Getting the best possible price is essential when selling your house – but “best possible” means different things to different people. “Best” is not necessarily “highest.” One of the most common reasons properties sit on the market is that they are priced too high. The key is balance; achieving a price that meets your needs and those of the buyer.
Housing prices are based on a variety of factors. Chief among them is the location. Research what other properties in your area are listed for, and more importantly, have sold for recently. Your estate agent can help you access this information, and you can start with sites like the HM Land Registry,Zoopla and Rightmove.
The overall market is your starting point. The value of your house is also impacted by factors such as:
- Number of beds/baths.
- Yard space/lawn/garden.
- Structural integrity and wear.
- Nearby amenities, such as schools.
Asking price also depends on you. How much time do you have in which to sell? For example, if you want an expedited sale, you may have to compensate by listing the house for a lower price to move it quickly. If you have the luxury of more time, you can always list it on the high side. If it doesn’t sell, you could consider adjusting it down.
Another benefit of having more time is that you can tackle some issues that do influence price: you could spiff up the place with paint jobs and landscaping. You could finally finish turning that shed into a fully-equipped office or studio, or you could invest in structural elements, such as a new roof. These all have the potential to help you fetch a higher price.
Before you list your house, talk to the estate experts at Doorsteps. We will complete a free property analysis and valuation, so you can feel comfortable going forward with the sales process. Pricing is complex; we’ll help you simplify.