There are a number of considerations when selling your home that all need to be taken into account. Are you in a hurry to move? Will you be selling and buying? Is there a chain to consider? Getting the timing right and cutting through the jargon will all help in making the process less stressful and more simplified.

  • Do you need to Sell Immediately?

If you don’t need to sell immediately then this is the perfect time to get your property ready by de-personalizing, de-cluttering and fixing any essentials that could inhibit the sales process. Selling when demand is high is also an important factor to consider, this is usually spring and early summer.

  • Look at the Wider Picture

Consider what is going on in the housing and financial market both locally and nationally. Current buying attitudes, interest rates and the lending available to mortgage applicants will all affect the valuation of your property and who will be able to purchase it. What is happening locally? If there are too many ‘for sale’ signs in your area then this can potentially put off buyers and in turn force the price of your house down.

  • Getting an EPC

Anyone selling their home is now legally required to provide an Energy Performance Certificate (EPC).  This shows how much energy a building uses. An EPC works by helping home owners reduce their bills by making it more energy efficient. You will need to find an accredited domestic energy assessor who will assess your home and then provide the certificate.

  • Budget for your Sale

Budgeting for the sale of your home is as important as putting financial plans in place to buy one. The costs of selling can add up! An EPC can vary between £60-£100 depending on the provider and the estate agent.

Estate agents fees are chargeable when the property has been sold, they are normally charged as a percentage of the sale, although some agents charge an upfront fee which is often considerably less than a percentage of the property.

Conveyancing costs need to be budgeted for as a solicitor is needed to assist in all of the legal aspects of selling your home. These costs will vary so getting a quote is a good idea as costs can escalate if there are any disputes or queries. Depending on if you are selling and buying, discounts on conveyancing costs, or fixed rates can be arranged.

  • Current Lender’s Fees

Check with your current mortgage provider if there are any costs or administration fees for repaying your mortgage early.

  • Removal Costs

Removal costs will depend on how far you are moving too, whether or not you use a professional firm or if any goods are going into storage.

  • Tax

Your solicitor will be able to advise you on any liabilities that you may incur from the sale of your property. If you have lived in your house and it is the only one you own then you will not have to pay Capital Gains Tax on any money you make when you sell it. However, if the property has not always been your main home or it has been used as part of a business, such as room rentals to lodgers then a tax liability may apply.

By Harry Price

Harry Price is a freelance writer who lives in a small villiage on the south coast.  He draws on his coastal surroundings for inspiration and loves nothing more than long walks by the sea with his wife and 3 dogs.