The property market’s current strength is encouraging many owners of apartments to consider maximizing the value of their home by putting it on the market now.
With values continuing to rise on the back of economic optimism, low interest rates and pent-up buyer demand, there has rarely been a better time to test the market.
Property stock has remained stubbornly low, which has helped boost prices. Combine this with the high entry-rate of first-time buyers into the market, and I’ve seen many clients enjoy substantial offers for their properties.
Prospective buyers of apartments are seeking a great location and will pay a premium for amenities such as an on-site gym, swimming pool or tennis court. Perhaps more than ever, today’s buyers want convenience and lifestyle wrapped up in one package.
If you want to make the most of this booming market, you still need to be well-prepared, or you’ll not maximize the value that your property holds right now.
Here are eight tips to maximize the value of your apartment.
- DIY walk-through – Walk through your apartment as if you were a buyer and make a note of all the small things that need fixing. This is a great way to prepare for a sale and creates a ‘to do’ list that will keep you focused.
- First impressions count – Give your apartment a quick facelift with a fresh coat of paint. Keep colours neutral as this increases the sense of space and light.
- Splash out in style – try to stretch your budget to hire a professional to style and stage your apartment. It’ll make a huge impact and give you the best chance to get a great price quickly.
- Let there be light – Embrace the warmer, longer days by pulling back your curtains and letting in the natural light. Properties always look bigger when the light is good. Move away any furniture near windows that blocks the light.
- Have a spring clean – Open the windows and let the air through the home. Clean the ceiling fans and watch out for mold that might have accumulated on vents. If you can, clean the windows, too. It’s incredible how grime reduces the light that comes into your apartment.
- Out with the old –An untidy, cluttered apartment will feel small and inadequate. Go through your home and see what can be thrown out, given away or stored until you find your next place. You’ll be amazed at how much space you’ll create.
- Bring sunshine indoors – Get into the season with some splashes of color. Consider bright cushions and throw rugs in the living areas and bedrooms.
I’d welcome the opportunity to help you decide whether this is your optimal time to sell and discuss price trends and buyer behaviors that will affect your apartment’s ultimate sale price. Don’t hesitate to call if I can be of assistance.