House prices in the region continue to decline and there is fairly pessimistic talk about a further decline in both prices and sales levels throughout the rest of 2011. However, there are some steps to take to help you get the best out of the property market – for buyers and sellers.
It might not be obvious to homeowners in the Midlands but taking advantage of storage facilities around the West Midlands and Warwickshire can be a great benefit in getting and keeping a buyer. For those buying, the storage units can also help them get the property they want at the price they want.
1. Move Fast
When a buyer comes along, it makes sense to do your very best to meet their needs. If they are willing to wait for you to look around the property market at leisure, that’s great. But if they want a quick move and you haven’t found anywhere to go then renting self-storage units will allow you to keep your possessions safe but accessible whilst you move into smaller, cheaper temporary lettings [or stay with family and friends if you are lucky]. There’s no long-term commitment so you only pay for the space you need for the time you need it.
Buyers don’t lack imagination but in an overcrowded market, they simply don’t need to use it. If your home is like most and over-cluttered with the everyday accumulation of ‘stuff’, then buyers will see the clutter, not space; they will see the mess, not the potential. So before you start marketing – and certainly before the estate agent takes those all-important photos – ruthlessly declutter and put what is not essential into a storage unit. With 24/7 access, nothing will be too far away if it is suddenly required.
Moving to a smaller property after the luxury of a larger property is one of the most difficult property moves people make. Aside from the emotional impact, the question often asked is ‘where will all my things go?’ One answer is into a self-storage unit. Even if it is only a temporary measure – and there is no long term rental commitment – it will allow you to take time to decide what possessions you really do want to keep or not. Furniture can be stored safely and cleanly, so you can move items from storage to home easily.
4. A mortgage for storage
In previous blogs, we have written about how home buyers often overestimate the amount of space they actually need and tend to fill spare bedrooms, reception rooms and garages with possessions. Effectively homeowners are paying a mortgage for storage, and that makes no sense at all. There are enough self-storage units in the West Midlands and Warwickshire for the smart homebuyer to be ruthless about the amount of space they actually need – enabling them to buy a smaller property at a lower cost – meaning a smaller mortgage and lower running costs.
So while the property market remains difficult – with falling prices, overpopulated stock and few First Time Buyer mortgages – local buyers and sellers can use self-storage West Midlands facilities to find and keep a buyer, ease the pain of downsizing or lower the cost of their next [or first home].