The summer break offers an excellent opportunity to assess plans for 2024 and beyond, including whether it’s time to seek a new opportunity in the real estate market.
While the market has endured 13 interest rate increases since May 2022, most predictions suggest they will begin to fall around mid-year, although the Reserve Bank of Australia says it remains concerned about the 5.4% inflation rate.
As a homeowner, low mortgage costs will boost your property’s value but encourage others to sell, offering buyers a wider choice and some bargaining power.
Deciding to upgrade or downsize isn’t a minor decision, and even in a resurgent market, you want to spend time preparing your property to maximise its value.
You still have time to catch the late-summer sales season if you prepare your home for sale.
Priority
Creating a great first impression is one of the most important tasks when preparing your home for sale. Ensure your garden is tidy, with the lawn mown and flowerbeds free of weeds.
Making an entrance
If you have a porch-style entry, decorate it with plants and flowers. If there’s room, consider a small table and chairs.
Keep it clean
It’s equally important to ensure you’ve maintained the exterior of your home. Gutters should be cleaned and overgrown shrubs or trees trimmed.
Peeling paint
Invest in repainting the exterior of your home if it’s looking a little tired or shabby. If time is tight, employ a professional painter to complete the job quickly.
Go deep
Another contractor you may wish to hire is a professional cleaner. It pays to have your home professionally cleaned before buyers come knocking. Don’t underestimate the time this will take if you wish to complete the task yourself.
Make space
Declutter your home of personal knick-knacks and unnecessary furniture, which will help increase the feeling of space. Thinning out belongings and clothes in wardrobes will leave an impression of sufficient storage.
Pre-inspection
Ask your agent to undertake a pre-inspection a week or two before your sales campaign starts. They’ll see any issues or flaws, giving you time to rectify them.