Posted on November 21, 2015
Preparing your home to sell it faster- and with a profit
Completing certain tasks, and preparing your property, before you list it on the housing market is beneficial, to gaining a better price from a prospective buyer, and ultimately a house sale. Establishing, what these tasks are, and why you are undertaking them, is a step in the right direction. Let’s start, on the major project of getting a home ready to sell. We will awaken ideas, and provide tips, to get your property in better shape. Creating interest from buyers and ways to sell my home fast, without delving too much into your budget. Let’s ask the question why it’s important. We cannot stress enough, that preparation, has a vital part to play helping your property fetch a higher price, and perhaps produce an even quicker sale.
Things to take into consideration when selling your property
Firstly, the outside of the house or flat, needs your attention. You must present your property to prospective buyers and create a good first impression of it. This is known in the professional circles as creating ‘kerb appeal’ The property, must appeal and leave the prospective buyer, wanting to view the inside and enter over the threshold and see more..
Make sure, the garden is free from rubbish, as this is off putting and makes the property look uncared for. Remove piles of dead leaves, trim back bushes. Aim for nice landscaping, with well maintained lawns, and no overgrown shrubs. The exterior of the house needs to be spotless, front doors and windows must shine and the driveway must be cleaned and well brushed. A coat of fresh paint, will work wonders to a tired front door.
Organisation of repairs, start with a list of to do’s. List all the repairs your house needs to have done, and the ones you have been putting on the back burner, to do at some stage. This should include small repairs, an example could be things as simple as, replacing a light bulb, to large scale major repairs, such as maintenance of the roof. Effectively, you need to consider your budget. Money spent on major repairs, and upgrades, will probably not be recouped in the house sale price. Try to attend to the smaller repairs, before deciding on bigger projects, all the time looking at financial implications. De clutter and organise your personal possessions. If you can’t part with them, put them in storage, or give them to a friend or relative meantime.
Professional estate agents, or home stager, will agree that, to show your house at its best, to potential buyers it is advisable to remove clutter, and excessive personal items to create an image of space. Less is more, so to speak, and is always a positive tactic to adopt, when selling a property. Nobody wants, a viewing that uncovers a property, where there is a lack of tidiness and order and gives the impression of being chaotic. Overflowing drawers, and messy rooms, are not a good start to progress into a house sale. Good storage systems, where everything is tidied away, will help potential buyers, visualise living in that space themselves.
If you have an abundance of furniture, and there is no space to move in the rooms, it might be a good idea, to think about renting a storage unit, to house unnecessary furniture, whilst the property is on the market. It will be worth paying the storage charge, as this will achieve more spacious areas, and show the rooms off to their full potential to would be buyers.
Who to hire?
Professionals, are more than happy, to help you prepare your home, ready to be marketed and showcased for a sale. However, professionals are costly, and you may need to work on your home yourself, depending on how much work your home needs. Consider the Professionals listed below:
An Estate Agent
He is first on your list to call and hire. The estate agent, will be able to give you an assessment of the property, and estimate an achievable selling price to ask for, on the housing market.
It is important, to have your property squeaky clean, and sparkling, for viewings. If you haven’t the time, because of family or work commitments, it is worthwhile to hire a company, that specialises in this, and they will complete it within a day.
It is always a good idea, to know an odd job person to hire, who can attend to small jobs that need doing around the house, that have been put to the bottom of your list of things to do.
An electrician, can fix your broken doorbell, or porch light and attend to any interior lighting problems.
If you haven’t time, or not good with a paintbrush, the answer is to hire a painter. Spend the extra on getting chipped paintwork re-touched, doors re-painted, rooms refreshed , making your home more appealing, when it comes round to being viewed.
If you have spare money available in your budget, then appoint a professional home stager. They will help you to de clutter your house, and will apply their skills to arrange furniture and accessories your rooms. They will make recommendations to you and stylise rooms, to prepare your home for a profitable sale.
Gardener or Landscape designer
If you are not garden orientated it could be worth, investing in the services of a gardener or landscape designer. First impressions count, and the first port of call is the garden as discussed previously.
It is good advice to follow, not to spend too much money, preparing your home for sale. Granted, make small changes, and possibly upgrade, if this will boost the value of your property. Don’t dip too far into your savings. You may need extra money for unexpected emergencies, that may crop up.
