As of June 2016, the average house in the UK took just 57 days to sell – a record low.
However, for many homeowners, the waiting game can often mean having to delay plans to move into somewhere new, or use the capital from the sale to fund other dreams such as travel or retirement abroad. A market that’s too hot will leave buyers with the upper hand, while a market too cold can mean a lack of interest sees your property sit on the market for longer than desired.
So what’s a homeowner in a hurry to do?
If you want to reduce the time it takes to sell your home, there are a few things you can do that can expedite the process. Depending on your budget, home renovation skills, eye for detail and timescale, you may choose to do a combination of any of the following to move things along a little quicker.
Consider alternatives to the open market
If you are in a real hurry to sell, it may be that you don’t even have the time to consider putting your property out on the open market.
There are some alternatives available if you want to sell your property quickly, one of which may be selling to a quick homebuyer. These are professional Real Estate Property Buyer companies who specialize in the fast acquisition of residential homes, often regardless of location and property condition (so long as it’s mortgageable). However, not all quick home buying companies are made equal, so it’s important to do your due diligence before making your choice (look for a company that is monitored by the Property Ombudsman and is ideally a member of trade bodies such as The British Property Federation (BPF) or the National Association of Property Buyers). Other options for a fast home sale include choosing to sell your property at auction, or to sell yourself privately to an investor.
If you are planning on selling on the open market, then you can make a few modifications to the property to increase it’s value and improve the chances of a fast sale.
Fix it!
Some home improvements add value to help the property sell quicker, but repairs are essential for helping it to sell at all.
Structural defects can be an instant turn off to prospective buyers who are not in want of a project, and while those who would consider a fixer-upper often use these issues to drive down the price. It may often be that some buyers will make a conditional offer on the premise that structural issues are seen to before any purchase is complete, which can hold up the sale. Some structural defects include:
- Damp and leaks
- Rotting joists or timber
- Cracks in walls/damage to weight-bearing beams
- Missing rooftiles or gutters
- Flooring and sub-flooring defects
If you own a period property, you could be at slightly higher risk of these and other issues occurring. If you want any chance of being able to sell, you should ensure structural issues are seen to before turning your attention to cosmetic improvements. Have these structural issues fixed before selling your house. For your trusses you can look for a Timber Roof Truss Supplier for a variety of timber frame systems. If you need to do some roof repairs and replacement, make sure to contact a professional roofing contractor.
Add value
Looking for ways you can upgrade your home to make it appealing to buyers is key. One effective upgrade is to invest in your roof. By hiring professionals like Roofer Needham, you can ensure that your roof is expertly installed or repaired, enhancing both the aesthetic appeal and the overall value of your home.
Adding value in properties that are in newer areas and are generally appealing to buyers who want a turnkey, move-in ready home is especially important if you want a fast sale. There are a number of ways you can improve the value of your property:
Renovate the kitchen and bathroom.
According to findings from AMA Research on kitchen and bathroom products (found in the “Housebuilding Market Report – UK 2016-2020 Analysis”), the market for these products increased by 12 per cent in 2015, reaching a value of more than £700 million. The kitchen commands the most money per square foot in a home, making it your property’s most valuable room, so it’s perhaps no surprise kitchen appliances accounted for the biggest sector of the kitchen and bathroom products within the house builders market. There are other things you can consider if budget is an issue however, such as renovating kitchen cabinetry or improving counter tops.
Improve the property’s electricity and gas
You can carry out the basics by ensuring the gas and electricity is sound behind the walls, but you can also add value by improving things like electrical plates throughout the home. You may consider adding more power points if safe to do so, or replacing old plates and covers with something more contemporary. Many newer homes opt for things like USB or iPhone charging wall points throughout the house as well, which can create an ultra modern feel.
Consider a conversion
Economists at Nationwide believe that adding a loft conversion can improve a property’s value by as much as 20 per cent, however, this is not necessarily a quick process. You’ll need to obtain planning permission, after which you should factor in an average of four to six weeks for build time – and that’s assuming there’s nothing untoward uncovered that could delay the process. However, if you are able to part with the money and factor in your build to your pre-sale preparations, you may well find that your property shifts much faster when it does come to putting it on the market.
Clean and declutter
If you don’t have the time or financial resources to make home improvements, you can often make the property seem more appealing to prospective buyers with a simple once-over.
This is important before advertising the property online, and when staging the property for viewing. Clear away clutter such as children’s toys, miscellaneous paperwork, and anything taking up space on surfaces in the kitchen. Mirrors can maximise natural light in small rooms if they’re well positioned, while artificial light can add ambience in other rooms. Make sure the property smells pleasant and is free from odours that can arise as a result of rubbish lying around, smoking or pets. You may also want to light scented candles or even leave out freshly baked cookies to create an inviting scent in the house.
