It is widely acknowledged, and history demonstrates that spring is generally the busiest selling time; owners considering selling often wait until spring to sell their home. Whilst this may be true, there are also advantages to selling in quieter periods, such as autumn and winter, as there is generally less stock available for buyers to choose from. If you are considering in spring, NOW is the time you should be preparing your property for sale.
Regardless of when you decide to sell, there are some key improvements that will add value and enhance appeal to buyers, whilst being careful not to overcapitalise. The deciding factor should be the return on investment, or ROI. The cost of improving your house before selling needs to result in a sale price that is higher than what you put in, but this can be very tricky to gauge. A good real estate agent will be able to help you go through these different levels of investment, to determine what will be most effective in your particular situation. It helps to have an agent on your side who is well versed with your local competition and the state of the market in general. If you are going to spend money on your home, it’s vital to ensure that this money is going to be put to good use and result in a higher profit at the point of sale.
If your budget is relatively small, the key for high-return versus small outlay, is to look at cost-effective improvements such as a fresh coat of paint, house washing/cladding, polishing floorboards or laying new carpets. You will not be overcapitalising by undertaking these basic but very effective improvements.
Another emerging trend that generally makes a significant impact is – styling your home, i.e. staging the interior. Looks matter; first impressions make an emotional connection that is very powerful. Property styling is about enhancing appeal and creating a point of difference. There is compelling evidence that it can add significant dollar value, as well as minimise price reductions in the market.
People are buying a lifestyle, not just a house; they have to be able to visualise living there. The top three most impressionable areas on a buyer are the street view, the kitchen, and the bathroom(s).
Talk to us today about cost-effective ways you can make your house more appealing to buyers in an effort to extract the highest price, keeping in mind return on investment.