Pages Navigation Menu

Everything Personal Finance

7 Money Saving Tips When Selling Your Home

Selling your home is amongst one of the most stressful things you can go through in life, right up there with divorces, deaths and child birth. It can also be one of the most expensive periods in your life; with the rising cost of purchasing your ongoing property, stamp duty and legal fees. Like anything in life some costs are inevitable, however there are some corners you can cut to save a small fortune when selling a property.

Tip 1: Choose your estate agent effectively.

The price an estate agent will charge varies from agent to agent. Some work on a percentage basis whereby their fee could be up to 5 percent of the sale price of your home. Our opinion is that every agent can offer a similar service, regardless of the type of property you are looking to sell or the location. All home buyers end up buying from one of the big portals like Rightmove or Zoopla and aren’t interested in which agent you are listed with.

Tip 2: Modernise to increase asking price.
Sometimes you have to put money in to get money out. This may mean giving your property a good clean or a bit of decoration, which will initially have a cost – however you can make this back by increasing your asking price accordingly. Any modernisation you carry out on your property is going to add value and increase kerb appeal.

Tip 3: Consider a ‘we buy any house’ service.

You may think that by selling below market value to a we buy any house service like Ready Steady Sell is going to mean you end up out of pocket. However, by choosing a we buy any house service that is trusted and vetted means you are guaranteed a cash sale, guaranteed to pay no fees and could be sold within a matter of weeks. This also means you are saving thousands of pounds in regular maintenance and mortgage payments.

Tip 4: Do as much yourself as you possibly can.
Every step of the house sale process can incur costs, however you can do a lot of the work yourself to keep costs to a minimum. This may mean doing your own viewings, or putting up a DIY for sale board. Expenses like removal vans can also be kept down by hiring your own van or borrowing one from a friend.

Tip 5: Wait for the market to be ready.

You should only advertise your property for sale when demand is high, therefore you can increase your asking price accordingly. Try to make it a daily task to keep a close eye on the property news in your area, and the latest sales statistics.

Tip 6: Consider the FSBO route.

There is one way to completely save on agent fees, and that is to sell FSBO (for sale by owner). You simply take care of the whole sales process yourself, with the help of a solicitor to get the sale across the line. There are many FSBO websites online, and you can even list your property on big advertising websites like Ebay and Gumtree.

Tip 7: Negotiate with the buyer.

If you are looking to downsize when you sell or getting rid of a number of items in your property such as white goods – it may be that a buyer (especially a first time buyer) would have an interest in buying them from you. You could integrate this as part of the deal when it comes to selling your property.

Whatever your situation there are great ways you can save thousands of pounds by simply doing a lot of the tedious work yourself when it comes to selling a property.