Putting your property up for sale and moving home can be tricky business, particularly if you’re not familiar with the current housing market.
How do you know what potential buyers are looking for, how do you know you’ve got the right asking price and what do you need to look for with your next purchase?
These are all questions every house seller and buyer should be asking when they’re looking to move, according to Louisa Fletcher.
The property expert has revealed her top tips to remember during the selling and buying process.
Be realistic about your asking price
A lot of agents will be quite “bold” when they value your property – that’s great because they obviously want to get you the best price, and if they can achieve that then great. But realistically they’re going to value your property at an asking price and you may or may not achieve that. They put it on the market for that so there’s a bit of negotiating room in order to get you a realistic price.
Here is where you need to be smart – you need to make sure that that price is achievable of course. Take your agents advice – that’s great – but do a little bit of your own research too.
Go online, have a look at comparable properties, use those search engines – Rightmove, Zoopla OnTheMarket – have a look, see what’s available that’s like your property that you want to sell and then you can decide whether or not your asking price is going to be realistic and competitive.
The other thing you could do is perhaps have a look online and have a look to see what properties have sold for in your street and again that’s a really realistic benchmark.
Only look within the last six months though because realistically a market moves beyond that, but anything within six months that will give you a good idea of what stuff is selling for.
Don’t predicate your next purchase on the asking price of your property
Thinking about your next purchase don’t predicate that on the asking price of your property. If it goes on the market for say £275,000 but actually you sell it for £260,000, but you’ve set your heart on property for £325,000 but you can only buy that property if you sell yours at £275,000, you might find your budget’s a bit out if you accept a lower offer.
So realistically, when you’re looking at your next purchase, think very carefully about how it works out if you accept a lower price than your asking price. That’s really important and it catches a lot of…