Thursday, 28 October 2010

Rent if you can’t sell

Homeowners struggling to sell their properties in tough market conditions and anxious to move should not feel despondent.

Many property sellers are now deciding that rather than waiting to find a buyer and secure a realistic price for their property, a temporary option is to rent it out.

Before now, it would not have occurred to many sellers that they can actually rent out their property, but many are seeing it as a viable alternative to selling.

The rental market is currently booming and landlords can expect increasingly higher yields with demand outstripping supply. Coupled with this, renting provides flexibility and a source of income, whilst allowing time for the housing market to improve.

Before deciding to rent out your home, it is important to obtain advice from a reputable lettings agent who knows the local area and market well.

Before letting out your home you will have to ensure it is up to market standards, inform your mortgage and insurance companies, and make it compliant with safety regulations and other legal requirements. This is not difficult and, providing you obtain the correct advice from us and our financial services colleagues, everything should be fairly straightforward.

Property is one of the biggest investments anyone ever makes, so it makes sense to ensure that when you do come to sell you do so at the right time and can secure the best price possible.

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Why good presentation is the key to selling your home

Despite challenging market conditions this autumn, house sellers should not be discouraged provided they enhance their property’s unique selling points.

It is now more important than ever that sellers invest both time and money in ensuring their property’s key features are highlighted to potential buyers.

In this tough market, excellent presentation has never been more crucial. It is all about improving marketability and ensuring a property stands out. It is often hard to view your property through a buyer’s eyes and this is where the advice and objectivity of a good estate agent comes into play.

We recommend that potential sellers rectify any problems which could detract buyers immediately.

Basic repairs and redecoration should be carried out where necessary and gardens and outside spaces should be immaculate. Internally, clutter should be removed, rooms restored back to their original purpose (for example a spare bedroom might currently be used for storage) and old shabby furniture replaced.

We also advise that as the kitchen is now frequently seen by buyers as one of the most important rooms in a home, it is often worth investing in improvements.

Small details such as fresh flowers and a lick of paint count, and simple inexpensive renovations such as repairing peeling windows can add instant kerb appeal. If a property appears unkempt and uncared for, buyers will be put off immediately.

It is also vital to ensure that the property is priced correctly, and again this is where the skill and knowledge of a good estate agent such as us is so crucial.

We are always honest with vendors and our aim is to ensure that they sell their property at the best price possible and quickly.

Nicely presented properties always attract interest and even in this climate, sellers can still achieve a good price.

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