If you’re thinking about putting your home on the market but not sure where to start, you’re not alone. Whether it’s your first selling experience or you’ve done it before, planning ahead makes the experience smoother and can help you secure the best deal. Here are five essential points to consider before listing your property on the market.
1. Assess the local market conditions
The property market often fluctuates, with prices and demand levels varying across regions. It’s a good idea to review local market trends over the past few months to set realistic expectations for sale price and time on the market. Recent sale prices in your area can be useful as they can help you to estimate your property’s value. A good local estate agent will be indispensable in this situation as they can provide insights into the local market and let you know how quickly homes are selling, as well as any specific property types that are in high demand which can help you to make your decision. If you are keen on determining the price of your property, getting an estate agent to conduct a market appraisal is an efficient way of doing so.
2. Consider the costs of selling
Selling a home comes with its own set of costs that can catch sellers off guard. For example, its a good idea for vendors to invest in some home improvements to present their properties in the best light possible. Minor home improvements and repairs are an easy way to increase your home’s appeal and potentially its value but be mindful of over-investing in upgrades you won’t recoup. Another cost which may not be at the forefront of your mind is having an up-to-date Energy Performance Certificate (EPC). Legally, every property listed for sale, and this can typically cost between £60 and £120. Another key consideration is conveyancing fees. When handling the legal side of the sale, fees generally range from £500 to £1,500 depending on the complexity of the sale. Planning for these costs can help avoid surprises later on and ensure you maximise your net profit from the sale.
3. Decluttering and staging your home
When it comes to selling your home, first impressions matter. Decluttering is useful as a clean space is much more appealing to potential buyers, encouraging interest from buyers and potentially even having an influence on the perceived value of the property. Before putting your home on the market, it’s a good idea to declutter and thoroughly clean your home, organising shelves and removing personal items. Sprucing up the front of your home by ensuring that its neat and tidy and windows are clean, is also a great idea. When it comes time to sell your home, staging is also a great way enhance your property’s appeal. Staging may involve some initial investment, but it often pays off by attracting more interest and possibly even higher offers.
4. Set a realistic asking price
Setting the right asking price is crucial to a successful sale. Overpricing can lead to a property sitting on the market for months, while underpricing could mean leaving money on the table. A balance is essential to attract interest while maximising your returns. Work with your estate agent to determine a realistic asking price. Remember that buyers today are highly informed and have access to online valuation tools and property price histories, so unrealistic pricing can deter even the most enthusiastic viewers. Our blog on the importance of accurately pricing your home explores this in more detail.
5. Understand your legal and documentation requirements
The legal side of selling can be particularly time-consuming. Ensuring you have all your documents in place before listing can make the entire process smoother and faster. Here’s what to consider:
Title Deeds: These prove your ownership of the property and will be required by your conveyancer. If you don’t have a copy, you may need to request one from the Land Registry.
Energy Performance Certificate (EPC): As mentioned, you’ll need an EPC to legally list your home.
Property Information Form (TA6): This form provides potential buyers with detailed information about the property, including boundaries, planning permissions, and any disputes or complaints. Accuracy here is essential, as discrepancies can lead to legal issues down the line.
Fixtures and Fittings Form (TA10): This document clarifies what items (e.g., appliances, light fixtures) are included in the sale. Preparing these documents in advance can help avoid delays later, making it easier to move quickly if you receive an attractive offer.
Final thoughts
Selling a home is a considerable endeavour that requires planning, preparation, and, often, a degree of emotional resilience. By taking these tips into consideration, you’ll be in a strong position to put your home on the market confidently and secure the best possible outcome. Take the time to carefully consider these points, and don’t hesitate to reach out to professionals if you need advice along the way. With preparation, you’ll be one step closer to achieving a successful sale and moving confidently into your next chapter.
