Preparing to sell in 2024- Why the initial pricing of your home correctly is so important.
Pricing properties correctly has always been key to a successful sale, but in today’s market, sellers need to take extra care. In this article we provide sellers advice on what to consider when valuing their homes and offer a useful FREE download to unlocking your homes value, a guide to accurately and ethically valuing your home.
Pricing properties correctly has always been key to a successful sale, but in today’s market, sellers need to take extra care. Research from the likes of The Royal Institution of Chartered Surveyors, Rightmove, and Street.co.uk, all suggests that Q4 is going to remain challenging for the property sector.
With the weight of increased mortgage interest payments still impacting the housing market, sales are down by nearly 20% compared to this time last year, and properties are sitting on the market for longer than usual. Why? Active buyers are seeking value. In such a price-sensitive market, sellers need to get the price right when the property is initially listed.
Selling a home is an emotionally charged time, regardless of your situation. It’s easy to have strong feelings about what your home is worth, and so it’s important to seek expert advice and listen to guidance from professionals you trust about listing at the right price.
If you list too high, you may push active buyers to other properties nearby, and your house could sit on the market for a long time. But listing it too low means you could miss out on significant cash that could help you with your next move.
We’ve been helping people sell their homes for more than 35 years now and our expertise takes into consideration your location, the size of the property, its condition and age, as well as recent comparable properties in the area.
There are a few things to think about when getting your property valued:
The local market matters
Regardless of what you’re reading in the news about property markets, your local market is what matters. Even though the national picture might be slow, some areas of the UK are still performing well depending on your property’s location and features. Looking at recent sales in your area and speaking to a local agent will give you accurate insight.
Be realistic about home improvements
Some home upgrades can add significant value, while others won’t do much to move the needle. Take the time to see what else is on the market around you and see what recent improvements they’ve made. If properties around the same price point all have renovated bathrooms, but yours doesn’t, you need to take that into consideration.
If you’re looking for a fast sale, pricing too low isn’t the answer
While you might think it’ll generate more offers and a quicker sale, buyers may also assume that there’s something wrong with your property, or something hiding. If it seems too good to be true against other properties nearby, it may struggle to sell, leaving you on the market in a difficult situation.
In Sussex there are still plenty of active buyers out there who know exactly what they want, and what they’re prepared to pay. We can help you navigate the market and ensure your property’s price hits the sweet spot so you’re not missing out on potential value, and not sitting on the market for too long.
We have also put together for anyone thinking of selling their home a useful Guide to unlocking your homes value, here we provide valuable advice on how to accurately and ethically value your home. You can download the guide here.
Download Guide Here
If you’re interested to receive a free valuation, or want to chat about the local property market, don’t hesitate to get in touch with our Sales Director, Chris Thew on 07513 825107 or email cthew@mishonmackay.com.