Planning ahead is a profitable strategy in real estate, especially if you’re thinking of selling your home in today’s market conditions.
Achieving your price ambitions will be possible – so long as they’re not too out of step with market reality – but you’re going to have to make your home shine.
You’re probably asking why there’s so much pressure on sellers now, and whether it’s a good time to be thinking about selling.
Let’s deal with the second point first: you should sell your home when it makes sense for you. Trying to time the market, or somehow manipulate the timing, rarely works in a seller’s favour.
The pressure on sellers revolves around the continuing high cash rate of 4.25% that’s being enforced by the Reserve Bank of Australia. A second factor has been the wave of properties that hit the market in the spring, and the reserved buyer response.
Sales this spring were -4% below the five-year average and properties, according to industry researcher CoreLogic. And they’re staying on the market for 32 days, compared with 27 days in 2023.
However, the average price of an Australian property – said to be $800,000 by data firm Proptrack – has remained robust. Values just registered their 20th consecutive month of growth.
So, why not think about a late summer or autumn sale? This will give you plenty of time to prepare your home so you can maximise its value.
A five-star presentation, combined with a market-realistic price expectation, will attract buyers keen to strike a deal.
Below, we’ve offered some tips to help you.
Professional Photography: High-quality photos are crucial. Always hire a professional photographer experienced in real estate. Talk to your agent about the effectiveness of video walkthroughs, too.
Open Home Timing: Schedule open homes during daylight hours to maximise natural light.
Address Repairs: Fix any minor issues, such as leaky taps, cracked tiles and sticking doors.
Let Light In: With shorter days, ensure your home is well-lit. Open blinds and curtains during inspections, and consider adding extra lamps or brighter bulbs.
Declutter: Pack away personal items and excess furniture to make rooms appear larger and more inviting.
Prioritise Rooms: Concentrate on areas that have the biggest impact on buyers – kitchen, bathroom and living areas. Ensure they’re clean, tidy and well-presented.
Outside Clean-Up: Rake up fallen leaves, especially from the front yard, pathways and driveway.
Keep Trim: Cut back overgrown bushes, shrubs, and trees. Plant some colourful flowers to add vibrancy.
Get in the Gutters: Ensure gutters are clear of leaves and debris to prevent water damage.
Hose Down: Clean windows, walls, pathways and even your roof, using a high-pressure hose. Consider using a professional for this task, especially for the roof.