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House buying & selling tips

Selling your home

Pricing your property correctly is vital.

Things to consider prior to setting the market price are...

Property unprofessionally altered
Bad neighbourhood or schools
Too high an asking price
Poor general condition of the property
Requiring significant improvements or restorative work

Condition of the property

Consider your property from a buyers point of view.

Timescales

How long do you have to sell your property? If you want the full price for your house be prepared to wait for the right buyer. If you want to sell within a timescale you may want to lower the price, or even offer a fixed price for your home. Consider multiple simultaneous ways such as selling-online, estate agents or independently. Find the right balance for your circumstances.

Neighbourhood

Provide local details such as schools, amenities, transport, road access or new housing building proposals. This can affect the demand for housing in an area therefore raising the value of your property.

Competition

Find out if there are similar properties on sale nearby? This may affect your sale.

Estate agents

Estate agents usually charge 1-3% plus advertising fee. Alternatively you can sell online without the aid of an estate agent and save money. If you do choose an estate agent to sell your property on your behalf, they should have all the relevant qualifications and experience of selling similar properties in your area.

Stamp duty

You will have to pay stamp duty on the sale of your house if it sells for more than £120.000 as the government introduced legislation in March 2005 increasing the threshold from £50,000 to £120,000.

Payable stamp duty
Under £120,000		0% of total sale price
£120,000-£250,000		1%
£250,000-£500,000		3%
£500,000 and over		4%

Budget for improvements and alterations

To boost property value, it is recommended that you carry out minor improvements like painting and carpet cleaning rather than more expensive changes such as a new kitchen or adding a garage, as these don’t always recoup the costs on sale price. DIY can save money but be careful work is done to a high standard throughout.

House Selling Tips

		Standards
		Any project undertaken should be completed thoroughly and professionally throughout. Buyers are on the look out for faults and poor work in your property so cast a critical eye over every tiny detail. Make a conscious effort to improve the standard of the property. Consider new fittings, lighting and external appearance. The outside of the property is the first sight a potential buyer gets so make sure that there is nothing that can be off putting. Give thought to exterior painting, pointing, woodwork, garden and clutter prior to viewing.

		Decoration
		Any colours should be neutral and unlikely to put buyers off. You are trying to attract as many potential buyers as possible rather than make a home too personal or specific. Buyers wont want to pay for something that they want replaced.

		Costs
		Consider your budget and any time constraints before starting any work.

		Selling Points when advertising
		What are the good and bad points of your property? Emphasise the good points such as storage, garden space, views, and unique external or architectural features. Include information on local amenities such as schools, travel, and shops.

		Alterations
		Note that undertaking major changes such as installing a new bathroom or double glazing can be time consuming and expensive. Be aware if you add items to a property you intend to sell you may not re-coup costs in the sale. However these can be positive selling points depending on the market you are selling to.

		Small improvements
		Property experts recommend smaller cosmetic changes such as: internal paint work, cleaning carpets, plastering, new rugs, superficial changes to your garden and new door fittings etc.

		Consistency
		Sellers are not advised to spend most of the budget on one part of the house making the rest of the property look worn out. Make sure all work is of a consistent standard throughout.

Preparing your property for viewing

Here are 6 simple ways in which to boost the value of your home.

Tidy the garden, path and front of property.
Consider cosmetic improvements inside the house like re-decoration and the cleaning of carpets
Make sure there are no pet smells.
Ensure the house is clean, tidy and free of clutter when viewed.
Ensure all heating systems and alarms etc are working prior to viewing.
Ensure the house is a pleasant temperature as viewers can be put off if it's cold and unwelcoming.