Step Three: Plan your move-by date
What’s the date you’d really like to be in your new home? Perhaps you have a deadline, like a job start date, a school term or an impending new arrival. But even if you don’t have a specific date in mind, chances are you don’t want to spend months, or longer, languishing on the market, so planning for an ideal timescale can be helpful.
Once you have decided when you want to sell by, you need to work back, and account for three factors:
- Pre-launch - the time it takes to put your property on the market;
- Marketing time - the time it will take to achieve a successful offer
- Sale process - the conveyancing time: in other words, the time it takes the two solicitors to complete the sale.
Let’s estimate these realistically, so you can plan your move. Of course, the unknown timescale is the number of weeks or months that it could take your home to sell, but let’s take the average as a guide.
Pre-launch – this is the time to fix that leaky tap, repaint your garden gate, and generally attend to all those little maintenance jobs you may have been putting off. Once you’re ready to put your house on the market, your estate agent needs to photograph it, prepare your floor plan and property description, and finally, upload your property advert to the relevant portals.
Marketing time – the average house sale in the UK takes between seven and fourteen weeks, according to TheAdvisory. However, if you have a home you regard as unique – like a listed property, a thatched cottage, or an exceptionally large house – it may take much longer to sell. Your estate agent will be able to guide you on this, based on their experience of selling similar homes.
Sale process - conveyancing in the UK takes on average, around ten weeks, from offer to completion (handing over your keys). However, this time frame does not take into account any delays caused by surveys, particularly if you have a leasehold property, or one with special covenants attached. Also, long property chains can hold things up, but a good agent will help expedite this process, by maintaining good communication with all parties as the sale progresses.
Taking all of the above into account, you may find that planning for a six-month timescale is about right, but your estate agent will give you their best advice based on the market, current demand and your particular type of house.
Planning this far ahead will leave you ready for the curved balls that will inevitably be thrown your way, and make sure you remain unstressed and feel fully prepared.