Are Your Ready To Sell Your Home?
The UK’s housing market has been under an intense amount of strain recently. And now that the tide is turning, there is further demand in the housing market. An increase in those working from home, along with a nationwide saving of £180bn, has caused a peculiar housing market situation.
It sounds crazy, but even though the country is experiencing one of the worst recessions in years, people are still moving homes, investing and jumping on the ladder for the very first time.
Why is there still demand despite vivid-19?
First-time buyer mortgage guarantees- The new, government-backed first-time buyer mortgage scheme, is helping those buying a house for the first time to get onto the property ladder with just a 5% deposit.
Time to save- With the lack of expensive holidays to buy, and no restaurants to spend our money in, many have taken lockdown as an opportunity to save. Unfortunately, a lot of people had the same idea and are now in a position to buy.
Working from home- City goers that previously thought they could never live without the hustle and bustle, are now seeking greener surroundings. With a push to work from home, many are looking to vacate the city and occupy somewhere with more pleasant scenery.
The real question is, with the current housing market siding with the seller, do you actually have everything you need to be able to sell?
Here are the main things you need to think about before putting your house on the market..
Have you got the equity- For most homeowners, being financially ready to sell your house comes down to one factor: equity.
Do your research– As tempting as it may be to just make a snap decision, you need to do your own research. Talk to the right people, and make sure that the decision to sell is absolutely right for you.
Get certified– If you’ve recently renovated or converted a property and are looking to sell it, you need to make sure that you’ve got the right certifications. Doing things by the book is essential when you’re converting property or building a brand new house. If not, you can get caught out with a house that’s either uninhabitable or unsellable.
Check your property– If you have built or converted a property and you wish to sell to someone that needs a mortgage, then you must ensure that it was built or converted under a building standards indemnity scheme that’s acceptable to mortgage lenders. More often than not, mortgage lenders will only lend on a newly built or newly converted property when it has been covered by a warranty scheme or Professional Consultants Certificate (PCC).
Contact a professional– To make sure that you can sell your newly built home, we’d suggest getting in touch with someone that can provide you with a Professional Consultants Certificate.
Can you find a property that better suits your lifestyle?- Another factor to consider is how well your home meets your everyday needs. Perhaps you could use another bedroom (or even two) for your growing family? Or maybe your kids have all moved out, and you’re ready to downsize. It’s freeing to sell a large home, pay cash for a smaller one, and invest the rest for your retirement.
Are you emotionally ready to sell?- If the numbers show you’re financially ready to make a move, great! But don’t forget, selling your home is an emotional issue too. Before you plant the “For Sale” sign in the front lawn, take a minute to answer just a few more questions:
- Are you ready to put in the work to get your house ready for house hunters?
- Are you committed to keeping your home ready to show for weeks or months?
- Are you ready to hear the reasons why potential buyers believe your home is not perfect?
- Are you ready for honest negotiations over what buyers are willing to pay for your home?
- Are you really ready to move out and leave the place where your family has made memories?
Sell your property– One of the main benefits of a Professional Consulting Certificate is its speed. As long as your property passes inspection, you can expect to receive your PCC within 24 hours. Get ready to put your house on the market and sell with ease.