25 Aug How to sell a property in need of refurbishment
Selling property is no easy task at the best of times – yet selling a property which needs refurbishment is often even trickier to master. With wariness in the traditional property market growing, there are thankfully a few ways to help make your property shine amidst the competition (even if it needs a little work).
Selling with major refurbishments required
Depending on the size of the refurbishments needed, you may be able to solve some of them before putting the property on the market. This will help you secure a larger sale price in most cases. However, selling with larger refurbishment projects is a more complex endeavour. You’ll want to ensure the property is structurally sound, or if not, at least ensure you provide all the details required for a buyer to decide whether it is worth their investment.
Each issue needs to be outlined so your buyer is able to assess carefully, so be sure not to try and cover over any problems the house may have. While it could be tempting, this will ultimately result in more costs and issues further down the line – as well as unhappy buyers.
Decide where to invest
You may decide to invest some time and money in a few key refurbishments before taking the property to market. In many cases, this proves to be a great idea, allowing you to provide an initial outlay with the promise of greater returns when it comes time to sell. However, tread carefully. Some repairs produce more dividends than others, so choosing where and how to refurbish the home is always something of a gamble.
The best way to get the most from your activities is to think carefully about who you are selling to and the value your home improvements will have for them. If you were looking at the house as a prospective buyer, which features would you care about the most? Where would you consider the task too large to take on, without some work?
Many houses can be improved significantly with just a few minor adjustments which help them look more ‘sale ready’. Look at your door frames and windows, perform a deep clean on the property, and adjust anything which looks too unkempt. We would normally advise against undergoing larger-scale refurbishments, as they could end up only costing you more in the long run.