The Bank of England has predicted the UK is headed for a recession in 2022/2023. With rising living costs hitting many households, there is a noticeable nervous energy in the property market.
Whilst a recession will create some fantastic home-buying opportunities, mortgage lenders will be more cautious about issuing mortgages, and budgets may be smaller.
Property buyers will be more anxious to part with their hard-earned money and will be looking to make savings wherever possible. They will want to give competitive offers on properties for sale. This means it is now more important than ever for property sellers to protect their investment and showcase the true potential of their properties.
How can you ensure your property sells for a fair price?
If you are selling a property this year it is understandable that you may be nervous about being able to get the price you want, especially during a recession. You do not have to compromise on your ideal asking price if you market your property effectively.
When looking at marketing your property there is one key technique to encouraging the very best offers on your property – Home Staging. Marketing your property will be focused on making the very best impression. You may have the best photographer and estate agent in the UK, but if your home is not staged to showcase it’s potential, your investments could be wasted. By staging your property you are giving your photographer and estate agent everything they need to be able to market your property for a quick and profitable sale.
Home Staging is a valuable investment.
In a recession, property buyers are more cost conscious, and so it is vital to showcase your property in the best light and stay ahead of the competition. You also need to show buyers that you understand the value of your property, deterring potential buyers from making offers under the asking price.
The potential of your property can be showcased through home staging, which enables those viewing your home to imagine how they would live and use the multiple spaces. Home staging techniques create space, emotion and style; all of which help you to sell your property efficiently and for the price wanted.
In a market where buyers are more money savvy, you need to show that your property is better than the rest. By staging your home, you are creating emotional connections, showing potential buyers that your property is the home they can imagine living in. "Sell a lifestyle, not a house!"
...and when that emotional connection is made, potential buyers will be more likely to put in an offer that is on or above your asking price. They will also be more reliable and invested throughout the sale process. After all, you have shown them the lifestyle of their dreams.
Working in the property industry?
If you work in the property industry, such as an estate agent or property investor, home staging services are now vital to recession-proof your property business. By staging the properties, you are letting and/or selling, you can encourage better listings, and quicker sales; all of which will help tackle the rising costs in the property industry. It has never been more important to make a profit on property sales, and home staging services, such as those offered by our team at StylesSpaces, enable you to make the most of your investment.
Need to know more?
You can contact us
to arrange a consultation to discuss your property for sale.