Happy New Year to you all!
The start of the year is when most people seek a fresh start and make putting their properties on the market one of their New Year resolutions. However there was a suspicion that the normal surge of properties on Boxing Day may not be as record breaking as in previous years.
Yet December 26th 2022 saw the highest number of new properties put up for sale than has ever been recorded on any Boxing Day. This was up by a staggering 46% compared with the same day the previous year.
2021 was a mad year for transactions and shook previous home selling trends. Estate agents and conveyancers rose to the challenge to meet the stamp duty deadline and deliver savings for home sellers.
While 2021 was the year to sell fast during any month, January is when people start to think about the year ahead and, historically, some of the best sales have taken place in the New Year, often in January, February or March.
Appoint a great estate agent
An estate agent can help sell your home by taking professional pictures and getting it on property portals such as Rightmove and On The Market..
You can choose between a local independent agent like us, we will only charge a commission when the property sells or an online agent who may charge fees upfront.
Whoever you chose it’s important to check how good the agents really are at selling properties in your area.
Check out our Google reviews or ESTA reviews, we continue to to have a an average of 4.7 on google and 98% on Reviews | ESTAS – The Estate Agent of the Year Awards (theestas.com)
Get your house ready for sale
Make sure your home is presentable for viewings.
Prospective buyers could be put off by a messy looking property or if lots of renovations are needed.
A lick of paint could make a home more attractive and address more serious issues such as damp, electrical faults or a broken boiler to avoid sale delays.
If there are any issues that might come up in a survey and delay the move, consider fixing them now.
It’d worth considering Energy efficiency improvements will be more of a selling point this year.
Let your estate agent take the lead
Estate agents earn their money when it comes to negotiation and securing the best price.
Not everyone is confident when talking about money and it can be hard when it is your own home.
But it is an agent’s job to get an offer from a buyer that is best for you.
Let your estate agent take the lead at viewings and tackle any tricky questions.
Let them advise on negotiations, this year there is likely to be a change in the previous couple of years when asking prices and over have been achieved more often than not.
Choose the right buyer
Everyone wants to get the best price but there are also lots of different buyers to consider, which may influence how much you accept.
As mentioned earlier buyers will rarely want to pay the asking price in the current market, although this can happen if there is lots of demand and a lack of supply in your area.
Some buyers may be more attractive than others as well. A cash buyer or one that is chain-free will mean they won’t have to rely on selling their own home or getting a mortgage can help ensure a speedy sale and may justify taking a lower price.
Mortgage Rates
What a year it has been for homeowners, the base rate rose in January from 0.25% within the space of twelve months to 3.5%. There don’t seem to be many reasons to be joyful about mortgage rates this year. According to Nationwide, cheaper mortgages will help avoid forced sales from mortgage defaults and, as a result, aid the housing market.
Whether you’re a first time buyer or looking to remortgage this year, we would highly recommend you use a mortgage broker to navigate the mortgage market.
Instruct your property lawyer
You will need a conveyancer to help with legal side of the sale, such as checking Land Registry documents and transferring homeownership.
Conveyancers can get busy as demand increases. Choosing one as soon as you decide to list your home will meant they can get to work immediately for you. I’ve developed good relationships with a few top conveyancers in the area over the years and am always happy to introduce clients to them, which should help speed up the process.
So if you’re looking to move in 2023, maybe things could be a bit brighter than you originally thought. Come and talk to our team at Lets Rent Southampton Properties today to find out more 02380 434448.
