Top tips for first-time sellers

When it comes to advice for first-time buyers, there is a wealth of information out there to tap into. The same, however, cannot be said for first-time sellers, who are rather neglected and ignored.

There seems to be this assumption that first-time sellers will automatically know exactly how the process works, even allowing for the fact that they’ve never sold a home before.

At Sandra Davidson, we have sought to put this right by coming up with some top tips for people who are selling their home for the first time. 

Choose your agent wisely

Arguably the most important thing to get right, given how closely you will be working with this person in order to get your home sold.

There is no getting away from it, selling a house can sometimes be a slow, complicated and time-consuming process – not always, but sometimes – so it’s vital that you have a cool head to guide you through. This is where an experienced, knowledgeable estate agent really comes into their own, utilising their familiarity with the local market/area to get your home sold for the best possible price, in a timely, professional manner.

A good agent will help to find buyers for your home, make the process as smooth and hassle-free as possible and allow you to overcome any barriers and issues that occur along the way.

Depersonalise

A home that feels too personal or lived-in is unlikely to have significant appeal to prospective buyers – after all, they will want to imagine themselves living there and that is less likely if the home is full of photos, knick knacks, personal items and clutter.

Of course, there is a difficult balance to strike. You don’t want your home to come across as dull and characterless, but you don’t want buyers to feel like they are intruding either. Depersonalise and declutter as much as you can, while trying to ensure that your home is still bright, attractive and welcoming. 

Get the asking price right

Granted, not something that is easy to do. Set it too low and your risk selling yourself short, but set it too high and you run the risk of putting would-be buyers off.

It’s a very difficult balance to strike, but it’s another area where an experienced and knowledgeable estate agent can lend a hand, using their knowledge of the local market and other variables to set a fair and reasonable asking price. 

Target your demographic

As a first-time seller, it’s highly likely that you will be selling your first home to first-time buyers. More often than not, first-time sellers will be moving from a starter home to something a little bit bigger – this might be because of starting a family, the need for more space or another reason entirely.

Either way, your main demographic when it comes to selling is likely to be young professionals in their 20s and 30s, people who will be searching for properties – first and foremost – on their phones, tablets and other devices.

This means, of course, that you will need to ensure that your property has a considerable presence online, on the major portals such as Rightmove and Zoopla – where many first-time buyers head first when it comes to browsing for property.

In order to make sure your property stands out from the crowd, your online ad needs to be bright, punchy and engaging, immediately piquing the interest of buyers when they first lay eyes on it.

Equally, your home needs to look up to scratch – clean, tidy, welcoming and attractive – when would-be buyers start to view your home. If your property isn’t in tip-top condition, your chances of selling are that much lower.

To find out more about how Sandra Davidson can help get your home sold, whether you’re a first-time seller or someone who has done it many times before, please get in contact with us on 0208 551 0211.

We have long been recognised as the leading independent estate agent in Redbridge and will do all we can to get your home sold for the best possible price. If you would like an estimate of your property’s current worth, check out our free and instant online valuation tool.  

New homes in Redbridge – what's the story?

Plans for 18,474 new homes in Redbridge over the next 15 years were outlined at a council meeting last week when councillors met to discuss a draft version of the Local Plan for housing in the borough.

At least 32,000 new homes are needed to meet growing demand by 2020, the draft report found, but projects to make this so aren’t without local opposition. 

For example, there has been widespread protest against the planned development of 800 new homes on the Oakfields Playing Fields in Barkingside.

However, a proposed change by Councillor Nick Hayes – recommending that the land be designated as local public space – was rejected by the majority of councillors.

The reason put forward for this was the councillors’ eagerness not to close doors on any potential options. As Councillor Varinder Singh Bola put it: “We are discussing the housing plans for this borough for the next 15 years” – with all ideas put on the table and none dismissed at this this early stage.

Circumstances could change in the future, which is why the council seem keen to keep all their options open at this point. 

The Local Plan draft will be discussed by cabinet on June 7 and then the full council on July 21. If it is approved, a consultation period will then follow in July and September before the plan is then submitted to the Secretary of State in the autumn. 

As one of the leading independent estate agents in the borough of Redbridge, we at Sandra Davidson are encouraged by these plans to further develop and grow the borough. 

