Is your neighbour selling their home too? Are there other properties for sale on your road? Should you sell your house if your neighbour’s house is for sale too?
Selling your home when your neighbour’s house is already for sale is sometimes unavoidable, especially if you live in a popular residential location and you are in a position that you need to sell up. You may be seeing this situation as a bit of a nightmare, or an extra stress you can do without. It’s not, however, necessarily the disaster you may think. Read on and find out why…
It’s inevitable that this situation will sometimes occur, particularly in built-up and popular residential areas where you may find 2 or 3 properties for sale on the same street, often side by side. Certain times of the year also make this more likely, for example, spring or early summer when the number of ‘new to the market’ properties is at its highest.
Here is our advice to help you deal with this situation and see it in a more positive light:
Remain positive. This is not the disaster that it may seem, in fact, it could actually work to your advantage. If you think about it, anyone who books a viewing to see your neighbour’s home is highly likely to view yours too. The fact that 2 properties are on the market has no real negative relevance at all – both houses are different and both have their own individual selling points.
See it as healthy competition. A bit of healthy competition never did anyone any harm. Use the situation to your advantage and make your home look better than ever. It will give you even more incentive to present your home to its absolute best for every viewing. Don’t be defeated… de-clutter, tidy and freshen up your home so that it shines out from the rest. It might be worth investing some time on brightening up the exterior too, as your house will be noticed by anyone viewing next door. Place an attractive potted plant either side of your front door, and give the door a clean and polish. Plant some colourful flowers in the front garden and put up a hanging basket. This will boost your kerb appeal.
Chat with your neighbour and work together. You are probably friends with them anyway, or at least say ‘hi’ over the garden fence. Why not suggest you both work together to ensure you don’t undermine each other’s sale. If your properties are both similar in size and layout, their valuations are probably similar too, so you could both agree on a price that you won’t go below, or you could both agree to discuss any offers with each other before you accept. That way, you stand strong together and you won’t jeopardise one another’s price.
If your neighbour’s property sells first, don’t take it personally. Your houses will be totally different in décor and ambiance, so the fact that one sells first is purely down to the viewer’s personal taste. From a marketing perspective, it is great news for your house… one house ‘SOLD’ nearby helps the area to look popular and desirable. It gives the impression to a vendor that they may need to act quickly to buy in your area. Use this situation to your advantage and run with it.
Every person and every property are unique. Your house is perfect for somebody out there; all you need to do is be patient and wait for your buyer.
A buyer will always opt for the property that ‘feels right’ for them. It’s not always the ‘show home’ that sells the quickest – it’s important to remember that your buyer is out there somewhere and your house is perfect for them.
Have you ever found yourself in this position? Have you ever been house-hunting and viewed more than one on the same street? What was the outcome?
We would love to hear your opinions and thoughts on this topic, or any interesting stories you may wish to share. Maybe you would just like a chat about property.
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