Property Selling Advice - New research reveals how to maximise your home's value!

publication date: Jul 20, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Property Selling Advice

New research reveals how to maximise your home's value!

To sell a home in the current difficult market, it’s essential to understand what buyers are looking for so you can maximise the number of offers and sale price of your home.

In today’s market, buyers split into two. There are those that watch all the property TV programmes and are desperate to buy a property and do it up, and there are the other buyers that have a life to live and prefer to move in and get on with it!

So, if you are selling, either sell your property as a wreck or do it up and sell it as a finished product. Beware though, as your idea of what looks good isn’t necessarily everyone elses, so it's essential to know what kind of makeover to spend your money on and add value to your property to either sell it or do it up.

Latest research from Movewithus who spoke to over 200 estate agents (don’t be cynical, most of the ones left after the credit crunch are the decent ones!) is that there are lots of ways to add value to your property prior to selling.

According to their research, major improvements such as adding an extra bedroom could increase a property’s average price by nearly 9%. Kate Faulkner, Managing Director of Designs on Property says “This can be a great way of adding value to a property, although before you go ahead, check with local agents first. If you are selling the only two bed property in your area and there are 10 three beds for sale, it might not improve the value. Conversely if you end up creating the only four bed property versus lots of three beds for sale, as long as agents have buyers on their books, you could improve the value”.

The Movewithus research suggests a property’s value can rise by 7% following a loft conversion and 6% when creating a second bathroom or installing a new kitchen. Other good investments include installing central heating, having off-street parking, and adding a conservatory, which depending on the local property market, could add up to as much as 5% to the value.

If you are a seller and already have these things, then the best thing to do is to give it a good clean, the classic Ann Maurice, Channel 5’s House Doctor ‘de-clutter’ trick and spruce up the paintwork, making sure you leave a good finish.

In the main, buyers are splitting into two groups, ones who want a property finished and ones that are looking for a wreck to do up, so if you do decide to do your property up, make sure you don’t leave it half finished, otherwise it’s likely to sit on the market for months and not sell at all, or you’ll end up taking a much lower offer than you’d hoped.

If you are a seller and want a smooth move, buy a First Time Sellers Pack and gain access to Kate and her team via email or phone to help you through every step of your sale - email or phone 0845 838 1763.

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Need help with a property problem? Have a question? Why not call Designs on Property on 07585 897128 or Contact Us via email.
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