The property market may is improving steadily – and that’s good news for landlords. 2013 was a good year for sellers as the Halifax House Price Index revealed prices were 7.7% higher across the UK in the three months to November when compared to 2012 figures and London saw prices soar by as much as 10%.
When you need to sell your property quickly, there are numerous steps you can take to make it more appealing to buyers.
Below you’ll discover the top tips for making that all-important quick sale.
Understand Your Target Market
The first thing you need to do is understand your target market. You need to come up with ways to make your property more appealing to those most likely to buy it but without eliminating interest from other groups.
The trick is to sell your property in a way which allows prospective buyers to see untapped potential. As a landlord you’ll want to maximise your ROI by offering a property with as many bedrooms as possible but if you dress these bedrooms in certain ways then prospective buyers may view them as office spaces, games rooms or other features they’re looking for.
Plenty of research into your target market is advisable to get this right, so look at your location and analyse which homes have been successfully sold in the area recently. What selling points did they have? Is this something your property can offer too?
Redecorate
One of the biggest mistakes landlords make when trying to sell a property is failing to decorate it. Buyers want to be able to picture themselves and their family living in the house but if worn wallpaper and peeling paint are common features then they may struggle to do this.
Don’t underestimate the power of a lick of paint and give your property a quick spruce up to make it more appealing. Neutral colours are the safest option for walls and floors but you may want to avoid adding features such as white carpets which may put-off buyers due to the fact they’re harder to maintain.
Take Plenty Of Pictures
A picture speaks a thousand words and the more pictures you take of the property, the more chance there is you will sell it. You’ll need to make sure the pictures are high quality and should undertake a deep clean of the house before taking any pictures. This is to ensure your property looks as presentable as possible. Buyers are likely to be particularly interested in gardens, kitchens and bathrooms so make these rooms a focus of your photos.
Take Time Finding An Estate Agent
If you’re planning on using the services of an estate agent, make sure you choose the best one. If you have the time, organise a few viewings for other properties which the agents are selling and see whether the negotiators turn up on time and how friendly and professional they are. This will give you a good idea of what your potential buyers will experience when they go to look around your home.
Make Any Necessary Repairs And Upgrades
Now is the time to get your house in the best possible condition and even the smallest repairs and upgrades should be taken care of. Do your kitchen worktops need modernising? Is the home mainly carpeted? If so, you may want to consider upgrading your flooring to something new. Fresh carpets are a great option where you want something soft underfoot but for messier areas like the kitchen or bathroom you may want to consider tiles or vinyl flooring which provides a clean, modern design. Fixing leaking taps and cracks in the walls should also be a top priority.
Selling your home can take time but the tips above should help to speed up the process and improve your chances of securing a quick sale.
Philip Blackwood has been a property developer for over 20 years and now blogs about his experience. He writes for a variety of people including Vita But To Let Student Accommodation.