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2 NEWS How to increase your chances of selling your home by Christmas The additional stress of Christmas is enough to deter all but the most determined prospective homeowners from moving house over the festive period. However, for those who do wish to move ahead of the big day this year, a solid plan is essential. According to a new study by the HomeOwner’s Alliance, it now takes just 60 days to sell a property. This compares to a staggering 295 days two years ago. However, with the clock ticking, this means that those wishing to wrap up a sale by December 25 should be looking to get their home on the market no later than October 27. Klara Painter of House Buy Fast, says: “Despite the volatility of the current property market one thing is becoming more and more common - speedier sales. “Since the pandemic, the average time it takes to buy and sell a property has been coming down rapidly. And it now takes just 60 days to finalise a deal. “It means the race is really on once the For Sale sign goes up and what’s more, there are a number of things you can do to boost your chances of a quick sale. And the best news of all is it hardly costs you any money to put the measures in place.” Klara says the key to success lies in following the steps below: Find the right estate agent If you want to sell your house before Christmas, finding the estate agent you connect with is key. They will be the proxy between you and the potential buyers. Speak to a few agencies and apart from their sales pitch focus on basic things - do they answer the phone quickly? Do they respond to emails? Are they easy to talk to? Get your paperwork in order First off, you’ll need to prove who you are - you will have to present a valid passport and/or full driving licence, and a proof of address which usually has to be a paper version, awkward for many now so much is online only. You can also ask your bank for your latest statement printout. On top of that gather all the certificates, if you have any: FENSA (window certificate), gas checks, The EPC, electricity checks and any warranties for work carried out in your house. Get the house sale ready Let’s start with decluttering and hiding personal belongings – photos and valuables are best out of sight. Buyers need to be able to imagine themselves living there, not visiting somebody else’s house. Autumnal soft light is forgiving and hides many interior imperfections. Use it to your advantage. Open all the curtains, put shoes away, and clear the countertops. Bake a cake before the viewings - is there anything more inviting and cosy than the smell of a warm cake on a chilly day? Find motivated buyers The right buyers will speed up the sale massively. First-time buyers have the great advantage of being chain-free but they may be held up by mortgage issues so make sure the agent checks them out. Ask questions: is the buyers’ house on the market already? Has it sold? Have the buyers’ been issued section 21 if they’re renting? Gather all the data and make informed decisions. Sometimes accepting a lower offer may be the way to go if you want to sell your house before Christmas. Choose and instruct solicitors quickly Don’t leave choosing your solicitors to the last minute. Follow word of mouth, and ask around if someone completed the sale quickly. Remember that your solicitors do not need to have an office in your town. It helps though, you can sign and return documents fast instead of relying on the postal service. What if it hasn’t happened? Do not worry, on Boxing Day, when all the gifts are open, people sit on the sofa eating a leftover turkey sandwich and start dreaming of a new home. The leading property portal, Rightmove, recorded a big spike in website visits on Boxing Day last year. Who knows, yours could just be the home of their dreams!
3 Fixer uppers are most in-demand homes, with £29,000 lower price tag A new study of over 600,000 available properties on Rightmove reveals that homes in need of renovation are the most in demand among buyers, and are 8%, or £29,000, cheaper than the average property up for sale On the flip side, those looking for a newly refurbished home are paying a premium of 19%, or almost £70,000, with ‘refurbished’ also making the top ten of most indemand features for buyers, at number seven in the list After renovation projects, homes with new boilers, double glazing, loft conversions and storage space attract the most attention, while chain free homes and those with a garden and near stations all make the top ten For renters, double glazing, smart technology, and being near a station are the top three features that attract the most demand A new study by the UK’s biggest property website Rightmove reveals the home features that are driving the most enquiries from home-movers to agents, with fixer upper homes coming out in the number one spot for buyers. The unique study analyses what matters most to buyers and renters at the stage when they are seriously considering viewing a property by sending an enquiry to an estate or letting agent. Rightmove created the demand rankings by analysing hundreds of different features mentioned by estate and letting agents in over 600,000 property descriptions and the subsequent enquiries that were being sent to them. What buyers are looking for Fixer upper homes or those that say they are in need of refurbishment topping the list is likely because of two groups of buyers competing for this type of home: first-time buyers looking for a cheaper property to get on the ladder that they can refurbish over time as they save up enough money, and investors looking to grab a relative bargain and do it up to sell on or rent out. The average asking price of a fixer upper home is £336,979, which is 8% (£29,302) lower than the current national average asking price of £366,281 for all types of home. Buyers looking for a home that is already refurbished, which also makes the top ten list in position seven, are paying an average of 19% more than the national average asking price, at £435,874 (+£69,593). The other most popular buyer features reveal the importance of there being enough storage space and a garden, the desire for a property to be chain free, and basic energy efficient features such as double glazing and a new boiler. Being near a station is also still a priority, in at number ten, despite the rise of working from home for many. What renters are looking for As renters aren’t able to make significant changes to the property, they are looking to ensure it has double glazing, smart technology such as a smart heating system, a new boiler, and is more energy efficient try and keep down their energy bills. Being near a station ranks higher for renters than for buyers, as well as home features which add storage space such as a basement, attic or shed. A parking space is also a priority for many renters, and properties which are open plan also make the top ten list. Tim Bannister, Rightmove’s property expert said: “This new study could help sellers and landlords when they’re thinking about the different features to highlight on their property listing. It may not seem important to mention that a property has storage space or a new boiler, but our study shows this could make a difference when prospective buyers and renters are deciding which homes to go and view. It also shows the different priorities that home-movers have – some are in a more fortunate position to be able to consider buying a newly refurbished home, while others want to put their own stamp on a home and do it up from scratch, or they may realise that if they buy now they can spend time doing up the house a room at a time.” Most in demand features for buyers and renters Buyers Renovation project (incl. fixer upper, in need of refurb etc) New boiler Renters Double glazing Smart technology, such as a smart heating system Loft conversion Storage space Cellar Double glazing Refurbished Chain free Garden Near station Near station Parking space Basement New boiler Shed Attic Energy Efficient Open Plan www.thepropertydrop.co.uk 01600 717255 info@thepropertydrop.co.uk Whilst every care is taken with materials submitted to The Property Drop the publisher cannot accept responsibility for loss or damage to such materials. Opinions expressed in articles are strictly those of the authors. This publication is copyright bedroom and may not be reproduced in any form without written permission from the publishers. Prices and details are subject to change and the publisher can take no responsibility for omissions or errors. The inclusion of an advertiser in this paper is not necessarily a recommendation. ©The Property Drop 2023. bathroom The icons under the properties throughout Property Drop indicate the following: bedroom bathroom living room etc bathroom bedroom bedroom Number of bedrooms bedroom living room etc Number bathroom of bathroom living room central etc heating bathroom garage/covered parking central heating garage/covered parking living room etc bedroom living room etc living room etc reception rooms central heating garage/covered parking Number of bathrooms garage/covered parking central heating central heating central heating parking parking ELECTRIC Method of central heating Covered garage parking parking Parking space garage/covered parking parking garage/covered parking parking
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