Selling your home when interest rates are high can be a challenge, but there are things you can do to entice buyers and make sure your home is their first choice.
There are several things you can do to improve the appeal of your property and ensure that you address anything that could put off potential buyers.
If you’re selling your home, it’s important that you consider the type of buyer looking for a home like yours and minimise the reasons for buyers to negotiate on the sale price.
Plumbing
Patched-up pipes, squeaky cisterns and leaks will be picked up when people view your home. If you carry out makeshift repairs, it could come back to bite you when the new buyer moves in and reports faults that they weren’t aware of when they put in an offer. The kitchen is the room that buyers viewing your home spend the longest amount of time in – often using this space to discuss the property, ask the viewing agent questions and picture themselves in your home. Make sure that everything is in working order and fix any leaks or dripping taps and pay particular attention to any leaks around the boiler or water tank.
Lack of parking
A lack of secure parking can push up the price of insurance premiums. In addition, for families with young children, being able to park close to the house is essential. According to a survey from the Porcelain Superstore, 84% of buyers wouldn’t consider a home without a driveway. If you have a front garden that isn’t utilised you may want to convert an area into a parking space, so talk to the council about dropping your kerb to allow parking outside your home. This is especially important for buyers who have electric cars and want somewhere easily accessible and safe to charge their car.
Garden
During the pandemic, we all appreciated the importance of having a garden. Outside space is essential for many buyers and an unkempt, messy garden that looks like it needs a lot of work initially and then maintenance thereafter can be a huge turn-off. It’s worth tidying up a garden and making it low maintenance by adding paving, decking or good quality lawn. If the outside space is small there are plenty of ideas online to help you make the most of this space and make it appear more useable. Dress the space as you would inside – a table, chairs, shade and soft furnishings can help buyers picture themselves socialising outside in good weather.
Kerb appeal
Maximising your kerb appeal is essential because first impressions last. It will also generate more interest when people see the For Sale board outside a well-presented home. Make sure your door furniture is clean and in good order, your path is clean and clear from debris and your front garden or driveway is well presented and appealing.
Interior condition
According to the survey by Porcelain Superstore, most respondents expected that they would need to undertake some decorating but 86% drew the line at installing a new bathroom or kitchen. However, 56% of buyers would refuse to purchase a house if they disliked the existing décor – so it’s important to try to sell your home in a ‘neutral’ condition inside. The top colour for the desired living room was white, followed by grey and blue. A white bathroom and kitchen were also the top in-demand colours. Finally, 64% of respondents said they wouldn’t buy a dirty home as it’s a sign of poor maintenance, so make sure your property is sparkling clean before you put it on the market.
Price
High valuations were a huge turn-off for buyers as no one wants to pay over the odds. It’s better to have a realistic valuation, which will in turn lead to more viewings and more competition for our home, driving up the price. With high interest rates, buyers have less money to negotiate with so it’s essential that you get realistic valuations and price your home to sell in today’s market.
Talk to us at Talk Mortgages if you would like more advice on maximising the sale price of your home.
