Should you renovate your investment property?
It's important to consider all factors when it comes to your investmentREAD MORE
"I want to sell my property," you say to yourself. Fantastic! Now look around, really look around, to see if there are things that need to be improved before the sale.
Fixing your property’s issues, no matter how small they may seem, can go a long way towards helping you achieve the price that you want when it finally goes on the market.
Repairs, or a lack there of, have great potential to influence a sale.
Savvy sellers can examine the cost of any improvements against the home's market value once any repairs have been done. Some improvements might not be needed if an upgrade won't increase upon return on investment.
Before you put in a skylight or a new set of sliding doors, understand that kitchen and bathroom improvements hold some of the best potential for increased returns.
Aesthetic changes and small modern improvements are an easy step to begin with.
From replacing cupboard handles to a new faucet and shower head, there are any number of improvements that can make you property more appealing to prospective buyers.
Weigh any potential costs that these improvements against the returns you may receive. This will help you make an informed decision in the end.
From there put together a list of anything that doesn’t work, is broken or worn out.
Buyers are generally very cautious. If they find anything defective, they might ponder what else in the home is in a similar bad state that they haven’t seen yet.
If you decide to conduct some repairs or improvements, starting small is a great first step. Some small things you can begin with are:
If you are looking for some more comprehensive but slightly larger scale improvements, consider replacing any stained or worn out carpeting. Fixing any broken appliances is also a good step as if they are broken or in poor working condition it can negatively influence your property’s selling price.
When it comes to fine cuisine, the first bite is taken with the eyes. The same can be said for real estate with prospective buyers.
If your property has an unappealing look to begin with, it is going to make it much harder to get people through the door to inspect it. With a lower inspection numbers can come fewer buyers come auction time.
Having a front façade that is well presented and tidy is a key step to creating an inviting look for your property.
Likewise, conducting some minor (or major depending on its state) gardening to neaten up its appearance is a step that should be taken.
Prospective buyers often like to picture what they can do with the space once they have purchased the property. With that in mind, leaving any garden space as open as possible is a potential move you can do to allow this to happen.
If your property is a house, having a professional examine the roof is a good step to take. By doing this, they can diagnose any issues and conduct repairs that will add value to your property.
When equipping your property for an inspection, it is key to find a balance for the right amount of furniture. Prospective buyers can often like having a relatively bare canvas.
This allows them to picture what it will look like to have their own possessions in the property. An emptier and decluttered property can also give the impression of being more spacious.
This is a much harder task when your property is full of your things.
When it comes to the interior of the property you want to sell, you could definitely consider going for an open and tidy appearance, with lots of space for easy movement between rooms.
Therefore, selling your property can be a convenient excuse to cull some of those unwanted things that you just haven’t had the heart to throw out.
Prospective buyers will certainly appreciate the clean and trim look of your property.
There can be many reasons as to why an investor or owner decides to sell their property. Whether they are looking to downsize their portfolio or planning to move, choosing an experienced and friendly sales team is key to your success.
If you’ve decided to sell, talk to the sales team at Little Real Estate today about a free market appraisal for your property.
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