But how does that help if you’re not ready to sell?
So, the Exeter property market is booming. House prices have sky-rocketed and everyone’s telling you there’s a shortage of property and that there are lots of buyers who will pay a good price for your home.
All very interesting, but what if you’re not interested in selling at this moment? And if you are, how does having lots of buyers help if you can’t find anywhere to move to yourself?
An equity boost doesn’t help you find your next home
The reality is that whilst many Exeter home owners have enjoyed an equity boost in the value of their home over the last eighteen months, those who are looking to move up the property ladder are now having to pay much more for their next property. Couple this with the fact that following the end of the stamp duty holiday (and also as we approach winter) there’s so little fresh property coming to market, it’s not surprising that even those who have good reason to want to move, are choosing to stay put for the moment.
Not the right time? When is?
But what if you’ve outgrown your present home? Or, what if you need to downsize? Have a job move or maybe your relationship is at a crossroads? Will waiting until the spring, in the hope that it will be a better time, with more choice and prices more stable, really be the better option?
Almost certainly, no.
Of course, traditionally, the spring often sees more property come to market – but with more choice, comes more buyers and with Exeter now well past the tipping point as one of the top cities in the UK where people want to live, the competition for property here is unlikely to cool.
Plan ahead and get your ducks in a row
Prices look set to stabilise but if you have reason to move in 2022 then the best advice is to plan ahead if you are to take advantage of both prices and choice. Of course, with Christmas fast approaching , your attention at the moment may be on other things but whatever your reason for a move, NOW is the time to start thinking about getting your ducks in a row.
The first three months of the new year will almost certainly offer sellers less competition from other sellers, who wait until the spring. However, buyers are out looking in massive numbers before the decorations are down. January, February and March will undoubtedly see many of them prepared to pay a premium to secure the right property for a move by the summer.
Here’s a few tips:
- Get you property valued and get advice how best to achieve best price, as and when you are ready to sell. It’s one thing selling, but a few tips on what will make a difference and what won’t could save you time and trouble and add thousands to your sale price.
- Choose an agent with a track record of success selling properties similar to your own. One you feel confident you can work with and trust to represent your interests throughout the process. As important is making sure your agent has enough staff to arrange and accompany multiple viewings – Selling to the first buyer that comes through the door is rarely the best thing to do.
- If you are looking to buy – choose an agent that provides a FREE search and acquisition service to help you find and secure your next home, rather than leaving it to chance. Not every property is advertised and when it is, you want to know about it in advance. After all, to many people selling is just half the job. The important half is getting the right property on the right terms to tie-in with your sale. Invest time in speaking to your agent to explain what you are looking for, your must haves and nice to haves, where you would prefer and where you would consider and how much you could afford to spend. Don’t wait for it to pop-up on Rightmove – it will probably be too late.
- Lights, Camera, Action! – Floor plans, EPC, photos and a narrated walk-through video are important. It may seem early – and you certainly won’t want to have photos when the Christmas decorations are up – but time spent on quality photos and video will make a huge difference to selling your house for the best price – and could even help achieve an off-market sale.
- Start compiling your paperwork and keep it in your home moving folder – not exciting, we know, but an essential part of the selling process that is best dealt with in good time and BEFORE you put your property on the market. Also, planning permissions, building regulation approvals, guarantees, warranties. Time spent on this can prove invaluable and save time, avoid unnecessary delays and the spectre of an aborted sale. Ideally, work with an agent that has a dedicated in-house Sales Progression Management team who will work with you every step of the way.
If you’d like to discuss our FREE search and acquisition service*, get in touch by calling 01392 427500
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