The latest official figures from the Office of National Statistics show average house prices have increased by 5.2% in the year to December 2017. But while prices may be rising, the annual growth rate has slowed, especially in London where average prices fell 2.6% in the last year according to Your Move. Some London boroughs, such as Wandsworth, saw prices fall by as much as 15%.
If the housing market is slowing, then it makes sense to look at the ways you can maximise your chances of selling. Here are 10 things you should do before your house goes on the market:
1. Check its kerb appeal
Stand outside your home and see how it looks. Would it look appealing in a photograph? If you need to, paint or clean the front door and tidy the garden – especially the front. If there are any communal areas make sure they are kept clean and clutter free.
5 ways to add kerb appeal
2. Declutter inside
Improve lighting in your home where possible and ensure the windows are clean. Keep personal knick-knacks to a minimum and put clutter away – in the attic if necessary.
How to declutter your home
3. Make your home sparkle
Give the whole house a deep clean. Dust everything, including light fittings and skirting boards, vacuum every nook and cranny and air all rooms.
Spring cleaning tips
4. Fix the little things
When you have lived in a property for a long time it is easy to overlook the small things which somehow you never got around to fixing. Even if it’s just a leaky tap.
5. Be honest
If the property is unmodernised then market it as such. There are plenty of people looking for a fixer upper and this will be your target buyer.
Emphasise the potential where you can. For example, take up rugs hiding original features like wooden floors. The most important rooms are the kitchen and bathrooms: even if they're very outdated, make sure they are spotless and odour free.
6. Choose an agent wisely
Agents don't charge for valuations, so try to get three as a minimum.
Look up which agents have sold the most properties in your area by searching on the likes of Rightmove and Zoopla. Successful agents will know the buyers looking in that area and what they are prepared to pay.
Read our tips on choosing an estate agent.
7. Negotiate on fees
When it comes to the agents’ fee it is important to compare agents’ rates. You could get an agreed fixed fee rather than commission. A contract period of no more than eight weeks should keep them on their toes.
8. Price it right
Getting the asking price is crucial, of course. Don’t pick the agent just because it offers the highest valuation. Sometimes a lower price will attract more interest.
Avoid the six sneaky tricks estate agents might try.
9. It’s all in the presentation
Once an agent has been instructed, make sure they produce a quality brochure touching on all the key points. Kate Faulkner at Propertychecklists.co.uk says you need a minimum of 20 good quality photographs. Most people view online first so cater for them with lots of great pictures.
What is Japanese Knotweed and how could it affect the sale of a house?
10. Cherish your buyer
Around a third of sales fall through, so once you have found a buyer don’t hang around. Instruct a conveyancing solicitor so a deal moves as quickly as possible and arrange your new mortgage if you need one for your next purchase.
Don't let a good buyer go and be prepared to compromise for a cash buyer. Be ready to rent for a while if need be.
Informative, in-depth and in the know: get the latest money news with Saga Magazine.