If you’re looking to sell your home, there are a few simple steps you can take to make sure you get the most out of the deal. Check out our top tips for saving money when selling your house and avoid common pitfalls which can cost you precious pounds.
1. Cheap quick wins to help you achieve your asking price
There are some relatively quick and easy steps you can take to present your home in the best light, and with a relatively small initial investment, convey greater value to buyers:
Repaint your interior
Repaint your interior to cover up those mucky fingerprints and mask old odours, it can also give buyers a blank canvas, onto which they can project their own design ideas and inspirations. What’s more, it’s relatively cheap – particularly if you do it yourself – but you can always call in the professionals if you’re not a practiced painter.
Take care of those exterior features
Enhance your home’s kerb appeal by taking care of those exterior features. This can mean mowing the lawn, giving your windows a good clean and making sure your front door is looking presentable. If your property features any fences, gates or garden walls, it could serve you well to repair or replace any that are not in good condition. Remember – first impressions count!
Repair or remove broken fixtures
Repair or remove any broken fixtures or items that will be on display when people view your home. When you live with things like shades that get stuck or lights that don’t work properly, it’s easy to forget about them – but if buyers pick up on too many of these things, it could affect their perception of how much your home is worth.
Give your viewers a warm welcome
Finally, on viewing days, try to make it seem welcoming, yet impersonal. In practice, this means turning on the heating or the air-conditioning to make for a comfortable temperature, clearing up any clutter and removing personal items like family pictures to encourage the viewer to think of themselves in the space. You might also consider hanging up mirrors in strategic positions to create the illusion of more light flowing into the property.
2. Protect your home’s market value by addressing common house survey snags
House surveys are commissioned by prospective buyers looking to identify any potential areas or aspects of your home that may need repair or replacement. Whilst it might require some initial investment, if you can address these potential snags before your home is surveyed you may be able to sell your home at a higher asking price and avoid being haggled down by bargain hunters:
Check your windows
Ensure they still open as they were designed to and are sufficiently secure / airtight. If you need to replace any of them, we can help you find local professionals to complete the job.
Sort out damp
Use our free Find a Builder service to locate damp specialists in your area and have any areas affected treated to preserve value in your home and help secure a higher buying price. Damp issues are particularly prevalent in older buildings and have the potential to compromise large areas of your home, so act fast to preserve value.
Tackle Japanese knotweed
This pervasive, invasive species is highly resilient to conventional forms of gardening or chemical control and can cause significant damage to gardens and even structures. To protect your selling prospects, follow Governmental guidelines on dealing with the plant and seek help from local professionals to limit it’s spread.
Get an Electrical Installation Condition Report
Get an Electrical Installation Condition Report from a qualified electrician in your area to identify and fix any potential problems with your property’s wiring. If all is well, the report can be used to support a higher asking price, and if issues are identified you have an opportunity to fix them before they are cited by prospective buyers.
Clear any drainage issues
Contract a local drainage specialist to conduct a CCTV investigation of your piping and drains and identify any blockages or pooling problems. Left unchecked these issues can result in foul smells, damp, flooding and structural damage – all of which prospective buyers could use to knock significant sums off your asking price.
Roof repairs
Contact local roofing contractors to replace cracked or missing tiles, or to remove any guttering blockages for a quick win that could pay off later. More serious structural problems will require a greater investment to address but are better dealt with now than in the midst of negotiations with potential buyers.
Weed out woodworm
Find a local woodworm specialist and catch any suspected cases early to limit the damage caused and protect the value of your home and furniture. The costs associated with tackling these pests will vary according to nature and scale of the problem, but allowing them to spread is almost guaranteed to prove more costly to deal with later on, and will likely motivate prospective buyers to push for a discount.
Check your insulation
Ensure your insulation is up to scratch, particularly in the roof areas of your home and around piping to reduce the risk of freezing. Older homes tend to suffer more from an energy efficiency standpoint, and that could bring down their value for energy-conscious buyers. You may be able to keep costs down by purchasing and fitting your own insulation in some areas of your home, in more inaccessible positions however it could be worth contracting a local professional.
Check flat roofing
Check flat roofing on garages or extensions; flat roofing typically has a shorter lifespan than conventional pitched roofing, so you should make sure yours has not suffered excessive wear since installation. Should you need to get it replaced by a specialist, ensure you get a warranty to protect it’s value for the foreseeable future.
3. Purchase your Energy Performance Certificate (EPC) direct
EPCs are now a legal requirement when selling your home, and help prospective buyers understand how energy efficient your home is.
Prices on EPCs can vary significantly depending on where you live and how big your property is. Whilst these are factors beyond your control, what you can choose is whether to purchase one directly through your local energy assessor or pay an estate agent to do it for you. If you’re looking to save money, investing the time to sort this out yourself could be worth your while.
