The property market is unpredictable, with no crystal ball to tell us what will happen and when. If you can't control the value of your home, what can you control? What can you do to make a difference and take back the power regarding the value of your property? Read this article to find out...
We can never truly know what's going to happen. The housing market is affected by so many factors there's no way to know how those variants will react together to impact the psychology of property buyers and the availability of finances to allow people to buy a new home.
Faced with a cost of living crisis, rising inflation and increasing interest rates, you would be forgiven for feeling deflated. Surely it's better to just wait? But what are you actually waiting for? A market crash? A recession? And then what? Will you wait for the market to rebuild and for values to increase again? You could be waiting years.
Most sellers don't make the huge decision to move house because of the housing market conditions. People move for reasons that affect them personally. In truth, most homeowners only take notice of the housing market when they're considering selling or buying a property; otherwise, they turn a blind eye. You can't be persuaded to move house because the market is strong; you'll decide to move because you need to.
So, should we be considering the state of the housing market at all, really? Why do we even care if we don't use this factor to decide when to sell our house? And if we're selling a property and buying another one simultaneously, you and the sellers of the property you buy are moving within the same market conditions. So, does it even matter?
In truth, no, it doesn't. Your property has a value in today's market, but it will likely be different in a year. No one can say how it will change with any degree of certainty, just that it will. But, for whatever reason, you're considering moving house NOW, not in a year. And, of course, the value may drop in the next year - would you then wait even longer? Would you put up with whatever is not quite right about your home for another year, two years, or five years just so the price you sell for is higher?
Moving house is an emotional process, not necessarily a logical one. Of course, if there was no emotional attachment, you would buy and sell properties like you do shares in the stock market, gambling on the price increase to make the most profit.
This is not to say there's nothing you can do to improve the relative value of your home in the market as it stands, simply that you shouldn't wait to sell your property until the market conditions feel right to you. Sell when you need to, not when you think the market might be good.
If you're considering selling your property now, there are things that can be done to help you achieve the very highest price in the market as it stands today. Even in the darkest depths of a property recession, people move, and houses are bought and sold. Work with the market you're in; don't wait around hoping that things will change.
These tips will help you to sell for the highest possible price in whatever market you choose to sell your home in. Waiting for a boom or trying to avoid a bust in the housing market is impossible, and you could find yourself waiting for years whilst you get slowly more frustrated with your current property, and your desire to leave grows by the day.
So, take control of the controllable and maximise the value that is available to you today by following these tips:
- Presentation - A well-presented home will undoubtedly attract more interest from buyers than a cluttered, messy one. Allow your home to shine and attract that perfect buyer by removing unnecessary clutter and ensuring every inch is presented just right.
- Decor - Garish wallpapers and intense colour schemes are an acquired taste and can sometimes look absolutely fabulous. But the aim of the game when trying to sell your home for the most money possible is to appeal to the broadest audience. This means your interior design choices should be inclusive, not polarising. If 50% of your friends and family love your interior style, but 50% think it's a little too much, the same could be said of potential buyers. Tone it down if needed, or style things up if it's a little dated to appeal to as many buyers as possible.
- Set the scene - Staging your home enables viewers to envisage themselves living in your property, showing off the kind of lifestyle your home could give them. It doesn't have to be over the top or cost a fortune; it can be as simple as preparing a tray with a coffee pot and two mugs in the bedroom. Of course, neither the coffee pot nor the mugs are included in the sale, but this image will tell the story of enjoying a lazy Sunday morning coffee in bed with your loved one.
- Inviting scents - The famous TV advert coined the term 'nose-blind' to describe when, after time, you become so used to a smell in your home that you no longer smell it. With that in mind, try to make your home smell inviting, welcoming, homely even. During Autumn, consider pumpkin spice or vanilla, warm, cosy smells. In the summer, floral scents work wonders. You don't have to turn into the next Jo Malone, but think about your home's first impression on viewers and how you can ensure it's positive. Smells evoke strong emotions, and it's possible to ensure that your viewers like your home by pulling on these emotions with glorious scents.
By following these 4 tips and working with your estate agent to assemble compelling marketing and a robust marketing strategy, you'll surely get your home sold for the maximum possible price, whatever the market conditions.
Don't wait for the market to change. Get in touch with us today to get your home sold!