To spend or not to spend?

The conundrum about how much to spend on freshening up a property before placing it on the market comes under the spotlight in our latest Expert View, by our Sales Negotiator Diana Hayes.

Q: I have a limited budget to spend on my house before putting it on the market. What should I do?

A: The very first step is to stand back and be as objective as possible about your property.

Think about it from a prospective buyer’s point of view. Remember first impressions count – so consider the big picture.

A fresh coat of paint may be all that’s needed to maximise its ‘kerb appeal’. If the paint is faded or peeling, it may suggest that the whole property is in a similar state and deter potential purchasers.

It’s also important thing to bear in mind that the whole house should be of a consistent standard.

For example, if it’s being let down by the décor in one particular room, then it’s probably worth a refresh but not so much that it makes the rest of the property look tired.

Always consider the garden. Is it letting the rest of the property down? It might be worth thinking about a makeover – or a good tidy up may work wonders.

As well as objectivity, the other key word is perspective. It is tempting to want to make your house look like a show home.

Generally speaking, it’s not worth spending huge amounts of money if you’re unlikely to recoup your outlay in the final sale price.

Presentation tends to become more important in a raging buyers’ market, when there’s lots of property available and you need to make yours stands out from the crowd.

In the current market, on the other hand, well priced properties will remain in demand.

Chinneck Shaw will be able to offer the best advice about how to present your property in its best possible light and about the necessity for any work. 

So, by all means spend any money necessary to bring your whole house up to the same standard but remember that it’s the little things, like fresh paintwork and overall cleanliness, that often make the biggest difference.

Remember to always use a professional from the Portsmouth Property Association for any advice or services.