Connect with us

Current

Is your house on the market, but not selling? Here are five reasons why

It is not an easy time to be selling your home.

Little more than a year ago, sellers had the upper hand as the housing market was red hot and there were plenty of buyers competing for each available property – and bumping up the price in the process.

But higher mortgage rates, falling house prices and economic uncertainty mean that the power balance has shifted. 

Buyers are taking a ‘wait and see’ approach, and sellers have to work harder to secure an offer at the price they want. Meanwhile, it seems gazundering is on the rise.

How much? Agents say one of the top reasons homes don't sell is because they are overpriced

How much? Agents say one of the top reasons homes don’t sell is because they are overpriced

Others find their property remains on the market for a long time, and are faced with either cutting the price, or holding their nerve and risking their listing hanging around even longer. 

According to experts, though, some sellers might not be putting their best foot forward. They say that there are common reasons some properties aren’t selling which can be relatively easily fixed.

We look at five things sellers might be getting wrong in the current market – and what they can do about it.

1. You don’t have a good estate agent

One of the most important factors when selling your home is to have the right agent in your corner.

The firm you choose should be working hard to get it seen by the right buyers – and if they aren’t, you can always take your business elsewhere.

Colby Short, co-founder of estate agent comparison website GetAgent, says: ‘There’s a whole host of reasons you may be struggling to sell your home but they often stem from one core factor and that’s your estate agent,’ he says.

‘The best approach is to research the best-performing agent in your area based on metrics like the average time to sell, the percentage of asking price achieved consistently and their customer satisfaction rating.’

Short warns against picking the agent who promises the highest price – or the lowest fee – as this can prove to be a false economy.

Agent of chaos: Bad estate agents can set unrealistic expectations, leading to disappointment later on when the asking price is not met

Agent of chaos: Bad estate agents can set unrealistic expectations, leading to disappointment later on when the asking price is not met 

‘These are two big red flags as a good agent will rarely compromise on fee and won’t over-value simply to win your business,’ he says.

He adds that ‘fixed-fee’ agents who promise to sell a home for a set amount, rather than a percentage of the sale price, are sometimes best avoided.

‘The vast majority of these agents don’t actively work to progress your sale beyond you accepting an offer and this is actually the most vital part of the selling process,’ he says. 

‘Particularly in current market conditions where uncertainty has grown, you need a good agent working day in, day out to ensure your sale is progressing right the way through to completion.’

Read our guide to the nine questions you should ask an estate agent before hiring them.

2. Your asking price is too high

According to agents, this is the number one reason people are struggling to sell their homes. 

House prices have soared since the pandemic, with annual growth reaching up to 15 per cent at some points in 2021 and 2022. 

That’s no longer the case, and the latest indexes show subdued growth or even price falls.

 It’s commonplace for sellers to enter the market with an unrealistic price expectation to begin with

Experts say that home sellers need to adjust to this new reality if they want to sell. 

Otherwise, they risk sitting on the market for a long time – which makes the property seem less attractive to buyers as they assume something must be wrong with it.

James Forrester, managing director of agent Barrows and Forrester, says: ‘There simply isn’t the same buyer feeding frenzy as there was a year ago.

‘It’s commonplace for sellers to enter the market with an unrealistic price expectation to begin with, and this can see their property sit on the market with little to no interest for weeks on end.

‘A property can hold incredible sentimental value and so it’s understandable that this can often fog our judgement. 

‘However, today’s market is very different to that of 12 months ago and pricing in line with current market conditions is vital if you want to secure a sale.’

Tim Dansie, director of Jackson-Stops estate agents in Ipswich, adds that even if a buyer agrees to your ambitious price, it can all fall apart later on when they apply for a mortgage – potentially unravelling the whole chain.

‘One of the realities of a more balanced market is the need for buyers and sellers to find a middle ground on pricing,’ he says. 

‘We’re clear with buyers when conducting valuations that over enthusiastic asking prices could lead to disappointment down the line.

