It’s easy but dangerous to become complacent if you intend to sell your home in a red-hot market.
The media headlines amplify the big prices paid for some apartments and houses, and you can begin to think selling your home is only a matter of putting a “For Sale” sign at the front of the property.
You want to avoid this mindset at all costs because even in a booming market it will undermine your chances of maximising your home’s value.
As an experienced agency, we know that owners who make no effort to prepare their home, or leave obvious maintenance tasks to the next owner, achieve sub-optimal prices.
Any issue with your home will undoubtedly turn away some motivated buyers and become a point of negotiation for those who stick around. You could be asked to provide a discount to pay for the outstanding work that needs to be done.
If you’re thinking of putting your apartment or home on the market, we’ve pulled together a few ideas to inspire your thinking and guide you towards achieving the best price for your home.
Let go of any emotions
The day you decide to put your property on the market, it stops being a home and becomes a product to be sold at the highest possible price. This can be emotionally tough but making the break will make it easier to make many of the decisions that come.
Fix the obvious
Address any maintenance issues that are easily seen in an inspection. It costs you marketing dollars to attract buyers, and you don’t want to turn them away because they’re not interested in fixing things.
Take a walk
Wander through your home with a critical eye. Identify issues that you believe potential buyers will see during a viewing or Open House. Prioritise those problems as part of your preparation for sale.
Renovation reward
If you can afford to upgrade your kitchen or bathroom, this will surely maximise the value but be aware that this can add to the time it will take to go to market – especially at the moment with long delays due to Covid. Adding another bedroom is also a winner but expensive. Be aware that if you spend $30,000 or more, you’ll never know for sure after the sale that you got your money back. If you’re considering large scale works, we’d be happy to do an appraisal and help you understand the options that might help you get the best offer before you commit.
Low-budget options
It’s amazing what will impress buyers but requires minimal investment. Consider focusing on your street appeal. Spruce up the garden with new plants, apply a fresh lick of paint on windows and the front door. And look at installing some affordable technology, such as security cameras and electronic locks, to enhance security as these often make a good impression.
Proven returns
Research suggests some of the best investments include replacing a double-garage door and improving your gardens and entertaining area. However, you should always discuss such options with your agent. We’re across the features that buyers value and can share what’s hot at the moment. A quick conversation could save you thousands of wasted dollars and a lot of effort.