Every buyer has a list of things they want from their dream property. Most of the time, no one manages to tick off every point on that list when they make an offer on a property. But in our experience, there are some factors that will either make or break a sale.
While some of these things can’t be changed, others can.
Here, we give you our list of the most common factors that influence whether a buyer makes an offer – with a few pro-tips from our founder, Suzanne Vincent.
First up, the things you can’t control…
Location
It’s an obvious one, but location really is a key deciding factor in a house move. And if your home is up against a property that’s in the middle of a buyer’s ideal location, while yours is just outside of it, there’s not much you can do about it.
However, while location is ‘make or break’ for some buyers, for others it can be flexible. We do sometimes see buyers compromise their perfect location for the perfect house, so the more you do to make your property as attractive as possible, the easier it is for a buyer to budge on their ideal area.
Community, schools and local amenities
Again, you can’t pick up your house and drop it in a new neighbourhood, so this isn’t a factor you can directly influence. But in SE5, why would you want to? At Urban Village, we’re part of the local community and are ready to advise buyers on the area, what they can expect and what there is to love about every street, school and park nearby.
The house next door
A bit of an awkward one, but if the exterior of the house next door is badly maintained, it can definitely be a deal-breaker for some buyers. The likelihood is that, even if you’re on good terms with your neighbours, that relationship isn’t going to extend to ‘by the way, can you sort your garden out?’. Unfortunately, this one is entirely out of your control, unless you can create a privacy border screen with plants or fencing between the two houses.
Now for the things you can change…
Parking
If your buyer owns a car, then parking will be on their decision-making agenda. The more difficult finding a space is, the more of a deal-breaker this will become.
You might think this should be in the previous list, but if parking hasn’t been a priority to you, there might be options available: make sure you explore them. Are residents permits available? Are there local spaces to rent? Could you convert your front garden into a driveway? You don’t necessarily have to invest money in this, but you can present a list of ideas that will make the decision easier for your prospective buyer.
That said, there will always be buyers who don’t drive (especially in London) so if you really can’t get around a sticky parking situation, then don’t worry too much. At Urban Village, we prefer our bicycles anyway.
Cost of renovations
People are either looking for a ‘fixer-upper’ or they are not.
If they are, they’ll want that to be reflected in the property’s asking price.
If they’re not, then every project – big or small – that is needed to bring the property up to standard will be costed up in the decision-making process.
Even minor repairs can count against you, if another property nearby ticks all of their boxes and doesn’t come with a to-do list. So think about this when preparing your home to sell and take action where you can.
Suzanne’s Tip: If you are unable to finish projects before you put your house up for sale (whether that’s for time or financial reasons) get a few reasonable quotes from local tradesmen, so you can reassure buyers that renovations can be made quickly and affordably.
Maintenance time and costs
How much time and money does it cost to run your house? Is it an ice box in winter and sauna in summer? Does your lighting system burn through bulbs? Does your carefully landscaped garden need a professional gardener to stop it from becoming a jungle?
These can all be make or break factors in the decision-making process, but energy efficiency is probably the biggest one – and the simplest to fix. Invest in insulation, get a quote for new windows, think about switching to LED lighting (not just the bulbs, but fittings and lighting controls too). A cost-effective house is a big attraction.
Suzanne’s Tip: Think about built in gadgets, smart controls and complicated/bespoke lighting systems that need specialist bulbs. These can be a perk for some buyers, but an unnecessary maintenance cost (and hassle) for others. If you’re thinking of installing them with an eye to selling in the future, save them for your new home. Simple is often best when it comes to sales.
But there is one thing we haven’t mentioned in either of the above lists.
Gut instinct
Sometimes, we see buyers throw their checklist out of the window on the back of a ‘good feeling’ (or the opposite) about a home.
Again, this isn’t entirely within your control, but you can influence the way a buyer feels when they walk through the door. Do what you can to make your house feel welcoming, homely and comfortable. If you’re present at the viewing, be friendly, talk up the positives of your experience living in the property and the local area (if you’re not there, we will do this for you).
And if you need any more advice about selling your home, we can help. Give us a call on 0203 519 9121 to talk about your move and arrange a free home-staging consultation.