‘Long chains are often reliant upon a number of mortgages being accepted and completions going through, which is where any overvalued pricing quickly becomes unravelled by lenders who use the true market values, risking the whole chain collapsing.

‘Accepting price adjustments of around 5-10 per cent from the outset can secure a buyer, expedite the sales process, and avoid last-minute negotiations.’

Tidy up: The clutter associated with pets and kids can put off some would-be buyers

Tidy up: The clutter associated with pets and kids can put off some would-be buyers

3. You didn’t spruce it up beforehand

With buyers in a position to be picky, it is more important than ever to present your home in the best possible light.

That means not only keeping the property clean and clutter-free, but also taking care of small DIY tasks that might be making it look a little rough around the edges.

Seemingly trivial jobs such as touching up chipped paintwork, getting the windows cleaned and weeding the driveway can all pay dividends. 

‘You’d be shocked at how many sellers bring an unfit property to market and then scratch their heads when buyers are less than enthusiastic,’ says Von Grundherr.

‘You really need to showcase your home and any features it may have. 

‘Clutter, mess, kids’ toys, pet hair, these are all things that can produce a negative opinion of your property and in the current market, you simply can’t afford to put buyers off.’

Pro tip: Agents say that homes should be shown off with professional photographs

Pro tip: Agents say that homes should be shown off with professional photographs

4. The photos aren’t good enough

Another problem can be the photos of your home online not being up to scratch. 

Most buyers’ first encounter with your home will be on a jam-packed property listings website, and stand-out images can make the difference between a buyer booking a viewing or not. 

Make sure they look professional and show all areas of the home, inside and out.

‘Presentation is key and this starts with your property photos. 

‘If you’re marketing with a few smartphone snaps instead of professional photographs then you’re already at a disadvantage,’ says Von Grundherr.

If your home has been on the market for some time, it is a good idea to get a fresh set of images that reflect the current season. You can ask your estate agent to do this.

Looking at photos of a home with the sun shining and a leafy tree in the garden when it’s snowing outside is a dead giveaway that it has been hanging around for a while.  

Be nice! Agents say homeowners can be rude when buyers come to view the property

Be nice! Agents say homeowners can be rude when buyers come to view the property

5. Potential buyers are put off by YOU

Finally, anyone struggling to sell their home needs to confront the uncomfortable possibility that it’s not the house that is the problem, but the owner. 

If you are present for viewings, you want to come across as friendly, positive and helpful. 

Moving home can be incredibly stressful, and you should show prospective buyers that you’re not going to be a thorn in their side.

Von Grundherr adds: ‘More often than not, you may be the problem. 

‘The majority of the time a seller will be present during the viewing process, and you’d be surprised how often they can be cold, unwelcoming, short, or even rude.

‘You really need to turn on the charm and if you can’t, let your agent handle the viewing process completely.’

Source link

Current

The 11 things that make your garden look tacky, revealed by a top expert – including the flower colour that just screams cheap

A well-maintained garden may be a relaxing retreat – but it can also boost the kerb appeal and even the value of your home.

But, if done the wrong way, efforts to enhance your outside space can leave it looking cheap.

From choosing the wrong plant pots to – counterintuitively – being too tidy, the Mail’s gardening editor looks at the 11 common errors that can cheapen your garden, rather than helping it thrive. 

When tidy is too tidy

Many of us were brought up with strict ideas about well-kept gardens, with lawns neatly mown and weeds all pulled up. But that is no longer the prevailing aesthetic.

Letting go a little and being slightly untidy can lead to a more expensive looking haven. And leaving self-sown plants in summer and seed heads over winter will make your garden look more expensively abundant. Phew!

Wildflower beds with self-sown plants are now the prevailing aesthetic

Wildflower beds with self-sown plants are now the prevailing aesthetic 

Yellow’s not mellow

Don’t get me wrong, I have a soft spot for bright yellow flowers such as daffodils and sunflowers. But such garish flowers must be used in the right context.

Expansive garden beds the colour of a hi-vis vest? It’s a no. Yellow is difficult to match with other colours and should be used sparingly.