It can only be a good thing for the local property market if more new homes are built, more first-time buyers are attracted to the area and more homes are available to rent. 

While concerns about open space are absolutely justified, if these can be worked around in a satisfactory way then it will to the benefit of all of Redbridge’s inhabitants.

As London’s population continues to grow outwards, areas like Redbridge are in the perfect position to take advantage of this increased demand. 

The noises being made by the council – and the news that more than 18,000 new homes are in the offing – certainly gives us reasons to be cheerful.

If you would like to find out more about the services we offer, please contact us on 0208 551 0211.

What's more, you can find out how much your property could be worth in the current marketplace by getting a free and instant online valuation. 

Property prices per square metre – Greater London dominates

Property prices per square metre have increased by 432% in Greater London in the last 20 years – against a national average increase of 251%, according to new findings from Halifax. 

Over the last two decades there has also been a widening gap between London and the South East and the rest of the UK when it comes to prices. 

Since 2011, this has become even more pronounced, with London's property boom ensuring that prices in the capital have grown by nearly double that of the rest of the country.

It is therefore no surprise that the most expensive area in Britain to buy a home can be found in London.

There are seventeen areas – all located in Greater London – which have an average price per square metre of above £5,000. 

At the other end of the spectrum, Airdrie in Scotland had the lowest average price of £1,019 per square metre. 

Four of the six towns with the lowest prices per square metre were from north of the border, with two in Wales – Llanelli (£1,028) and Neath (£1,065) – and four in northern England. 

More than anything, Halifax's research showed that the North/South property divide is bigger than ever, and only looks to increase further as the prosperity of London and the South East continues to draw jobs, investment and labour. 

While this is bad news for sellers outside of southern England, those who are looking to sell their home in London and the South East have much more reason to be cheerful. 

With a well-targeted and well-marketed property, sellers should have no issue in achieving their asking price or above. 

Demand has shown no signs of slowing down, with the first-time buyer market currently thriving thanks to tax changes on buy-to-let properties.

For more information about how to get your home sold, please get in contact with Sandra Davidson on: 0208 551 0211. 

As the leading independent estate agent in Redbridge, we have the skills, experience, local knowledge and know-how to get your home sold for the best possible price.

If you would like to find out an estimate of your property's current market value, check out our free and instant online valuation tool

What does the conveyancing process involve?

Buyers and sellers will hear a lot about conveyancing or the “conveyancing process”, but many may be unclear on what exactly this means.

Below, using our experience as the leading independent estate agent in the borough of Redbridge, we aim to outline what exactly the process entails.

Conveyancing, to put it simply, is the legal transfer of home ownership from the seller to the buyer.

The process starts when a buyer submits an offer and comes to a halt when the seller officially hands over the keys.

To begin with, your estate agent will negotiate with the buyer to obtain an appropriate, realistic offer.

When this offer has been accepted by you, the seller, everything gets going.

It is then your job to employ the services of a solicitor or conveyancer to conduct the conveyancing process on your behalf.

Choosing the right solicitor/conveyancer

To avoid any needless delays, it's a good idea to pick your solicitor or conveyancer at the same time you pick your estate agent.

A bit of advance planning and research will help to get the ball rolling without any hiccups.

In many cases, an agent will have links with a solicitor’s firm or a conveyancing company that they can recommend to you.

Question time

Once you’ve made your decision and the conveyancing process is ready to begin, you will be required to complete a range of comprehensive questionnaires about your property, including the TA 6, the TA 10 and the TA 13.

This will also show what you plan to include with the sale (for example, fixtures and fittings, furniture, appliances, etc).

Taking this information, your conveyancer will then draw up a draft contract, which will in turn be sent to the buyer for approval.

There will need to be agreement between you and your buyer about things like the date of completion (this is usually 1-4 weeks after the exchange of contracts).

Also, if a buyer’s survey flags up anything untoward – e.g. significant damp or roof problems – then there may need to be negotiations between you and your buyer over who will mend this.

If this isn’t agreed upon, there may even have to be renegotiations on the sale price. 

 

You must also put plans in place to pay off your mortgage. In order to do this you need to request a redemption figure from your mortgage lender. This is how much you will pay upon completion of the sale.

