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Change is in the air and if you’ve been putting off plans to put your home on the market, now might be the right time to take advantage of it.
The housing market is set to play a central role under a Keir Starmer government that seeks to boost housebuilding, affordability and drive economic growth.
This is Money speaks to estate agents to find out how sellers can increase their chances of securing a quick sale at the best price.
First looks count, both on the outside and on the inside, but it’s also vital to get the price right and do everything you can to prevent a sale falling through later.
Start selling! Change is in the air and this could be a good time to put your home on the market
1. Don’t try to time the market
Putting a property on the market is not an exact science. While it may be tempting to wait and see if prices rise or fall dramatically in the coming months, delaying is not always the best option.
Jeremy Leaf, a north London estate agent and former chairman of Rics Residential, told This is Money: ‘Try not to time the market as that rarely works.
‘If you can wait a little while before putting your property up for sale, it might be a good idea so you can see what the land is like.
‘But it’s worth speaking to a trusted local agent about this approach and finding out what’s happening with other sales in your area – are they picking up speed or are there more viewings now that some of the uncertainty has gone?
‘Try to be guided by local market conditions, as they could be very different from the national picture.’
Mr Leaf is not convinced that waiting until after Labour’s first budget, whenever that may be, is the best option for potential sellers.
He said: ‘There is a risk in delaying marketing your property until after the first estimate as it can be counterproductive.
‘Most people expect taxes to rise under a Labour government, so the budget may prove to be a drag on confidence and the housing market in general.
‘Acting now, rather than waiting, may be more beneficial to you, particularly if there is an interest rate cut next month, as most buyers are still more interested in the pace of mortgage rate reductions and affordability than in political rhetoric.’
2. Build your team
The prospect of selling a home can be both daunting and exciting, but don’t rush into the process without having a solid team by your side.
Having responsive experts working with you to sell your property can make a real difference in the ease and speed of the process.
Before you think about how you will prepare your property for viewings, you need to find the best real estate agents to sell your home. There is always the option of doing it yourself, but this can be fraught with difficulties for the uninitiated.
Look for reviews of real estate agencies and, if possible, get recommendations from people you know. Real estate agencies should be very knowledgeable about the local areas and be able to offer you personalized advice on selling your home.
You will also need a lawyer. Getting a good one can often make a big difference in the selling process.
Speaking to This is Money, Donna Vogt, director of Cumbria-based agency David Britton Estates, said: ‘Selling a home can be a complex and time-consuming process, and one of the most important steps is engaging a legal team from the outset.
‘Hiring a lawyer or property transfer specialist from the beginning can streamline the entire transaction, reducing stress and avoiding potential pitfalls.
Team building: Real estate agent Donna Vogt believes it is vital to have the right attorney for a sale
‘Having a legal team in place from the start ensures that all necessary documentation and legal formalities are handled promptly.
‘This includes preparing the draft contract, obtaining title deeds and resolving any potential title issues. Early preparation can prevent delays later in the process when a buyer is found and negotiations are underway.’
He added: ‘A solicitor can also provide crucial advice on legal obligations and responsibilities, ensuring compliance with UK property laws.
‘They can identify and resolve any issues that may arise, such as boundary disputes or planning permissions, which could otherwise derail the sale.’
Having a lawyer also shows that you are serious and prepared, which can make your property more attractive and potentially speed up the selling process.
3. Curb appeal counts
Contrary to what we see on TV shows and in movies, most of us don’t live in a dream cottage or a gleaming Georgian mansion with a sweeping driveway or gardens that Capability Brown would be proud of.
However, even the ugly ducklings of the real estate world can be given a clean-up before being put up for sale.
Tidy up your bins! Property expert Alex Decmar says sellers should keep their recycling bins tidy
Alex Decmar, a property buying agent in Surrey, told This is Money: “Generally speaking, most buyers care a lot about how a house looks from the front and, combined with the fact that most estate agents start with that photo in their marketing, when preparing your home for sale you really should go out of your way to have greenery, well-painted fences and tidy recycling bins.”
