There is probably nothing more overwhelming than preparing your house for sale, especially if it’s your first time to embark on the process. Before jumping off the proverbial cliff, however, there are a few essential considerations to take on board that will act as the ultimate safety net to help you make the most out of your property’s value. In turn, it will ensure that you receive the best possible return on your property. Here, we’ve put together a guide on what you should do before you sell your home.
Understand the Property Market before you dive in
By understanding the property market, you’ll be able to safely gauge if it is actually the right time to sell your home. Timing is everything when you’re selling a home, so keeping up to date with buy/sell trends can make a big impact.
This means, keeping note of the average time properties are on the market before being sold – what time of year is more popular on average for this to occur? Does this affect the average sale prices? How can this affect you? These are important factors to consider as the timing of your choice could mean huge benefits or a disappointing loss.
Other factors that can influence the listing price of your property will include external variables such as interest rates, government incentives, and the stability of the economy. These are factors that can drive property prices up or down depending on the amount of buyer interest is around. If you’ve realized that house prices are decreasing, or local sales are not where they should be based on your research then it might be a good time to take a step back and rethink if this is the best decision to take the leap.
Repair & Update
Minor repairs and updates give off a strong impression without too much effort. If you are selling, it’s best to complete those repairs that you may have been holding off on making. More often than not, these small adjustments and changes end up being the key selling points for any home, so any achievable preparation that you can do to drive up the interest from potential buyers is worthwhile.
With that being said, however, it is important to avoid funneling too much money and overcapitalizing – you may run the risk of not being able to make a return on your investment when you sell the property. In saying this, there a few key things that you could do to make a lasting impact, without too much fuss:
- Deciding to repaint the interior walls and the exterior
- Investing in new doors and make sure all windows are clean and intact
- Make sure the landscaping is clean and tidy and ensuring that all lighting is installed and in working order
- Ensuring that all flooring and carpets are given a deep clean
- Upgrading kitchen taps, cupboards, and countertops if needed
- Make sure any plumbing issues are resolved, including sinks, toilets, and tile grout as well as thoroughly cleaning the bathroom before all inspections
- Make sure that all internal lighting fixtures are in working order
- Ensure that the roof and the property foundations are without issues or problems
- Giving your home a thorough deep clean
Make your Spaceless about you and more about the buyer
If your home is more about you than it is the buyer, then it won’t do you any favors. When buyers walk through the property, it’s important for them to imagine themselves living there. Removing any kind of personalization throughout the home will make it easier for buyers to see the space as a blank canvas rather than walking through someone else’s home. This means removing family photos, any niched memorabilia, and keeping all personalized possessions hidden from plain sight.
It’s also a good idea to make sure your home is spotless before any and all inspections – this means no toys, no pet hair and no items mistakenly lying around.
Value Your Home
Before selling your home, it’s highly recommended to seek out how much it’s worth in its current market value. There are three common methods in order to accomplish this:
- The automated Price Estimate: These are completed by using information about the property size, features and fixtures, location, and any comparable sales in the local market. This information is usually gathered by government bodies, council data, previous listing prices, and any other available information
- A Valuation: A professional valuation is completed by a registered valuer who will usually inspect the home and provides a comprehensive report based on gathered information and any noteworthy observations on site. These reports are required to meet strict guidelines and standards as set out by industry benchmarks. This might mean market conditions, council zoning, and the condition of the building – a lot of evidence is gathered throughout this process and valuation reports are very detailed, especially if you seek out a well-established company. This is to account for any legal or government requirements that you may require.
- Seek out an Appraisal: An appraisal is commonly completed by a real estate agent to distinguish an anticipated price that they think the property will sell for. An appraisal is usually based on local comparable sales in the area that have occurred recently and any other features that may increase the demand for the home.
Find the right Real Estate agent
Seeking out the right real estate agent can make a big impact on your property. Your home is not only your biggest asset but can also hold a huge amount of sentimentality as well, so it’s important to seek someone out that you can trust. The key to find the right real estate agent for you is to complete some research to find a qualified professional who will look out for what’s best for you.
This might mean having some experience in the local area, is well reputable, and has a solid backlog of properties that have been sold in a reasonable time frame. If you feel comfortable that they understand your needs, requirements, and concerns then it will make all the difference in the world.
It’s essential to be prepared for the long and sometimes tedious task of selling your property. For a maximum return, these simple tricks will give you the best opportunity to make the most out of your home and its value.