Thu 01 Apr 2021
When selling your property, it’s important to familiarise yourself with the current market and how you can best attract prospective buyers.
Fortunately, the market remains active since its reopening in May 2020, buoyed by the extended stamp duty holiday recently announced in the spring Budget.
With a vast majority of people spending more time indoors in light of lockdown, in many cases, property facilities have become just as important as location when looking for an ideal home.
With this in mind, here at Eden Estates, we lean on research from Aviva to list the top property deal-breakers for potential buyers and why this is important information for sellers.
What are the top must-have features for buyers?
A recent study by Aviva has revealed that when looking for a new home, four of the top five ‘must-have’ features relate to the properties themselves, rather than where they are based.
Perhaps unsurprisingly, a garden was the most popular deal-breaker among prospective buyers, with 43% citing this feature as essential. Demand for gardens is likely to rise even further as lockdown measures ease and the weather improves.
A home with parking space was second on the list, classed as a necessity for 29% of would-be buyers. This was followed by the number of bedrooms (23%).
Some 22% viewed a good WiFi connection and broadband speed as crucial – another feature that has skyrocketed in significance for students and remote workers.
Low crime rate appeared fifth on the list, with 20% of homebuyers calling this as a must-have.
Changing property priorities among prospective buyers
In the survey of 6,000 UK residents, one in 10 people expressed they wanted to move because they planned to get a pet, which may explain why 43% of homebuyers believe a garden is essential.
Parking space, number of bedrooms and good broadband – the following three deal-breakers – make sense in the context of pandemic-related restrictions. Interestingly, though, they rank higher on the list of priorities than low crime rate – something that may have ranked higher pre-Covid.
Other priorities among buyers include being close to friends or family (18%), a large kitchen (17%), proximity to local shops (15%), privacy from neighbours (15%) and good transport links (14%).
The study highlights the declining importance of location, owing to the fact that a vast number of people are working remotely. Supporting this, 6% of respondents said a home office would be vital, and some plan to search for a home with separate rooms for multiple people to work in.
Why now is the perfect time to sell your home
As mentioned above, the rush to beat the stamp duty holiday deadline helped to boost buyer demand, but the extended holiday until June 30 has given buyers another incentive to continue their house purchase, meaning heightened demand for sellers.
What’s more, the recently announced mortgage guarantee scheme is expected to help property buyers secure low-deposit mortgages. This will also contribute to increased demand from motivated purchasers, allowing you to sell quickly and for the best possible price.
Of course, you will need to provide a clean, welcoming and attractive home. Meanwhile, the right asking price can help to entice a wide pool of prospective buyers who are eager to move into their next home as soon as possible.
Working closely with an experienced, knowledgeable estate agent – one which understands the area you are selling in intimately – can help to ensure your sale goes off without a hitch, with any issues resolved amicably and efficiently.
As an experienced sales agent working in Maidstone and the surrounding areas, we can help you to get the most from your sale, even in these complicated times. To find out more, please contact us today.
We can also provide you with an instant online valuation in just 60 seconds here.