You made the momentous decision to move house and put your house on the market, then Coronavirus struck. What should you do when selling in a lockdown?
Don’t make a snap decision
Coronavirus, lockdown and everything that has happened in the last few weeks, has all happened very quickly and the government guidance makes it very clear that physical viewings of properties that are for sale should not take place. So whilst it would be very natural for you to feel like giving up the idea of moving altogether, there really is no reason for you to do that. You probably didn’t make the decision to move lightly in the first place, so don’t back down without really considering if that’s what you want in the longer term. However overwhelming this situation feels today, there is every reason to believe that things will be back to normal in time. Therefore, since you’ve already done a lot of the hard work by choosing an agent, agreeing on value and getting your property on the market, you might as well use this time to the below.
Get ready for when the market picks up again
There are plenty of people at home now thinking about moving, looking at properties on the portals and requesting more information about them. In fact, many of them may not have been thinking about moving prior to the current situation! On loveyourpostcode.com® alone, there were more than 50,000 new visitors looking at property in the last week of March – with 65% of them being new visitors to the site. Here are our three top activities that will see you ready for the market when it picks up again:
1) Add some extra value to your property if you can, whilst you are in lockdown. Hardware stores are considered to be essential by the government which are still open and if not open, still delivering. A lick of paint, sprucing up the garden, fixing a broken shelf or garden fence, replacing a cracked tile and mending the doorbell are all valuable details which can make viewers warm to your property when the time comes. More ambitious projects like adding a patio, or replacing the bathroom can actually sometimes add to the value of your property.
2) Spend some time looking for the property that YOU want to buy. You may have set specific criteria but now there is time to re-consider. Look at properties that are slightly below or above your budget; consider locations that are slightly further away and discuss the implications of what that might mean. It’s easy to save searches on loveyourpostcode.com by setting up a file and in that way, you can group together properties you might like to visit, once lockdown is over. Alternatively, you may wish to speak to one of our specialists on the phone by calling into our sales teams.
3) Make sure your finances are in shape. Coronavirus has had some far-reaching and unprecedented implications on families’ finances. Review all your income and expenditure; are there savings that you can make during lockdown like suspending sports channel subscriptions or gym membership? Is money being saved on petrol that can offset increased grocery bills? There is a handy budget planner on loveyourpostcode.com where you can input all these details to find out what you could afford to put towards a mortgage. Contrary to what has been published in some press reports, banks are still offering mortgages and one of the most effective ways of researching what is available across the wider market, is to speak to a financial adviser.
loveyourpostcode.com® has independent financial advisors who would be pleased to have a telephone/Facetime/Zoom video consultations and the first one is free. If you are interested in exploring that further, request a callback and we will be in touch alternatively you can call 0800 862 0870 or by emailing [email protected]
Selling with Love Your Postcode®
As well as getting the right price for your home we stay motivated to sell your house throughout the whole process – that’s why you don’t pay us a penny in sales fees until your house is sold. Hear from our customers who have recently sold with us by clicking here
Love Your Postcode™ has become one of the top estate & lettings agents because of how our group pays attention to each client. With us, you’re guaranteed a trusted partner that know property prices in your area better than anyone and employs an experienced account manager that anticipates your every need. Unsure of what to do and want to talk through your situation? Book an appointment with one of our local area experts. or call us on 0800 862 0870.