Property, Buying, Selling and
Maintaining Tips and Hints - A Short Article Packed with
Useful Information
Property: How to Price Your Home
There are a lot of things to take into account before you put a price on your
home.
Where is the location of your house?
Location is very important when trying to price your house. You might have paid
£50,000 for your home 5 years ago but if the crime rate is up, businesses
have left the area etc.. then the value of your house might have dropped. Or
you might have paid £50,000 for it 5 years ago and businesses might be
booming, no crime rate, a sort after area etc.. then the value of your house
will be "sky high". It is very important that you do research before
you even think of setting a price.
What is the condition of your home
If your house and your neighbours house are both on the market at the same price
but your neighbours house looks more attractive and is more updated who's house
do you think people will want to buy? Your neighbours. It may pay off to spend
a few quid doing your house up a bit (that doesn't mean you need to decorate
the whole house). Look around your home and see if there is any thing that could
be done to improve the value of your home. I.e. worn carpets, wood work yellow
and needing a paint, your garden is unkept and messy. You don't have to spend
a fortune to make your home look appealing. Just do it up where it is needed
and the rest will sell itself.
Look at your home through a buyers eyes
Do you remember when you bought your home? How much you wanted to change it
and add your own touches. You wouldn't have given the pervious owner a second
glimpse to what she had done to it and neither will the next owner. That's how
prospective buyers will look at your home. They won't care how much time and
effort you have put into making it your dream home. They are looking for a house
that they can make their own. So don't price your home on sentimental value.
Get the experts in
Invite at least three Estate agents to visit your home and give you their opinion
of its likely selling price. Ask for a "comparative market analysis"
(CMA), which shows the prices of comparable recently sold homes, on-the-market
homes and homes that were on the market, but weren't sold. This will give you
an idea on competitors prices.
Do market research.
Go see an estate agent and pretend that you are looking to buy a house in your
area. Ask what prices they are offering then go and view some that are similar
to your home. Write out a checklist and tick off what they have on offer i.e.
fitted kitchen, double glazing, garage, is the general condition better or poorer
than your house ? When you get back home compare your home to the ones you have
viewed and make your price from this. Or you could walk around your area and
look for house that are up for sale write down the address and make inquires
over the phone about the price.
Personal property
Personal property should be excluded from the selling price. Washers, furniture,
curtains, etc.. You can either ask prospective buyers if they want to buy them
or sell them separately to others. Or you could include them for free this will
be and added bonus to prospective buyers and they will take the free over especially
if they are first time buyers
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