Selling a property, especially a cherished home, is a potentially stressful endeavour. Alongside the paperwork and relocation tasks involved, there is also the subject of money. While the UK’s housing market is currently undergoing a substantial period of strength, there is still the chance that your property may lose out to neighbouring competition or end up receiving offers below your asking price.
With the right interior designs, consideration, and property assets, this doesn’t have to be the case. In fact, it is possible to increase demand for your property to the extent that prospective buyers make offers over your asking price, so as to ensure that they will be chosen. To achieve this, however, requires an investment of time and money. As long as you have the resources, however, you will certainly make a great return.
One of the most common leverages a potential buyer has when negotiating a property price is the potential cost of renovation. For example, if essential assets, such as boilers and windows, have been unchanged or poorly managed for a number of years, they will need to be replaced or repaired. Doing so invokes costs that will likely be deducted from any offer that is made.
It is in the seller’s interest to ensure these costs are kept to a minimum and that the property is as future-proofed as possible. Since the potential deductions of an asking price are certain to come from estimates, it is best that the renovation work is undertaken by the seller before a sale takes place. If sellers are able to simply move in right away, with little reason to perform work, they will be willing to pay the price.
Luxurious assets, like saunas, log cabins, and wine cellars, might seem overly indulgent but they are becoming more ubiquitous, not only for their personal enjoyment but because of the value they add to properties. Part of their popularity is due to the appearance of associated costs; the assets themselves project a sense of wealth and decadence, whereas the reality is much more affordable.
So, if you’d like to stand out from your neighbours and offer a memorable property that draws attention with its appealing assets, you are likely to be rewarded.
As smart home designs begin to become more established, features like electric car chargers, integrated utilities, and renewable energy systems are more likely to be expected by buyers. One caveat, however, is that many of these systems require an initial, quite substantial set up. Installing an electric car charging point, for example, can involve reinstalling the property’s entire electrical system.
Cleverly, these projects can best be taken on in advance, when potentially coupled with other renovations. If electrics need to be replaced, then it is logical to combine the project with a similarly intrusive renovation, like replacing floorboards or drywall.
Modernising a property in this way also adds assurance, helping the buyer to feel confident in the care that the home has received from the owner, a quality that is sought after during the home-buying process.