Selling your Home in a Competitive Marketplace: 3 Steps towards Achieving your Real Estate Goals
The performance and fluctuation of real estate value in London is often a key economic indicator in the UK, as the nation’s capital remains one of the most alluring destinations for international investors. It also has a heavy influence on the domestic real estate market, and over the course of the last twelve months its continual growth has inspired rising property prices further north and throughout the whole of the UK. So even though the recent flood damage has had a negative impact on the value of homes in southern coastal areas, prices are likely to rise steadily in the majority of regions across Britain in 2014.
How to Sell your Home Quickly and Effectively in a Competitive Marketplace
In many ways, rising property prices and real estate growth provide the ideal opportunity for home-owners to sell, whether they are looking to upgrade or simply cash in on their initial investment. Selling a property in a thriving real estate market can be extremely challenging, however, as there is likely to considerable competition and a set of circumstances where supply outstrips demand. With this in mind, consider the following steps towards expediting the sale of your home without compromising on its profitability: –
Improve the Curb Appeal of your Home
Curb appeal is a renowned concept in real estate terms, despite the fact that many home-owners are either unaware of its meaning or choose to underestimate its importance. In fact, curb appeal has a huge influence on potential buyers and interested viewers, who typically form an initial judgement about the suitability of your home with five minutes of arriving at the scene. By de-cluttering any entrances or drive-ways, adding colour to your front garden and ensuring that the front exterior of your property is kept immaculately clean and litter free, you can help it to stand out from surrounding structures and steal a march on rival vendors within the area.
Set a Realistic and Fair Price
Having your house valued is often the first step towards establishing a price, although it is important to note that estate agents tend to set a higher premium as a way of boosting their potential commission. While there is nothing necessarily wrong with this in a buoyant market, too high a price may deter potential buyers and force them to consider alternative properties in the region. Although it is fair to say that lenders are approving more mortgage applications that at any point since the Great Recession, it is important to establish a price that the market can bear before you become consumed by greed or unrealistic expectations.
Create the Illusion of Space within the Home-owner
Once potential buyers are inside your home, it is important to present a neutral space that can serve as a blank canvas for their unique dreams, goals and design expectations. After all, a potential buyer must be able to imagine themselves living in the property, and creating a neutral living space is crucial if they are to achieve this. It is also important that you strive to create the illusion of floor, wall and storage space within the property, as this encourages buyers to consider your home as a long-term investment opportunity rather than a stop-gap purchase.