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As an investor or home owner, it’s only natural that when it comes time to sell, you are going to strive to achieve the highest sale price possible.
There is no shortage of inspiration out there from TV shows like “The Block” to “House Rules” through to the myriad of online forums that can show you ways to maximise your sale price. But it all comes at a cost, and after working on over 1,000 separate property purchases, I’ve seen my fair share of over-capitalisation.
Below, I’ve outlined the top seven cost-effective and time-effective ways to maximise your returns without breaking the bank:
First impressions count, and this is the first part of your property the potential purchasers will see. It won’t cost you too much (just a bit of sweat equity), but it could be the difference between selling your property quickly and enduring months of stress.
It always baffles me, but, incredibly, most people won’t realise that you have just painted your property to make it look fresh and new.
The key is to stick to neutral colours. Don’t get carried away with “trendy” tones or feature walls. Make sure you are appealing to the masses and don’t polarise with any colour choices.
Create open and uncluttered living spaces where possible, and let your prospective buyers use their imagination.
Kitchens sell homes, full stop; it is often the hub of family life.
Make it warm and inviting, and it could secure you your asking price on its own. A few minor changes to your kitchen surfaces, cupboards and taps and you can bring your kitchen into the modern era.
Most prospective buyers can look past a slightly older bathroom, but very few will forgive a dirty one. Spend some time attending to small repairs, but more importantly, make sure everything is clean.
If you can stretch your budget, replace the toilet or sink and, possibly, re-grout your tiled areas and replace handles.
Make your home as attractive as possible to as many buyers as possible. Think first home buyers, upsizers, downsizers. Ask your local agent who is the most likely buyer and style the property accordingly.
Create a home that can be moved into immediately without any major renovation – decoration or repair could give your property the edge over others in your area. Imagine what you want from your next property, and try to replicate it to entice buyers with limited budgets.
Finding the perfect real estate agent in your area is the most critical aspect to achieving a strong sales price.
Trust me; as a buyer’s agent, I’m looking to find the “not so good” agents to work with as they are typically the ones with no results, minimal local knowledge and small databases of potential buyers.
Be prepared to pay a little more. As the saying goes, “You get what you pay for”.
As the adage goes, “Perception is reality”, and ensuring that you remove as many “I’m not so sure” thoughts and emotions from potential buyers will ensure that you maximise the attention your property receives and ultimately boost your ability to achieve the maximum price.
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.