How to sell your home quickly this Summer

In this month's edition, we start off with our top tips for those looking to sell their home this Summer.

We also provide our guidance for those of you looking to become a buy-to-let landlord, we look at why reports of a 'weak' housing market could be exaggerated, reports suggest that traditional estate agents are providing their customers with good value for money and finally, Rightmove have released their latest House Price Index, featuring some fascinating statistics relating to the market's current health.

How to sell your home quickly this Summer

With plenty of buyers motivated to move before the winter months set in, summer can be the perfect time to sell your property. If you’re selling, or considering selling, then read some of our pointers to help you sell quickly this summer…

Kerb appeal
As is always the case with selling properties, a first impression can make or break a sale with a poorly presented property often putting off buyers before they have even set foot in the home. In the summer this is especially important as buyers will often drive or walk past a property before they decide to book a viewing. With the summer sun shining a light on any less-than-perfect parts of the exterior of your property, you should ensure that flowers are planted, weeds are pruned and lawns are mowed. Extra attention to details, such as ensuring that the front door has been cleaned and the windows are streak-free will pay dividends in your selling process.

Accessories
A neutral interior will appeal to a mass market and increase the scope of your property in terms of potential buyers, but if you are looking to make the most of the summer then don’t be afraid of colour. Using accessories to add pops of colour around your home that reflect the brighter summer season – such as burnt orange and lemon – will make your property stand out from the crowd in those all-important photographs.

Lights
When we think of summer, we all first think of sunshine and brighter evenings – so make the most of this light when presenting your home for sale. Get rid of heavy curtains and dark blinds, which can make a room feel smaller and prevent the light from entering a room. Buyers want to feel that rooms are bright and spacious, so if possible, have windows and doors open throughout the house to create a light, airy feeling (as well as bringing in those fresh summer scents).

Set dress
Set dressing refers to the arranging of a room or space in order to paint a picture of the kind of lifestyle which could be enjoyed in your property. Never is it more important to set dress your garden than throughout the summer months, with potential buyers wanting to know that they will be able to enjoy the outdoor space which your home provides. Tempt potential buyers by showing off your outdoor spaces with garden furniture, fire pits and barbecues.

Viewing times
During the summer months, many people like to start work early and leave early in order to benefit from the longer evenings; make sure that you can accommodate as many viewings as possible by being flexible with your viewing times. Allowing people to view your home early in the morning, as well as in the afternoon will help bring more people through the door as well as showing off your property in favourable light.

Interested in becoming a buy-to-let landlord? Read our guide

Bricks and mortar have always been a bolthole for people looking to invest their money in a safe place and, despite recent changes to the lettings market, buy-to-let remains a popular investment avenue. If you are looking to become a buy-to-let landlord, then the results can be fruitful – follow our five tips below to start your journey!

Mortgage Matters
The first port of call if you are considering becoming a buy-to-let landlord is the mortgage market; either with your current mortgage provider if you are looking to convert a current mortgage into buy-to-let, or to the general marketplace if you are looking to buy a new property for lettings purposes. Ensure that you shop around for your buy-to-let mortgage as the marketplace is currently extremely competitive in terms of lending, which should help you to obtain favourable rates. If you are converting your mortgage, ensure that your lender has granted you “Consent To Let” before you move any tenants into the property.

Managed or Unmanaged?
With the recent surge in tenant and landlord legislation, managing your own property may seem like a daunting prospect. If this is the case, then look for a reputable estate agent who will manage the lettings process for you – this will take a lot of the stress out of letting a property for you. If you are more confident, then you may want to work with an agent to list your property and find tenants, but then manage those tenants independently – if this is the case then seek as much advice as possible and keep legislation at the top of your list as a landlord.

