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A Growing but Volatile Market: How to optimise the value of your home in the current climate

Sold house sign in Midwest suburban setting. Focus on sign.

If there is one thing that we all desire when selling our homes, it is to get the best price possible. Nobody wants to let their property go for less than it is worth, and this is entirely understandable. The money you gain will be put to good use, whether it’s to purchase your next house or to fund a dream, and the more of it you have, the greater your ability to obtain your ends.

Of course, much of this is out of our hands, as economic factors such as supply, demand and earnings have a direct impact on viable market price points. We must also factor in real-time economic trends and developments, with the EU referendum and the spectre of Brexit offering a relevant case in point at present. Leading economists are currently speculating that house prices would decline by £2,300 should Britain leave the union, for example, causing cause for concern among many vendors nationwide.

sold-house-family

Such changeable and unpredictable factors are sure to impact on the value of your home, while also influencing your decision in terms of when to sell your property.

Bringing Dreams into Reality: How to optimise resale value in a real-time market

Ultimately, this underlines the chasm that exists between knowing your price goal and bringing it to fruition in the current market climate. Buyers are always looking to secure a bargain too, so you have to put the effort into achieving what you want. To help you out, here are a few simple tips that can help you to thrive in a complex and volatile marketplace: –

Price Your Property Realistically

Too many sellers fall into the age old trap of overpricing their property. As tempting as it can be to ask for more than you want in the hopes of leaving yourself some wriggle room, take it from us that this is a bad idea, particularly in a market where prices are already inflated.

Value your home too highly, and all that you will do is deter potentially interested buyers who feel that it’s not worth as much as you’re trying to charge. Instead, have it properly valued by the professionals before settling on a price, and use this quote to help guide your asking value. As long as it’s fair and incentivises buyers, you may score a sale without any haggling over cost.

Choose the Right Estate Agent

The right estate agent will also be a valuable tool when it comes to making the amount that you desire. It is the job of the professionals you choose to market your property and enhance its appeal to potential buyers, and the more skilled they are at performing such a role, the more attractive your home will seem.

Choose the right people, and they’ll be able to play up its myriad selling points, make the bad bits seem minor, and score you a quick and profitable sale. This can make the difference when selling a value proposition in a challenging market, so look for what a service provider can offer you rather than focusing solely on costs.

Carry Out Repairs but spend your money wisely

Last but not least in our list of top tips is to spend a little money on any minor renovations. Although it may seem pointless to fritter your cash on work that won’t benefit you on a physical level, it really is worth the cost in the long-run.

The reason? Potential buyers will search for any faults they can in order to drive down the price, and where these don’t exist, there is far less room for manoeuvre on their part. This means that you can carry out any necessary work as economically as possible, and as a result won’t have to knock money off the amount you’re asking for when it comes to selling.

So while you should avoid investing heavily in large-scale improvements that may not negate the complexities of the real-time market, a little spending will help to reinforce the market value of your home in the face of buyer scrutiny.

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Lewis

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