Are you planning on putting your property on the market this year? If so, this blog post is here for you. Read on to discover everything you need to know, including useful tips on preparation, as well as some critical information about property prices:
It’s not as dramatic as it seems!
There is nothing like the news to make you think the world is ending, we are all going to lose our jobs, and our house will never sell. But is it really that dramatic? Take these reports and stories about the housing market with a pinch of salt! Data can be manipulated in so many different ways in order to create a desired story. So, ‘house prices are falling and show no signs of improving’ they say, but on what basis have they come to this conclusion?
You don’t know what data they have analyzed and what they have taken into account. These conflicting news reports can be enough to make anyone worried, but don’t let them concern you and certainly don’t allow them to force you into a knee-jerk reaction, such as altering your asking price. If you have done your research – assessed comparable properties in the nationwide and especially the local market – whilst having your property valued by several estate agents, you have nothing to be worried about. Confidence is key!
Why you need a Rightmove Comparison Report:
What is a Rightmove Comparison Report? Essentially, this tool helps you to come to a decision regarding what your house is worth. It gathers relevant data regarding the prices achieved for recent sales, as well as the asking prices of properties currently on the market. Rightmove is undoubtedly one of the most trusted companies in the UK. All you need to do is enter your postcode, the radius of which you would like them to search (i.e. within ½ a mile), your property type, and how many bedrooms you have. Once you have done all of this Rightmove will do the hard work for you and provide you with the figures you need.
This comparison report can be a very effective tool. You can use it to make sure your property is not priced too high in relation to similar ones in your area, or on the other hand to make sure it is not priced too cheaply. You can also see whether the sold prices are much different from the current asking prices. Is there a trend for the sort of price that is attracting offers? Not only should you use this report, but you should also make sure you get your property inspected before it goes on the market. A free roof inspection and other services like this will ensure everything is fine so that viewers can’t drum down your asking price.
The value of a good school:
To get your pricing right you need to have a good idea of what drives home values. Let’s take a look at what direct factors influence the price of your home:
- Community/Neighborhood – Your local area plays a huge role in determining the value of your property. What are services like in the area? Is there a thriving business district? Does the neighborhood have a friendly and safe feel? If you are situated in an area that is well known for crime your property’s value will suffer massively!
- Transportation – Easy access in and out of the area can affect the value of your property. If you are situated near access to the motorway and there is a good selection of public transport in the area you can be sure this will positively impact the value of your home.
- Schools – When it comes to family homes, there is a strong relationship between solid property values and good schools.
- Amenities – Finally, is everything the buyer needs nearby? From schools and parks, to libraries and bike paths – these are all factors that enhance property value, because they enhance what the buyer has by their doorstep should they decide to purchase your home.
How to convince the buyer that your asking price is right:
If your property has been on the market for a while and you are getting the sense that buyers feel it is a bit pricey, you need to prove to them that it is worth the money you are asking for. You are happy with your asking price. Your estate agent is happy with it too. You took advice from several agents and choose your asking price based on what they had to say. So, what’s the problem?
The trouble is, the buyer can prove to be more knowledgeable than you and even the estate agent when it comes to home prices! After all, they are in the business for finding a house, so they are comparing prices and properties all of the time. The solution? You need to put improvements in place to convince the buyer that your property is certainly worth what you are asking for. This is where your photographs, online listing, and brochure really come into account. Marketing is everything to ensure you sell the house and the lifestyle to the buyer. Also, make sure your home is presented impeccably – presentation and features are so important!
Get your house sold and move onto the new chapter in your life with the tips above!
Featured Image By: Pixabay