Selling and purchasing property, for many, will be one of 2018’s biggest considerations. The Chancellor’s recent slash in stamp duty for first time buyers is also expected to see a healthier return in buyer appetite. With a larger number of properties on the market (as happens each new year and early Spring), those looking to sell, and more importantly wanting to sell well, must consider how to make their properties stand out from the crowd.
In a buyer’s market, presentation is absolutely integral to a successful outcome. Here are a few simple and easy steps to consider when putting your property on the market.1. Be objective
Properties are personal. Irrespective of whether you are a landlord with an ex-rental flat or a family residing in a home, objectivity when it comes to a property’s presentation has to be top of mind when looking to secure the most desirable outcome. An estate agent is only as good as the product they have to sell and complacency, when it comes to scruffy and dated decor/untidy rooms, will ultimately impact your ability to achieve the desired asking price.
Before putting a property on the market, cast a critical eye over it and identify its strengths as well as where there is room for improvement.
2. A lick of paint
Experts state that in order to achieve the desired sale price, vendors need to invest between 0.5-1 percent of their asking price into a property’s presentation. Although this can feel like money you’re never going to see again, in reality this kind of initial investment can be the difference between dropping at least £10k off your asking price and achieving it.
When you’re close to a property it’s easy to overlook the fact that the decor might be looking a little tired. Unfortunately, this is one of the first things prospective buyers notice when walking into a home. Re-painting the main rooms in a neutral colour is one of the simplest ways to breathe new life into a space and create a welcoming atmosphere that improves the reception of your property during viewings.3. Furnishings
We’re all guilty of housing a well-trodden rug, an old scruffy sofa or something similar. However, when marketing a property for sale lacklustre furnishings can negatively impact a viewing as well as the photographs used to promote your property in agent windows or online. Investing in stylish soft furnishings such as cushions or throws is a really easy and relatively inexpensive way of driving attention away from what could be tired looking furniture.
Use a neutral scheme with one accent colour such as a deep blue or fresh green to ensure your property stands out for all the right reasons and leaves prospective buyers with only the best impression of your property.4. The smell of selling success
Studies have shown that the smell of a room when you walk into it informs your general perception of that space. With this in mind, airing rooms and buying oil diffusers or burning scented candles can create a welcoming atmosphere the minute prospective buyers walk through the door. And leave them with that all-important purchasing feeling!5. Making sense of space
We all have that one drawer, cupboard or even room that houses all manner of nonsensical items. When preparing a property for sale, take time to de-clutter; a room that houses an old TV, ironing board and desk might work for your own use but won’t translate to strangers walking round your house. Make spare rooms into something functional; an office or made up spare room. If you have young children tidying away toys is imperative.
This way you’re showcasing your property’s greatest potential and ensure that prospective buyers don’t get lost in your presence in the space and instead begin to imagine themselves in it.
For most, the buying and selling of a property will be the biggest financial transaction they ever make. Investing a small percentage of what your property is worth into its presentation will not only make for more persuasive marketing but has been statistically proven to help secure those all-important offers.
In such uncertain times it can be difficult to make this kind of investment but by doing so it can make the difference of reducing your asking price or exceeding it.