The bitter pills you may have to swallow when selling your home
No matter how vibrant the property market, selling your home is always a challenge. There are some things about your property that you won’t be able to change, which could mean you have some bitter pills to swallow when your home goes on the market. Just like life, there can be unexpected surprises during the process of a house sale. But before you choke when you’re presented with a pill you don’t like the sound of, we’ve got some advice to help you to swallow it and get moving.
You may not get a return on your upgrades
As you know, the property market has peaks and troughs. What a property is worth today could change in a few months’ time. It doesn’t matter how much money you’ve spent upgrading your property, there will be a ceiling price it can achieve, depending on your home and of course that all-important location. Any renovations or home improvements should only be made for your enjoyment – unless you do your research first.
You need to ensure that the money you invest in your home can be recouped. The price of a new kitchen can vary dramatically, from an off the shelf model to a bespoke design with high-end appliances. There is no doubt that an upgraded kitchen will absolutely add appeal to your home and attract potential buyers, but you’d be wrong to assume you can simply add the total cost you’ve spent on it to the value of your home. Of course, your new kitchen will have added value to your property, but the sale price will be determined by market conditions not by your choice of interior finishes.
Don’t rely on the Joneses
How many times at NEXA have we heard, “our neighbour’s house sold for XXX so we think our home is worth XXX”. It’s a hard pill to swallow, but just because your homes look alike, don’t assume they will sell for the same amount – they could be valued differently. They may have made upgrades that you haven’t, their plot could be a different size, or the property market in your area could have changed. It’s hard, when you are emotionally attached to your home, to hear that it’s not worth as much as you expected, but we would highly recommend that you listen to our advice.
We value a property to SELL at the highest possible price; we don’t over value your home to WIN your business. So if you do receive a high valuation from another agent, ask about their results to check that they achieve their valuations as sale prices without having to reduce the value when buyers don’t bite.
Having to keep your home viewing ready
You have spent time and energy getting your home ready for sale, our photographer and videographer have visited and the marketing materials are now selling the beauty and key features of your wonderful home. But now life is continuing, kids are leaving a trail of destruction in their wake, you’re shattered after a busy day at work and the show home shine you had created has suddenly disappeared.
Buyers always say how much easier it is to envision themselves living in a home when it has been staged ready for sale. At NEXA, we aim to get viewings and a buyer for your property as soon as possible, so if you can try and keep it looking immaculate it will really help your sale. We know for parents this can be the last thing you want to be doing some days, so we completely understand that this is one bitter pill to swallow. As soon as an offer has been accepted you can breathe a sigh of relief and allow normal life to continue without worrying about whether your home looks perfect.
Your home is not for everyone
Ouch! You love your home and you’ve decorated it and furnished it with your style in mind. But just as we don’t all like the same cars, clothes and football teams, we all don’t like the same houses. Period property lovers will be looking for features, contemporary lovers for sleek clean lines; open-plan living will appeal to many, whereas others will want the privacy of separate spaces. Although you cannot change the location and layout of your property, you can tone down any bold décor, make sure it’s in great condition and use home staging techniques to make it appeal to a wider audience.
A sale is the best medicine
As your estate agent, we don’t want you to have to swallow any bitter pills, and we hope you’ll trust that we only have you and your home’s best interests at heart. The best medicine we can offer you is an offer from a qualified and determined buyer that is a heartbeat away from the asking price. For more advice on selling your home, contact our team today.