House Prices Falling: How Can Sellers Get Value?
While there was an unexpected rise in property prices in January of 2018, with the average home in England and Wales costing more than £300,000; it was a different story in London. London witnessed its biggest drop in property prices in close to a decade, with the fall being deemed to have been the biggest drop since August of 2009. Average property prices in the capital were deemed to be £589,533 which is £26,742 than the figure of January 2017. So with house prices falling, what can sellers do to get value?
If you are a property owner in London looking to sell your home soon, it is natural that you will be concerned. Falling prices cause problems for property owners and you should be looking for ways to make your home more appealing, adding value to the property. At Brixton Property Blog, we are pleased to say that we are here to offer guidance on how to improve the value of your home and we have some tips for you.
Are you impacted by house prices falling?
The first steps you want to take to get value when selling your home is to ensure your home is decluttered as much as possible and that your property is as clean as possible. Some property specialists make these out to be massive tips that will make a difference but, these steps are based on common sense. You will find that if you don’t offer a spacious and clean property, prospective buyers aren’t going to be interested, so this work should be a starting point in presenting your home, not the culmination of the work that you do.
Limit the personalised feel around your home
It may be difficult to do but you should look to limit the personalised feel of your home. You want prospective buyers to imagine themselves living in the property, and this can be difficult if there are pictures of you and your children around the property. When showing guests around or taking images of your property for listings, minimise the influence of you and your family to help prospective buyers feel at home.
Of course, you don’t want to leave rooms blank or void of personality, so it can be a challenging task to find the balance. You should look to add some accessories to ensure that your rooms have a touch of personality while still allowing prospective buyers to position themselves in the property.
Decorating makes sense when you want to make changes at your property
It is common sense that decorating is a smart idea when looking to improve the value of your property. Placing a fresh coat of paint on the walls can work wonders in freshening up a home and upgrading accessories or features in the kitchen and bathroom can have an enormous impact.
A few years ago, the trend was for homeowners to completely overhaul their kitchen and/or bathroom to impress buyers, but this is not required these days. You should look to make our kitchen and bathroom as functional as possible but there is no need to invest significant sums of money in changing the look and feel. In fact, you want to make these rooms look as general as possible allowing the buyer to upgrade if they so desire.
If you have funds available for significant work at home, you should consider adding space at your home. Loft conversions or extensions are the most effective way to increase value at your home and make people want to live in your property.
Also bear in mind that prospective buyers will see the outside of your home before the inside, which means the outside of the property creates the first impression. Make sure the outside of your property is as appealing as possible, adding accessories, creating space and showing a sign of vitality if you can.
Falling house prices in London will be a concern to homeowners who are considering selling their home, but there is no need to panic. There are many changes you can make at home to improve the attractiveness of your property and to convince buyers to consider your home. If you are looking for guidance or advice in selling your home, make sure you call on Brixton Property Blog for support.