STAY UP TO DATE WITH REAL ESTATE
Often homeowners who decide to sell finally get around to completing jobs they had been intending to do around the house.
Fixing the paving, painting the front fence and repairing the side gate are typical examples.
The little jobs matter
When preparing your home for sale, these little jobs are important in achieving an expedient sale at the highest possible selling price. This is because buyers typically notice the little jobs too; an ill-fitting gate is easily and cheaply repaired, yet can loom large in the buyer’s mind as a more major problem that hints at other areas of the property being neglected.
Beware of over-capitalising
Of course, you need to be cautious about “over-capitalising” when preparing to sell.
Replacing a bathroom and renovating a kitchen are expensive and, depending on the property and its location, may prove counterproductive in the effort to achieve the best price.
For example, if you were to take a quality home on a lot worth $700,000 in a suburb where the median house price was of that same value, then investing in a new kitchen and bathroom that cost, say, $80,000 may not be the best idea, because it is probably more difficult to sell that property at $800,000. This is partly because it is already above the suburb’s median house price.
Conversely, an original cottage in a well-established affluent suburb is more likely to benefit from renovations when preparing to sell because of the higher demand for “finished” properties in those sought-after areas.
How to present your home
In general terms, presenting a clean and tidy home is always going to help your cause in selling at the best price.
A client once suggested to me that you should present it like you don’t live in it, which is probably a fair description. Paint out bright colours on internal walls, declutter by storing away trinkets and excess family photos, clear the fridge of magnets and kids’ school art, and place items neatly in storage cupboards.
Paint and gardens are two areas of focus that can make a disproportionate difference to the selling price relative to their cost and the effort involved. These tasks can usually be completed by the seller themselves, which helps keep costs down and can make a difference to the presentation of the home, and therefore the price.