Home mover in a hurry? Here's how to sell and buy at the right prices

If you have to move home, now isn't exactly the best time but, unfortunately, some of us have no choice in the matter because of our job, change in marital status or to be near a child's new school. Almost daily reports of house price falls aren't encouraging news, neither is the drought of cheap mortgages , interest rates on mortgages rising and banks having to raise money from shareholders.

Despite the difficult environment, having a carefully planned strategy for moving will go a long way and help you get the best price for your existing home. You'll also need to work out a budget for the cost of moving and apply for a new mortgage if you need to borrow more.

Moneyextra's mortgage calculators can help you work out what you can afford

The National Association of Estate Agents says that the more you put in to selling, the more you will get out so do your homework. Think about the sort of person who is likely to buy your home - will it be a young family, a single person or a retired couple? And, by the way, you'll need a pot of paint; a bucket and a scrubbing brush; and an honest friend with a eye for design.

The importance of first impressions

First impressions are everything. What impression does your home give to potential buyers? Does it have the 'wow' factor or the 'let's get out of here quick' factor?

You don't have to commission a team in from the latest TV home makeover show but do think 'show house' perfection - in fact visit a few to pick up the look. Check out similar properties in your area and think about how yours compares with the worst and the best looking.

Look at your home as a commodity to sell and not as your treasured possession. Take a good hard look at the entrance - it is pleasant and appealing or does it look tired and is the paint pealing?

Ask a friend

You'll probably need to have a good tidy up; a scrub up and a clear out. Chuck out broken ornaments, chipped cups on display and tatty rugs. Clear everything away from kitchen counters and polish up taps and door handles. Put extra clutter in the attic or garage, or, if there's not enough space, put it in storage.

Make rooms look larger with strategically placed mirrors. Give your house a cleaner fresh look by covering the walls in a white or cream paint and invest in neutral coloured soft furnishings. Finally, get a second opinion and ask a friend to look over the place and give their view.

Sure about your mortgage choices? If you're not and you need someone to talk to, why not call us for independent, unbiased mortgage advice.

Get the price right

Check out your local newspapers and estate agents to get an ideal of the sort of price properties similar to yours are going for. You need to set the price at a level that will work. You don't want to go too high to scare buyers away and not too low to do yourself out of cash for your next home.

How are you going to sell the property? You can do it yourself by advertising online or in a local newspaper or you can appoint an estate agent. With a slow market, the good thing is you will be able to negotiate with agents over the commission rate.

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Karen Beavis
07 May 2008 © Moneyextra.com

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