If selling your property was an exam, scoring 100 per cent would bring the reward of less stress and more money. Here’s a cheat sheet of mistakes to avoid in order to pass your exam with flying colours!
1. Don’t Wrongly Price Your Property
Over-pricing or under-pricing is a common mistake that occurs when property owners fail to do sufficient research about what buyers are looking for and what they are expecting to pay. Look at comparable sales in your area and use this data when you are discussing prices with your real estate agent.
2. Not tidy up
Mess, dirt and clutter turns buyers off because it makes it harder for them to envisage themselves living in the property. Remove junk, personal items and family photos off countertops, shelves and walls.
3. Don’t Spend too much on renovations
While a coat of paint or re-carpeting can help improve the value of your property, it’s never a good idea to spend considerable money on a major renovation that you may never get a return on.
Ways you can improve the presentation of your property without spending a lot of money include de-cluttering, cleaning windows, re-grouting bathroom tiles, adding plants to an outdoor space, fitting a new benchtop or splashback in the kitchen, installing new taps or a decorative light fitting in the bathroom.
4. Don’t Hide problems
When you cover up a problem rather than fix it, the risk is that when the buyer finds out, they will quickly become suspicious about other problems the house might have. Your best strategy is to either repair problems properly or declare them outright.
5. Don’t Sell your home empty
Homes devoid of furniture often look smaller and less appealing. It’s hard for potential buyers to imagine themselves living in an empty home or their furniture fitting into the space.
Professionally styling your home for sale (also known as property staging) is a great option to consider, with anecdotal evidence suggesting it can help sell your property faster and for a better price.
6. Don’t Get emotionally involved
Thinking with your heart, not your head, can often lead to hasty decisions when selling. It is important to detach yourself emotionally and start viewing your home as though you were a potential buyer. Choose an experienced and reputable real estate agent and be prepared to take their advice on board and allow them to lead negotiations with potential buyers.
Contact us to find out what lending options exist to help guide your way through the process of buying and selling.
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