Thursday, March 28, 2024

4 key tips to selling a house successfully

Selling a House: While property developers are often driven by the profits they stand to make through the sale of their units, more often than not they ignore subtle things that have a bearing on how potential buyers view the unit on sale.

Location, many know, is key; but he who banks on location alone to make a good sale often comes out the loser.

Ms. Catherine Kariuki, a valuer and real estate lecturer at the University of Nairobi, says social factors also greatly influence where people will want to buy their homes.

“Some people want to have a sense of belonging by looking for neighbourhoods where they fit in. Therefore, you’ll find them segregating themselves based on their economic class and profession,” says Ms. Kariuki.

The value of a property is determined by the size of land, amenities, and, in these modern times when looks matter more than structural rigidity, the finishing.

Here, how to get the best out of your property:

  1. Location

The location of a property is its first selling point, and if your house is located in a controlled development, there are important things that you must consider if you are to retain the value of the unit.

Mostly, controlled developments are the result of zoning regulations that impose restrictions on the kind of structures one can put up in a particular place, the design of those structures, and the population density they can accommodate.

“Controlled developments have introduced specific ‘classes’ in respective areas,” says Mr. John Miswa, a Nairobi-based architect, “and the value of the property varies depending on the class of people living there.” Such developments, he continues, allow residents to form associations which guard their status quo by maintaining the development’s image.

Why your house may not be selling and its solution

Ms. Catherine Kariuki, a valuer, however, advises that before putting your house up for sale in such a location, you should ensure certain things are alright. “The house may be in the best neighbourhood in town, but if zoning controls are not enforced, its value will still depreciate,” she says. To maintain the quality of the neighbourhood, Ms. Kariuki says it is important to control what comes up the surrounding environment.

Also, check whether there is something you can do to improve the structure and use materials that last long. For instance, clay-tile roofs age better, unlike iron sheets.

The legality of open spaces around the development can also take a toll on the value of the house. Lately, says Henry Ochieng of the Kenya Residents Association (Kara), there have been myriad complaints of developers encroaching on open spaces.

“For every estate being developed, the law requires that land is set aside within the development of nursery schools, children’s playgrounds, and other social amenities. However, some developers end up using those pieces of land to build more houses or sell them to people who use the land for the wrong purpose,” he says.

2. Amenities

Buyers are always keen on the amenities near the property, particularly proximity to a shopping mall, school, hospital or a recreation facility. While location is crucial to a buyer, social amenities are an essential part of life, says Ms. Kariuki.

“Many areas, for instance, are not attracting buyers because of the quality of water, and buyers will always avoid places where the only available source is a borehole,” she says, adding that many prefer water connections provided by local authorities.

Ensure, too, that the infrastructure surrounding your property is incorporated into your marketing pitch. The value of your property significantly rises if it is located close to a road, has a proper connection to a sewer line, and there is an assured supply of electricity, says Mr. Miswa. “Buyers also want easy access to their new home, and to breathe fresh air whenever they are resting in their houses.”

Although security should be provided by the national government in liaison with county governments, Ms. Kariuki says that providing extra security to the neighbourhood increases the value of the homes therein.

“Everyone is attracted to an area that has good security, therefore implementing such things like community policing and neighbourhood watch will come in handy when selling the property. Where there is no demand, there is no market.”

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