For more information on EPCs or for help getting one, check out the Government’s guidance on the subject.
4. Boost your EPC rating by taking advantage of housing and energy grants
As the UK shifts focus to enhanced energy efficiency and meeting our carbon-reduction obligations, it’s likely that more prospective buyers will be concerned by a low EPC rating, which they could use to bargain down your sale price.
MoneySavingExpert have compiled detailed guidance on energy grants and freebies available to homeowners throughout the UK to help them boost energy efficiency, so it makes sense to take advantage of the opportunities available to boost your EPC rating and protect your home sale value.
5. Get multiple valuations and check out the local competition
Before you start bringing in estate agents to value your property, it pays to get an indication of the kinds of values properties in your area are selling for. This is easily done online via sites like Zoopla or Rightmove, provided your search for homes of similar specifications.
Once you have a rough idea of what to expect, try to get multiple evaluations from a variety of estate agents including bigger high street chains, smaller local alternatives and ones that advertise solely online - you might be surprised by the discrepancies between valuations. Having multiple options on the table can help you get a sense for the most realistic prices, or where to start the bargaining if you’re willing to come down on price to accelerate the sales process.
MoneySavingExpert having produced a helpful guide to effect valuing your property to make sure you secure the best possible price for your area and property.
6. Negotiate selling fees with your estate agent
If you choose to use an estate agent to sell your property, it’s worth asking them if they are open to negotiating their sales fee. According to Yeshomebuyers.com, typical high street agents charge in the region of 1.5% - but even a 0.5% reduction could save you a small fortune that – depending on your house price – could reach into thousands of pounds.
At the same time, it’s important not to compromise the quality of service you receive from your agent in the name of a cheaper selling fee. If they do a poor job and can only sell your home at a steep discount, the savings you get on their fee could be wiped out by the losses incurred relative to your target sale price.
7. Consider DIY selling to save on estate agent fees
If you can afford to set aside time to go about the business of selling your home yourself rather than using an estate agent or conveyancer, you can dodge the selling fees altogether.
If you decide to go down this route, you should be prepared to host your own house viewings and accept the inherent risks that come with this. You will also have to take care of advertising, which in the digital space could mean posting on your Mumsnet Local page or marketplaces such as TheHouseShop or HouseWeb, and in the physical world could mean mocking up for own “For Sale” sign or purchasing a customisable template from the likes of Amazon or Ebay.
8. Shop around for the best deals on removal companies
The money-saving process doesn’t stop when you agree the sale of your home – getting a good deal on removal companies can help you arrive in your new house with a few extra pounds in your pocket.
There are a few things to consider when researching prospective removal companies; the volume of belongings you wish to transport, the distance you wish to take them and even which day of the week / weekend you plan to move can affect prices. You should also expect to pay more if asking a removals company to negotiate restricted-access areas.
Weight up a handful of alternatives to find the option that offers the best price along with confidence that they will adequately cater to any special considerations or instructions. Sites like Reallymoving.com can be a great place to locate and compare what’s out there.
9. Avoid overbilling from your old or new energy suppliers
Now more than ever, keeping your energy bills in check is a consideration you can’t afford to ignore.
On the day you move out, consider contacting your utility company with a meter reading and a request for your final bill to be sent to your new address. This could help you avoid late fees or nasty shocks for those on an estimated billing plan.
When you arrive in your new home, check your meter readings and notify your new utility company to ensure you don’t have to pay the previous occupants’ bills.
10. Explore whether remortgaging could save you money when moving
Speak to your mortgage lender about the prospect of porting your existing mortgage to your new property, to get an idea of whether you could save money.
There is certainly no guarantee of this even being an option, but if it is you can often use it to escape any early repayment charges on your current mortgage when you move. If you acquired your existing mortgage at a lower rate than contemporary options, you could also save money on future repayments by sticking with it.
Porting your mortgage could also save you time, as you won’t need to restart the mortgage application process; your current lender will already have much of the information required.
Take the time to thoroughly research this option before starting proceedings however, as you will likely incur new fees relating to valuations, arrangements, legal costs and potentially transfer charges. In the end, these could erode any savings secured by porting your existing mortgage.
11. Get disputes or complaints resolved cost-free
Finally, if something goes wrong during the process of selling your home, it’s important to seek redress in a way that won’t cost you any more money.
The ways to do this will depend on exactly which methods you used to sell your home:
- If you’re unhappy with the service you received from an estate agent, you should consider contacting the Property Redress Scheme or the Property Ombudsman.
- For support in dealing with legal firms or conveyancers, the Legal Ombudsman is your best option.
- If you’ve experienced problems with your mortgage provider, speak to the Financial Ombudsman Service.