The perils of artificial grass

The quickest way to make your garden look cheap is to lay artificial turf. Used widely in sporting venues, fake grass became popular because it doesn’t need to be mowed or watered so is seen as low-maintenance and hard-wearing. But it almost always looks naff.

Plus, the disadvantages far outweigh the benefits. It is ruinous for wildlife and adds to global warming by absorbing more radiation than living grass, which acts as a carbon sink. Natural lawns allow rainwater to be soaked up, whereas artificial grass can cause run-off after heavy rainfall leading to flooding.

In hot weather, it can reach dangerous temperatures, especially for pets who might burn their paws. Plus, it only has a lifespan of ten to 20 years, after which time it is difficult to recycle.

 Soulless bare fences

Fences without greenery can make your garden look boxy and cheap. There are plenty of easy climbers you can plant to soften the feel and make your garden look more high-end.

Star Jasmine is a lovely evergreen with pretty white flowers, while climbing hydrangea is good for a shady corner.

If you want privacy, remember evergreen hedges can’t be more than 2m high, according to the High Hedges Act. Instead try planting deciduous silver birch trees with attractive white trunks and green foliage in summer when you are out in the garden.

Don’t settle for plastic furniture

Moulded plastic chairs are unsightly and should be avoided at all costs. Plus, they’re uncomfortable and topple if you lean too far back, or slice into any bare flesh unfortunate enough to touch the seat.

If your budget won’t stretch to buying new wood, rattan or metal alternatives, search local online groups to see if anyone has second hand deck chairs or outdoor dining sets on offer.

If you are willing to buy something preloved and weathered, it can often cost less but look more expensive.

Thin borders, a thing of the past

Narrow flower beds around the edge of a rectangular lawn used to be thought of as the ideal garden design, but these days it just looks scrimping.

Borders should be at least a metre deep to allow for multi-layered planting. Don’t just put them around the perimeter of your garden. Flower beds used to divide up a space add a touch of mystery and look much classier.

Gadgets and gazebos

Barbecues, fire pits, corner sofas, gazebos, over-sized paddling pools – its easy for your outdoor space to become cluttered with so many garden gadgets you can’t move around without tripping over them.

Decide what you really need and use often, then recycle the rest. Or store them away neatly in the shed until you want to use them.

Plastic plant pot horror

It is tricky to keep plants looking good in plastic containers, even the ones that attempt to imitate terracotta.

As well as the lack of sustainability, the trouble with plastic is that unlike materials such as wood and stone, it provides no protection for plants against drying out in summer and freezing in winter, and it is not breathable.

If you do have plastic pots, reuse them for propagating and save your best non-plastic containers for display purposes.

Paving the way to disaster  

Every gardener needs somewhere to sit, but this shouldn’t come at the expense of losing too much of your lawn.

Ideally there should be a ratio of at least two-thirds planting and grass to one-third hard surface. If you are putting in a new patio, consider leaving gaps between the pavers for low plants such as creeping thyme and Mind-Your-Own-Business which will also help with drainage. 

If you want to park your car in your front garden, choose a permeable surface with planting around the edges.

Fly-away greenhouses

I must confess I own one of these mini shelving units covered in a zip-up, see-through plastic smock. But after it fell over outside one too many times in windy weather, despite being tied to the wall, I have brought it in to our lean-to where I now use it as a propagating unit. A pile of overturned seed trays and spilled soil does nothing to add to kerb appeal.

Do away with dead pot plants 

Well-tended container planting can add a cheerful welcome to a garden or balcony, but there is little as off-putting as being greeted by a collection of unidentifiable shrivelled dead plants in pots.

Avoid this by doing your research and choosing plants you love which will encourage you to water and feed them regularly. Having a water butt nearby makes this task much easier.

Source link

Continue Reading

Culture

Assessing Property Size: What Square Footage Can You Get With The Average UK House Price In Your Area?

Assessing Property Size In The UK

In the United Kingdom, there is a prevailing tendency to gauge the size of residences based on the number of bedrooms rather than square footage. In fact, research indicates that three out of five individuals are unaware of the square footage of their property.

