As there is usually a 10% increase in buyers in January, New Year is the perfect time to put your property on the market. We share our top tips in order to take advantage of the bustling New Year market
New Year is the perfect time to put your property on the market, since buyers’ desire to find new homes are usually renewed and reenergized over the Christmas period. Statistics from the National Association of Estate Agents (NAEA) has shown that there is usually a 10% increase in buyers in January, compared with December. This jump means that there are roughly eleven buyers chasing each property in the new year, making it a great time to get your home on the market, especially since the NAEA reported that house prices increased by around 3% last January.
To help you get ahead of the crowd, we share our top tips on preparing your home for sale in order to take advantage of the bustling New Year market.
The way your home looks can have a huge impact on potential buyers. Studies found that more than a quarter of people are put off buying houses due to overgrown and cluttered gardens. It is paramount that potential buyers are able to visualize themselves in your home, which is why you need to ensure you accommodate for this by decluttering and deep cleaning of your space. Remove old photos, tidy away shoes and coats from the hallway, clean the doors and windows, trim the lawn and replace anything that is broken.
While you may be a dog or cat lover, a potential buyer might not share your love of pets. Ensure to freshen your home before viewings by opening the doors and windows a few minutes before, removing any pet food bowls and cat litter trays. Opt for neutral scents - light some vanilla candles, or even better turn on the fireplace if you have one - there is something heartwarming about the scent of fresh burning wood which makes a house into a home for potential buyers!
Finding the right agent for your property is crucial. Make sure you do your research by requesting comparables to better understand your position and ask for statistics on how many properties they’ve sold. Finding an agent who has experience in the area you are selling is essential, as they will know the area inside and out and will be perfectly placed to advise you on local schools, transport links and how the area has developed over the years.
Once you have started to receive offers, Aaron Strutt, Product and Communications Director at Trinity Financial, says: “It is a good idea to ensure the buyer has a decision in principle and that they can borrow enough money to purchase your home. Unfortunately our buying system allows people to put a bid in for a property even if they cannot afford it and they can pull out of the purchase at any point until exchange of contracts. The process of getting a mortgage can be tricky for borrowers with complex financial circumstances, so an onward purchase could fall through or cause unnecessary delays if they cannot get finance.”
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