Why am I Struggling to Sell My Home?
Buying and selling a home can be stressful. With plenty of lead times, legal work, and processes to go through, this major milestone in people’s lives can feel daunting at times.
Buying and selling a home can be stressful. With plenty of lead times, legal work, and processes to go through, this major milestone in people’s lives can feel daunting at times.
Buying and selling a home can be stressful. With plenty of lead times, legal work, and processes to go through, this major milestone in people’s lives can feel daunting at times. One issue that frequently comes up is the issue of being able to sell your existing home.
There are plenty of different reasons that you may be struggling to sell your property, and at times your misfortune can be out of your control. However, there are steps that you can take to increase the chances of finding a buyer for your home, making the conveyancing process a smoother one for you.
In this article, we shine a light on the possible reasons that you may be struggling to sell your property, and how we can help you resolve your issue.
Sometimes, the reason that your home isn’t generating any interest is that it is simply too expensive. If a potential buyer can purchase a similar property in the area for a cheaper price, then they will most likely choose that offer.
So how are house prices evaluated? To get an accurate valuation of a property, there are several factors that need to be taken into account, such as age, size, and location. More often than not, the properties around you will be priced similarly to yours.
If you find that you’re struggling to find the right pricing for your home, it may be a good idea to contact a different estate agent.
Both locally and nationally, the state of the economy has a direct impact on the price and demand of your home. At a time of economic instability, people are more reluctant to purchase properties. This can be caused by a number of factors such as:
Increased interest rates
Inflation
Policies
Stock market fluctuations
Locally, there may be a surplus of properties compared to the need for homes. When the supply of properties outweighs the demand for them, buyers have more options, likely increasing the time it takes to sell your home.
As expected, the condition of a home will have a direct impact on a buyer’s decision. Old or poorly maintained homes can deter a potential buyer from choosing your property, particularly with damaged homes as this can create an additional cost for them. Most of the time, people are not interested in creating a project for themselves, unless they feel they can make a profit on it.
Buyers can also be disappointed if your home lacks the kerb appeal that gets them excited about living in a new home. The way that your house looks on the exterior is important, a tired looking home is less likely to spark interest, particularly as this is the first impression when visiting a property.
While the appearance of your home is important, the way that you present your property also has an instant impact on the buyer’s decision. A first impression is made the moment a potential customer sees your advertisement.
When marketing a property, high-quality photography can frame your home in a much better light, whilst also making your advertisement more professional. On top of this, a concise description of your home will go a long way in generating interest in your home.
It is also important to ensure that your marketing is visible. Putting your advertisements online, or in print in as many appropriate places as possible makes sure that your house is able to be seen.
As previously mentioned, the demand for houses can vary in different areas; this can be in the local market, or even your own neighbourhood. For instance, the development of a new estate being built nearby reduces your chances of being able to sell your home immediately, with more demand being directed towards the newer properties.
Not only is the area that you live in important, but your neighbourhood appeal is also taken into consideration. Certain buyers will be more likely to purchase a house based on the local facilities that they require, or how safe the area is. As an example, a home with no schools or shops nearby may struggle to find a buyer as opposed to those with these amenities close by.
If you’re preparing to sell a property without professional experience, it can be a very difficult process. It is always recommended that you work with a solicitor or estate agent to ensure that the transaction is a smooth one for all parties involved.
However, at times you may find that your estate agent, or solicitor is unreliable, and that they are actually slowing down the process. It is important to do your research before hiring either of these services to give yourself the best chance of buying or selling your property.
At Freers Askew Bunting, our dedication to client satisfaction is underpinned by the hundreds of five star reviews we’ve received for our Residential Conveyancing team. If you’re looking for reliable, tailored support, click here.
At times, the reason that your home may not be generating any interest is that it is simply too niche for the average buyer. For instance, if your home is very small, with a huge garden, this makes your home an anomaly, potentially steering away a buyer. On the other side of the coin, this feature may generate interest from the niche market that your home appeals to, if marketed correctly.
There is also such a thing as over personalisation. Leading back to the point that buyers often don’t want a project, a home with too much personal customisation can drive away buyers. This is because it may be an expensive, time consuming task to get their new home looking the way they want it to.
Sometimes, it’s out of your control as to why your home is struggling to find a buyer. Seasonally, homes tend to sell faster in the spring and summer, and this may not fit within your timelines when it comes to conveyancing.
On top of this, any legal issues, or liens, can easily scare away potential buyers as this may be more work for them in the future upon buying the home. Noisy neighbours can also cause complications when it comes to selling a home, as it is a legal requirement for sellers to have this disclosed, as well as any other disputes you’ve had with them.
Selling a home can definitely be frustrating at times, but it is important to remain patient through the process. The average time taken to sell a home is roughly two months, and this can certainly feel like an eternity. If you are in a situation where you’ve reached this milestone and you’re not making any progress, it is worth considering switching agent or solicitor, or re-evaluating your price.
With over 70 years of experience, Freers Askew Bunting is a reputable name that you can trust. Our approachable, award-winning Residential Conveyancing team are at hand to assist you with the process, putting you at ease through this major milestone. Contact Clare or a member of the conveyancing team to get started.
Email: Enquiries@freersaskewbunting.com Call: 01429 743300
