With UK housing prices gradually beginning to climb, the market appears to be gaining some critical momentum. While this is largely positive news for those hoping to sell their current home, however, timing is of critical importance and something that cannot be ignored. This is especially true for individuals hoping for a quick and painless transaction, which affords them the funds to purchase a new and improved property.
The fact that property prices are likely to climb throughout 2013 complicates the issue further, as by the summer the average cost of housing may begin to peak. This creates a market that is too unbalanced, where potential buyers cannot afford to purchase property at the established price. With this in mind, motivated sellers must act quickly and place their home on the market while they can still attract interested buyers.
Selling your Property: 3 Tips for Success
So how exactly should you go about selling your property in the existing market place? Consider the following: -
Determine a Fair and Reasonable Purchase Price: While the property market may be experiencing growth, it is remains extremely tentative and uncertain. This is another reason why you must act quickly if you wish to sell your home, as any sudden decline could see the value in your home plummet and create the potential for negative equity. In order to execute a swift and profitable sale, it is therefore wise to determine a fair price point which appeals to both buyers and your own personal circumstances. Although the price that you set must guarantee a return on your initial investment, it must also offer value to buyers in order to generate significant interest.
Consider the Merits of House Buying Companies: If you are keen to sell your property particularly quickly, then you may wish to consider a specialist house buying company. There are several in the UK with cash funds, who purchase property in a range of different conditions and guises for an agreed, up front sum. While you may not be able to maximize the profit in your home through this type of sale, it at least guarantees a quick and reliable transaction. Your task is to determine whether or not there is enough of a profit margin involved with the deal, to ensure that you are not left with negative equity or a loss in comparison with the initial purchase price.
Execute Cheap and Simple Home Improvements: While some home-owners invest a great deal of their capital into executing lavish home improvement and remodelling projects, this does not necessarily translate into a sizeable financial profit. This is especially true in the current economy, where the majority of households lack the requisite disposable income to even consider such tasks. Instead, you should look to execute cheap and low cost home improvements tasks, as these can be completed quickly, affordably and ultimately make a significant difference to the appeal of your property. Whether these apply to the aesthetic or structure of your home, they may prove pivotal in maximizing value.