According to Rightmove.co.uk fewer properties have been put up for sale now than this time a year ago with the average house priced at a whopping £286,133.
Prices in London have seen the steepest increase with up to 50% added to their value compared to back in 2010 when the last election took place.
So with house prices rising and less people buying how do you sell your home? Here are some top tips for selling your home with the aim of making its full value shine through.
- Weigh up the value of each improvement
With the increase in housing values some buyers will want to see more for their money. If you feel tempted to add some improvements to your home follow some simple rules.
A study by Nationwide Building Society produced an easy calculation to help sellers see how much value can be added to their home via improvements. They found that adding an extra useable bedroom (one that can fit a double bed and storage) adds approx. 15% to the value of your home, adding an extra bathroom adds an estimated 7% to the value of your home, extending your living space by perhaps adding a conservatory, a single story extension or converting your garage adds approx. 7% to the value of your home. If your property does not have parking and you convert our garden or front of house area to a driveway this can add 15% to the value of your home when in London and 10% elsewhere in the UK. The moral is, to weigh up the value of your home, the % increase the improvement would add and against how much it would cost to do. Small investments like a driveway at £2-5k can yield a £37k increase in value to a home worth £250k.
- Consider going it alone
On a home worth £250k you are likely to pay 1.5% in estate agent fees along with VAT. For that £4,500 you are likely to get an online posting on the agency website, a listing on property search directories like Rightmove and a property information document. For just £495 you can get the same level of service but far more control using an online agent like http://www.tepilo.com.
Image from www.flickr.com
Tepilo is the work of Sarah Beeney, well known TV personality and property expert. The idea is that you upload your own photos, description, set your own price point and the property is listed on all the directories. You are not left in the dark either, there are online guides to valuation, providing documentation, how to write your property specification, and how to take the best images.
One massive benefit is being able to monitor views and responses. It is worth seeing how your home compares to others on the site, perhaps look at how many views convert to actual home visits and so on. If you have the time and the creative flair you will truly enjoy selling your home online, by yourself.
- It’s what’s on the outside that matters
A majority of home buyers will drive by the property they have booked a viewing for before the day. We like to double check what we are viewing before we actually view it… the typical British way. If we drive by a property and the exterior is messy, perhaps the building work is not finished, rubbish or compost is in piles outside or the front door needs painting we may not book to view the inside. We judge on first appearances and a poor exterior could reflect a poor interior.
Image from www.traffordhousingtrust.co.uk
- Consider your target audience
Remember to treat your home like a product. It needs a target market and strong benefits or features that will be attractive to this audience.
Do not allow personal preferences to cloud your judgement or hinder how you portray your home. A good example is when rooms are used for other purposes or converted. If a home is advertised as a 4 bed then make sure each of the four rooms is decorated as a bedroom. If one of the rooms is a junk room or perhaps a study the viewer will not visualise it as an extra room and cannot see its value.
The same applies to garages. A survey by Nationwide found that home buyers wanted a garage more than an extra ground floor room or extension of space. The garage is seen not just for a car but mainly as a storage space. If you use clever storage solutions like Garage Storage Solutions you can maximise the space and show its purpose and its value.
Image from http://storagemaker.co.uk/
If you do want to add extra space make sure it is useable 365 days of the year. Some conservatries are only useable in the summer months and not treated as a permanent useable room. If your conservatory is the same consider means of insulation or ventilation to make the area a permanent extension of the home.
Try and make an environment that the buyer can aspire to. Ever looked at a show home and wished you could move straight in? Get your favourite coffee machine out, your nice crockery and clear the clutter. Make your home look desirable with fixtures and fittings.
These easy steps are all things you can do yourself with little to no cost. Good Luck!
Written by Peter Boyce at Bedroom Storage Maker, providers of Bedroom Storage.