It could be terrible news for individuals wanting to sell their homes with the housing market in a recession and increasing mortgage rates. Some buyers have had to delay their planned moves due to rising living expenses and borrowing charges. As a result, industry group UK Finance predicted that this year’s number of home sales would decrease from the 1.2 million recorded in 2022.
However, homeowners continue to sell their houses. In fact, on Boxing Day, a record number of new sellers listed their homes for sale on Rightmove, a 46% increase from 2021. After Christmas, home-moving activity began to pick up in accordance with the seasonal trends, suggesting that the housing market is still in motion for sellers.
Read on to know how to prepare your house for a profit-inducing sale.
Pick Your Estate Agent Wisely
Although the London real estate market is still bustling, buyers are now more price-conscious and cautious as they wait to see how the market will change in the coming year. Therefore, choosing the estate agent wisely is essential, as the right estate agent will get all the procedures started and assist you at every step. You would want the agent to be well-versed in the locality and know why people should invest in your area.
For instance, Data from CSI PROP suggests that Manchester’s investment potential is quite enticing. This northern city fetches impressive rental yields and average house price rise, showing more demand for real estate. Since 2011, The Economist’s Global Liveability Index has continuously named Manchester the UK’s Most Liveable City, making it a very appealing city in terms of lifestyle. These factors make it the perfect place to invest in property. Get in touch with estate agents in Manchester to secure a lucrative deal.
You should ensure the below-written things when choosing your estate agent:
- The estate agent should have enough experience and knowledge about the local area.
- They should have an impressive sales history with houses like yours.
- Ensure the fee charged is reasonable by securing a higher amount from the sale after deducting the agent’s fee.
It’s crucial to set the price correctly from the beginning to prevent the property from appearing stale on the portals and drawing lesser offers. Don’t let an agent’s higher valuation tempt you into hiring them.
To draw bidders, you might want to offer a lower recommended price. This can prompt multiple buyers to submit competitive bids. You can check and value your property by using an online valuation tool like Property Valuation Manchester. Book a valuation at the right time to get the longer end of the stick.
Keep the Documents Ready
Throughout the selling process, your estate agent will need numerous paperwork. If you can acquire all the necessary papers in advance, any delays later in the sale process can be prevented.
Following is a list of some necessary documents to prepare:
- Energy Performance Certificate
- HM Land Registry documents
- Electrical checks report
- Gas checks report
Clean up Your House
Before submitting an offer, buyers may visit a property more than once. This leads to them noticing any details or problems that might put the sale in peril. Schedule repairs to your property and clean it up for photos and viewings.
You should keep the following in mind while decluttering:
- Ensure proper light and ventilation
- Clean up the lawn
- Keep the bathroom and kitchen organised and sanitary
In a nutshell, 2023 may likely defy the more pessimistic projections issued when the mortgage rates’ prognosis appeared considerably worse. Sales will be aided by individuals retiring, buyers searching for places to work from home as the race for space starts, and the demand for energy-efficient homes. This scenario brings a great opportunity for sellers in the property market. Consider certain necessities, get the right estate agent, and you’ll be all set.