If you’ve been asking yourself how to buy a new home while selling yours, then check out our handy guide to help with the process of selling a house. As well as telling you how to sell your home, we’ll also tell you everything you need to know about our Help to Sell initiative. This great service is tailor-made to help you sell your existing property easily, removing some of the stress that can be associated with moving. It means that you could be on the path to buying one of our beautiful new homes sooner than you think.
1. Prepare your property for sale
First things first, you’ll want to get maximum value for the house you’re selling. To do this make sure it’s in tip-top condition, especially if you’re selling a property online. Jon Bryan, a valuations manager for home sale specialists Property Perspective has some helpful advice:
“Internet portals like Rightmove, Zoopla, etc., are simply like a dating website for properties and buyers. You only have a few seconds to secure a potential buyer’s interest before they ‘swipe left’ and move on to the next property.”
Jon’s top tips:
- Declutter and tidy up – no one wants to see rooms with too much furniture or overloaded with belongings
- Tidy the garden – cut the lawn, wash the deck/patio and remove untidy garden furniture or toys.
- DIY and painting – a fresh coat of emulsion to remove any marks goes a long way to present the property at its best. Neutral palettes have the widest appeal and completing DIY projects shows that you are taking care of the property.
- Clean up – vacuum everywhere, wash the windows, clean the kitchen and bathroom. Make the effort for every viewing, it will be worth it.
Our 5 Top Tips to Sell Your House Quickly article has even more great advice.
2. Do your research
Get a clear idea of what your home is worth. There are online valuation tools you can use, as well as researching what else is on the market locally and how much for. Make sure you’re comparing like for like in terms of property size, layout, age / condition, special features and location.
Then get at least three local estate agents to give you their valuations to help you arrive at a realistic asking price. Here at Redrow, for Help to Sell, we use independent, outsourced property relocation experts. We work closely with them – and the local estate agents they entrust – to achieve a quick sale on your behalf. We usually appoint two agents as the combined efforts mean we are able to secure the best possible price for a customer’s home.
Another piece of good advice includes having all the paperwork to hand that you might need further down the line. These can include an up-to-date Energy Performance Certificate (EPC) and any other certificates, guarantees and warranties. For example, FENSA certificates for windows and confirmation of planning permissions and/or building regulations.
3. How much does it cost to sell a house?
One of the biggest costs when selling your house is generally the estate agent's fee. This may be a percentage of the selling price or a fixed fee. The average charge for a sole agency contract is between 1% and 2% of your home’s value (plus vat). Of course, there night be some great offers, like Redrow’s Help to Sell weekend where you may have some or all of your agent’s fees covered.
You'll also need to budget for mortgage arrangement fees, conveyancing costs and removals. Typical solicitor fees for selling a home are between £550 and £1,000. And, if you don’t have one already, you will need to pay for an energy performance certificate (EPC). This is now a legal requirement when selling a property.
Potentially costing up to £150 + vat, the EPC certificate contains information about how energy efficient your property is. It include typical energy costs and recommendations on how to save money and reduce energy costs. The UK government has published an action plan to try and move as many homes as possible to band C by 2035. If you’re buying a new Redrow home you’ll be pleased to hear that almost all our homes are already classified as band B as standard. This is thanks to in-built features such as proper insulation, double-glazed windows and efficient boilers and radiators.
There could be other costs to bear in mind. For example, if you bought your property using Help to Buy you may need to repay the equity loan. Put simply, if you took out a 20% Help to Buy equity loan, and have not yet repaid it, then you will need to pay the government 20% of your selling price. Also, if your existing mortgage is a fixed rate product and not portable, you should factor in early redemption fees.
4. Let Redrow help you sell
One of the big advantages of buying a brand-new home is having a range of experts on hand. They can talk you through the process of selling a house. We can even do most of the hard work for you through Help to Sell.
Our development-based sales consultants are a fantastic source of knowledge. They can help guide you through many of the steps you need to take. We also have panels of conveyancing solicitors, independent financial advisers and property relocation specialists. All of whom understand the new homes sector explicitly and are geared up to help you sell and buy a home simultaneously.
Use Help to Sell and we’ll agree a valuation and marketing plan for your existing home. We work with two estate agents to achieve a quick sale and can contribute to your selling fees. It’s all designed to make things easy and convenient for you.
Check out more information on Help to Sell , where you can also start the search for your brand new Redrow.
