Selling a UK property investment fast demands more than we’d come to expect. More than skill, it requires talent, some grit and at times even a dash of luck. But any seller or expert broker will guarantee you that one of the best ways to achieve this is through the art and magic of staging.
Staging is defined as the act of preparing a UK property investment for the market. It is used to create appeal, introduce use for the space and pretty much attract buyers and make them want to purchase the asset stat. But it takes a while for any individual to actually get it right especially without help and tips from the professionals. Worry no more because we took it upon ourselves to tap the pros for the following tricks.
Start from the outside. When it comes to real estate, curb appeal matters. Why? First impression begins outside because it’s what people initially see. Moreover, most buyers will opt to drive by first and take a glimpse of the asset before they actually attend an open house.
Repaint dingy walls. The easiest and most cost efficient way to liven up any space is by adding a fresh coat of paint. You’ll be surprised that these cans of color can do so much. Also, opt for colors that open up rooms and create an illusion of a bigger space.
Make it squeaky clean. A dirty UK property investment is a surefire deal breaker. Even if the asset has so much potential, buyers won’t see that with all the clutter. Mess is a very effective distraction and we don’t want that.
Remove anything personal. When staging, it is important to allow potential buyers to imagine themselves within the space. This would be particularly hard to do if remnants of the old or current owners are still lying around. Make sure to depersonalize every nook and cranny.
Use the right furniture. We want to strike a balance between new and cozy. We want buyers to see the potential of the space too. In order to achieve all these, you might want to consider hiring someone with a good eye for home décor and styling.
Keep things gender neutral. When staging a UK property investment, remember that you’re not certain of who may want to purchase the space. To make it appealing to everyone, keep the colors and theme neutral and all encompassing.
Purchasing a property investment is a huge commitment, much like deciding to raise a family if you ask us. It takes a lot of planning, caution and research and at times an ounce of luck.
These acquisitions are serious business and you need to be ready, completely and atrociously geared up, to have a shot at succeeding. Do you want to know if you’re all set for the part? Check out the following signs and find out if you’re ready to make that purchase.
You know your needs. You can very well distinguish which ones are needs and which are wants. On top of that, you’ve got the negotiables and non-negotiables clearly established. There’s no more confusion at this point because the list has been settled and the property you seek pinpointed. You know where to look and which assets to consider.
You’ve prepared adequate financing. Either you’ve saved enough and/or your credit financing has been approved. By this time, you can grab the opportunity without fear of inadequate resources. Down payment? Security deposit? No problem. You’ve got this covered.
You’ve set your limits. Apart from getting your needs and financing settled, you’ve also assessed your capacity. By now, you are very well aware of how much you are willing to and can spend on the acquisition. In simpler terms, you have managed to write and create your investment budget.
You’ve done your research. From the requirements to the location to the property and even to the sellers, you’ve done your fair share of background checks. In other words, you have completed your homework and are ready for the next phase which is the actual purchase.
You had the property surveyed. A wise investor knows that hiring a chartered property surveyor prior to a purchase is a must. You need them to examine the asset. First of all, they will validate seller provided information for you. Moreover, they shall uncover other pertinent data that will be needed in your assessment and decision making such as ongoing cost estimates, current market valuation, structural survey and the like.
You have the legalities in check. You’ve validated the title and have confirmed that the person selling the property investment is indeed someone who has the rights thereto or was given the power by someone who does. At the same time, you have checked if there are any liens or encumbrances on the asset.
Before closing in on a property, experts would always advise investors and buyers to consult and hire a chartered surveyor to assess and look into things. There’s valid and logical reason to that and we’d like to explain further but it will take us a whole day to finish. Instead, we’re giving you a list of things to ask these professionals when you go about buying a UK investment properties for sale.
Market Value – You’ll want to compare the asset’s current market value against its selling price. They’re not one and the same and variances may occur. More importantly, a surveyor can validate the numbers. If you’re a smart investor, you’ll take everything sellers and brokers say with a grain of salt.
Useful Life – How long will the property last from today? This is an important detail for you to know as this will showcase whether or not the asset shall serve a purpose for as long as you’d need it for.
Condition – Is the structure and foundation still strong? Will it take, say, an earthquake? What are the renovations to be done if any? Are there any necessary upgrades in terms of the building, fixtures, plumbing, roofing, wiring and the like?
Ongoing Costs – Have a clear estimate of the repairs and maintenance costs that you are likely to face should you pursue the property. Some assets pay appear affordable upfront but have staggering ongoing expenses that will leave you in the dumps in the long run.
Depreciation – All properties depreciate and these are expressed in terms of expenses deducted on the asset’s value. You’ll want to know the rate at which it goes so you can determine if the investment is good for your equity.
Appreciation – In the same manner, there are chances that a particular UK investment property grows in value. This is of course given several factors like upgrades, renovations, the economy, nearby establishments, location and more. It’s great to know should you want to lease out or resell the asset now or sometime in the future.
Safety – Is the asset itself safe? How about the neighborhood and its location? You can have your surveyor look up on safety issues and details as well. Besides, why won’t you?
Remember to ask regarding these things from your chartered surveyor before getting a UK property investment!