Five things a first-time seller in Burton-upon-Trent needs to consider
Remember the excitement of buying your first home in Burton-upon-Trent? The nerves may have kicked in along the way but, at the end of it, you got the keys and started the process of making that dream house your home. As the years have rolled by and circumstances changed, you’ve now made the decision that it’s time to part ways and find that new perfect home for the years to come. There are quite a few differences between buying and selling, and some that you may not have even contemplated. So before you put your foot on the next run of the ladder, here are five things a first-time seller needs to consider.
1. It’s no longer your home
What?
As soon as your home is on the market it becomes a property for sale and, as such, you have to find a way to emotionally detach and stop seeing it solely as your home. How you live in your house needs to change, as you will hopefully have taken time to ensure that it is presented to show off its best features. You also need to keep your property clean and tidy, just in case you have an unexpected viewing. When you’re starting to get fed up, you need to remember that you’ll soon have a new home to play in, but your biggest hurdle right now is finding a buyer, and you need to be prepared.
2. A whole new language
There may be certain words and phrases that you had to understand when buying a property, but selling requires a completely new dictionary. Estate agents can sometimes use jargon that you don’t necessarily understand, and it’s important that you get an explanation so you’re fully aware of what’s happening or needed for your sale to progress. At Sure Sales & Lettings we understand that often the words we use can be confusing, our sales team will always fully explain each stage of the process, in your language not ours.
3. Think before you speak
When you get that first offer it’s easy to react too quickly, and if it’s lower than expected you may wish to reject instantly. Take a moment to get the whole picture, what is the position of the buyers? Is there room to negotiate? It is advantageous to remain calm but realistic – the current market may be dictating the value of offers, and your choice of estate agent will also play a part, especially when it comes to negotiating that offer higher and higher. Just remember that whatever offer you accept will have a direct impact on the amount you can spend on your next home, so do the sums.
4. Have you considered all the costs?
When buying a home your biggest financial concern was the deposit, and depending on the value of property you may have been exempt from paying stamp duty. Because of this, some first-time sellers forget to budget for this additional cost when they move again, which, depending on the value of your home, can be considerable. For a house costing over £125,001 you will be required to pay 2%; this increases to 5% when the value of the property exceeds £250,001. When you decide to sell your home, our team can give you an insight into the additional costs you will incur.
It’s not just the costs related to the property itself but also the cost of moving that you need to consider – how you decide to move is important, especially if you’re on a budget. Start to get an idea of costs early on so you’re prepared for when you get close to completion, you may even decide to put some items in storage until you are settled.
5. Bear with!!
You will suddenly become very popular and your phone can get frantic at certain times in the sales process, with estate agents, your solicitors, mortgage advisor and others wishing to get answers or documentation returned. To keep things flowing you need to be able to respond as quickly as possible, but when working it can be tricky. Check your phone when you can, and don’t forget to return calls – you don’t want to miss a vital viewing that could be your buyer!
You’re not alone
Buying and selling at the same time is stressful, but at Sure Sales & Lettings we work hard to ensure that we take as much of the pressure away from you, so you can enjoy the process. If you’re thinking of selling, or looking for a new home, come and chat to our experienced local team on 01283 537120.