However, a comprehensive analysis conducted by Savills reveals significant variations in property sizes throughout the country. For instance, with the average property price standing at £340,837, this amount would typically afford a studio flat spanning 551 square feet in London, according to the prominent estate agency.

Conversely, in the North East region, the same sum would secure a spacious five-bedroom house measuring 1,955 square feet, nearly four times the size of a comparable property in London.

Best value: Heading to the North East of England is where buyers will get the most from their money

In Scotland, the median house price equates to a sizable investment capable of procuring a generous four-bedroom residence spanning 1,743 square feet. Conversely, in Wales, Yorkshire & The Humber, and the North West, this sum affords a slightly smaller four-bedroom dwelling of approximately 1,500 square feet, while in the East and West Midlands, it accommodates a 1,300 square foot home. In stark contrast, within the South West, £340,837 secures a modest 1,000 square foot property, and in the East, an even more confined 928 square feet.

London presents the most challenging market, where this budget offers the least purchasing power. Following closely, the South East allows for 825 square feet of space or a medium-sized two-bedroom dwelling. Lucian Cook, head of residential research at Savills, emphasizes the profound disparity in purchasing potential across Britain, ranging from compact studio flats in London to spacious four or five-bedroom residences in parts of North East England.

While square footage serves as a critical metric, with a significant portion of Britons unfamiliar with their property’s dimensions, the number of bedrooms remains a traditional indicator of size. Personal preferences, such as a preference for larger kitchens, may influence property selection. For those prioritizing ample space, Easington, County Durham, offers a substantial 2,858 square foot, five-bedroom home, while Rhondda, Wales, and Na h-Eileanan an Iar, Scotland, provide 2,625 and 2,551 square feet, respectively. Conversely, in St Albans, Hertfordshire, £340,837 secures a mere 547 square feet, equivalent to a one-bedroom flat.

The disparity continues in central London, where purchasing power diminishes considerably. In Kensington, the budget accommodates a mere 220 square feet, contrasting with the slightly more spacious 236 square feet in Westminster. Conversely, in Dagenham, the same investment translates to 770 square feet. Three properties currently listed on Rightmove exemplify the diversity within this price range across the UK market.

South of the river: This semi-detached house is located near to three different train stations

South of the river: This semi-detached house is located near to three different train stations

2. Lewisham: One-bed house, £345,000

This one-bedroom property in Lewisham, South London, is on the market for £345,000.

The semi-detached house is set over two floors, and has a private patio.

The property is located near to bus links and amenities, as well as Catford train station.

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

Edinburgh fringe: This three-bed property is located on the edge of the city, near to the town of Musselburgh

3. Edinburgh: Three-bed house, £350,000

This three-bedroom detached house in Edinburgh could be yours for £350,000.

The house, which has a two-car driveway, boasts a large kitchen diner, and is within easy reach of Newcriaghall train station.


Continue Reading

Current

The house that Poundland bought: Moated manor complete with a swimming pool and a museum about the budget chain that was owned by late founder Keith Smith goes on the market for £7.75m

A stunning manor that was bought by the late founder of Poundland has gone on the market for £7.75million.

The nine-bed refurbished Jacobean mansion in Claverley, Shropshire has its own swimming pool and features a museum dedicated to the budget chain. 

Keith Smith launched the discount chain in 1990 with his son Steve and together they grew the enterprise to over 70 stores before selling it for £50million in 2002.

Mr Smith, who grew up in nearby Willenhall, bought Ludstone Hall in 1997 with his Poundland profits upon returning to the UK.  He died in 2022, aged 79, after a short battle with cancer and his wife Maureen passed away a few months later.

Now, his son Steve and his siblings are selling his late father’s beloved home for £7.75million. 

Ludstone Hall dates back to Medieval times but the current property was built in 1607 for the Whitmore family. The estate stayed in the family until 1867 and has only had a handful of owners since.

