When it comes to buying and selling a property, sellers are also often buyers and vice-versa. So you would be forgiven for thinking the factors each place the most importance on when buying and selling a property, would be the same.
Leading online estate agent, eMoov.co.uk, surveyed over 1,000 UK homeowners on both sides of the fence, to ascertain which factors are most appealing when it comes to a property’s potential.
The results showed a disparity between those putting their house on sale and those looking to buy, as sellers placed a greater importance on internal factors, whereas buyers found external factors and functionality of greater importance.
A huge 82% of sellers believed that a clean and tidy house was the most appealing factor to potential buyers, whilst 65% of those actually looking to buy thought the local neighbourhood far outweighed anything else, with a further 51% worried about local crime figures.
Both parties agreed on the importance of the garden, with it ranking as one of the most important factor. 61% of those looking to buy a house felt a well presented outdoor space was an appealing factor, with 72% of sellers believing a clean and tidy garden was also a must.
Amongst the other important factors for prospective buyers were the long term potential of a property (40%), if the property can have super-fast broadband (25%) and the strength of the mobile phone signal (20%). Whilst those selling thought the quality of the photographs (68%), homely smells such as coffee or fresh bread (48%), being available to answer any of the buyers questions (47%) and having each room painted in a neutral colour (33%) would appeal most.
Founder and CEO of eMoov.co.uk, Russell Quirk, commented:
“Despite sellers and buyers often being one and the same, it’s interesting to see the vast gap between the perception of each, when it comes to the factors that appeal during the purchase process. Our previous research identified a reality gap between buyer and seller when it comes to price, but it appears that this stretches beyond into the factors involved in the selling process itself – whether it be presentation of the property or aspects of the local area.
I think it boils down to sentimental value a lot of the time, where a buyer is looking at a property from a different point of view to those that have attached themselves to it over the years. It’s important that sellers really remove themselves from this emotional attachment and say, if I was buying this property what would my first impression be?
It also pays to remember that first impressions are very rarely made in person now. In this modern age the first impression comes online and, sellers have to present their property to as high a standard digitally, as they would in person.”
eMoov’s Top Tips to Maximise Your Property’s Selling Potential
DIY & Décor: One of the most simple, cost effective methods of bumping up your asking price is through small details like a lick of paint. Neutral décor is always more likely to appeal to buyers and a fresh coat of paint can cost around £100 a room for a decorator, or a lot cheaper if you do it yourself. It can really make a difference when showcasing your property to potential buyers and more than pay for itself in the long run. Completing those odd jobs around the house can also help, something minor to you like a broken towel rail, can come across as shabby to a buyer.
The Garden: As this research shows a garden can swing a deal on both sides of the selling process. As you would with the house, de-clutter, mow the lawn and make the most of what you have. Your garden may only be small but maximising it with some intuitive design features can create a more appealing space. Use mirrors to create the illusion of more space, a quirky feature like a fire pit can transform a piece of turf into a relaxing space and don’t forget to highlight the pros – it may be small but the upkeep is very manageable and mowing the lawn is a five minute job.
Property Potential: Remember the long term potential of your property is as appealing as its current condition. Is there room to extend upwards or outwards? Is it difficult to obtain planning permission? Is there a lease on the property? Are there any transport links being developed nearby in the coming years? Is the boiler on its last legs or has it just been replaced? Does it need to be insulated or has it already been upgraded? All of this info can put you in a stronger position when showcasing your property.
Broadband and Phone Signal: In this day and age the technical capability of your property can be a huge decider. People need to be connected, whether it be through phone or internet and being able to do so brings piece of mind amongst other things. If you live in an area that is particularly poor for signal, it’s worth knowing if one provider offers a stronger signal than another. Are you able to install additional phone lines? Does the internet require a booster in order to get a good signal? Perhaps most importantly, do some shopping around. There’s a wealth of websites that can help you compare services in your area and being armed with these for potential buyers is going to help you sell your property.