5 Tips for Securing the Best Price for Your Property

5 Tips for Securing the Best Price for Your Property

If you've decided to put your property on the market, it makes sense that you'll be hoping to sell as close to the asking price as possible. It goes without saying that achieving the best possible sale price is desirable.

In an uncertain property market, securing the sale can also be hard and if you need to sell because of a job move or personal reason, having the added pressure to sell quickly adds to the stress. Although you might have carried out improvements that add value to your home, there are other ways to smarten up a home and make it even more attractive to prospective buyers when it's on the market.

This article considers five points to highlight keys to attract potential buyers and secure the best price for your property in today's market.

1. Manage Expectations in the Current Market

The property market is always a hot topic of discussion and with the current cost-of-living crisis and rise in mortgage rates, market reports have indicated that average houses have fallen and are continuing to dip. With the UK property market seeing continued uncertainty, if you are selling it's important for you to manage your expectations.

While you and your estate agent will want to achieve the best possible house price for your property, the same reports of a market slow-down have seen sellers discounting their homes which was unheard of a couple of years ago. However, over-inflating your asking price based on what you believe the property could be worth risks it sitting on the market for longer. This can end up costing you more in the long run.

You may need a quick sale, whether due to divorce and planning to split the proceeds of the sale, or a new job recently secured farther afield, even overseas. In these such instances be prepared to factor in the possible additional costs of renting, if your sale isn't secure. Either way, you won't want to risk having less viewings or losing the sale.

2. Be Realistic About What Your Property is Really Worth

Be realistic about what your property is worth rather than holding out for a higher price and look at comparable places that have recently sold in your area. Consider the size, number of bedrooms and outside space. A five bed-room house is fantastic but might not achieve its potential if it only comes with one bathroom, so you need to factor in any necessary renovations needed.

Working with a trusted estate agent can help provide an accurate valuation too. They have extensive knowledge of the local area and current market conditions. Be open with them about both the positives and negatives of your property.

Achieving a quick sale closer to your ideal price is about setting an appropriate asking price from the outset. This generates more interest and offers in the crucial first few weeks of marketing. It avoids the risk of constantly having to reduce it if unsuitable offers come in. Managing expectations may mean compromising over your dream selling price. But in the current market it maximises the chances of a fast and smooth sale. A modest but realistic valuation makes your property appealing and competitive.

3. Point Out Any Investment and Upgrades

When you are in discussions with an estate agent and they are valuing your home, they might ask you to point out when and where you have invested in home improvements. So, if you've made any significant upgrades or renovations to your home, maximise these investments when marketing the property. Added-value features like an extra bathroom can increase your home's value by up to 5%, while that new extension or additional bedroom might add as much as 25% to your house price.

Buyers will appreciate home improvements like a more spacious master bedroom with ensuite, but will do their own research on local prices. So, trust your agent as they can ensure the right strategy to point out the investment you've made. Smaller more discreet upgrades such as a new boiler, smart home tech gadgets and insulated windows should all be promoted as these will all boost desirability and can secure the sale price you're after. Discuss with your estate agent the key standout improvements you've made and emphasise these in the property listing with great text and photos.

4. Impress Potential Buyers From the Start

The old saying 'you never get a second chance to make a first impression' is true when it comes to selling your home. From the initial property listing to every online and physical viewing, you'll want to impress potential buyers. Little touches can make a difference, such as displaying fresh flowers, or cleaning every room to allow natural light to flood in and keeping the temperature warm in the colder months.

It has been said that people make their minds up about buying a home within seconds of walking through the door, so it's worth making that extra effort like mowing the lawn, brewing fresh coffee, getting rid of pet odours. It really is about showcasing your property in the best possible light from the outset, showing the lifestyle you might live at your property making those critical first viewings count.

5. Flag Up Unique Selling Points

Every home has its own unique characteristics that can be drawn out to entice potential buyers. Identifying and showcasing special features or selling points beyond just the number of bedrooms can make your property stand out.

Kerb appeal is key and it does matter if your home has attractive exterior features visible from the street. A brightly painted front door, well-kept garden, or distinctive period architectural details are all worth highlighting.

For the interior, period features like fireplaces, picture rails, and coving add charm. An open-plan kitchen-diner is popular with modern buyers looking for a sociable space. A south-facing rear garden is desirable too, allowing sunlight throughout the day.

Consider each room and exterior space from a buyer's perspective. What little touches or unique characteristics would you highlight on a viewing? Also think about the location. Close proximity to schools, green spaces, or transport links are all useful selling points.

Maximise Your Sale Prospects

Selling your home can be stressful and exciting, but take the time to get the marketing right from the start to secure the best price possible. Talk to your estate agent and research the prices in your area to set a realistic asking price from the start. Maximise any home improvements with eye-catching presentation in listings, photos and in online videos. With your agent's input, it's also important to flag up any unique selling points that make your property stand out, such as the new boiler you recently installed, the swimming complex that opened nearby and the excellent parking facilities.

First impressions do count both online and in-person. With reasonable expectations, strategic marketing and showcasing your home in its best light, you give yourself the very best chance of a quick and successful sale even when the market might say otherwise.

Image is from a 2 bedroomed, terraced house in London, SE3 available Oct 2023. For the full listing, please click here.

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