Steve Smith (pictured) at the moated manor home which his parents bought in 1997

Steve Smith (pictured) at the moated manor home which his parents bought in 1997 

The Poundland museum which is located inside Ludstone Hall

The Poundland museum which is located inside Ludstone Hall 

One of the dining rooms in Ludstone Hall which was owned by co-founder of Poundland Keith Smith

One of the dining rooms in Ludstone Hall which was owned by co-founder of Poundland Keith Smith 

The home is now on the market for £7.75million

The home is now on the market for £7.75million

The swimming pool located inside the manor home in Shropshire

The swimming pool located inside the manor home in Shropshire 

Poundland's co-founders Steve and Keith Smith pictured together

Poundland’s co-founders Steve and Keith Smith pictured together

The manor has period features such as mullioned windows, panelled reception hall, stone fireplaces and the remarkable survival of the original lead rainwater goods.

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars. 

A leisure complex at the rear includes the swimming pool with retractable floor, a handmade oak bar, separate dining area and a hot tub under a raised platform.

There is a two-bedroom gate lodge on the grounds and a number of outbuildings, including a coach house that the Smiths converted to create a museum to the history of both the estate and Poundland.

The formal gardens include box hedging, lawns, squash court, the moat, raised terraces, a lake and an orchard.

Steve Smith (pictured) outside his parents' home in Claverley, Shropshire

Steve Smith (pictured) outside his parents’ home in Claverley, Shropshire 

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars

The main house has over 8,000 sq ft of accommodation including four reception rooms, nine bedrooms, seven bathrooms and extensive cellars

The kitchen area inside the property which has an island and a chandelier

The kitchen area inside the property which has an island and a chandelier 

One of the living rooms in the property which boasts period features

One of the living rooms in the property which boasts period features 

A luxurious main double-bedroom at the home which features a four-poster bed and fireplace

A luxurious main double-bedroom at the home which features a four-poster bed and fireplace

A Poundland store in Staines-upon-Thames, Surrey

A Poundland store in Staines-upon-Thames, Surrey

After leaving school, Keith Smith worked as an apprentice draughtsman before running a market stall and the Hooty’s cash & carry in Willenhall, Walsall. 

When his son Steve turned 18 and wanted to launch a business of his own, his father gave him the idea of starting up a shop where everything was £1.

With a £50,000 loan from Keith, the pair co-founded Poundland, with the first shop opening in Burton upon Trent, in Staffordshire.

Steve, 61, said: ‘When my parents came back to the UK they wanted to find a home where they would never want to move from, and they certainly found that at Ludstone.

‘My mum and dad really loved their time at the estate which can be seen in the amount of money they invested in the property – it really is the home that Poundland built.

The home was bought in 1997 by Keith Smith with his Poundland profits

The home was bought in 1997 by Keith Smith with his Poundland profits 

Mr Smith and his wife Maureen spent £7million on a major refurb of the nine bedroom Jacobean mansion

Mr Smith and his wife Maureen spent £7million on a major refurb of the nine bedroom Jacobean mansion

The swimming pool which is located underneath the floor

The swimming pool which is located underneath the floor

A bridge across the moat which surrounds the stunning property in Claverley

A bridge across the moat which surrounds the stunning property in Claverley 

‘One particular investment they made was installing the swimming pool. They wanted to have a big party for the millennium so had one with a retractable floor installed so that the room could also be used to host events.

‘Living locally myself, I have some really happy memories of their time here. I used to bring dad the broken sweets we couldn’t sell and he’d feed them to the cows that he kept in the grounds. The cows were sold to a supermarket chain who said that it was the sweetest meat they’d tasted.

‘We’d also hold charity events and open up the museum to visitors and raised thousands of pounds for local good causes over the years.

‘The property holds so much historic significance, and has only had a handful of owners since it was built. We’re now keen to see the property go to a new family who can make their own memories here.

‘While the Ludstone Hall Estate section of the museum will remain at the property, we’ll also be donating all of the Poundland memorabilia to Poundland so that they can preserve the history of the company.’

Ludstone Hall is being sold by estate agents Fisher German.

Source link

Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!