You might think this is plenty of time, but if you are looking to find a new home and sell your current property, you might not have as much time as you think.
At Austin Property Services, we are pleased to say we have helped many vendors and buyers, and we can help. If you are looking for fast lockdown sales tips to help you maximise the opportunity provided by the recent stamp duty changes, we are here to assist you.
Key points of stamp duty changes
The key points of the stamp duty holiday, implemented by the Chancellor of the Exchequer on 8th July, are:
Stamp duty threshold is now £500,000
This increase in stamp duty threshold is set to run until 31st March 2021
The increase in stamp duty threshold takes place immediately
Naturally, most of the focus has fallen on buyers, and how they are helped by this measure. Of course, buyers and vendors are connected, and good news for buyers can be of benefit to vendors.
An increase in buyers should encourage vendors to enter the market
With homeowners feeling confident about the number of prospective buyers looking for property, more people will be inclined to place their house on the market. Equally, if a homeowner feels they can afford their next move, they will commit to the moving process.
When there are more buyers, vendors should feel more confident about committing to the sales process. Therefore, the stamp duty changes should provide impetus and motivation for all parties in the housing market.
Mark Hayward is the Chief Executive of NAEA Propertymark and he said; “With housing market activity picking back up this summer after a two-month hiatus, it’s more important than ever to go the extra mile and take every possible measure to help your property stand out. If you are looking to sell your home this summer, turn to your local NAEA Propertymark estate agent to guide you in the right direction and help you ensure all new safety measures are complied with, to increase your chances of a speedy sale.”
NAEA Propertymark has also issued the following tips to help vendors connect with buyers when selling their home this summer and autumn:
Ensure your home is up to date with safety features and measures
Make the condition of your windows a priority when improving your home
Spend some time in the garden creating a favourable and welcoming style
Opt for a neutral décor, keeping decorations simple so as to provide prospective buyers with a blank slate
If you have a pet at home, make sure all nasty pet odours are removed before welcoming likely buyers
Make sure all DIY repair work is taken care of
Each property owner and home will have individual issues which need to be dealt with, but using these tips as a starting point will help you connect with likely buyers. If you want tailored guidance on what your home needs to impress buyers, we can help.