Once you make a decision to put your Sidcup property on the market, how do you know how to price it accurately? We have these five quick tips for sellers:
Remember housing markets are local
While national reports on house price trends can provide a useful indication of the state of the wider property market, it's essential to realise that housing markets are local. Even within local areas there can be a number of micro markets, for example we often see higher prices achieved for properties near certain popular schools in Sidcup and some roads that are easy reach of to the Station. Sometimes period properties also command higher prices due to a lack of availability as most properties in the area were built in the 1930's.
Make sure you do your research into how house prices have been affected in your region, town – even street. Take a look on websites like Zoopla.co.uk and Home.co.uk to see how other properties in the area are priced. Also check to find out how much similar homes on your street sold for; a number of websites provide this information.
Be aware of trends and price accordingly
It's not enough simply to understand how houses are priced in your area at the moment – it's also important to know the direction that they are travelling. This can also help you to price cleverly. For example, if prices are dropping by one per cent every month and you want to sell within three months – drop your price by three per cent at the outset. This will give you a more competitive price and increase the chances of getting a good offer. Additionally there are areas and types of property where prices are still increasing.
Ask the professionals
Often the easiest way of getting the most up-to-date information you need is to consult a respected, local professional. Agents who are members of the NAEA, which means they are experienced and qualified, can be found at www.naea.co.uk. A professional agent can be invaluable in the selling process.
Put yourself in the buyer's position
You need to be realistic when you price your property – the memories that make the house so valuable to you aren't shared by the buyer. More likely, they are thinking about what they will change about the house! There is no point putting a value on sentimentality. Again take advice from an NAEA member.
Know what you're prepared to accept
There are two figures to be aware of when you are selling your property – the amount that you would like to receive and the figure that you are prepared to accept. Knowing both of these at the outset will help you to price your home and also make negotiations with buyers more straightforward.
Keep up to date with the Sidcup property market by visiting The Sidcup Property Blog on a regular basis – on the blog you can find many articles on the current condition of the local property market and important predictions on where property prices are going.Want to know the potential Sales or Rental value of your property? – use our FREE instant Online Valuation tool to give you a guide in less than 60 seconds:Read more articles: Why not read more of our articles on the Sidcup Property Blog click here
Speak to me: If you'd like to have a chat about anything in this article or property related, drop me an email at firstname.lastname@example.org – I'd love to hear from you.
Paul Long (Director & Author of The Sidcup Property Blog)