REAL ESTATE is the only investment that allows us to directly influence its value.
What else can we own that is essential to our needs and yet has the very real potential to increase in value over time?
[blockquote]”Property is also one of those rare things that has no recommended retail price”[/blockquote]
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Similar homes located almost side by side can sell within weeks of each other at completely different prices. Why? Because one seller followed a proven formula and strategy that enhanced the property’s perceived value while the other seller made no effort, sold for less and was on the market longer.
“Location, location, location” is the well-known catch-cry when it comes to looking for a new home.
But for those planning to sell, there’s another rule that it can pay to remember and that’s “detail, detail, detail”.
Careful planning and a just a little investment in sprucing up your home can deliver real financial results.
You and your agent need to look at your home very objectively as you plan to put it on the market.
The décor, layout and furnishings may have suited your lifestyle perfectly over the years, but a range of people will be coming through to inspect it and you need to see it from their point of view. There are dozens of things that will add up to give a potential buyer an overall impression of your home and it is important this impression is as positive as possible.
Here is the number one thing to remember when you place your property on the market:
[blockquote]”The enemy is any other property for sale within your area and price range”[/blockquote]
Make sure all your preparation is focused on having your property compete as well is possible.
The value of property has always been determined by what a buyer is willing to pay in today’s market after comparing your property to others currently for sale in the market and recently sold properties.
When it comes to preparing your home for sale painting is a big job but it makes a big difference in how the buyers will see it.
Renovating bathrooms and kitchens can be even bigger and more expensive jobs if you let them get away from you.
There are some great renovation products available, if the kitchen layout is good and the appliances are fairly new you can re-skin and install new tops at a reasonable cost and bathrooms can sometimes be just a matter of a new vanity, clear glass in the shower and resurfacing the tiles.
Because we are dealing with something that has no recommended retail price there is no formula for what your presale investment will return when you sell.
But there is something far more important at stake here that many property owners property sellers don’t fully realise:
[blockquote]”you only get one shot at hitting the market correctly”[/blockquote]
Results prove time and again a well presented property will attract more buyer interest, buyer inspections and in all likelihood, a better contract price than the home that is not well presented.