Information on Newbury Building Society's 163rd Annual General Meeting.
With spring now in full bloom, the property market is booming as the number of buyers actively looking to purchase a new home traditionally increases during March to June.
Spring and summer is a busy time of year for house selling as gardens are flourishing, the evenings are lighter and families look to match their purchase with the end of the school year. Many homeowners chose this time of the year to put their properties on the market.
However, with a flurry of new properties on the market, it also means these sellers have a lot of competition. OnePoll.com has recently reported that it takes just eight minutes for a propspective buyer to know whether a house is for them or not. So, if your home is not ticking the boxes straight away, you could lose out to the competition.
So what can you do to maximise your chances of getting the sale you’re after? Here are four things to consider:
Spruce up the front
Did you know that six in ten adults will make their decision not to buy a property before even stepping through the front door, but after just four and a half minutes of standing outside? First impressions count so it is important to put the same amount of effort making the outside look as presentable as the inside. Cutting the grass, cleaning the windows, replenishing hanging baskets and ensuring bins are out of view can all help in making your home feel more inviting and might help secure an offer.
Declutter and dump the junk
Take the opportunity to declutter now, instead of waiting until you start packing to move. Potential purchasers want to be able to visualise how their personal belongings will look in the house. This means that stacks of magazines, holiday souvenirs and an unruly bathroom can be distracting and draw attention away from the positive aspects you should be emphasising. Depersonalising the property may be uncomfortable for you, but in the long run it will help prospective buyers feel welcome and imagine themselves and their family in the house – not yours.
Choose a reputable estate agent
It is the job of an estate agent to market your home, therefore, it is important that you shop around and find a good one. You need an estate agent who will book as many viewings as possible, has great knowledge of the local area and who understands the positives of your property, e.g. location and public transport links. You should compare commission fees and ask around for recommendations to get first-hand feedback of who you should go with – and who you should avoid.
Price it correctly
Establishing the right price to sell your property for isn’t easy. It’s tempting to try and get as much as possible, but this this could actually deter buyers from taking an interest. Do your research to get a feel of what other properties in your area are priced at. In addition, ask your estate agent for their advice as they will be able to comment on buyer trends in your area. Be warned: if you’re finding it hard to shift your property at any point, you may need to be prepared to lower the price. It may be a bitter pill to swallow at the time, but it could be worthwhile if it enables you to make your next home move.
The most important thing to remember is to take your time. Properties don't usually sell overnight, but there are a few things you can do to help move the process forward.
If you’re looking to move and would like advice on which mortgage might be suitable for your next purchase, visit your local branch or contact us to book an appointment with one of our qualified mortgage advisers.
You can also read our Moving Home pages which provide details on how we can help and helpful moving countdown checklists!
We wish you every success in selling this summer!