A Handyman , may cost between £50.00 -£80.00 per hour and up to £50.00 to £100.00 per hour for an electrician. Prices vary greatly, shop around. Don’t use any unqualified persons especially an electrician.
Home staging consultants, may be expensive, and charges may vary from £150.00 – £500.00 Charges will depend, on how much you expect them to do and if, you require additional full-service staging and furniture rentals. If you decide upon a storage unit to rent, expect to pay at least £70.00 – £120.00 per month.
Painting services, generally cost about £4.00 – £6.00 per square foot, or the painter will give you their costing in the form of a quote.
When to sell
Most promising house sales happen, in summer. Start getting your property ready to view in late spring or early summer. Aim for summer, to put your house on the market to sell. Start working through your checklist of repairs and thing to do, sooner rather than later. It is probably better to start preparation in the way of landscaping the garden, the year before you want to sell. A splash of colour in the garden, will be inviting and create a good first impression, use seasonal plants.
In Conclusion – Basic steps to follow
- Choose an estate agent, that you have interviewed and who you are happy with.
- Look at your property, and decide what will enhance its exterior and interior, to appeal to prospective buyers.
- Decide how much work you intend to do yourself, and what you will pay the professionals to do.
- A Home Stager – If you can afford one, they will have an enormous input on what needs rectifying, changing,repairing, and discarding in your home, worthy of the money you will spend on their bill.
- Additional professionals
As every house is different, it may require varying professionals to restore, change and repair your property to show it to its best advantage. Achieving a sale, is the main goal. Additional professionals, can be brought in when required and necessary. Don’t forget to keep a careful eye on the budget. Good luck!
Posted on November 17, 2015
Working out the cost of moving home
To start with, it is important to acknowledge, the costs that will be involved, selling and moving house, and the percentage, that this will take out of your purchasing budget. Do your homework, if you can accurately estimate this figure, the better it will be in the long run. This guide will outline all the costs, you will be presented, and where and how to find the most competitive quotes around.
New House – How much can you afford to spend on it?
You need to do your sums, to suss out how much you have available in your savings, minus the cost of all the expense involved in moving house, or maybe even changing location, a distance away, which will inflate the cost of moving, even more.
Below is a check-list, for your attention, to help workout your financial position.
Total available funds
* The maximum mortgage you can afford , without completely draining your funds.
* Savings you may have accrued
* Your expected profit, from your original property sale.
Moving house – the costs
* How much will your new house cost to buy
* What will selling your property cost.
Accumulative funds – cost of moving house.
* How much will your new house cost to buy
* What will selling your property cost
Cost of moving house
Above is a rough calculation, to be more accurate we will break down separately, to gain an estimate of the figures you need to put in it.
To calculate the expected profit, expected from your property sale
- Your current mortgage ( )
- An estimate of what you think, your property will sell for ( )
Help is at hand, via the internet, which contains, lots of information to work these details out. Or conversely, ask a reputable estate agent, and find out from one of these sources, how much the property is worth. To find out, how much is still owing on your mortgage, it is a simple job to call and ask for the outstanding figures from your lender. With a simple subtraction figure, you will be able to calculate your avhievable profit.
* What you imagine your property will sell for.
* Your outstanding mortgage, that you still owe.
* The expected profit from your profit sale.
Your savings and what other available assets you may have
It is important, to calculate this figure, because you will need ready cash, and some of your savings to cover immediate costs. Until, the completion of your sale, no extra cash will be at your disposal.
Your personal finances, must be addressed, and added to your budget planner.
The maximum mortgage – what can you afford?
It is recommended, by experts that you should pay no more than a third of your net income, on your monthly mortgage payments. It is noteworthy, and cannot be stressed enough, not to overstretch yourself, on outgoing mortgage payments. Lenders, once they feel that re-payments are regular, will offer further amounts. You must act responsibly, lenders won’t they don’t see any risk. Repossession, is a problem, because of rising interest rates. be aware, you can borrow, between 3 -5 times, your salary. There are over 8,600 different mortgages, but shop around, all lenders are different.
Probably, it is in your interest, to speak to an experienced ‘whole of market’ mortgage broker, who can calculate the maximum, you can comfortably borrower. Independent brokers, who are not connected to a bank or building society are recommended. They will give advise for your best interest.