How to get the best price for your home, may be something that is concerning you if you are thinking of moving home next year. You may feel like you have missed out on the boom in house prices and demand that we have seen in 2021. All of this talk of the rising cost of living, increases in mortgage rates and so on has got you feeling like you have missed out on getting the best price for your home.
House Prices in 2022
In our recent blog, “are property prices going down?”We discuss how the housing market is predicted to perform next year. Even with these negative factors affecting affordability, house prices are still predicted to rise next year.
That said, anyone thinking of moving next year needs to be prepared and savvy about their sale. To get the best price for your home, you need to be thinking about your sale now
When to be “sale ready”
Traditionally, the best time to sell your home is in the spring, winter is normally a slower period. However, January is usually a very busy month for property listings. In 2022 it’s probably best to look at the current market, rather than traditional trends.
To achieve the best price for your house next year, there is no doubt that you need have it listed for sale in the first quarter of the year. This is when the highest rise in house prices will happen, before the affordability issues come into play.
If you want to maximise your chances of getting the best price for your home, start thinking and planning now by doing the following:
Gather together any house related paperwork. Remember to include HM Land Registry title documents. Energy Performance certificate. Gas and electrical safety checks. Planning permission and building regulation completion certificates and builder’s guarantee certificates for alterations or additions. FENSA or CERTAS certificates for windows. Subsidence guarantees/warranties. Damp guarantees/warranties. Party wall agreements (if relevant). Any title insurance policies you may have taken out to solve title defects.
Estate agents and mortgage companies are required by law to check your identity to prevent money laundering. Ensure you have the relevant ID documents. You will need a photo proof of identity such as a drivers licence or passport. Along with a proof of address such as a bank or utility statement. A full list of acceptable ID documents can be found on the government website
Clear the clutter. This can make a massive difference when selling a property. Clear away all clutter to leave rooms feeling spacious and clean. Consider putting some items into storage.
Consider your kerb appeal. Houses do not look their best over the winter months. However, it’s the perfect time to make a list of jobs to improve your jerk appeal. Does anything need painting? Fix and clear getters. Does the garden need a tidy? do you need to wash nets and curtains?
Finish any unfinished DIY projects. This may put off potential buyers.
Get finances in place. With mortgage rates currently very low, get your mortgage in principal agreed. This will give you an idea of your budget and put you in a good position once your home goes under offer.
Before putting your home on the market, invite your shortlist of agents to value your home. With Coronavirus looking likely to be with us for a while yet, you may be uncomfortable inviting agents into your home. Ask about socially distanced valuations, this will give you a good indication of your properties value before you go onto the market.
When to put your home onto the market to get the best price
In order to get the best price possible for your home in 2022, ideally you want to sell it within the first quarter of the year. Good estate agents are currently selling houses in just over two weeks on average. Therefore, the ideal time to start marketing your home is January, certainly no later than mid February.
To prevent any disappointment, ensure you do not have a contract of longer than four weeks with any estate agent. If an agent is confident in their valuation, they will not tie you into a long contract length. If your home doesn’t sell quickly, ensure your agent is being proactive, marketing to active buyers and not just to those on the property portals.
Here at Harrisons Homes we have been helping people locally to get the best price in every type of market for years. If you would like to find out what else makes us different, call our team on 01795 474848.