Exchanging contracts

You and your buyer will already have arranged a time and date to exchange. When this comes around, solicitors/conveyancers from both sides will then exchange the contracts on your behalf.

Exchanging contracts is something that should be treated with the utmost seriousness – once you’re in, you’re in.

Once you’ve exchanged, you have entered a legally binding contract to sell your property.

If you withdraw post-exchange, your buyer can sue. On the other hand, exchanging contracts offers sellers protection, too.

If the buyer suddenly pulls out and doesn’t see the sale through to completion, you will still probably be able to keep their deposit.

It’s also important to mention that, once contracts have been exchanged, you will be unable to accept any offers from other interested parties. 

The waiting game

Unfortunately, completion doesn’t happen overnight and there is often a gap between when you exchange on the contract and when the home is no longer yours.

This gap could be one week, a month or – in some cases – even longer.  Delays and complications, for a variety of reasons, can occur.  

Remember, you still own the home until completion. In other words, the home still legally belongs to you and you are under no obligation to move out right after the contracts have been exchanged.

Nevertheless, it’s probably wise to start preparing with plenty of time to spare. As anyone who has moved home will tell you, packing in a hurry is a recipe for disaster.

You should receive the buyer’s deposit immediately after exchange. It’s normally between 5-15% of the agreed sale price, but it can be much higher.

So, assuming you have sold a home for £300,000, you would receive a deposit of £30,000 once contracts have been exchanged. 

Handing over the keys

The conveyancing process ends, as we said before, when you hand over the keys to your buyers (in reality, you’re more likely to be handing them to your estate agent who will then hand them to the buyer on your behalf).

Upon completion you will get the outstanding balance of your sale price and your conveyancer will hand over legal documents to the buyer, in doing so confirming ownership.

Any outstanding mortgage on the property will then be paid off from the profits of the sale.

After all this, it is then time to pay your estate agent and conveyancer for the work they have done to bring the sale to completion.

As you can see, conveyancing can be quite a confusing and complicated business. That’s why choosing the right estate agent – one who knows the inner workings of the property market inside out – can help to guide you through everything in a calm and unflustered manner.

At Sandra Davidson, we provide exactly that. Our experienced and knowledgeable estate agents will work closely with you, and your conveyancer, to ensure you get the best possible price for your home.

To find out more please contact us on: 0208 551 0211. For a free online instant valuation of your property, click here.   

How to make the most of a spare room when selling your home

When it comes to selling your home, it’s wise to make use of every room. The spare room, however, is too often ignored or locked way – instead of being utilised to the max, it is unloved and neglected.

With a bit of innovation and clever use of space, the spare room can be turned into something special. It can be even turned into a place that could form a major part of your sales pitch.

The spare room is likely to be one of the smallest rooms in the property you’re looking to sell. But, as the famous old saying goes, all the best things come in small packages.

Below, borrowing from our experience as the leading independent estate agent in the borough of Redbridge, we take a look at a few possible uses for your spare room.

Home office

The work at home revolution has gained many new members in recent years, with advanced technology and faster internet speeds making it a viable option for many. As such, a home office will have a great deal of appeal to would-be buyers.

Converting your spare room into a comfortable and relaxing work environment won’t take much time or money. All you need is a good-quality office chair and desk, as well as enough shelf space for books, files and folders to be stored. Pot plants and well-chosen lamps will also help to create a happy workspace.

Home gym

These are all the rage at the minute, as people start to take fitness and health more seriously. A home gym would probably appeal most to young professionals eager to keep in shape, but a wide range of buyers could be enticed by the opportunity to carry out a workout in their own home.

Before you worry about the cost implications of all this, we’re not advocating the creation of a state-of-the art gymnasium with all the up to the minute equipment. Second-hand gym equipment is often in just as good a working order and can be sourced for fairly reasonable prices. Dumbbells, exercise mats and other cheaper gym accessories can also help to successfully convert your spare room into a fully functioning home gym.

Children's playroom

If your target demographic is families with kids, or young professionals who are thinking of having children soon, then this could be a way of turning your spare room into something useful for them.

