5 Ways to Boost Property Value
Should you be considering about selling your investment at some point in time, preparation is key. For many homeowners and investors, this includes grabbing a set of tools from the shed and getting your hands dirty. For others, it just means calling a tradie.
Selling your investment in a very competitive real estate market can be boosted by having a good condition, fully functional, aesthetically attractive place. Unless you are happy to sell as it is, you may not get exactly top value for your property. When potential buyers are viewing several properties in your neighbourhood, you’ll want yours to have the WOW factor or be the one that stands out for the right reasons.
The following are ten really good ideas you can start preparing yourself for so you can get the maximum value and chance for selling your property in a reasonably short space of time.
You will need to seriously think about whether you sell your property vacant or tenanted. If your property is an investment, chances are that you will have tenants in there. Of course if you can time the sale such that the tenants move out and then you sell the property, you will need to know the implications of selling your property. Best to talk to your real estate agent about this.
Unless the tenants are incredibly accommodating, have really nice taste in furnishings and is tidy, it’s always best to sell the place vacant. If this does not work in with your budget, then you may want to give an incentive to your tenants, so they cooperate in the selling process.
Should you be living in your own place and wanting to sell, it may not be realistic for you to move out and vacate the place before you sell. The best thing to do is to tidy up the place, put away clutter and really clean your place to make the best impression. Some owner actually rent really nice furnishings to create the WOW factor. If you can vacate your place, you stand a better chance of selling efficiently and get the price you want. A vacant place helps buyers imagine what the place would look like with their furniture.
The first thing that a potential buyer will see is the exterior of your property, so it’s worth making sure that your home looks its best outside and in. Properties that appear uncared for, untidy, dirty, worm may turn buyers off very quickly. Always put yourself in the buyers shoes.
The aim here is to create a property that looks spacious, fresh, modern and more appealing. We found that white or bright colours the best colours for internal walls as it brightens the place up and creates space. We tend to get better results when the rooms, living areas look spacious and bright.
In addition to giving your property an internal paint job, you must also examine the exterior for signs of damage. Walls made of weatherboard may have panels that need replacing or touching up. Brick homes may need to have small gaps filled in with fresh mortar and rendered walls can do with fresh concrete to fill in gaps. These small improvements will make a property look like much better without the need for major renovation. Remember FIRST impression make a LASTING impression.
White you are at it, it may be best to change your old lighting to newer, brighter energy efficient ones. Lighting is paramount as it could significantly brighten your place.
Flooring can be one of the first things that buyers look at upon entering a property. Once again FIRST impression makes a LASTING impression. People expect their homes’ floors to be clean and sturdy. Old, musty carpeting will definitely not do your home any favours. Although hardwood floors are more popular and easy to care for, a high quality carpet can also be quite attractive and create a warm atmosphere. You may want to do a steam clean before the open homes to give it a fresh and clean outlook. Sometimes, it may be worth paying a professional to clean the carpets, tiles, laminate or hardwoord floors for you. Your hardwood floors may need a new coat of polish to give it a new look.
The kitchen and bathroom is one of the most important and appealing areas of any home. Buyers put a lot of emphasis on the quality of the kitchen and bathroom. We have found that property that fetch a great price have installed very practical, modern and well designed kitchens and bathrooms. If budget permits, you may want to consider upgrading your bathroom and or kitchen..