Preparing your home for sale to increase its value

Preparing your home for sale to increase its value

posted in: Selling advice | 0

In almost all cases, it pays to spend a bit of money on your property before you list it for sale. Although every home is different, there are certain aspects that are always ripe for improvement and can increase your sale value immensely.

Before I put any home on the market, I carry out a comprehensive check on the property and try to see things from a buyer’s perspective. Then, depending on the type of sale, I provide recommendations on the best way to invest money to improve the property before listing.

That advice can be very different from one home to the next. For instance I sell many different types of properties, from a family home to a property that’s likely to be bought as a splitter block. The advice for preparing each of these properties is going to be very different. One looking at home improvements and the latter looking at council approvals – so there’s no one size fits all template for everyone selling their home.

Giving a strong first impression

From my experience in real estate, stretching back more than a quarter of a century, I have found that a large proportion of property buyers make up their minds about a property very early in the marketing campaign.

So, a positive first impression goes a long way when showing someone round your home. It’s important to frame their tour of the home with the positive aspects of the property, it’s locality and the lifestyle or investment opportunity it will afford. Buyers will then start to imagine living in that space.

One of the most important things to consider is what a potential buyer sees when they come to your property. While you may be used to seeing the peeling paint on the fence, the cracked paving tiles or the wobbly front gate, these can be a huge turn off for someone who hasn’t been to your property before.

Maintenance breeds confidence

Even if it’s just minor things that aren’t quite right, it can have a big effect. They may only be minor issues to you, things that you’ve maybe lived with for years, but for others they’re a sign that the property hasn’t been maintained and treated with care – and is possibly an indication that there are bigger problems afoot.

What are often minor improvements – both in terms of time and money – such as fixing a leaking tap or adding colourful flowers to a garden bed can become worthwhile investments.

Not all investments are equal

One of the biggest reasons home sellers are advised to speak to a real estate agent early in the process is so that we can guide them with the types of renovations and changes they should make. Each property is different and what works for one doesn’t always work for another.

Owners who do their own renovations first often spend too much on the wrong things. While putting in a new kitchen or bathroom might pay dividends on some homes, for properties that are likely to be rented it may not be a good investment. Often home buyers are looking for their own renovation project too, and your taste may not be to their liking.

With each property I list, I work closely with the owners to prepare the property for sale to maximise its earning potential. During my 25 years in real estate, I have seen a strong cause and effect relationship with certain improvements. Based on this, I’ll create an individual report on your home to show you the areas that I would suggest investing in before we put the property on the market.

Depending on your budget, you may or may not be able to carry out all the improvements, but I can point out the areas that are most important to work on and the spots that will bring in the most extra value in the eyes of current home buyers when we speak.

If you’re thinking of selling and would like expert advice about preparing your property for sale, please call me on 0418 886 410 or email sales@regstrow.com.au.