Want to take your next step up the property ladder? Whether you want more space or a garden, there are lots of great properties on the market for second steppers right now. Jenny Carswell, Edinburgh & East Lothian Regional Sales Manager for egg partner Gilson Gray, shares her top tips for first time sellers...
SORT YOUR FINANCES
Pre-Approval for Your Next Home: If you plan to buy another property, get pre-approved for a mortgage. This ensures you know how much you can afford and can move quickly once you sell your current home. Gilson Gray work with a variety of mortgage advisors that we are happy to recommend.
Budget Planning: Assess your financial situation and budget for the costs associated with selling, such as estate agent fees, legal fees, and any necessary repairs or improvements.
RESEARCH AND CHOOSE AN ESTATE AGENT
Local Knowledge: Look for an estate agent with good knowledge of the local market. Check their track records, read reviews, and ask for recommendations. If you’re considering Gilson Gray, here’s what our clients have to say.
Valuation: Understand the market value of your property and set a competitive asking price. It's only natural to want to maximise your return, especially when you are looking to purchase a more expensive property. But it’s important to set realistic expectations. Always take guidance from your Valuer. Gilson Gray offer a free valuation service, email [email protected] to book.
Legal Preparation: Choose a solicitor or conveyancer early in the process. They will handle the legal aspects of the sale, such as preparing contracts and managing the transfer of ownership.
Documentation: Gather all necessary documents related to your property. Title deeds, warranties and planning permissions will streamline the legal process.
PREPARE YOUR HOME FOR SALE
Now is a great time to sell. The warmer weather and lighter nights make for ideal viewing conditions. Plus, gardens are in full bloom with natural light enhancing interior spaces. This can make homes more appealing to prospective buyers. However, you must undertake necessary repairs before marketing your property. It’s no secret that properties that appear run-down or even cluttered can turn off buyers from booking viewings. It can also impact the value.
Invest in minor repairs. Declutter and clean to make your home more attractive to buyers.
WHERE TO BUY
We find that many second-steppers are often in search of school catchment areas, transport links and good local amenities. Morningside, Corstorphine, Silverknowes, Portobello and North Berwick are often some of the most popular areas.
KEEPING YOUR FIRST HOME
If you don’t need to sell your first home in order to take the next step up the property ladder, Gilson Gray have a dedicated Lettings team to help you navigate the journey towards becoming a landlord. Our Residential Conveyancing team can advise you in terms of the legal and tax implications of purchasing a second home in order to help you determine the affordability of this option and potential future costs to budget for, in addition to typical home purchasing costs.
*All properties featured are currently on the market with Gilson Gray, Scotland’s leading estate agents. 43 Falcon Gardens and 5 Juniperlee Juniper Green.
For more information or advice, email [email protected]. Paying egg members receive a £400 discount on houses valued up to £400k, and a scaled 10% discount on values thereafter. Non-paying members receive a flat £350 discount on estate agency fees as well as 10% off conveyancing.
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