Downsizing your home is one of the best ways to decrease your monthly costs, making it an excellent option if you’re looking to streamline your outgoings. However, the process of moving can itself be extremely expensive, as once you’ve hired an agency and spent time waiting for the property chain to move forward you might find you’ve spent more money that you budgeted for. So what are the alternatives?
To give you an idea of what’s out there we’ve found some alternative ways to sell. It’s worth having a chat with a property expert, to understand how the market is faring and which is the most effective way of saving money to the moment, but in the long run you could save yourself hundreds of pounds – and all the hassle of a normal sale!
Auctioning your home is an excellent way to make a sale without getting stuck in a property chain, although it’s not without its fair share of risk. Appoint a private auctioneer to take you through the process, and make sure you’re happy with the estimate before having your home printed in an auctioning catalogue. From here, viewing arrangements may be taken and potential buyers will start bidding on your property. Do be aware that this can result in a non-sale, or a low final price, but there is also the chance that you home will sell for more than you were expecting. This is a great way to sell a home that is run down, as many people who buy at auction do so in search of a renovation project!
If your research skills are up to scratch, selling your home privately is certainly an option, although what you save in money you’ll be spending in time and hard work! You’ll need to spend a lot of time reading up on the state of the market in order to make up for the lack on an agent or expert on your side – as well as your home’ value, it’s also helpful to know the best places to market your home and to find out how much similar homes in your neighbourhood are selling for, to know what to expect. It’s worth remembering that you’ll still need to hire a solicitor, to deal with the transfer of ownership, so if you can try to find one with expertise on property selling.
If you’re looking to sell your home fast – perhaps you’re moving abroad, or just looking to release some equity – you can always consider one of the many dedicated property-buying companies in the UK. While you will receive less than market price for your home, you’re guaranteed a sale, and quickly – there’s no property chain to worry about, so if you’re looking to cut ties in a rush this is the perfect opportunity to do so.