It’s the start of a brand new year in the market, with buyers and sellers alike preparing to fulfil their New Year’s Resolutions and make their move. Market conditions appear to have stabilised after December’s general election brought with it a majority Conservative Government, but what can you do to give yourself the best chance of a successful transaction? Read our top tips for Buyers and Sellers below.
BUYERS TIPS
Research, Research, Research
As clichéd as it sounds, buyers who prepare sufficiently are more likely to end up with a better deal for the home they’re looking for. Once you’ve made the decision to begin house hunting, look into sale and listing prices for properties in the local areas that you’re interested in; this will give you a rough guide as to how much you can expect to spend.
Prepare your mortgage
If you’re house-hunting in a competitive area where properties are quickly snapped up, then getting a mortgage agreement in principle will give you an advantage when you find the property that you want. Having your finances in order and prepared can save time and prove invaluable if the home you want is likely to generate significant local interest.
Check the Home Report
Make sure you check the home report (Scotland) and the surveyor’s comments before you offer. This survey flags up any major issues or elements of the property that require attention, such as urgent defects or structural concerns. Depending on the age of the building, you could find yourself a wildly fluctuating amount of work to carry out, especially if previous owners have neglected its upkeep. Either way, this is an invaluable belts and braces report of the property and will provide peace of mind in any outcome. If it’s more than 3 months old once you have had an offer accepted, insist on the seller getting a refresh so it’s up to date. If a long time has passed since it was first listed it could be there is other issues you need to be aware of that could affect your initial offer price.
SELLERS TIPS
Research, Research, Research
Preparation is key for sellers, too! Make sure you know your property’s true value before it’s listed; carry out a full appraisal of your home with a trusted agent and not just an instant valuation to get a clear idea of what your property is worth. Inviting valuers into your home can also provide you with a fresh set of eyes which can be useful in flagging up any existing issues or reminding you of a few flaws that could require attention before going to market, too. Some even provide more specialist knowledge than just a valuation.
Find ways to add more value
If you’re looking for ways to add more worth to your property, then carrying out home improvement projects will certainly aid you. These can be relatively simple tasks, such as installing double glazing or adding extra insulation to your loft, or bigger jobs such as renovating your kitchen. Whilst the cost associated with these projects may be off-putting, it may pay off when it comes to increasing your home’s value. But ask the professionals first if it’s worth doing before doing it.
Declutter and organise
Take a look at each room in your house and you’ll likely find a few easy ways of decluttering and making extra space. This is vital for the viewing process as potential buyers need to be able to picture themselves living in this space, and in some rooms, it’s as easy as clearing a few worktops or mantlepieces.
In today’s market, preparation really is key whether you’re buying or selling. Carry out your market research, get your finances and paperwork and make sure you utilise a knowledgeable and local agent to help you through the process. One that has a consistent track record, years of experience and is an expert in their field. One that embraces and uses new technology and media marketing to hit specific target markets for your property rather than one that will put it on a few big websites and hope for the best. Proactive rather than reactive.
