MoneyMagpie

Jul 26

Make money when selling your property

Selling a property can be a relatively stressful process. There are so many different things to take into account that you can often feel overwhelmed. This is perhaps the main reason that people end up taking lower offers than they actually wanted on the price of their house. But there are several things that you can do to regain control over the process and actually make a lot of money through selling your property. Here are a few for you to consider!

 

Selling at the Right Time

The amount of money that you can expect to gain from selling your property will depend largely on the state of house prices in general at the time you intend to sell. Considering the huge value that properties tend to have nowadays, it’s surprising how many people rush into selling their own. They tend to spend a long time making the decision to move home. They weigh up the pros and cons of their current property. They consider alternative locations that may better suit their personal needs and requirements. They question whether they will be able to keep sufficiently in touch with their family, friends, and other loved ones if they make a long distance move. They work out whether they will be able to find a new job in the new area that they have in mind. They generally spend months mulling over all of these major decisions – and rightfully so. After all, shifting places can have all sorts of different effects on an individual’s lifestyle. However, when they’ve come to the conclusion that they would be better off elsewhere, they tend to try to rush the rest of the process. They want to up and move as quickly as possible and will often put their home straight on the market as soon as they have come to a final decision on the matter.

This is bizarre. After all, considering your home is generally the biggest purchase and investment that you’ll make in your entire lifetime, surely you want to get as much money from selling it as possible! When it comes down to it, the truth is that it’s entirely unlikely that you are going to get the best price possible for your home at the exact moment you decide to move and that you decide you want to sell it. House prices fluctuate and considering the huge cost of houses, even a small percentage of difference in the price that you can gain from your property could mount up to thousands of pounds. Rushing also makes you more likely to accept an extremely below-parr offer from a buyer. So, take your time! Research hdb resale price data. Monitor the market. Seek advice on when will be the best time to sell. Sure, this may require patience. But the huge sums of money that you can save by acting a little more sensibly will make the wait more than worth it!

Construction

 

Renovating the Property

Every year, hundreds of thousands of people carry out some sort of renovation on their property. Now, there are various motives behind this type of major work. Sometimes renovations are absolutely essential for the maintenance of a property and to ensure that it is a safe space for people to live in. Sometimes people will find that the structure of their property is unstable and specific structural work has to be carried out to prevent the ceilings from collapsing or the walls from falling down. Occasionally, electrical work will need to be carried out to ensure that sockets and switches around the property can be used safely and to eliminate risks of fire due to faulty electrics. People may find that their plumbing is wreaking havoc with their property and that pipes need to be rerouted or replaced. These situations all call for some serious home remodelling.

Another category are personal renovations. These are home renovations that are carried out solely for the purpose of helping a property to meet the inhabitants’ personal wants and needs. If someone intends to stay in their property for the foreseeable future, it makes sense for them to conduct renovations that will help the space to better suit their day to day lives and requirements. However, when your main focus is making money through selling your property, renovations can help you out in a completely different way. Certain renovations can significantly increase the value of your property. They can be implemented to make your property more desirable to buyers on the market. It’s extremely important to remember that it is highly unlikely that you will be the only person selling up in your area. You need to make sure that your property surpasses any others that it may be compared to, as this will allow you to charge a higher price for your property and to secure a faster sale.

Now, the most important step to take before settling on any renovations is to have your property professionally valuated. A professional valuator will be able to take a look at your property, tell you how it fares up against other properties in the are, and  what sum of money you can come to expect in return for it. They will also be able to give you a whole lot of advice in regards to what kind of renovations will best benefit your property and whether the cost of carrying them out will boost your property’s value significantly enough to justify the investment of time, money, and effort.

Estate agent

Using Estate Agents vs. Selling Privately

Many people fail to realise that selling privately is a legitimate option when it comes to selling their property. The traditional route that people tend to automatically go down is using an estate agent. Now, there are plenty of benefits that do come hand in hand with using an estate agent, so you do need to weigh up your options sensibly. Estate agents are widely acknowledged by consumers. When people decide that they want to buy a home, they are much more likely to start searching for properties through local estate agents than anywhere else. This means that you gain a whole lot of exposure by advertising through their sites. Estate agents are also specially trained salespeople. They will have experience in displaying your property in the best light possible and encouraging people to make offers and seal deals. They can also conduct viewings on your behalf and draw up legal documentation when it comes to the actual sale.

In short, if you want someone else to carry out the work of selling your property on your behalf, these are the people to go to. However, it’s important to bear in mind that estate agents don’t carry out their work for free. They will charge significant amounts of commission on the sale when it does go through. This why the most significant benefit that comes hand in hand with selling privately, however, is the amount of money that you save in terms of commission. Sure, you will take work into your own hands if you sell privately. But the time and effort that you dedicate to selling your property yourself will save you thousands in the long run.

These three steps may seem relatively simple, but the amount of money that they can make you throughout the process of selling your property is astounding. Each step is definitely more than worth the time and effort that will have to be invested in it. So, incorporate them into your journey!

 

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