Selling a house in the current environment has its challenges, but it is certainly not impossible. There’s been a flurry of interest with the easing of lockdown, so Sam Funnell from Fine & Country Rugby discusses the government incentives and the top things to consider.
Like all things at the moment, the property market is in a state of evolution. Property agents have adapted quickly and continue to do so, to operate within changing conditions and legislation. Viewings online are taking on more importance and only the most serious buyers are moving forward to attend physical viewings. This means agents are spending more time with the buyers who are most likely to proceed to purchase.
There is still some uncertainty around the long-term impact of the pandemic on the housing market, particularly when government support measures come to an end, but the government has announced a number of initiatives to help economic recovery. The stamp duty freeze on properties up to £500,000 provides significant savings for buyers. This is in place until March 2021 and is likely to give the property market a boost. It will help to restore confidence in the market and provide an incentive for people who were considering buying before the lockdown. This means if you’ve been considering selling or delayed putting your home on the market, now may be a good time to list your property.
It always takes a month or so to prepare a property for sale. Presentation has always been important, but in the current market it is essential. In the past sellers may have got away with skipping a few details in presentation, but now, if your property is going to stand out, it needs to be perfect.
If you’re considering undertaking any improvements, it is worthwhile noting that prior to the lockdown, buyers were showing more interest in the energy efficiency of properties. Amenities such as solar panels and landscape lighting powered by solar energy are increasingly valued. A drainage system that recaptures rainwater for use in the garden and using water-wise low-maintenance plants all add to the appeal.
The government has also begun to take environmental factors seriously and has launched a Green Homes Grant scheme. The £2 billion home improvement fund allows homeowners to claim up to two thirds of the cost of work done to improve the property’s energy efficiency, capped at £5,000.
The quality of online marketing materials is crucial in reaching potential buyers. It has become the main way buyers evaluate a property before undertaking a physical inspection. Quality property photography, floor plans, videos and virtual walkthroughs are key in helping properties stand out. Potential buyers regularly return to digital images after they’ve made a physical inspection. This is often the point at which they envision themselves living in a property and make the final decision, so make yours count.
For advice on selling or buying property, please contact Sam Funnell on 07714 515484 or visit www.fineandcountry.com