As we enter a new year, discussions will have taken place across the country in many households regarding key plans for the year ahead. These discussions generally happen over the festive period when households are together and therefore have the time to make proper plans. Once the normal chaos of domestic life kicks in, there is little time to have a decent chat whilst running out of the door to work, or in many cases where the key decision makers pass one and other (shoul this be “one another”) like ships in the night!
When considering a property move the general discussions are around the requirement to upsize, downsize, upgrade, move due to a job relocation, school catchment area, moving in together, separation/divorce etc. Regardless of the reason, ensuring your property is ‘market fit’ might just be the best investment you make in terms of financial return, saleability and speed of sale. Be under no illusions, the presentation of your property is a key factor in a purchasers decision to buy. Simple (in many cases cost effective) improvements can in many cases differentiate your property from the rest.
If the decision is to move, then the earlier you prepare, the longer you will have to ensure the property maximises its true potential on the market. January is a particularly good month to touch base with an experienced estate agent. An initial consultation should be totally free of charge but helpful in focussing on what is required to prepare your property for market. Nothing should be off the table and consideration should be given to specific improvements such as replacing the ‘old’ kitchen and bathrooms, getting planning permission for extending if relevant, creating off street parking if possible (and with appropriate opinions), creating additional bedroom accommodation (if possible), overhauling your roof, creating an en-suite, creating additional storage, landscaping the garden, adding a terrace/patio/decking area. An experienced agent should be able to give you creative and practical advice along with an indication on the benefits (financially or speed of sale) of doing the work.
Irrespective of the property location the fundamentals of market preparation remain the same. At the very least, clear out clutter, clean from top to toe, steam clean carpets, paint external window sills, remove or replace mouldy grouting/sealant, freshen up tired paintwork (a great way to mask stale smell), remove old furniture and replace if possible, tidy up the garden or if in a flat tidy up the communal hall and paint the front door if required (first impressions count).
The additional benefits of starting the ball rolling at the beginning of the year is taking advantage of the impressive deals available within kitchen and bathroom suppliers (in many cases 50% off). This will reduce the cost of your investment and increase the value of your home.
A good agent will know the best time to sell but doing the work now will save you money in the long term.
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The information and opinions contained in this blog are for information only. They are not intended to constitute advice and should not be relied upon or considered as a replacement for advice. Before acting on any of the information contained in this blog, please seek specific advice from Gilson Gray.