Whether you are buying or selling, finding your way through the property market can be challenging – not to mention extremely stressful. With so many things to consider, it’s hard knowing where to start. So before you jump in head first, here are some useful tips from John Elliott, Managing Director of Millwood Designer Homes, to help make your journey a lot easier.
Sell your home first
If you have a home to sell, it is vital that you find a buyer before you start looking for your next home, particularly in a buyers market. We have recently seen a lot of people disappointed because they have fallen in love with a house but have not been in a position to buy. In the end, they have lost out on their dream home to someone who has a buyer for their property and already has their funds in place.
I would always recommend that you invite three estate agents to value your home in order to get a realistic guide but remember, the highest price isn’t always going to be the right price.
Show your home at its best
In order to sell your home as quickly as possible, you need to remember that in today’s market a lot of people are searching for properties online. If you don’t have good photos and a floor plan you could seriously jeopardise your chances of a sale, and if there is anything you can do to improve the aesthetics of your home then it can be worth spending the money. Just giving your walls a lick of paint to cover scuffs and chips can really help bring a room to life.
Do your research
When you have an offer on your home and can seriously start looking, make sure you do your research. Have an idea in your head of what sort of home you are looking for and the location, then explore the area to ensure it fulfils your requirements. For example, if good schooling is important, visit the local schools and find out about their performance and grades. It is important that your priorities are in place as ultimately, most people will have to make a compromise along the way.
Know your finances
Before you start looking, it is essential that you know exactly how much you have to spend. Be realistic with what you can afford. With interest rates at an all time low it is important to find the most suitable mortgage for you, and you must always allow for the fact that interest rates will go up at some point which means your monthly payments will also go up. I would always recommend going to an independent mortgage adviser who has access to the whole market, not just a selection of products. Anything less and you could be missing out and paying more than you need to.