When developing properties we often think our target market is first time buyers, downsizers and upsizers but we often forget that other property savvy investors like ourselves may be looking to buy, endlessly scrolling through Rightmove trying to hunt down their next deal. And your empty, lonely, cold looking, magnolia painted property is their next target.
Why?...It's been sitting on the market for 2 months, no commitment, no offers, no closing date, no movement.
This is an outrage! Your property has been valued at 60K, the highest value in the street! Your property has just had a 10K refurb, its been completely rewired, redecorated, new flooring, a new bathroom & a new kitchen YOU DESERVE FULL MARKET VALUE! But it’s been on the market too long now & here come the investors looking to bag themselves a bargain.
You've paid an extra 2 months of mortgage payments or god forbid bridging & the clock is ticking. Stress levels are rising...will you ever shift your property.
You finally sell after another 4 weeks. You accept an offer at 55K, although you know your property is worthy of that 60K mark. Plus you've paid ANOTHER month of fees!
Property Staging = SOLUTION
You would have had a small upfront fee of around 1-2K on day one after the refurb completed. Your estate agent books in 10 viewings on day 1 of the property going online. All buyers are interested, submitting offers or notes of interest. Your property goes to a closing date.
You were expecting the top offer to be 60K, you were offered 66K! That 1-2K you may have thought twice about paying, has just made you an extra 5K. RESULT!
You avoided 3 months mortgage/bridging payments. You got 6K more than you expected, oh & all that stress...well it just didn't happen.
...Now for that next deal!