If you want to sell your bungalow, the process is fairly similar to that of selling any other type of property. However, bungalows have a specific target market meaning that you may need to think about certain selling points to highlight when listing the property. It is possible to sell a bungalow fast if you are able to market it properly, make it sale-ready and choosing the correct asking price.
How Easy Is It to Sell a Bungalow?
In recent years, the demand for bungalows has grown. Within the property market, they are considered to be a fairly good investment as they tend to hold their value or, in some cases, even increase their value. The downside of bungalows is that they have a relatively niche target market so will not necessarily appeal to all prospective buyers.
It can be quicker to sell a bungalow in a seller’s market – that is, there is a high demand within the pool of prospective buyers and a low supply of available bungalows. Additionally, bungalows could be a good option for buy-to-let investors, especially in the years post-pandemic where there is a greater demand for outdoor space.
Before selling your bungalow, you should consider the following factors:
- The current condition of your bungalow
- The state of the property market in your local area
- The asking price for your bungalow
How Can You Sell Your Bungalow Fast?
If you want to speed up the sale of your bungalow, you can take certain actions to make the sales process faster. Find some tips below to sell your bungalow quicker:
1. Adjust Your Asking Price
It can be tempting to set your asking price as high as possible to maximise your profit; however, this is a bad sales strategy and could deter prospective buyers. If you want to sell your bungalow fast, set your asking price to something more competitive. Experts recommend setting the price as 70% of the property market value. The idea behind this is that it will likely attract multiple prospective buyers who can then put in higher offers and boost the asking price up to the real value. You need to be realistic about pricing your bungalow as setting in a price that is too high will result in a much slower sale.
2. Highlight the Key Features
There are key reasons why buyers might look at bungalows rather than flats or houses and the specific target market will likely be prioritising certain features. When marketing your bungalow, you need to think about what these features might be so that you can highlight them properly through the property listing and photos. One of the key advantages of a bungalow is accessibility so make sure that you have clearly stated this in the listing. Similarly, another reason why people look to move into a bungalow is for the space it allows. Make sure you express the size of the bungalow plot and highlight whether there is any outdoor space.
3. Appeal to Buyers
Make your bungalow seem more attractive to buyers by making sure to make any small repairs or decorative changes. These changes require a low investment of time and money from the seller but could have a huge impact on the speed of the sale. If your bungalow is clean, in good condition, and with a fresh coat of paint, it is far more likely to sell faster. Any small changes you can make will not only help to speed up the sale but could also boost the value of the home.