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In an active seller’s market, how can home owners make their properties shine and ultimately maximise profits?
New research from Westpac found that seller confidence has been rebounding as buyer demand continues to rise across Australia, with one in three home owners intending to sell their property in the next five years.
According to Westpac’s managing director of mortgages, Anthony Hughes, the big shift in property aspirations, which involve seeking bigger space and outdoor amenities, not only fuels buyer demand but also motivates “more Australians to think about selling their current property so they can purchase a new home to better meet their future needs”.
With more sellers expected to come onto the market over the next few months, Westpac shared five top tips for preparing a home for sale:
1. Increase curb appeal
A property appealing to the eye can help generate further interest. Simple measures like cleaning the front porch, adding some striking pot plants, or giving the front door a fresh coat of paint can help increase your curb appeal.
Removing everyday items can help provide clean and spacious areas that prospective buyers can envision living in. Consider removing personal items like family photos during inspections to help the buyer mentally ‘move in’.
3. Make the kitchen and bathroom shine
Minor repairs or cosmetic changes can help transform a space into an inviting, modern living area. Painting old cabinets, updating doorknobs or cupboard handles and adding fresh towels, candles or flowers can help freshen up your kitchen or bathroom.
4. Increase natural light
Natural light can help make the home feel bright and spacious. Make sure to open all your curtains and blinds, wash your windows and prune back any plants that might block out the light ahead of any inspections.
5. Improve outdoor areas
Outdoor living is popular for many Australians. Sprucing up your outdoor areas by mending fences, weeding the garden and adding a couple of extra plants can help entice prospective buyers.