Considering cashing in on the East Midlands house price hike?
Winter may have outstayed its welcome this year, but the traditionally-buoyant spring property market is now in full bloom here in Market Harborough. As is usual across the UK, the market shouldn’t start to tail off again until families become distracted by all things summery at the end of June.
This in combination with news from a new report from the Halifax and IHS Markit that the East Midlands enjoyed the UK’s biggest house price rise of 7.3% in the first three months of 2018, means that now could be the perfect time to get a great price for your home. But before you take the plunge and put your house up for sale, there are a few things to consider.
Onwards and upwards
Finding a new house to move to may be an obvious point, but as we all know, coordinating the sale and purchase of two properties isn’t always easy when factors like chains and the availability of suitable properties is taken into account. Some people choose to rent while they house hunt for their dream home, but at a time when property prices are rising, you may find yourself out of pocket if you stay in rented accommodation for a significant period of time as prices continue to go up. Also, if you do plan to rent while you search, check with your current mortgage provider as you may be subject to an Early Repayment Charge (ERC) if you leave your mortgage agreement early.
No one can live in show home conditions 24/7, especially if children and pets are in residence, but it really is worth making the effort to clear out the clutter and make your home as clean and calm an environment as possible. Not only will this make your home more attractive to potential buyers, it will make it a more relaxing place for you while you continue to live there. Viewings often happen at short notice, so why not allocate cleaning tasks to everyone to ease the load or even take on a cleaner to keep your house looking its best while it’s on the market?
A lick of paint
When your focus is on your vision for your future home, the last thing you want to be doing is spending money on the house you’re about to leave behind. However, investing in jobs that need to be done will help you achieve your target asking price and fill the coffers for buying and decorating your next property. Ask your estate agent for their expert opinion on any changes that need to be made and make sure you get them done before your house goes on the market.
Your potential buyers will want to imagine themselves living in your house and right now that means enjoying the warmer months. Even if you don’t have a big back garden to show off, you can still add summery touches to your home with hanging baskets, window boxes and even summery scatter cushions and indoor plants that will create a lighter and brighter environment.
Make yourself scarce
Research shows that if at all possible, it’s best to leave viewings to the professionals. This is because all sorts of feelings can come in to play both for the viewer who may already be emotionally investing in what they see as their potential next home, and the vendor, who may unwittingly discourage the person they are showing round. This can happen when the seller unconsciously expresses a negative opinion about the home while making small talk or appears to be stressed or agitated. Certainly, revealing the reason why you are making the move is usually best avoided, especially if it is for a negative reason such as a divorce or no longer being able to afford to stay in the property.
For specialised local advice about selling or buying property in Market Harborough, please call Naylors Estate Agency on 01858 450 020.