Gone are the days when properties on the market weren’t styled within an inch of their lives. Within the current housing market, almost every property that is offered whether for sale or for rent, has had a significant renovation or face lift or at the very least a declutter and style-up. There is a very good reason for doing this as it increases the potential interest in the property which generally translates to more money. It’s a very basic rule of economy: the more people want something, the more interest it will attract and the more likely the price will go up.
If the main secret to the successful sale of a property is increasing the number of people engaged in competitive bidding, then you must entice people into visiting the property and convincing them your property is better than others on the market. How do we do that? We show our property as inviting, comfortable, welcoming, hassle-free and ready to move in. We should only invite people to visits when the property is complete and ready and we have highlighted all the good features and minimised the defects. Whether you are selling in a strong market or one that has bottomed out, our first tip to get you started is: Renovate!
Improving a property will easily move it into a different price-bracket and the expenditure this requires might very well be worth the investment. Here are a few steps to take:
- Have your property valued as is by a trusted Real Estate Agent.
- Ask how it could be improved and what price it could fetch on completion.
- Ask a builder for an approximate quote and the time it would take to make the changes.
- Asses if it is worthy.
- Leave the emotions out of it.
- Don’t turn the property into one that suits you.
- Aim to appeal to the widest market possible.
- Don’t go for cheap choices or cut corners, and above all
- Never overcapitalise on the renovation
Some people might say they can’t be bothered, yet placing any property on the market is a task that should not be taken lightly. The difference between a sale and a good sale can easily be in the range of tens, even hundreds of thousands of dollars. Its totally worthwhile being bothered don’t you think?