by Housesimple on 20th May 2018
Selling a property in need of some TLC? It’s not a problem – it’s an opportunity. A fixer-upper could be a perfect find for a lucky buyer looking to invest and earn handsome returns or to create their dream home on a budget. The key is to help your buyers see this potential in your property. And with a few smart ideas and a bit of expert help, you could engineer a quick sale.
Paint a picture
The key difference between a problem property and a fixer-upper is vision. If you can show off the potential, there’s more chance someone will buy into it. Optimise your property description for buyers seeking a project by listing original features worth restoring. Pick out cornicing or wooden floors and practical opportunities like areas where extensions and garages can be added. Take lots of pictures of these spaces too, because images can make or break a listing.
However, for you to market this angle effectively, you’ll need to identify any pitfalls early. A good example is grade-listed status. You can use the National Heritage List to find out if your building is listed, and check the dedicated Planning Portal page to discover how that might limit any potential renovations.
Buyers in the market for a project will also be wary of properties that could have more problems than initially meet the eye – and with good reason. A Which? survey found that 55% of property surveys uncover some sort of problem. So rather than face your buyer backing out or renegotiating the price, get the survey done yourself and show them they can trust you.
To attract as many bidders as possible, you could also consider taking the first step to solving some of those problems. That could mean getting quotes for any major repairs, or obtaining planning permission for renovations, reducing the amount of work needed to finish the job. By doing this you’ll not only appeal to professional renovators but also open up the sale to those buyers considering their first fixer-upper – who may need a little support.
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