How do you maximise the value of your home?

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How do you maximise the value of your home?

It’s time for a change. You’ve spent time this summer catching up, taking a breath and thinking about a potential house move.

Good for you. That’s where we come in.

But like every seller in any market, you want to achieve the maximum amount for your home so you can afford the next move up the ladder, perhaps to release some equity to help with university fees or a planned retirement, or to down-size now that the kids have left home.

Again, good for you.

And that’s also where we come in.

An estate agent’s main focus should be his/her client and their best interests which, invariably, are to try to achieve the best possible price for their home.

Agents give advice.

It should be market led and accurate – not ill-conceived or as a result of a lack of research.

Advice should be given relative to the market. Remembering that buyers and sellers ’make’ that market.

The recorded sale prices of homes comparable or similar to yours establish that market.

But what adds value?

What factors make for a successful sale, even in a tough market?

I asked my residential sales team what they thought really adds value to a home.

The responses were interesting.

Jen said: ’A main factor I believe adds value to a home is being in a catchment area for an outstanding or good school.

’Whilst we have a fantastic education system on the island, we have seen examples of homes in good school catchment areas selling (and renting) a lot quicker and getting a lot more interest.’

Stephen said: ’Without doubt location, has always been and continues to be the number one factor affecting the price of a property.

’Today, being close to the town centre(s), local shops, restaurant and amenities and good schools are three factors which people are interested in knowing, which again is down to picking a good location.’

Susan said: ’Location has a huge effect on the price and sale-ability of a home, and in our experience houses and flats in popular residential estates in/around Douglas, Glen Vine and Peel always sell and rent quickly.’.

’For me, something that’s ready to move into,’ said David, ’especially if it’s a family house.

’Most people don’t want hassle sorting out tradesmen to do big jobs especially if they have kids.

’They will pay a premium for something that’s ready for them to move straight into, save for maybe cosmetic work.’

’A property that is well maintained and fitted to suit its market, a family house for instance needs a good garden for a growing family to enjoy and enough reception space to enable teenagers and parents to coexist…and bathrooms I don’t think you can have too many, couple this with storage space and good decor you won’t be far wrong,’ said Andrew.

As you can see there are many things which can impact the price (and value) of a property, but it seems the consensus is that a good location, the condition and how you present your home for sale will really help to increase its price, helping you achieve your aim of selling in what is a tough and challenging market.

Tim Groves
Black Grace Cowley
(01624) 645555

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