If the walls are closing in and your incarcerated kids have convinced you it’s time to sell up and find a bigger home, then the time to act is now.
As we are seeing with the easing of restrictions across Australia, the lockdown won’t last forever. And it always takes a few months to prepare a property for sale.
As so many thousands of Australians have discovered, there has never been a better time to get down to the hardware store and pick up a few essentials to paint the spare room or fix some of those annoying problems around the house.
If you want to hit the market when the buyers are primed, you need to start preparing your home for sale now.
It’s true that perhaps a third of sellers have left the market, waiting to see what will happen to prices in the aftermath of the coronavirus crisis. Their withdrawal has created scarcity in the market, so we’re not seeing the price freefall that some had predicted.
That’s great news for you, as this means there are fewer properties like yours from which the buyer can choose.
Don’t try to pick the timing of the market if you’ve set your heart on selling. Now is the time to prepare as eased restrictions allow for open houses and private inspections under strict social distancing rules. Also, be aware there are new options to attract buyers that are proving highly successful, including 3D virtual tours and video walk-throughs on apps such as FaceTime, WhatsApp and Messenger.
We’d be happy to talk to you about how you should be preparing your home for sale and the various technologies to help you get the best possible price.
Here are eight common-sense reasons to act now:
- The lockdown is easing and more buyers are moving into the market.
- Government policies related to COVID-19 are seen as providing a safety net, thus instilling confidence in the market.
- Mortgage repayment flexibility means the sudden rise in unemployment hasn’t hurt property values as they might normally.
- The fall in listings has delivered a scarcity of properties that has helped maintain prices.
- Most vendors remain reluctant to discount their asking prices, knowing the market will strengthen.
- Interest rates are at an historic low with many 3-year fixed terms at less than 3%, which is driving buyer optimism.
- Many buyers who are seeking a deal or their ideal property know they have fewer people to compete against.
- Investors have moved cash from the stock market and now seek a more stable, longer-term return from real estate. This has contributed to stablising price levels to a certain extent.
