Monthly Archives: August 2015

Floorplans are now essential to sell a home

Floorplan – you won’t sell your home without one
Floorplans have been around for years as far as new homes are concerned. They are essential, especially in the early stages of a development when the show homes are yet to be built and for “off Plan” sales. In addition, not every house type or variation will be available to view before it is released for sale. But with the advance and popularity of online portals such as Rightmove and Zoopla, floor plans have become more4 Bed detached 1Homes marketed without a floorplan are very likely to be dismissed out of hand by those searching for a home online. This is even more likely the further a buyer lives from the property.

What should be included in the floorplan

The floorplan should be fully dimensioned with both imperial and metric measurements for each room. This enables buyers to easily determine individual rooms sizes and where the measurements refer such as into a bay window or alcove. The total floor area in square feet/metres should also be shown, enabling potential buyers to compare floor areas and value against other properties. As new homes and room sizes become ever smaller, with UK new homes being some of the smallest in Europe, the size of the average UK new home is just 76sqm (818sqft); a relatively new four bedroom house can have the same floor area as a 30 year old three bedroom home.

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When the time comes to sell your new home

The valuation of older “new homes”.

Estate agents – they only act in their own best interests
For sale board 1Estate agents proudly state that a home was sold in 12 days, with the implication that the agent is good – more likely he was just plain lucky. It is even more likely, in fact a virtual certainty, that the home was severely undervalued by the agent in the first place. Sold too cheaply. You don’t need an estate agent to sell your home at a bargain price and paying upwards of £7,000 commission to the agent is adding insult to financial injury.

Whilst it is well known that most buyers take what they are told by estate agents with a pinch of salt, the same cannot be said of those selling their homes. All too often they are far too trusting, believing that as they are paying an agent for a service, acting on their behalf, in their best interests. However the industry is like the proverbial giant squid, is always “sticking its tentacles into everything property that smells like money.” Take the Energy Performance Certificates (EPC), arranged by agents for £105 yet available online for under £40. The managers running offices in high street estate agents have monthly sales targets to meet. They need properties on their books that they can sell. Homes they can sell quickly, with a minimum of time and effort or they will lose both bonuses and commission. It matters little to an agent when an offer of £20,000 less than the “asking price” is made. He loses around £300 (at 1.5%) but the vendor loses £20,000!

The great sellers’ rip-off begins with the valuation visit. They invite the agent into their home for a valuation, trusting that the agent is the professional and will advertise their home for the maximum achievable in the market. The agent will already know what “price” he will tell you to market your home for before he even gets in his car! This will be based on the most recent sales and homes currently on the market in the area. It will have little to do with the location, condition and features of your particular property. If a four-bedroom home on an estate was priced at £335,000 and sold for £320,000, then this is what he will suggest you market your four-bedroom home for and the price you can expect to get. This irrespective of the desirability of your home and whether it is double fronted and has additional rooms.

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