Children tend to have a lot of toys – and these all need to be put somewhere so the house doesn’t become too cluttered. A spare room is the perfect location for that. It is also somewhere for kids to amuse themselves in a child-friendly environment.

Making sure the décor and furniture in the room is catered towards children – and keeping the room light and airy throughout – will help you to produce a space that could have significant appeal to certain prospective buyers.

Extra bedroom

This is arguably the most obvious choice, but also the one that could bring with it the most rewards.

It could, with a bit of clever planning and use of space, turn a one bedroom home into a two bedroom one, or a two bedroom into a three bedroom. This could make all the difference when it comes to the asking price you set.

Also, some buyers may want to use this extra room to house lodgers, which is often seen as a fantastic way of bringing in a decent second income. This is even more so the case since George Osborne increased the tax-free Rent-a-Room limit from £4,250 to £7,500.

An extra bedroom is also a fairly simple modification to make. Giving the walls a fresh lick of paint and then installing a bed, wardrobe and chest of drawers will help to complete a handy little transformation. 

If you would like more information about making the most of your spare room, or selling your home in the areas we operate in, please get in touch with Sandra Davidson on 0208 551 0211.

To find out how much your property could be worth in the current marketplace, check out our instant online valuation tool.

How to improve the look of your rental property

Tenants want their house to feel like a home. If it does, they are more likely to stay for a long-term, guaranteeing a regular rental income and the avoidance of void periods.

As a landlord, there are a number of things you can do to make your tenants feel comfortable and happy in their surroundings. And they are all things that won’t take much time, effort or money to implement.

Below, we outline a few of these top tips...

Get the right furniture

You won’t necessarily have to buy from scratch; high-quality furniture can be sourced second-hand for reasonable prices. Either way, attractive, modern and stylish furniture will have far more appeal to tenants than tatty, old-fashioned items. Cushions, designer lamps and clever lighting can also give your home a more intimate, homely feel.

Also, it’s important to work out which demographic you are targeting towards and tailor your property accordingly. For example, students and professional tenants are likely to have quite different needs.

Plump for tiles

Easier to maintain and more durable, tiles are cost-effective and a good way of fighting off mould – especially in rooms that are susceptible to it (i.e. bathrooms, kitchens, utility rooms).

You can get tiles in all colours, shapes and sizes these days. It is of course advisable to make sure the tiles you choose fit well with the room they are in and that any existing tiles that are cracked or discoloured are replaced.

Refresh the paintwork

A fresh lick of paint on the walls – blues, creams, whites and pale greens are the most sensible, neutral choices – could make all the difference, allowing your tenants to live in a home that looks brighter and more vibrant. 

This also shows them that you care about the appearance of the place they call home, that shabbiness isn’t acceptable. If tenants feel valued and house proud, it stands to reason that they will stay put for longer. Stable, reliable, long-term tenants are what every landlord is striving for, so you should do all you can to make that a reality.

What’s more, decorating on the cheap could end up costing you more in the long-term, so it’s best to get it done properly first time round.

Decide on flooring

Carpets and wood flooring both have their ups and downs. If you decide to go for carpet, keep it neutral and go for a colour that doesn’t stain easily.

With wood flooring, of course, you will have no issues with stains and it will be easier to clean. Nonetheless, walking on it will create more noise, it will be colder on the feet in the winter months and the chances of things being smashed or broken will be upped.

Make your home look its best

If you are looking to attract tenants to live in your rental property, it will need to look its absolute best to stand above the competition. If you already have tenants in situ, keeping them there will be that much easier if your property is attractive, well-maintained and cosy. 

This can be done in a few simple steps. Give your bathrooms and kitchen the once over to ensure it has that new, gleaming, sparkling look, plump up the cushions in the living room and make sure that garden space – assuming you have some  - is kept in a decent condition throughout the year.

Tenants have a duty to keep the home they live in up to scratch, but as a landlord you have a duty to make sure it doesn’t fall into disrepair or look tatty or uncared for in any way.

If you would like more advice about letting out your home in Redbridge, Chadwell Heath, Ilford or Seven Kings, please get in touch withSandra Davidson on 0208 551 0211.

To find out how much rent you could be charging in the current market, check out our

free and instant lettings valuation tool