There are many reasons to sell your home. You might be downsizing, relocating, or just hoping to move from your first home to your forever home. If you’ve decided it’s time to sell, it can be a long journey from putting your home on the market to finally selling it. In fact, sometimes it starts to feel as if it’s taking much too long to sell your home. When it has been up for sale for months, or perhaps even a year or more, it can start to get incredibly frustrating. You want to be able to move on, but you can’t until you find a buyer for your property.
If your property isn’t selling as quickly as you want it to, there are options to help you get out of limbo. Whether you push ahead with the sale or do something different, you can find a solution. Your Home’s Not Selling: How to Make the Best of It…
Value Your Home Properly
When your home isn’t selling as quickly as you want it to, the price tag you have put on it could be one of the major problems. It’s not always easy to value a property, especially as market conditions change, and there are other influential factors too. Trying to reconcile what t market says it’s worth with what you want it to be worth can be tough too. It’s understandable to want to make more from your property if you feel like you have put a lot of work into it. However, if you price your home too high, you could be waiting longer than necessary to find a buyer.
Boost Your Chances of Selling
There are many things that can affect how quickly a property sells. If you’re determined to sell your property soon, you may need to make some changes to increase your chances of selling. Once you’re certain that you’ve set the right price, there are still plenty of moves you can make. If you’re working with an estate agent, you might want to consider whether it’s the right one. Perhaps looking for a new estate agent could be the way to go. Another thing to consider could be how your home is presented. Do you have good photos online, and does your property look attractive when people come for viewings? You might want to consider some property stage to make sure your home looks its best.
There are also some other sales channels you could consider if you want to sell your property more quickly. For example, selling it by auction could be a smart thing to do if you think you can still get a good price for it. Or if you’re willing to compromise on the price, a quick sale service could get your home sold in a much shorter period.
Reconsider Your Move
You might have decided to move home, but it can be worth reconsidering whether it’s the right thing to do. Or, if you know you definitely want to move, you can also consider changing the timeline of your move. Instead of trying to move as soon as possible, it could be a good plan to put the sale of your home on the back burner for a while and come back to it when the market changes. Reassess whether now is the right time to move, or even if it’s necessary for you to move.
Consider Renting It Out Long-term
Sometimes, you just need to move. Whether you’ve already bought a new home or you’re relocating to somewhere far away, you can’t stay in the same house. When this happens, it’s reasonable to want to sell as soon as possible, but it can take longer than you hope it will. If you don’t want to leave the property empty, you could consider renting it out long-term. Getting some tenants in will mean you can deal with any costs associated with the property, and perhaps even make a profit. If the property still has a mortgage, you will need to check with your lender first. You will often need to switch to a buy-to-let mortgage in order to rent it out.
Think About Short-term Letting
Another option that’s available is short-term letting. This can allow you to choose more easily when your property will be rented out. It could also make you more money if your property is in the right location. You can rent out your property to holidaymakers, tourists and business travellers who want somewhere homely to stay. Using an Airbnb management company, you can even make it super easy to rent your property. You can have someone else take care of everything for you so that you don’t have to do all of the hard work. This is especially useful if you now live far away.
Remodel Your Home
If you want to move home because it’s not suitable for you anymore, you could consider whether remodelling might work for you. By remodelling, you could turn your property from one that no longer fits you to one that’s just right for your needs. There are all kinds of changes you could make to your home, from extending it to changing the layout. It’s even possible to completely reconfigure the space and rooms you have so that you can make the most of the space available. In addition to this, by changing your home to suit your needs means that you could boost the value of your home further down the line. Installing new ideas, whether it’s a new window treatment or knocking through a wall to make two smaller rooms one big one, means you could find yourself selling it in a few years anyway.
Pass Your Home to a Relative
Do you have a family member, or maybe a friend, looking for somewhere new to live? Whether you own your property outright or still have a mortgage to pay off, there could be some options that allow you to pass your property on to them. They could live in it and pay you rent, or you could even give it to them. Rent-to-own is another option if you want to help a family member get on the property ladder. Or you could arrange to sell the property to them in the usual way, but with a smoother process if you already know they’re committed to buying and have the funds.
If your home isn’t selling, there are various options that you might find useful to turn things around. Whether you try to sell it now or do something different, you can make a change.