THE real estate market, like most other industries, has had a turbulent year (or two).
With Covid restrictions in place at the start of the year, meaning fewer property sales, the volume of residential transactions in Scotland has fallen 6.5% from 2019-20 record highs. But the surge in demand as the market recovered has meant house prices have hit an all-time high of £ 194,100, reaching their highest level of £ 199,954 in the fourth quarter of 2020-2021. This was good news for those looking to sell with their home rising in value and making huge profits, and those who sold did so quickly.
It takes a lot of preparation to sell your home, from organizing your finances, buying a new home on your own, and preparing your current home for the market. December is normally the quietest month for real estate searches, but in January, home visits can increase by up to 46%, as in 2021, before the pandemic. That’s why, if you think 2022 is the year of your next move, now is the time to prepare your home so that as soon as the bell rings in Hogmanay and your hangover has subsided, you’re ready to go. welcome viewers.
So how can you prepare your home for the market now?
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Take your photos now
You want to show off your home in a perfect way and when it’s at its best. Things like decorations and the weather outside can date your photos and make your ad look like it’s been on the market longer than it has been. You don’t want Christmas decorations to clutter up your photos, so now is a good time to have them taken before the garlands take over. It’s also a good time to move on if you think you’ll be a little busier soon. If your schedule is filling up, so could the photographers.
If you think your home would need a bit of TLC to make it shine, then now is a great time to pull out your brush, too. Not only are there some great deals in DIY and home stores for Black Friday and Christmas, but you’re definitely expecting a few guests over the holiday season, another great excuse to spruce up your home. .
Do your finances now
As the end of the year approaches is a great time to sort out your finances, whether you are looking to sell your home or not. Assessing your current income and expenses and taking an overview of your expenses for the year is a great way to help you plan your future big purchases. The cost of living has increased in recent years and does not appear to be slowing down. Our monthly bills have gone up, which might not register initially as they may have been small increases, but doing a year snapshot will allow you to compare the bills that are now costing you the most. If you are applying for a mortgage to finance your move, you will need to assess your financial capacity anyway. Remember that real estate prices are high which is good for your selling price, but it also means that you will have to pay more for a new home as well.
To be far ahead of
Getting your home up for sale before the New Year means you’ll have a head start on everyone else and could potentially get an early sale. It will put you in a great position if you are selling and buying at the same time. By finding a buyer for your current home, you can feel more confident about finding a new home and making an offer. Buying and selling at the same time is a balancing act and sometimes the timing just doesn’t work, but by making sure you are prepared in advance and have planned different outcomes, you are much less anxious and can profit a lot. bit more of the process. Plan the scenario if you find a buyer before you find a new home; do you have a place to go temporarily so as not to jeopardize the sale? Would you need to negotiate with the buyer for a longer entry date? Another scenario to consider is finding a dream property before you sell your home, but the best way to avoid this is to prepare your property for the market as early as possible.
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Estimate your home
Having your home appraised is so easy and many real estate agents offer this service for free, so there is no harm in getting an appraisal as soon as possible. Luckily s1homes can help, just visit s1homes.com/selling/estate-agent, enter a few details and we’ll get in touch with the local real estate agents and they’ll get back to you directly.
You can also find FAQs on the selling process, what happens during a visit for your review, and other great selling tips.
When it comes to finding your next home, you’ll find all of the best properties for sale in Scotland and the UK. s1homes.com. Start your research today.