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What To Do If Doing Up A Property To Sell?

January 29th 2015
By: Melanie

The recent property boom has enticed many more property developers into an expanding market, but even in a good market there are always certain things you need to bare in mind if you are thinking of re-selling for a profit.

The first thing we would suggest is to get in a local estate agent such as Intercounty. They will be able to give you the most accurate market valuations for re-sale or the rental price you could achieve, based on other properties they have marketed in the same area.

This will enable you to work out who you are marketing your home to, such as the 'professional market,' 'family market,' 'first-time buyer market' and so fourth. Each category will have a slightly different needs and expectations, and it's true that the property and location will probably dictate this. That's why it's important to have a good understanding of who you are selling to from the offset.

Once you have worked out what you need to do to best serve your potential market you will need to work out a realistic budget and stick to it. If you are going to be asking tradesmen to do the work, you will need to get in at least three quotations, so that you can make an educated decision. However if you are going to do the majority of the work yourself then you need to make sure that your DIY skills are going to cut the mustard. And remember all electrical and gas work must be carried out by certified tradesmen.

Two major failings when developing a property seem to be either not spending enough money to get a high enough finish or spending too much so that there are not enough margins to make a profit.

It's best to aim to get the best possible finish, even if you are going to rent out your property, as you will attract a larger range of clientele to your property. Quirky layouts, such as a downstairs bathroom are always a bit of a turn off to buyers, so try and incorporate this into the upstairs, where physically and monetary possible.

Try and keep the house as bright and plain as possible, but not insipid. There is nothing worse than going around a house with all the hallmark signs of a 'property developer', such as magnolia everything, ripped out fireplaces and the cheapest fitted kitchen. Keeping original features is really important to buyers, and will set your home apart from others.

Make sure that if your home backs on to a railway, is near a busy road, in a flight path that you reflect this in the re-sale price of your home.

Clean up any outside spaces, outside spaces are really important to buyers, so make sure you show these off to their best potential.

If you would like any more help and advice why not pop into your local branch of Intercounty for a chat and a coffee or call our team on 0844 8111090.