MoneyMagpie

Jul 04

Making as much profit as possible when selling your home

Many of us consider moving home a costly venture. We consider the price of shipping our belongings from A to B and making the new place our own through alterations to its interior design. However, it’s important to bear in mind that selling your property could also land you a significant profit as long as you go about things the right way. You just need to be a bit savvy with your sales process. Here are just a few different ways to maximise your takings when you do decide to put your property on the market!

 

Knowing the Worth of Your Land

If you have a lot of land around your property, you can quickly work out its worth through a land registry site like www.mouseprice.com. A surprising number of homeowners are completely unaware of the value of the very land their house sits on and if you do have extensive land around your property, you could find that it’s worth quite a lot and boost your asking price accordingly. Alternatively, you could sell some of the land off in a different sale altogether.

 

Carrying Out Renovations

Home renovations can help to significantly increase the value of your home or make it more appealing to the wider market if you’re planning on upping and moving elsewhere. It’s important to remember that the housing market is a competitive place and you do need to make your property stand out from all of the others in the area in order to secure a sale. You definitely need to make sure that work is carried out if you want to attach a higher price tag to your property too! Now, if you are carrying out renovations solely for the purpose of boosting the value of your property, you should ensure that they are definitely worth the money you’re investing into them. Collaborate with a professional valuator who will be able to tell you what buyers are currently looking for in properties in the area. While general articles may suggest that adding a conservatory to your home will significantly boost its value, you may find that buyers in your specific location couldn’t care less about conservatories and that the money might be better invested in a new kitchen or a loft conversion. You will also be able to work out whether the cost of the work carried out is justified in how much value it will add to your property. If it only boosts the value by the same amount that it cost, it might not be worth carrying out at all.

 

Selling Independently

Most people assume that an estate agent is essential for selling your home. But this isn’t true. Believe it or not, many people sell their home entirely independently. At the end of the day, using an estate agent is for sheer convenience and this is why it comes hand in hand with a high price tag. If you take a different approach and sell your home yourself, you gain ultimate control over the sale – you can advertise your home yourself through various mediums; you can conduct your own viewings; you can barter with buyers without interference. You can also wave goodbye to the large estate agent fee that you’d have to pay out at the end of your sale too! Now, there are countless laws surrounding the sale of a home and plenty of legal procedures that need to be carried out. Unless you’re familiar with the law yourself, you should search out specialist lawyers who will help you with the legal aspects of the sale. This is an essential cost, as you don’t want to hand your house over only to find a legal loophole that loses you money in the process. Most estate agents will employ a conveyancing specialist to do the work on their behalf and charge you for the service. You can cut out the middleman and contact a conveyancing specialist yourself. They will charge a fee, but their in-depth knowledge and experience will be entirely worth it.

Moving home may well be a stressful process, but if it’s something that you’ve set your mind to, you should ensure that you get as much profit as possible from your venture. Following the above steps should help you to achieve this! So, mull over them and decide which will best suit you as an individual. Then bring it into action!

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