STAY UP TO DATE WITH REAL ES­TATE

Pilbara News - - Lifestyle - Hay­den Groves Hay­den Groves is the pres­i­dent of the Real Es­tate In­sti­tute of West­ern Aus­tralia.

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.

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