OK, so your house has been on the market for six months and has still not shifted. Other properties in your area have sold during this time, while you begin to tire of a constant flow of disinterested buyers and conversations with overly optimistic agents.
Above all else, you are beginning to take personal offence at the fact that your home is being constantly rejected by potential buyers. After all, we are supposed to be in a grip of a chronic housing shortage in the UK, where the market is stacked heavily in the favour of vendors.
Why is your House not selling in a Favourable Market?
Given this and the fact that there are an estimated 10 prospective buyers for every listed home at present, you must look beyond the market to understand why you cannot sell your property. Here is some insight into why your home may not be selling: –
1. You have been consumed with Greed and the Pursuit of a Return
Greed is one of the original seven deadly sins, while it also has the potential to ruin your chances of selling a property. While you may be able to command the attention of multiple buyers and initiate competitive bidding wars for your home, for example, this means little if you inflate the price to a point that is beyond the means of your audience.
To avoid this, do some market research and see what similar homes in the area have sold for in the not-too-distant past. Then check the list price too, as placing too high a premium on your home from the outset may prevent buyers from locating it during their search. The bottom line? Avoid the lure of greed and start with a fair market price, safe in the knowledge that it will probably rise as buyers compete in the current climate.
2. You have failed to notice that strange odour in your home
We hate to broach this as a sensitive issue, but as humans we tend to become desensitised to the odours that cling to the fabrics and surfaces of our home. From damp dogs and incontinent cats to smoke and the lingering smell of stale alcohol, these odours become obvious to potential buyers from the moment they enter your home and can encourage them to form a negative first impression of the property.
Remember that smell is the most dominant sense, except when it is applied to specific odours that you have become accustomed too over time. So seek out the opinion of non-residents when attempting to sell your home, asking them to identify any unpleasant smells and eliminating them with fresh wallpaper, new fittings or a strategically placed air-freshener.
3 Your Decorative tastes are Divergent at best
Everyone has different tastes, and it is this diversity that makes the world such a wonderful and varied place. This is also why there are menus in restaurants, with one man’s delight being another’s worst nightmare!
Having divergent decorative tastes can actively scupper your chances of selling your property, however, as potential buyers need to visualise themselves living in your home and stamping their own identity on the interior. This is difficult with fluorescent yellow wallpaper or a life-size likeness of your own face on the living room wall, however, while the use of dark and domineering colours can also restrict the persepction of space and suppress each buyer’s imagination.
Instead, you need to create a neutral and open layout that creates the illusion of space. By using pastel shades, removing clutter and optimising floor space, you can present your home as a viable real estate investment to buyers.