-person viewings by keeping your home spotless.
- Apply for planning permission. Having planning permission for an extension before you put your property on the market can give you an advantage especially if your home has not been renovated recently. Lots of buyers look for homes that have potential to extend to add more space.
- Make sure the price is right. Although listing your home at the highest evaluation seems most appealing, setting an unrealistic price can put off potential buyers which can result in less competitive bids or may require the price to be dropped several times which can lead buyers to think there is a problem with the property.
- Pay attention to detail. The market is highly competitive at the moment which means you need to do more to make sure your property stands out. Make sure windows and carpets are clean, the property doesn’t have cobwebs, jet-wash the patio and front drive, and touch up paint work and re-grout the bathroom.
- Choose the right estate agent. Research the property agents in your area; some may specialise in apartments rather than houses for example. Read their reviews and decide on the one that is right for you. Speak to your prospective agent in person and make sure they are able to offer you everything you require. Ask them what they offer that differs from their competition and what their Covid-secure policy is.
- Make it homely. Buyers during the pandemic want their new home to feel welcoming and homely even if you are simultaneously presenting it as much of a blank canvas as possible for them to personalise themselves. Fresh flowers and well-lit rooms are easy go-to solutions. If you have a garden, then set up the outdoor furniture so that you are showing it off at its best.
- Be prepared. Make sure you have all paperwork in line for your current and next property such as guarantees on windows, the boiler and paperwork on new extensions to avoid unnecessary hold ups and to make sure the process is as smooth as possible. Select your lawyer based on recommendations, talk to your mortgage lender and get all your details ready from utilities companies. Get quotes from removal companies and choose your mover in preparation (and book as soon as you have a completion date as they are very in demand right now).
- Be aware of schemes available to you. The stamp duty holiday is now tapered from 30th of June until the end of September. Only first time buyers can benefit from the new Help to Buy scheme and the current plan is to end it completely by 2023.