Spring has arrived which means it’s the optimal time for selling property. But do you know how to get the best price for your house? Check out our handy tips to learn how to get the best price for your property if you’re putting it on the market.
How To Get The Best Price For Your Property
1. Find a quality agent
A major reason to get a quality agent is to help you set the right asking price. As well as this they can provide sales data, demographics for your area and invaluable local knowledge on what buyers are looking for. The more information you have to hand, the easier it will be to ask the right price for your house.
2. Identify what can decrease value
Before you can start looking at ways to add value to your property it’s helpful to identify what might decrease its value and if they can be rectified. Things like location and house size can’t be fixed but other things, such as replacing stained carpet or worn kitchen lino, may be quick fixes that can increase the property’s perceived value for a potential buyer.
3. Highlight your property's good points
Says Peter Boehm, in Property Update, “You can create a great deal of value out of small and relatively inexpensive renovations or upgrades to your property.”
This is important advice for vendors keen to get the most money they can out of their house sale. It means putting in some time, energy and, in some cases, coughing up a bit of cash to get your property looking fabulous, but property experts agree it’s well worth it.
4. Consider a spruce up
This is the bare minimum that a seller should look at doing to attract buyers. Decluttering, depersonalising, deep cleaning, fixing what’s broken, mowing the lawn etc. are small tweaks that could add thousands to your property’s price tag.
Consider hiring a professional cleaner to get your house or apartment absolutely spotless, says Morton Real Estate agent Etienne West who advises all his vendors to do this. “They’ll remove all the marks on walls, wipe inside the cupboards and drawers – you often see buyers opening them to check – and make sure it looks as fresh as possible.”
Decent storage is often top of the list for buyers, especially apartment hunters. A trick is to clear out half of your stuff to make your cupboards look larger and more roomy. Make sure storage is a key feature mentioned in your marketing material.
5. Mini makeover
If budget allows then throwing a bit of cash at your house or apartment could reap you rewards come sale time. A fresh coat of paint to tired walls, replacing old cupboard handles with modern ones, replacing worn carpet or lino, regrouting tiles and buying cheap accessories, can all make your home infinitely more appealing to a range of buyers. The more interest you can generate in your property, the higher it will sell for.
Investing in a home stylist can also be an excellent way to turn ‘just looking’ viewers into potential buyers. There are plenty of ideas online for DIY home staging but if you don’t feel confident about doing this or want ‘fresh eyes’, then call in a professional. Expert stylists may cost you in the vicinity of $2,000 to $8,000 depending on who you use and how many rooms you have, but many people think it’s well worth it for the value it adds.
House or apartment owners with balconies can also add more value by sprucing up this important outdoor space. This area should be clean and tidy at the very least but you could also consider transforming it into an outdoor oasis on the cheap to showcase it as an extra living space.
As general rule of thumb, you’ll get the best price for your house if the lounge/living spaces and master bedroom look appealing, other less appealing areas of the house are more likely to be forgiven if these are right.
6. Major renovation
While spending thousands of dollars to renovate your home before sale isn’t necessary, focusing on updating key areas can be worthwhile if you have the money. Remodelling your kitchen and/or bathroom will give you the most bang for your buck. Landscaping and outdoor entertainment spaces can also add more value to a property, as much as nearly 13%, so this is definitely an area to think about sinking your renovation budget into.
Our renovation budget tool is a great way to get advice from our team about what to renovate in your home, be sure to check it out. For more helpful tips for selling your house, sign up to our monthly newsletter below!