David Britton, head of David Britton Estate Agents, said: ‘You have one chance to wow a potential buyer, so tidy up, consider redecorating in neutral tones and address any major issues.
‘You may love your collection of ceramic dogs on your mantelpiece, but remember that your taste won’t be to everyone’s taste.’
Tidying up, rearranging the rooms to find the optimal layout, and doing those little DIY jobs you’ve been putting off, like hanging pictures and touching up the paint, will help you when it’s time to visit the house.
If you have a garden or balcony, head to your local garden centre and pick up some fresh plants, flowers or new hanging baskets to enhance the appearance of your property for visitors.
4. Resolve the most serious problems and inconveniences
Once you have lived in a home for a while, it is likely that inconveniences and problems on your property will become less noticeable to you.
Potential buyers will examine your property closely and notice things you’ve left unchecked or unrepaired for years. Buyers have a good eye (and nose) for detail.
Don’t take any chances: fix any problems you may have in your home before visiting it
Mr Decmar said: ‘Nothing makes a buyer more wary than signs of a leak or a bathroom repair that isn’t quite finished.
‘Try to fix all the little issues to eliminate the buyer’s “objections” before they set foot in your home.
“It is human nature to look for problems when spending large sums of money and it is necessary to try to eliminate as many of those problems as possible.”
Carrying out property repairs can be a costly undertaking. Nationwide recently doubled its maximum personal loan to £50,000 as rising costs of building work continue to impact people’s home improvement plans.
If you are unwilling or unable to afford to take care of any necessary major or minor repairs, be aware that, especially if a potential buyer spots them, these defects will need to be reflected in the price.
5. Price realism
The era of sub-two percent mortgage rates seems to be a thing of the past and the new normal for mortgage rates is not going to change anytime soon.
Some lenders have begun cutting rates on certain mortgages in anticipation of a drop in interest rates this summer.
However, the downward trend in mortgage rates is slow and affordability remains a key issue for many.
Look online and in estate agent windows to see how much properties near you are worth that are of a similar size and condition.
Andrew Groocock, a partner at Knight Frank, told This is Money: ‘When it comes to price, the most important thing to remember before engaging an agent is to really understand how they have arrived at the value of the property.
Have you been shown comparable properties, have you been sold a house similar to yours and what price did you get?
‘Agents should offer complete transparency about pricing, based on facts, so that you can make a balanced decision about which agent to hire.
‘Don’t just choose the agent who offers you the highest valuation without a track record to prove it.’
6. Prevent a sale from failing
Even if you have accepted an offer on your property, there is still a chance that the sale will fall through. A failed sale can be stressful, time-consuming and costly.
In England and Wales, there is nothing to prevent a buyer or seller from withdrawing from a purchase.
As a seller, pushing to ensure a strict deadline for the exchange of contracts could be useful, although it is not always easy to achieve in practice.
Regular communication with all parties involved is key.
Harry Bethell, partner at Knight Frank, told This is Money: ‘To maximise your chances of a successful sale, prioritise communication by keeping in regular contact with your solicitor, estate agent and the buyer to quickly address any issues.
‘Along with timing, accurate pricing, proper presentation of your property and addressing any issues after the inspection are crucial factors in preventing a sale from falling through.’
He added: ‘Regular maintenance of your property and keeping up to date with regular servicing of your heating system, electrics and any structural defects are vital to prevent your property from collapsing at a later stage.
‘Addressing any post-inspection issues proactively with the buyer is also vital to keeping a sale moving forward.
‘If everything is in order, the most crucial part of any sale is regular communication between the agent, lawyers, buyers and sellers involved in the transaction.
‘A large proportion of sales can fail due to poor communication and time delays, so maintaining regular contact with the parties involved will prevent problems arising when the exchange of contracts approaches.’
