Having trouble selling your house?
As the economy settles it is clear that the buyer’s market is back. Rightmove.co.uk, the country’s largest property portal, reported in March that asking prices barely moved — rising by a meagre 0.1%. The survey results marked the lowest increase for the month since it began compiling its indices in 2002, and well below the average for March, at 1.3%.
Rightmove.co.uk still forecasts rises in the first half of this year once buyers have picked over the newly marketed stock. However, the small increase in March shows how much more unpredictable the market has become.
Several factors could have contributed to this drop - from pre-election jitters to the realisation that there are tough times ahead as announced recently by the Coalition Government . On the other hand, Rightmove.co.uk reports an increase in the number of homes coming onto the market. According to the same survey, new property listings are at the highest point in 18 months. The figure is up 17.5% from last month’s level. With public spend falling and taxes likely to rise, sellers could find it harder to shift their homes this quarter.
Endsleigh, a leading provider of online home insurance policies, offers some simple steps to help sellers make homes more appealing to buyers. There’s more to successfully selling a house than a lower price and some cookies in the oven on open day. Estate agents suggest homeowners that follow the ‘three Ps’ approach are more likely to sell their properties faster.
Pricing
Pricing your home is part art and part science, and no two agents will price your property the same way. Start by researching what similar properties to yours recently sold for, and what prices similar properties to yours are currently being advertised for. Then also take the current state of the property market into account.
Once you have settled on a price, think about what you want to include in the sale. Fixtures and fittings such as fitted storage heaters are included in the price, but other moveable items can be offered to sweeten the deal.
Promotion
If you choose to sell privately you will have to promote your home yourself. Newspaper adverts, for-sale signboards and word-of-mouth are all popular traditional methods of promoting your home, but the Internet can now open plenty of channels and help you gain maximum exposure. In addition, plenty of useful information exists online to assist first time sellers. If you are selling through an agency, they will do most of the work for you.
Presentation
First impressions count so put yourself in the buyers' shoes and think about how you can enhance your property's appeal. Consider you homes ‘kerb appeal’ – it is usually the first thing potential buyers will assess. Take an objective look at your home’s exterior and consider smartening it up with a touch of paint or the addition of some attractive pot plants. Potential buyers will also want to visualise how they could fill the interior with their own possessions, so keep rooms clutter free and clean at all times.
When you do sell your home, leave a good impression by leaving the property clean and ready for the new owners. Check your home insurance policy to make sure your home contents are covered for the move before you start to load the van. For more information on home insurance and applicable home contents insurance during a move, visit Endsleigh today.
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