June 15, 2017
Property gossip August 2016

We understand the disappointment of vendors whose experience of the sales process has fallen short of their expectations.

This disappointment can sometimes be the result of setting your expectations too high or perhaps being influenced by having such high expectations in the first place, as a result of poor advice and decision making.

It can be difficult trying to adapt mentally, especially if choices and decisions are based on achieving a certain figure. A prime example where this can be particularly stressful is when selling for the final time, with dependence and reliance on the money generated from the sale. Unfortunately, once a property has been on the market for some months, the chances of finding a buyer willing to pay your desired price are reduced.

When a property has lost its marketing appeal, a break can be a good option, providing time is on your side of course. Your agent can still alert newly registering buyers about your property; however taking a break from the internet and mainstream marketing outside of the Spring and early Autumn markets, you to re-enter the market when the next “busier period” arrives.

If a buyer becomes aware that a property has been on the market for a considerable amount of time, and perhaps even with different agents during that time, it may give a negative impression and will inevitably raise questions as to why the property has not sold.

If, as a seller, your house fails to sell for whatever reason, it is probably priced too ambitiously for the current conditions. It may well be that the marketing of your property is not optimised.

From a buyer’s perspective, we suggest focusing on securing the right home for your needs and within your budget, more than on finding the greatest bargain. Negotiating a percentage off the asking price is irrelevant if the asking price is too high in the first place, but a well-priced property is always in demand. Unless you act decisively, you could miss out. So the rule of thumb is this; if you see a property you can afford, which offers the accommodation you need, in an area you like, and you can see yourself being happy there, then snap it up, as the chances are other buyers in your price range will also want that property. Good value is good value – in any market

Clearly, most purchasers’ idea of a dream home is one in perfect condition, with a beautiful garden, spacious throughout, with off street parking and which is located on one of the best streets in town – preferably a quiet, tree-lined side turning – and of course, it must be cheap!

Sadly this idyllic combination does not exist, because if the first five criteria are satisfied, then the price is likely to be anything but cheap, so budgetary constraints typically force buyers to accept a degree of compromise. For many, this will mean DIY and the need to save up for future home improvements, making do with a smaller garden, a box sized bedroom or parking the car on the street.

Last on many people’s list is buying on a busy road; however let’s just use that as an example, and open up our minds a little, because there are many busy roads in the country and houses on those roads are selling every week.

Consider the possible advantages. Firstly, properties on a busy road are usually considerably cheaper than like for like properties on a quiet street, meaning you can buy far more for your money. It could well mean not having to compromise on those very things that contribute to an attractive property lifestyle. You might gain attributes such as a playroom for the children, parking for the car, or a garden large enough to exercise the dog.

Most people who live on the main road tell us that they no longer notice it, and there is no reason to think that such a property might be a poor investment either. This is because just as you bought at a lower price compared like for like with a property on a quiet street, when you come to sell you will likely price accordingly, although by the time you come to sell you may well be in a traffic-calming zone.

Whether selling or buying, it pays to carefully consider your goals, to take on board good advice and to have an open mind.