We have seen the creation of a sellers’ market in UK real estate during 2015, as a viable lack of housing supply has enabled vendors to place a premium on their homes. While this has driven huge price growth, is has also created a cavernous gap between supply and demand in the UK and made it increasingly difficult for buyers to make their move.
How to sell your property successfully in 2016
Given that the level of growth will become more manageable in the year ahead (and the gap between supply and demand will shrink), you may feel as though you have missed a window of opportunity if you are looking at selling your property in 2016. This is not the case however, so long as you adopt a proactive approach towards marketing home and ensuring that it is fit for sale. Be selective when making Modifications
With price points set to rise at a healthy by manageable 7% in 2016, you may feel the need to further optimise the value in your home through modifications. While there is nothing necessarily wrong with this, it is important that you are selective and strike a balance between cost and ROI. With this in mind, we would recommend making costly and time-consuming changes such as adding a conservatory, and instead focus on those with a lower cost but an ROI in the region of between 30% and 50% (such as a new kitchen or bathroom installation).
Make your home appealing to outsiders
While this may sound obvious, it is important to present your modified home as a neutral and malleable living space. When potential buyers are presented with overly cosy and personalised homes that bear the hallmark of individuality, it can create an extremely oppressive environment and prevent them from making an informed decision. By promoting an open and neutral space, however, you invite them to imagine themselves living within the property and make it easier for them to make an offer.
Avoid the Hard sell
By now, you should have a well-designed and appealing home that speaks for itself as a quality product. While you will still need to market and sell your home to potential buyers, however, you can at least avoid the type of hard sales patter that can create cynicism among buyers and discourage them from making a bid. By simply reinforcing the properties unique selling points and sharing the enjoyment you have gained from living there, you can effectively sell your home in a friendly and engaging manner.