Wed 08 Jun 2016
Should I spend money on some improvements before putting the property on the market?
Firstly, unmodernised is unmodernised! It is generally a waste of money to do a few improvements on a house when the buyers we are looking to sell to will want to do their own thing.
You could also potentially fall between two markets and ultimately find no improvement in achieved sale price.
Sell it as newly refurbished, or leave it be!
If you are going to do any work there is no halfway house, either do it all and sell it as a newly refurbished property or leave it be. Ideally just do some general work such as emptying the house of debris, clearing away an overgrown garden etc. These will cost you little other than your time and labour but it will make the property show better.
It is important to price the property correctly, don't be tempted to set the asking price so high it alienates the buyers looking for a project. Listen to your agents advice, price at the right level and It may well be that you end up with several competing buyers.
Why not try an 'Open House' viewing arrangement?
An ‘Open House’ viewing arrangement will also help stir up competition between buyers; this could lead to a 'sealed bids' scenario and ultimately achieving a figure above the guide price.
Do make sure your estate agent finds out what the buyer's position is. Do they have a property of their own to sell? What level of mortgage are they applying for? How much deposit do they have? Have they renovated a property before, or will they be in for a shock when they get their building quotes in?
Always consider the position of the buyer in context. Ideally your agent will provide as much information as they can about each buyer to help you make the right decision on which offer to accept.
Why not check out some of the properties we currently have on the market that are ripe for improvement and modernisation.
- Tower Road, Burton Upon Trent - 4 bedroom detached on an excellent plot.
- Soar Road, Quorn - 3 bedroom detached in a sought after village location.
- Beacon Road, Rolleston on Dove - Recently SSTC but register with us now for similar properties.
- Soar Road, Quorn - COMING SOON - 5 Bedroom character home - contact us now to register your interest.
If you need further advice then we would love to hear from you, contact your local John German office now.
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