It is broadly recognized that to make money you have to spend money nevertheless this could not be the case for proprietors wanting to give their property a fresh look in order to sell.
Data has been released by TrustMark showing that damaged housing or housing that hasn’t been repaired properly can reduce its selling value by 11%. Information held by a trade scheme endorsed by the government found over 50% of possible buyers would disregard a property all together and 90% would put in a lower offer to the asking price purely on the upkeep of the house.
When improving your property, a little touch up with paint in each room can really bring the place to life and potentially bring the asking price up. Many property owners do not always do a good enough job when preparing their house for selling, be cautious when it comes to the capabilities of whomever is preparing the house.
Putting on those overalls and completing the job yourself can be a satisfying experience and the amount of money you will be saving on tradesman makes it look all worthwhile, nether the less a 3 bedroom house in the uk is priced around 218,779 you could be losing around 24,000 and that’s not even including the cost of materials used when preparing the house and the amount of time it will take to do so.
There are a number of way to save money when selling your house, with the help of online estate agents it is now easier, quicker and a cost effective way of selling your house. It diverts you away from expensive traditional estate agents.
Technology has advanced immensely over the years and has produced many time compressing solutions, giving ideas to home owners on ways to sell their property beneficial to them.
It is all well and good to take a ‘do it yourself’ approach when sprucing up your home but be sure that installations and fix ups are done properly so that future owners don’t have problems when it is theirs. You cannot leave it in a hazardous state.
It is easy to detect unprofessional developments within a property and buyers would probably reduce their asking price, it may be beneficial to not renovate the property at all, it would surely be less expensive.
Property Expert Russell Quirk, CEO of eMoov.co.uk commented “Preparing your house for sale with a spot of DIY can help you achieve a better price of sale. However, it is important to point out that fixing up your property will not guarantee you a better sale price. For example, some buyers will prefer to buy a project house. Likewise, a number of buyers would always replace the kitchen and bathroom in a property and wouldn’t pay a premium for one newly installed. The majority of buyers will use any negatives about a property to try and negotiate a lower price. It’s for the seller to weigh up the cost of DIY, their time and the price they want to sell their property for.“
With this in mind here are some property dos and don’ts:
- A lick of paint on each wall of the house can increase property value by making it look completely fresh and new and I buyer could imagine themselves in.
- Make sure the upkeep of the garden has been to a high standard, clearing up the fallen leaves, trimming the bushes and mowing the lawn can go a long way in making the home feel looked after
- Clear up the whole house make it almost look simple and tidy so that the buyer can imagine it with their things inside, almost like a blank canvas.
- Distinctive features like a fireplace or traditional wooden beams add to the sale value, people like the warm and homely which is what features like this bring.
- Do not try and emend the gas or electricity unless you have the qualifications, these components to the house are very important in order for the buyer to live in the home and become a very costly job if these components need rewiring.
- Don’t fork out a ton of money for new appliances; a buyer usually has their own vision for the home.
- If you are going the do up your property make sure you do it properly, if a lot of work is needed to be done don’t think that there wont be a potential buyer as many have their own ideas of what they would like the home to look like on the inside. But you want it to look close to ready for a buyer to move in straight away.
- If the property does need a little more work for it to be ready then it is probably best to accept this within the asking price.
Information by The UK’s Leading online estate agent Emoov.co.uk