Property: Selling in a stagnant market

The last few years have been difficult for homeowners; house prices have steadily climbed since the huge drop experienced in 2007 and 2008, but progress stalled somewhat in the last 18 months. Values go up slightly one month, down slightly the next – it’s been a fairly stagnant market.

For those looking to sell their property, the lack of activity in the housing market is troubling. With buyers lower down the ladder unable to get the borrowing they need, those further up have struggled to find buyers, which has put the brakes on rising house prices; overall the 2012 house price rise was marginal. Looking ahead to 2013, life could be even harder for sellers. The early indications are that those who have been waiting patiently for the best time to sell their property have decided to wait no more – January listings for properties new to the market are up 22 per cent on last year.

selling property

So if you are looking to sell your home, take heed of the following tips for the best chance of a sale:

Be presentable

Remember that the principles of selling a home are just the same as selling things in a shop: presentation is very important. You need to make your home look like somewhere someone could fall in love with, so pack away the clutter to show off the space and keep things clean and tidy.

Make those repairs

As an extension of giving your place a tidy up, make all and any repairs that are necessary to your home. Even minor problems can put some people off as some buyers don’t want to purchase property that they have to do even a bit of work to, while first-time buyers might be scared off by cracked plaster – wrongly fearing that it points to a more serious problem.

Invest in your home

It may seem odd to spend money on your home before selling, but you can easily make back the cost of say, a conservatory, by adding to the asking price, while it will also make your home more attractive. Other investments include double glazed windows (improving heat retention and security) or turning a small box room into an en suite.

Go an alternative route

If the traditional market is not working out for you, consider utilising the services of a specialist property buyer such as Gateway Homes. You’ll get less than market value, but on the plus side, companies such as this buy any property in any condition, with a lump-sum payment made very promptly.