Sometimes, like now, with so much uncertainty in the air, things do slow down. This happens before almost every general election, and right now the uncertainty is around Brexit. But it doesn’t mean that nobody is looking to move, or that everybody’s life is on hold: families are still growing; children are still changing schools; adults are still relocating.
But when people do decide they want to wait things out, when the urgency dies down and when fewer buyers are around, are you completely powerless? Fortunately no.
As with most things in life, being creative or open to suggestion can make a world of difference. So here are three areas of consideration to help your move happen, regardless of market conditions, negative press or wavering sentiment.
We’re starting here because it’s the one people fear the most. “I want to sell my home but I don’t want to give it away” is the most common and understandable response.
The first thing to get out of the way is that you don’t have to do anything. You can stay in your home for as long as you wish until you are happy to sell. At the same time, it’s worth looking at the bigger picture to make sure you make a wise decision.
Clearly if the asking price of your home is not aligned with current values, you are going to be missing out on interest. Everyone knows that, but what about beyond the obvious?
If getting a particular price for your property is the number one priority, and your move can wait until that day comes, then you have the luxury of time and we’d recommend you use it. However, do remember that if you are buying a property that is more expensive than the one you are selling, you will always be worse off by waiting for prices to rise.
Let’s say you’re selling at £500,000 and buying at £750,000. If prices increase by 10% your current property will go up by £50,000, but the property you are buying will increase by £75,000. People can lose sight of this because of the emotional ties to their existing home where they’ve put their heart, soul and life. So just ask yourself what is most important – being better off, or achieving a particular price – because they are not necessarily the same.
It’s also worth looking at whether there is flexibility in the price of a property you’d like to buy, and whether you could pass those savings on through your existing home to entice more interest and offers. In layman’s terms, everyone loves a bargain. So if you manage to secure yourself one to buy, why not use your good fortune to help you sell?
Could anything about the way your property is being marketed be improved or refreshed?
Sometimes it can be hard for viewers to visualise a room where there appears to be no purpose. Do you have a room like that? Maybe one that had a use before but doesn’t now? Could you give it a role?
What about the photography? Does every image capture the essence of certain spaces? Some rooms are difficult to photograph and look much better in person so, for those rooms, remove any pictures from the publicity. Others can photograph – and view – much better with some restyling: rearranging furniture; removing excess items; adding homely touches.
Take a walk around your home and see if anything could be improved. Then look at the photography and see whether any could be retaken or taken down: ten great photos are better than twenty average ones.
3) Become a landlord
Do you need to sell to move? Not everyone does, but not everyone realises. Properties in Leytonstone and Wanstead are as popular for lettings as well for sales, from small apartments to large family houses. Whether or not you have an existing mortgage, it’s well worth finding out what your options are. You might even find that being a landlord suits you well and that your home becomes a valuable income-generating asset long into the future. Or you could take a shorter-term view and make the property available for sale again when the market seems more favourable. And if the idea seems like too much hassle and you just want to ‘move on’, you could have your property managed so any issues or maintenance are taken care of for you.
Do let us know if any of these suggestions open up ideas for your own move. And if you’d like to talk about any aspect of selling or letting your property, we’d love to help.