Tips for selling your home
Buying a new home is a huge adventure – but for those who already own a home, it’s only part of the process. Here are our top tips for selling your home.
Before you do anything else, it’s important to be prepared for the costs that come with selling your home. In addition to estate agent fees, there are others which you might not have accounted for. Here’s a quick breakdown of the typical costs of selling a house:
- Estate agent fees: High street agents typically charge 1% - 3.5% of the property’s value, which could be anything from around £2,500 to £9,000. Online agents such as Purplebricks and Yopa often have a fixed price of up to £1,000.
- Conveyancing fees: Typically between £500 and £1,500, depending on factors such as who you are using, the price of the property and whether any additional searches are required.
- EPC: If you don’t already have one, an Energy Performance Certificate can cost anywhere from £60 to £100.
- Removal costs: Essential but very individual, removal costs can range anywhere from £400 - £1,200 depending on how many belongings you have, how far you’re moving, and if you’re doing your own packing.
If you are specifically looking to buy a new build, Persimmon offers some great schemes to make the process of selling your home and moving into the new one easier, quicker and more affordable.
- Part Exchange: If you haven’t yet put your house on the market, Part Exchange is a fantastic hassle-free way to move. If you’re eligible, Persimmon will agree a fair price for your home with you and appoint estate agents to market your property on our behalf. This means you won’t have to deal with chains, estate agent fees or delays.
- Home Change: Ideal for taking the fuss and cost out of moving house, Home Change works in three simple steps. We’ll agree a price for your home so you can part-reserve your plot, help find a buyer for your home, and then manage the sale once a buyer has been found. Giving you more time and money to spend on your new home!
- Deposit Unlock: If the costs of selling your home are eating into your deposit, Deposit Unlock could be a great option. The scheme enables participating mortgage lenders to offer 90-95% LTV mortgages on new builds, meaning you could move with a deposit of just 5%.
Style to sell
Prior to getting your house on the market and ready for viewings, it needs to look appealing to potential buyers. Start on the outside and work in – the exterior can speak volumes and first impressions count. A well-kept garden, fresh-looking windows and doors and a tidy driveway could make all the difference.
Think about the type of buyer you’re trying to attract. If it’s young professionals perhaps clear some belongings and stripping it back for a more clean and minimal look. If it’s a family, show off the storage spaces in a neat and tidy way.
Either way, it’s a good idea to declutter (this will serve you well when it comes to the move) and give the place a bit of TLC – paint over that scuff on the wall you’ve been meaning to get to, replace the chipped tiles in the bathroom and give the carpets a good clean. You could also hang mirrors and consider painting dark rooms in a paler colour to maximise the light.
Think about removing personal items such as photos, sentimental decorations and toys – the buyer needs to be able to forget they are in someone else’s space, and see it as a blank canvas for themselves.
Get an EPC
At this point you’ll also need to obtain an Energy Performance Certificate (EPC), which is a legal requirement. A certificate remains valid for 10 years, and you can easily find out if yours is still valid on the gov.uk website (https://www.gov.uk/find-energy-certificate).
If you need a new EPC, you can obtain one through an energy assessor or ask your estate agent to sort it out for you. A new EPC will typically cost between £60 and £120.
Valuations and estate agents
The general consensus when selling is to get at least three valuations. If one is especially high ask why. This could be purely a ruse to attract your business. If in doubt, keep an eye on the property pages and look at similar houses for sale on the internet. Before choosing an agent, double-check the small print and don’t be afraid to negotiate on fees and levels of service. Local newspapers will give you a clear idea of the estate agents in your area and the type of houses they are used to selling.
Selling through an estate agent isn’t your only option – some people opt to sell their houses themselves, or use a cheaper online agent such as Purplebricks – but a high street estate agent will look after the whole process for you and have more knowledge of the local market.
Appoint a solicitor or conveyancer
Before you receive and accept an offer on your house, it’s a good idea to appoint someone to get the legal work done so that it will be ready when you do have an offer.
You can use a solicitor, most of whom will offer a conveyancing service, or you can use a licensed conveyancer. It’s the conveyancer’s job to draft a contract, apply for the title deeds, and arrange all other aspects in transferring ownership of the property.
Accepting an offer
With all this done, hopefully it won’t be long until you receive some offers on your property. But choosing a buyer isn’t as simple as going with the highest bid. Consider factors such as who is able to move soonest, who is chain-free or has the shortest chain, and who is in the least likely to pull out. Although you don’t have to get on like a house on fire, also think about who seems reasonable, polite and less likely to make the process difficult.
All being well, you should soon be on your way to selling your property and moving into your new Persimmon home!