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5 money-saving tips when selling your home

Our home is undoubtedly the most valuable asset for the vast majority of us and selling it will cost substantially. Using the money-saving tips in this article should reduce the cost of moving home.

Estate Agent fees vary, so shop around and don’t forget to haggle and pay the one off against the other. You should aim for the lease commission real estate agent and set the limit of the tie-in period to no more than 6 weeks, this gives them enough time to sell the house, but if they can’t you can move to another agent without going “multi-agent” which will increase the fee to about 3%+, a big no-no! Ensure you get a fair valuation, never tell an estate agent what other agencies have valued your house at. They will use this to manipulate their offer, often resulting in wide distortions.

It is false economy to go for the cheapest solicitors, so get recommendations from all the estate agents you speak to and remember to ask for the name of specific people, rather than just the legal firms. Give them a call and ask what their charges are, also note whether they are friendly, helpful, and most importantly efficient. Fees are negotiable so haggle! Play off each one against the other to get yourself the best service at the best price.

Selling your house privately can save thousands. One in twenty vendors is now taking the DIY route which could save you thousands. That is a massive money-saving tip, but there are a couple of downsides, basically “time and effort”. You could consider newspaper advertising, flyers and signs. Newspapers usually charge per line or per word so try to keep your advert as brief as possible without making it uninteresting. The simplest way would sell your house yourself is to use one of the many online house-selling services.

Obviously, it is best to sell your house when the market is strong and demand is high, so keep an eye on the local property market. Generally, the market tends to be stronger in early and late summer than the rest of the year, so aim to sell your house then. Also avoid competing with your neighbours so if there are already a few “For Sale” signs on your street, it might be better to wait a bit.

Research has shown that a poor presented house can take longer to sell and may reduce the price by thousands. So get your paint brushes out, give your home a lick of paint and finish all of those DIY jobs which are outstanding. Also, talk to the estate agent about adding value to your property it may be worth spending a bit of cash to make some more. However, be careful not to overspend, you might not get your money back, so talk all planned improvements through with your estate agent.

If you are determined to save money when selling your home, you must ensure that you do your research and due diligence before making any transactions.

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