A strange phenomenon happens in the negotiation of a house sale. The buyer lists all the tweaks and changes they need to make to turn this property into their home and then chops that off the asking price. The sellers generally counter offer and settle somewhere in the middle. However, do we ever ask ourselves why we are so willing to give away maybe £5,000 in the negotiation when spending £1,000 upfront may have prevented it. It’s the psychology of losing what isn’t really real to you from your asset value, rather than handing over hard cash.
Let’s be honest…Brexit and stamp duty aren’t doing the property market any favours! House prices in London have fallen for the fifth quarter in a row. And those negotiations are more and more often landing on the buyers end of the scale as sellers get more and more desperate! What can you do to tips the scales in your favour?
For many sellers it may be that their particular love for their avocado bathroom (though dear to them) isn’t quite what the general public sees as their ideal home. Or perhaps it is simply a coat of paint or the removal of clutter that will allow a buyer to see the potential of a property.
Staging alone (enlisting professionals to make the best of what you have in your home for promotional photographs) leads to listed properties spending 73% less time on the market and typically sell for more money according to the Real Estate Staging Association. However, redesigning your home doesn’t need to be costly either, and can lead to a significant increase in the value of your home on the market.
For example, we recently had clients purchasing a Victorian town house. They fell in love with the house before even entering the property. However, the rather flamboyant design choices of the current owners, and the wear of tear of small children, meant that they struggled to see past the interiors to visualise the potential of the property. Having wavered over whether or not it was possible to turn this into their dream home, and having already assumed hundreds of thousands of pounds to renovate, they contacted us for help.
We fell in love with the property immediately and saw incredible potential to turn this into not just a cosy home, but a stunning design property. However, it wasn’t until we walked around the property with our clients, helping them visualise the small tweaks and simple touches that would make their new home the ideal canvas to design their dream home. Not only did this give them the boost they needed to make an offer, but also the confidence to offer slightly more to close the sale, knowing that their new home could be transformed for much less than they had assumed.
Though we offer a free service to help potential buyers understand the potential of a possible new home, many don’t have the opportunity to do this and are simply left to imagine what they can…so it’s up to you to make that as easy as possible for them! Why not follow some of our top tips that you can do on your own when selling your home to ensure you get the best price:
Tops Tips from our Creative Director to help you sell your home:
Freshly painted walls can transform a room. Keep colours neutral (we recommend light greys and soft beiges – not magnolia!). If you are painting walls yourself and are pushed for time then we recommend using branded paint as it is often thicker and may only require 1 or 2 coats in some rooms. Cheaper paint may require 3-4 coats.
Kitchens and bathrooms can be big selling points on properties so it is important to keep these areas clean and fresh. Hang fresh towels in bathrooms, invest in some scented diffusers and use fresh or faux flowers to revive tired rooms.
Make sure all your lights are working and swap them out for energy saving warm yellow bulbs to create that cosy feel...try and make sure the lights are on for your viewings!
Declutter surfaces and dress areas neatly with books and accessories instead – we are writing a new blog post on dressing and styling so use this for tips!
At Q Design House we personally believe in the time old tradition of putting out some freshly baked cookies...though that may have more to do with our tummies than house sales!
To go beyond our simple tips, please contact us and we can discuss how we can help you redesign your home to boost your sale value: firstname.lastname@example.org