Avoid the worst selling mistakes
Here's a quick guide to the stuff you shouldn't do when selling your home:
1) Mistake one: Being inflexible about viewings
As intrusive as viewings can be, try to be flexible about timings. If someone wants to pop by at 8am on a Saturday morning or 7pm on a Friday night, agree to it. If you really want to sell your home, you need to be flexible.
If you're too busy to make the time, simply give your estate agent a door key, or he or she can easily access your home for viewings, even when you're not there.
2) Mistake two: Putting buyers off
According to a survey by Co-operative Financial Services, house-hunters are most likely to be put off by smells -- particularly damp (26%), followed by tobacco (25%) and drains (19%).
Nationwide, on the other hand, claims that ‘DIY disasters' and ‘poor building work' is most likely to turn off buyers.
Halifax, meanwhile, claims buyers think limescale or mould build up are among the most undesirable features of a property. Many buyers were also put off by properties that didn't have parking spaces or gardens.
In other words, there's a lot that puts buyers off. Make sure your property doesn't by avoiding cooking foods such as fish or curry before buyers come round, and if you're a smoker, start smoking outside. Clean up any cat litter and empty the bin. Get rid of any weeds in the garden, and hide your gnomes - 17% of buyers don't like them, according to Halifax.
Finally, beware the classic advice to bake some bread or have some coffee brewing as viewers pop by. If you try to mask smells too much, prospective buyers may think you have something to hide. So just get rid of any odours and use a tiny bit of air freshener instead.
Once you've done all that, find out how to make your property more appealing, instead.
3) Mistake three: Picking a bad estate agent
Is your estate agent marketing your house properly? How much experience does he/she have with selling properties in the area? What does the property brochure look like? What are the photos like on the estate agent's website?
All of these questions are ones you should be asking yourself. If your home isn't being marketed properly, it won't sell.
When advertising your home, don't simply use a photo of the exterior. Potential buyers want to see what the interior looks like so take photos of as many rooms as possible (and make sure you've tidied them up first - remove bins and close the toilet seat).
Ask your estate agent if it's possible to include a 'virtual tour' of your home on the estate agent's website. These are always popular with buyers!
4) Mistake four: Making costly improvements which don't add value
According to research by the Royal Institution of Chartered Surveyors (RICS), popular home improvements could cost you thousands more than they add to the value of your property. For instance, RICS claims an extension could leave you out of pocket by an astonishing £20,232, while a new kitchen or conservatory could each pour almost £14,000 down the drain.
Meanwhile, energy saving upgrades -- while great for the environment -- are apparently a no-no for increasing your asking price. Here the costs could run to well over £12,000, but add just £1,028 onto the value of the average property.
That said, the research by RICS only looked at the value added to the average property and the average cost for each DIY project. Your own property may be a completely different kettle of fish. If you think home improvements could still add value, then do your research before you spend anything. Ask a local estate agent if they think it's worth your while and find out what buyers in your area are really looking for.
On top of that, you may be able to cut the cost of home improvements by shopping around for cheaper materials and labour - adopt our goal on this topic for more help. And you can make sure you don't waste money needlessly by taking out a loan or a mortgage with a high interest rate. (Read Paying for your project for help on how to avoid this.)
Still, it always makes sense to keep a close rein on how much you spend on home improvements. If your bathroom or kitchen is in urgent need of an update, try to do the work as inexpensively as you can. So before you rip out your old kitchen and renovate it in the hope of enticing buyers, think about replacing the cupboard doors and handles for a modernised look that won’t cost a small fortune.
Similarly, a tidy garden will help to make the right impression on prospective buyers, but you may want to think twice before shelling out thousands on a landscaping bill!
5) Mistake five: Setting the wrong price
If you set the wrong price, and then have to lower it later, buyers may catch a whiff of desperation about your sale. Then. they'll haggle hard for a bargain, especially if your property appears on sites like propertysnake.co.uk, which lists properties with reduced asking prices. They could also start to view your property with suspicion and ask themselves - "Why hasn't it sold? Why have the owners lowered the price? What's wrong with it?"
Plus, of course, setting the wrong price can cost you months of heartache and put your plans for a new life in a new home on hold.
To avoid this fate, you need to set the right asking price for your property from the start. Get our tips on how to do so.
6) Mistake six: Neglecting a golden opportunity
We're here to help - but so are other lovemoney.com readers. Why not ask their opinions what mistakes they think you should avoid? Use our Q&A tool to find out.
Got any tips of your own?
Please add them using the comments box below!
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