Tips For Selling

Here are some tips for selling your home and getting the true value for your property. From experience, we know the following tips can help you achieve the best possible value for your property.

1. Check when your current mortgage deal ends, as you may need to pay a fee if you decide to move before it expires.

Before taking any action, review the terms of your mortgage to determine if there are any penalty fees for moving.

If you’re on your lender’s standard variable rate, which your mortgage switches to after the fixed-rate or tracker period ends, you likely won’t face any penalty fees. However, if your mortgage isn’t portable and you’re still within the introductory rate period, you may need to pay an early repayment charge to your lender. This fee typically ranges from 1% to 5% of your remaining mortgage balance, making the cost of moving potentially quite high. For example:

– A 2% early repayment charge on a £250,000 mortgage would be £5,000.
– A 3% early repayment charge on a £250,000 mortgage would be £7,500.
– A 5% early repayment charge on your £250,000 mortgage would be £12,500

If you’ve determined that you won’t incur a costly early repayment charge, it’s time to plan your next steps. Consider why you want to sell and how you want to proceed.

2. Stay a homeowner (selling to buy immediately): This means selling your current property to purchase another one right away, whether you’re upsizing, downsizing, or relocating.

The advantage of this approach is that everything is handled simultaneously—you use the same conveyancer or solicitor for both transactions, and you only need to move once. However, it can be stressful and may involve being part of two chains, which could make you a less appealing seller or buyer.

3. Enhance your home’s appeal to attract buyers and potentially increase its value.

Once you’ve made the decision to sell, it’s important to prepare your home to ensure it’s in top condition. Even well-maintained properties can show signs of wear and tear. To improve your chances of selling quickly and at a good price, consider making these quick fixes before you get a valuation and start scheduling viewings:

A. Enhance your property’s exterior by giving it a thorough cleaning

First impressions are crucial, especially in real estate. To boost your property’s exterior appeal, consider these cost-effective improvements that could add value:

Mow the lawn.
Clean your windows.
Make sure your front door and driveway are spotless.
Maintain fences and walls in good condition.

B. Tidy up the interior to make your home more appealing to potential buyers.

Simple tasks like cleaning, tidying, and decluttering can make your home more appealing to buyers and even help you earn some extra cash. Here are some effective steps to enhance your interior:

Highlight appealing features that initially attracted you to the property.
Minimize personal items to help viewers envision themselves living there.
Use mirrors, especially in smaller spaces like hallways, to enhance light and create the illusion of more space.
Eliminate any unpleasant odors.
Light a fire or turn on the heating to create a cozy atmosphere if it’s cold inside.