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For many, bungalows are wonderfully practical properties that offer easy accessibility and maintenance due to their compact size and single-level configuration. But are bungalows hard to sell?
If you’re planning to sell a bungalow in the near future – or if you’re thinking of purchasing a property of this kind and wish to know a little more about its capacity to sell further down the line – read on.
In this article, we’ll explain what it takes to sell a bungalow quickly. We’ll also explore the potential value of a property of this kind and the levels of demand for bungalows in the UK.
Whether you’re a current or future bungalow owner, you’ll find everything you need to know right here.
Whether you’re selling your own bungalow or a property of this kind has been left to you in a loved one’s will, there are a number of things you’ll likely wish to know before putting it on the market.
For example, you may have concerns that, due to the specificity of the property type you are planning to sell, it will take a long time to find the right buyer and to start receiving offers. You may also wish to know its potential value, and its capacity to appreciate over time.
So are bungalows hard to sell? How much are you likely to get for yours, and how quickly will you receive offers if you list it? Read on for the answers to these questions.
Bungalows tend to maintain consistent and significant levels of popularity in the UK. They are always in demand! This is due to the range of beneficial factors they offer, which include:
Bungalows are always arranged over a single level. For this reason, they are considered to be safe and accessible for individuals of all ages and physical capacities.
It is easy to keep a bungalow in good condition too, as their lack of stairs means that there are few hard-to-reach spots and vacuum cleaners or other cumbersome equipment will not need to be moved between floors.
As bungalows are usually small buildings set within fairly generous plots of land, the potential to add to the property, or even to “bungalow gobble” – whereby the owner keeps the shell of the bungalow but adds additional levels or extensions – can allow for significant value to be added.
In many regions of the UK, bungalows do in fact command a higher asking price than standard houses arranged across multiple storeys in the same area.
This is in part due to their demand. Britain’s population is ageing, so property that is suitable for individuals with limited mobility is at a premium.
What’s more, new bungalows are rarely built. This means that demand far outstrips supply in most locations.
Additionally, the amount of land that comes attached to a home of this kind renders a bungalow a highly attractive prospect – both for the level of enjoyment that can be derived from a large outside space, and for the significant development potential it offers.
As a result, house hunters who wish to extend a bungalow or to demolish it and build on its attached land are in direct competition with buyers who are on the lookout for a bungalow to move into “as is”, meaning the market for this kind of property is highly saturated.
As is the case with any kind of property, the precise value of a bungalow depends on the current market, the building’s location and surroundings, its proximity to amenities, its state of repair, its size and the size of its attached land, its features and the quality of its design and décor.
It is always important to have a clear understanding of the fair market value of your bungalow before you list it for sale.
While properties of this kind are likely to attract great offers, pricing yours too high may have an adverse effect.
House hunters are often very savvy. It’s very easy for them to research the recent sale value of similar homes in your area, and, in doing so, they’ll be able to develop a clear understanding of the amount for which your bungalow should be selling.
If potential buyers consider your bungalow to be overpriced, they are less likely to make an offer – leaving your property languishing on the market for far too long.
This comes with its own costs – including the ongoing maintenance of the property and additional estate agency fees. After a certain amount of time, you may be forced to knock the asking price down to a figure that is lower than its actual value in order to achieve a sale at all.
To that end, it’s definitely a good idea to get your property professionally valued either by an estate agent or an independent RICS qualified surveyor – or both.
We recommend arranging multiple valuations in order to achieve a range of “second opinions” that will help you to determine your home’s value with greater confidence.
Are bungalows easy to sell fast?
Due to the obvious appeal of bungalows, if you are the owner of a property of this kind, you can expect a large influx of offers almost immediately upon listing it for sale.
Of course, to be sure you can sell a bungalow quickly, you should be sure to select a suitable method of sale. Ideally, if you opt to sell via an estate agent, it’s best to create a shortlist of potential service providers and narrow this range down to professionals who:
Take a look at this guide on who to sell your house with for more advice and guidance on this subject.
If you wish to achieve a sale even faster, you may decide to auction your bungalow, or to engage the services of a fast home buying company.
As is the case with most properties, the potential for the value of bungalows to rise or fall depends heavily on the behaviour of the wider market.
However, due to the level of demand mentioned above, along with the finite number of properties of this kind available and their specific appeal to certain demographics, bungalows are more likely than the majority of dwelling types to at least maintain their value.
It is also worth noting that the prevalence of “bungalow gobbling” – the practice of adding additional features and levels to an existing bungalow – means that the number of single-storey properties is more likely to decline than increase.
This will create further scarcity and drive the value of the bungalow up still further in the future.
If you are able to find a “fixer upper” bungalow, i.e. one in disrepair or in need of modernisation, you’re in luck. Properties of this kind are often fairly cheap to renovate, as they are modest in size and usually fairly straightforward in layout and construction, with easy access.
If you are willing to put in a modest amount of work, the returns can be substantial when the time comes for you to sell.
Even if your bungalow does not require significant improvements, however, there is still a great deal you can do to improve its value.
While the value of your bungalow is likely to appreciate automatically due to increasing levels of popularity and demand – particularly in a “hot” property market – you can still add to the perceived worth of your home in other ways.
Like any other property, if you choose to declutter, deep-clean and redecorate your bungalow before listing it for sale, it is likely to attract higher offers. Other techniques to add value to a bungalow include:
You can find plenty more tips – 101 of them, in fact – on adding value to a property in this helpful article.
In the section above, we mentioned auction as one way to ensure you get the best price for your bungalow. In many cases, selling at auction can greatly increase your chances of achieving an excellent offer.
Because properties of this kind are very much in demand, as long as the bungalow is marketed and listed correctly – and as long as that listing includes a detailed description and a good number of pictures – it is highly likely to become the subject of bidding wars.
It is highly recommended that you permit plenty of viewings of the property in advance of the auction date in order to drum up interest.
As a result of multiple buyers haggling over the property, the sale price may be pushed up. In many cases, it may surpass its previously calculated market value by some margin.
Of course, there is always the potential for inadequate marketing on the part of the auction house, as well as mistakes on the listing and even poor luck.
For this reason, it is not outside the realms of possibility that your bungalow will only sell for its reserve price – or even fail to reach that figure. However, this is highly unlikely considering the factors we discussed earlier in this article!
As you can see above, a bungalow can be a very sensible purchase – whether for one’s own comfort and ease of living, or as a sound financial investment.
The capacity of a bungalow to appreciate in value is very clear, and the demand for properties of this kind is unlikely to subside anytime soon – for the reasons we have outlined above.
Even in times of national financial hardship, the significant levels of demand for single storey homes – influenced in part by the UK’s ageing population – and the ever-shrinking supply of this properties country-wide, means that your bungalow is still very likely to receive excellent offers.
So, do bungalows sell well? It’s safe to say that the answer to that question is a resounding yes!
If you are planning to list your bungalow for sale in the near future, you can take steps to ensure that the process goes quickly and easily by getting in touch with us today.
We can provide you with a free valuation and cash offer straight away, and, if you decide to sell your property to us, we can complete in as little as 7 – 14 days.
We can help you to get a great price for your property quickly, whether you prefer to:
This guide on selling your bungalow should provide you with all of the answers and advice you need. For further information about selling property fast, all you need to do is to contact our helpful team.