Landlord Insurance
When it comes to buy-to-let properties, you will need to make sure that you are covered for every eventuality. Specialist landlord insurance is a must, as well as buildings insurance, and if you have furnished a property then contents insurance may also be required. Speak to your chosen estate agent about their recommendations in terms of insurers and remember that spending a little on comprehensive cover may save you a lot in the long run.

Financials
Once you have your buy-to-let mortgage in place, you have your tenants in a fully-insured property and you are reaping the rewards, one of the key steps will be filing your taxes correctly. With buy-to-let being an investment source, you will have to pay specific taxes regarding the property and the profit which you are making from that; speaking to an accountant will help you to get your finances in order. Further to this, you will be able to offset some of your expenses and costs against tax – don’t miss out on these opportunities.

Target Market
It would be easy once you have your investment property in place to then sit back and relax. One of our recommendations would be to keep your finger on the pulse of the lettings market and adapt your property accordingly. Currently, the student lettings market is extremely popular and the potential rental yield extremely high, therefore it could be a good market to position your property within currently. As the economy changes, families may be the driving market in lettings, or indeed young professionals, therefore stay flexible with your offering and you may well be able to increase your portfolio.

Newly-marketed property prices rise, according to House Price Index

The price of newly-marketed property increases by an average of 0.9% (+£2,841) this month, buoyed as usual by the Spring market's higher buyer demand.

Click here to read Newly-marketed property prices rise, according to House Price Index.

Reports of 'weak' housing market appear to be exaggerated

Headlines of late have focused on the political instability which may have a negative effect on the property market; however, when we look at the statistics it becomes evident that the reports of a weak housing market have been grossly exaggerated. New research by Zoopla has shown that properties in Britain sell in just 56 days, on average.

In the period between April 2018 and March 2019, looking at the 50 towns with the largest number of property listings, 56 days was the average time period for a property to go under offer. Elsewhere, in Scotland it took less than four weeks for properties in Falkirk and Edinburgh to find a buyer.

“Despite widespread reports of a subdued housing market, Brits may be surprised that it takes less than two months for the average British property to go under offer from the date it was first listed for sale,” says Zoopla spokesperson Annabel Dixon.

“The key is to get your pricing correct, meaning the best way to sell your home quickly is to ask for its true value given the current market. Overpriced homes won’t shift and may have to be discounted and, on the flip side, nobody wants to sell for less than their property is worth.

“Wherever in the country you are buying, it will pay dividends to get your finances and paperwork in good order ahead of time,” she adds.

Traditional estate agents found to provide good value for money

With recent changes to the landscape of estate agency, including online-only providers and new fee structures, it may come as a surprise to some to see that traditional estate agents are considered good value with regards to fees and value-for-money, estate agent comparison site GetAgent has found.

The review site has found that 84% of home sellers who purchased a property over the last year decided to use a traditional estate agent, with 69% of those feeling that the fee which they paid was good value for money. It would seem, therefore, that when making one of the biggest decisions that many of us will ever make, the traditional method of building a relationship with an agent who then leads you through the buying or selling process is still heavily favoured.

Colby Short, founder and chief executive of GetAgent.co.uk, said: “We’ve seen some big changes to the sector over the last decade through the rise and fall of the online agent and this consumer learning curve has led to an adjustment in opinion when it comes to the fee charged to sell a home.

“While a low fixed fee may have seemed like the future of home selling and many may have sold successfully via that model, a number of high-profile company collapses along with a consistent string of customer service failures has seen the market share of online agents fail to live up to expectation.

“Previously, the commission fee charged by traditional agents was seen as too high, I think the consumer is now starting to realise that you get what you pay for.

“To pay a few thousand pounds in commission to achieve a higher sold price while securing a buyer in current market conditions is ultimately much better value for money than a few hundred up front and no sale achieved at the end of it.

“Of course, the current lethargy plaguing the market is not ideal and has evidently had an impact on the price achieved and the time it’s taking to sell, but I think it has helped demonstrate the worth of a good estate agent which is a silver lining for the industry at least.”