This is no doubt the number one factor when it comes to your house not selling. The price is often determined by two appealing factors; price for location and price for condition. There’s no denying that homeowners do tend to grow rather close to their property over the years and so can develop an emotional attachment that may lead to an inflated value against the ‘true’ value of the house. A great step to overcome this emotional attachment factor is to have a look at property portals in the same area as you.
You should bear in mind, however, that the majority will sell for usually 5 – 10% less than what they’re marketed at. When you’ve looked at enough properties and considered their value and condition, perhaps re-think your strategy when it comes to setting the price. Fix the house value at a realistic price after doing your research and you'll likely see a big difference in the amount of interest that you're generating.
Also make sure that you don't drop your price too low - houses that are dramatically underpriced can raise suspicion in buyers and put them off as they will think that there are hidden issues in the property that they don't want to deal with.
Not everybody likes to be greeted by over-the-top bold colours upon entrance to a property. It’s impossible to cater for everyone’s taste but providing a potential buyer with the opportunity to see the potential of what they can do with your property should be offered. Be house proud; mop your floors and wipe down your worktops − this may sound like common sense but you’d be surprised how often these simple tasks can be overlooked. A quick tidy up in the house and garden will leave a lasting impression on the potential buyer.
Make sure there are no signs of what could be construed as structural damage as this will be a huge turn-off for a potential buyer. A ceiling that endured a flood may be fixed and the roof above may pose no future threat but the doubt will have been sewn as soon as the ceiling is seen to have water damage. Natural cracks can appear in walls over the years and have no implication to the house structure but, if left untreated, could again put off a potential house buyer. So fill in any cracks and tidy up any water damage, as doing so will prevent any reason to put off a potential buyer. Have a look at our article, Hidden problems that can hamper house sales for more advice.
A good tip when assessing the condition of your property is to get an outside party you trust and ask what they honestly think of the property. Take what they say on board as they’re coming into your house as an outsider and don’t see your home every day like you do, so they’ll see things you don’t.
3. Location, Location, Location
Overcoming a bad location can be difficult. Treatment works, power plants and even flight paths can devalue a property dramatically. As a seller you may have to take a serious cut in the asking price; more so than your neighbours who may just be across the street.
Depreciation can also come from the decline in the area that your house is based. Poor economic times, or the impact of a school closure, or a new motorway can result in negative house values. This could result in you having to sell the house for less than you paid, or you could consider letting the property out to tenants if this is a feasible option. It can be difficult to negotiate a good price if you’re affected by the above when it comes to the property’s location, so sometimes accepting a reduction is the only option.
The pictures used in your advertising are the very first impression a prospective buyer will get of your house, so it could be worth having a professional or an experienced estate agent take them. If you’re going to take them, make sure they give a true representation of how the house is now. You can read our guide, How can I take the best photos of my house? here.
It’s good practice to ensure that the pictures on the estate agent’s website are listed in the correct sequence too. Remove any wheelie bins and cars away from the front of the property so they’re not in the frame. Don’t be afraid to be critical with the estate agents and do request images to be taken down if you feel they don’t do your property justice.
Buyers can be put off a house immediately if it's messy or cluttered inside, as they will find it hard to imagine their own life in the house when they're looking at yours. Spending some time decluttering and organising the place will make it much easier for viewers to picture themselves in the property, and will also increase the chances of them putting an offer in. For more information, read our article Can I sell a messy house?
Decluttering can seem like an intense and intimidating job, but start small and you'll soon see a big difference. It will also help you with your packing, as it reduces the amount that you've got to take with you - a win-win!
If you're struggling to sell your house and are looking for a quick and easy solution, contact us at We Buy Any House. We can buy your home in as little as 3 days or to a timescale that suits you, letting you pick your own completion date! Get in touch today for your free cash offer and find out how we can help.