Everything You Need To Know About The Housing Market

You have spent time making your house your home and now the time has come to pass it on to someone else. Accurately pricing your house is a key factor in getting a quick sale. Here are some helpful tips to get you started on this journey.

 

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Housing Markets Are Local 

A week seldom goes by without another national report on the state of the housing market but remember that prices may vary considerably between areas. Take the time to research sales and prices in surrounding streets. Using a website like www.propertylive.co.uk or www.zoopla.com can give you a good indication not only of price fluctuation but also recent house sales. Also they will reflect how quickly prices are rising or falling. Information like this can help you price smart. For example, if house prices in your area are rising at 1% and you expect it to take three months to sell then add 2-3% on the current price.

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Image by gb Michael Elv


 

Ask The Professionals

This is probably going to be the easiest way for you to get an accurate price for your property. You may want to sell privately, use a high-street or online estate agent (like eMoov!) but whatever you do getting a number of different opinions will help to determine what you should be asking for your house.

Bear in mind that an agent will be able to point out repairs or possible renovations you should make, which may pay dividends when it comes to putting your property for sale.

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Put Yourself In The Buyers Shoes 

Remember to be realistic about your pricing and try not to be overly optimistic. People will be paying for bricks and mortar rather than your happy memories. So think about what type of person or family will want to buy your house. Within this is the most important aspect of pricing.

Know what you are prepared to accept and what your own future plans are going to be. Also what kind of time frame you are working with. Bear in mind that if you are looking to sell quickly you may not get the highest price you are hoping for. These factors will help you when a buyer approaches you and negotiations start.

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Article by Michael Muttiah


Bonus Tips

When you’re preparing to sell your house you must provide an Energy Performance Certificate (EPC), free of charge to potential buyers. Your house will be rated A (Best) to G (Worst) for energy efficiency. Without one Trading Standards can issue a £200 fine to someone living in a dwelling without one.

Useful Links

http://www.adviceguide.org.uk/england/housing_e/housing_moving_and_improving_your_home_e/selling_a_home

http://www.landregistry.gov.uk/market-trend-data/public-data/faqs

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