What should I do to get the best price for my house?
If you are selling your house, there are two things you can do to get the best price for your property. First, make sure you know your market and secondly, ensure your home is dressed to impress.
Knowing your market is all about being realistic. If other houses in your street are selling for £300K – adding on a massive extension or spending a huge amount of money on improvements to sell it for £500K won’t work. People don’t want to live in a £500K house on a £300K street.
Ultimately, your house is only worth what someone else is prepared to pay. So, do the research. Check sold prices on similar houses in your area, be aware of any changes in the market and price your property accordingly. Just hoping to get 10 per cent more isn’t a good strategy. If you pitch too high, buyers won’t go for it; they’ll either ask for a drop in price or you won’t get any offers. The property will start to look stale and become Groundhog Day fodder in the property listings.
Pitch it right and you’ve got their interest. Now you need to make a good first impression. Did you know that one in four homeowners surveyed said they knew within five minutes of walking in through the front door that they would make an offer on a property?
Dressing your house to impress will help prospective buyers to imagine themselves living in your house as they walk up to the front door. Don’t leave your car on the driveway, leave the space free so homebuyers can envisage their car pulling up. Clear away clutter so they can see themselves relaxing on the sofa or looking out on to the garden. Prospective buyers have got to like what they see and not be influenced by your personal belongings or décor.
The more they can imagine themselves living there, the more bargaining power you will have in the final offering price. If they get distracted by dirt, defects or damage, then it instantly acts as a barrier to their imagination and starts knocking down the price.
By taking a bit of time to improve the look of your house, both internally and externally, you can help make your house more attractive financially. Typically, a new kitchen can increase a property’s value by 4-6 per cent and a new bathroom by 2-3 per cent, but if the costs don’t justify the property’s value, check out our top 10 simple house improvements that you can do to add value to your home.
- Refurbish your front door. Give it a boost with a new lick of paint or a new shiny door number, brass handles or letterbox.
- Replace worn or stained carpets.
- Paint walls with neutral colours.
- Patch all cracks and holes in the ceilings and walls.
- Repair or remove anything broken.Wonky door handles, broken windows, sloping shelves can all be a turn off.
- Depersonalise rooms. Tidy away family photos and declutter.
- Hang a mirror in the hallway. It will add light and an illusion of space.
- Spruce up the kitchen - the showpiece of any home. If you can’t afford a kitchen renovation, then re-painting your cabinets or changing the handles can be cheaper option and effective.
- Mow the garden. Clear away weeds and sweep down paths.
- Give the whole property a thorough clean.