Financial things to consider when selling a house
For many people, moving house is something that you don’t do very often, and it can be daunting for many reasons. It’s a big change in life, and there are a lot of things that can go wrong if you’re not careful and this can be costly. There are many financial things to consider when selling a house. Check out these tips to maximise your finances when selling a property.
There are lots of things that can go wrong when moving house. It's never guaranteed to be a smooth transaction and process. Property can get lost, the selling of your house might not go as planned, you might pick the wrong 'experts', things can get very delayed, and it can be very very stressful.
Not only is it stressful, but when things go wrong it can cost you more money. In order to make the most of the situation, you should be doing everything you can to make the whole ordeal easier on your bank account. You don't want to waste money when you are already making perhaps the largest purchase of your entire life.
Check out this list of costs to prepare for when buying a house.
Here are some things to think about when it comes to the financial side of buying a house.
Getting your mortgage
Of course, when investing in a new home, you’re going to be looking for a mortgage to pay for the home with. When doing this, it’s important that you’ve explored your option to find the most agreeable one for you.
Check out why using a mortgage broker might be the best decision for you and also these tips on how to save money on your mortgage.
If you’re someone who is struggling or dealing with bad credit, you might find it more difficult to get a mortgage for yourself. Luckily, there are bad credit mortgages available and can be a way for even those with poor credit to have an easier time getting a property of their preference. It can be difficult to get past, even when you’re doing better financially - and luckily these are a good way to get what you need.
Picking your services
Obviously, not everyone has the know-how or the means to deal with the moving of the house all by themselves. There’s a lot that goes into selling a house and moving out, and unless you’re fully equipped - which is highly unlikely, you’re going to need to invest in someone else’s services. First of all, you need to consider your real estate agent. You want someone who can help you get your house on the market, and also provide some insight on what you can do to make your house more appealing.
On top of that, you’ll want to consider your removal company charges. Remember you’re trusting someone with all of your property, so it would be best to make sure you have a company that you’re ready to put that trust in. Of course, a better quality service might set you back a bit, so you should consider what’s more important to you.
It's not all about picking the cheapest services, but here are several tips on how to save money when selling your home.
Save money on removals
Removal services are expensive, but you can make them cheaper. In fact, if you’re not going to move very far away, you might consider asking someone to help you move instead. Anyone with a bigger vehicle that can carry your belongings may be enough, and it might not take very long. On top of that, if you were to pay them, it would likely be cheaper than a removal service.
If you are competent, then you can hire a van and move yourself. For our pending house move we have worked out it will be half the price for us to move our own belongings in a van into storage for two months, compared to the cost of hiring a professional movers. This is a considerable saving.
Check out all these ways you can save money on removals.
Getting a higher price when selling
It can help a lot if you can add some numbers on top of the current value of your house, and investing in it before you sell might be a good idea. Small renovations, repairs, and similar changes might help to fetch a higher price when the time comes to sell.
Make sure you're aware of the different home improvements and their effect on the value of your home to ensure you get a ROI. You can always ask estate agents for their advice when it comes to improving your home and how much its value will increase by. This will ensure you don't spend money unnecessarily and fail to get a return.