Our homes ... our castles - we want them. And we want them now. Our grandparents saved up for theirs. Or parents worked overtime for theirs. And we're doing all we can to get ours, and nothing - not even the worst of recessions, not even the worst of property market downturns - is going to stop us.
This tradition has created 17.5 million owner occupied dwellings in our country and which has steadily increased and represents about 70% of all housing stock. Naturally, once entrenched within the walls of our hard won castle we revel in truly making our mark on it. Conservatories are added, new bathroom suites installed, kitchens with granite work surfaces and built in coffee makers chosen. Amtico is laid and gardens are preened. In fact blighty is having a protracted love affair with its bricks and mortar and nothing will come between them.
And that's the snag: when the time comes to sell your precious property - the one you've spent so much time and money on - you're going to be putting it on a market that's lost most of the fizz it used to have. And in these times, you've got to price your property properly. This means you've got to forget about matching the asking price of similar properties in your area, but instead concentrate on matching their actual selling price.
Ask any estate agent who's fortunate enough to still have a job to go to, and you'll discover that valuation visits present a challenge, and not just because it can be difficult to arrive at an accurate estimate. It's the owners, you see. They've put so much into the property that they think it's the best house in the area ... and that should be reflected in the valuation calculation. After all, Number 27 may have gone for over 200k, but their kitchen's a lot smaller, their garden doesn't face south like this one and their decking isn't designed by Handy Andy, like ours is. Number 12? That's been on the market for so long because I don't think the owners really want to move. And as for Number 14? They had some, er, difficulties and needed to move out in a hurry. That's why they sold so much under the market price. The estate agent's heard it all before. And will soon hear it all again, next time he goes to value a property. But that's not to say he's going to up the asking price to more than the property's really worth anyway - just in case.
Every property owner is now an amateur valuer of course, having researched the market 'on Rightmove', notwithstanding that such websites do not display all important SOLD prices, just often whimsical asking prices. A little knowledge is a dangerous thing, etc... There are currently 1.5 million properties for sale in the UK and many have been marketed for months with little buyer interest. The majority of these unsold homes are suffering the burden of 'Precious Property Syndrome', an ailment that results in lethargy and general irritation. There is the prospect of a full recovery as and when the patient finally wakes up.
This tradition has created 17.5 million owner occupied dwellings in our country and which has steadily increased and represents about 70% of all housing stock. Naturally, once entrenched within the walls of our hard won castle we revel in truly making our mark on it. Conservatories are added, new bathroom suites installed, kitchens with granite work surfaces and built in coffee makers chosen. Amtico is laid and gardens are preened. In fact blighty is having a protracted love affair with its bricks and mortar and nothing will come between them.
And that's the snag: when the time comes to sell your precious property - the one you've spent so much time and money on - you're going to be putting it on a market that's lost most of the fizz it used to have. And in these times, you've got to price your property properly. This means you've got to forget about matching the asking price of similar properties in your area, but instead concentrate on matching their actual selling price.
Ask any estate agent who's fortunate enough to still have a job to go to, and you'll discover that valuation visits present a challenge, and not just because it can be difficult to arrive at an accurate estimate. It's the owners, you see. They've put so much into the property that they think it's the best house in the area ... and that should be reflected in the valuation calculation. After all, Number 27 may have gone for over 200k, but their kitchen's a lot smaller, their garden doesn't face south like this one and their decking isn't designed by Handy Andy, like ours is. Number 12? That's been on the market for so long because I don't think the owners really want to move. And as for Number 14? They had some, er, difficulties and needed to move out in a hurry. That's why they sold so much under the market price. The estate agent's heard it all before. And will soon hear it all again, next time he goes to value a property. But that's not to say he's going to up the asking price to more than the property's really worth anyway - just in case.
Every property owner is now an amateur valuer of course, having researched the market 'on Rightmove', notwithstanding that such websites do not display all important SOLD prices, just often whimsical asking prices. A little knowledge is a dangerous thing, etc... There are currently 1.5 million properties for sale in the UK and many have been marketed for months with little buyer interest. The majority of these unsold homes are suffering the burden of 'Precious Property Syndrome', an ailment that results in lethargy and general irritation. There is the prospect of a full recovery as and when the patient finally wakes up.
About the Author:
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