Is it – or isn’t it? No-one – especially our politicians– seem to know whether or even when Brexit is going to go ahead. Regardless of where you stand on the issue, the UK’s imminent departure (or not) from the European Union has undoubtedly had a huge influence on Britain’s economy – and particularly the housing market.
The market’s stagnancy in recent years has been mainly down to Brexit according to some house analysts. Fear of continuing employment and even another recession in the event Britain leaves the EU has understandably led to many would-be buyers sitting on their hands, as it were.
So, if you’re in the market for selling, what can you do to (a) make your property that bit more appealing and (b) make it easier and more tempting for a prospective buyer to bit the bullet and splash the cash on your property? Well, here are some of our suggestions right here:
Make your property more appealing
Up the tech ante.Consider using 360 degrees or walk through video viewings to show off your home. Photographs still work, but people like watching videos and it’ll give your would-be buyer a better feel for your home.
Rehome the dog. Just temporarily, of course… The reason is most dogs smell – as do other pets to an extent (but dog scent tends to permeate a house). And they can also get hair everywhere. To maximise your chance of selling, get a kind family member or friend to mind them for a day or two when you know sellers are expected.
Be renovation ready. Your would-be buyers might be considering an extension or loft conversion. Do them (and yourself) a favour by checking out whether or not planning permission is available beforehand. Your foresight, organisation and the possibility of extending could sway your buyers into deciding to buy then and there.
As a seller you might be interested to know that, according to a survey by research firm TwentyCi, more house sales in England fell through last year compared to 2017 (an increase of 1.2 per cent on the previous year). They did agree Brexit would have been a factor, but others were down to the buyer pulling out (almost one third of would-be sales), gazumping and as the result of a poor house survey. The chain collapsing only accounted for nine per cent of failed transactions. More (10 per cent) of sales fell because the buyer felt the process was too slow.
Make buying your home easier and more tempting
- Be willing to negotiate. Surveys can often throw up hitherto unforeseen problems. If a survey on your house does and the buyer asks for a reduction in the price then be open to this (especially when you consider the costs of having to remarket it) as well as further solicitor’s fees.
- Have the legal side sorted. Make sure you have a conveyancer in place and your paperwork up to date so that you’re ready to roll should you get serious interest from a buyer. You don’t want that buyer to get fed up waiting and go on to find another property instead.
- Be sensible about your asking price. Demand is relatively high right now, and supply low, so it’s not as if the market is in the seller’s court. Too high and you’ll put buyers off and waste your own money. It’s best to go with a local estate agent who’ll advise you on a good price for your regional market.