When thinking about selling, many of us fantasise of an unlimited renovation budget that will make our home irresistible.
When it comes to preparation, Olympic athletes leave no stone unturned.
Because the competition is so intense, preparing for the Olympics becomes life and death, with endless months of training, and unyielding focus. Preparing for a game of soccer down the beach with some friends – not so much.
The same principle applies when preparing your property for sale and deciding what to repair, and what not to. Where do you draw the line? What do you fix and what do you leave? (In this article we look exclusively at the interior of your property).
Much depends on the competition. If the competition is intense, then preparation is all important.
If the market in your area is super-hot, and houses are selling at Usain Bolt speed, it shows that buyers are attracted to the area rather than the finer details.
In such a sellers’ market, it is possible only minor, essential repairs need to be made. Undertaking costlier repairs or renovations are likely to have little or no effect on the inevitability of sale or price, and represent an unnecessary cost.
The other major factor in deciding what to repair is how urgently you want to sell.
If you want to sell your house “yesterday”, then you need to remove every barrier that could potentially short-circuit a sale. For example, some buyers will pull out of a sale because of a seemingly insignificant fault, like a door knob that falls off in their hand.
If in doubt, seek advice from your Harcourts Sales Consultant.
There is a distinctive difference between repairs and renovations, with repairs being regarded as restoring something back to its original condition, while renovations are improvements or upgrades.
So what are the repairs to consider before selling a property?
Curtains and window furnishings
Floors and ceilings
When considering what to repair, put yourself in the shoes of the potential buyer and work out what would cause you to have second thoughts about buying, and for peace of mind, repair whatever is a potential deal-breaker.
The decision to sell is made, but how do you ensure potential buyers know your house could be their dream home? Here are five top marketing tools to help you get the best possible result for your sale.
Home buyers rely less on newspapers and open houses, and more on online resources, in order to obtain valuable home buying information, which they require in order to go about purchasing a home. Consider how to get the most online exposure, and include plenty of details so potential buyers can put serious thought in. Your real estate agent can run through the sites that will give the best bang for your buck and advise on how best to describe your property.
Kitchens are widely touted as a room of a house that can add value when it comes to selling your property. But not all kitchens are created equal. What can you do to yours to catch a potential buyer’s eye and persuade them to make a good offer?
As with any pre-sale renovation or spruce up, keep a tight rein on budget. Talk to your agent about what your asking price should be before and after a kitchen makeover. Then set your budget at a portion of that difference that you’re comfortable with. You don’t want any makeover plan to eat too far into that financial gain or there is no point at all in doing it. Your agent will also be able to give you a good idea of some quick changes to your kitchen that may help. You may find very little financial outlay can make a huge difference; avoiding anything that involves changes to plumbing and electrical wiring is another way to keep costs down.
Here are a few ideas:
Freshen up cabinetry, and walls with a coat of paint and new cupboard or drawer handles. Chat with paint retailers for advice on trending colors. As a rule, if you want to create the illusion of a bright, airy, spacious kitchen opt for light neutrals. You also want to keep the palette fairly neutral so potential buyers feel they can stamp their own personality on it. Don’t get too hung up on decorating to your own personal taste.
Decluttering and cleaning is another cost-effective way to spruce up a kitchen. Keep open shelves, cupboards, and pantries looking orderly and functional instead of crammed full of your own belongings. Make sure all surfaces are clean and unmarked. If benchtops are looking old and marked, consider replacing them if you can afford it. There are a huge range of different options available these days for benches, in a range of prices. You don’t have to choose the most expensive. A new, unmarked cheaper option will still be better than older, stained or chipped surfaces.
The same is true for flooring and wall tiles. If you can, replace or at least repair old, stained, worn flooring or cracked tiles, and make sure tile grouting is looking clean and fresh.
Look up. Don’t forget about ceilings and lighting. Kitchens should be well lit to be at their most functional – but good lighting can also make them seem bigger and brighter. Don’t forget to at least clean the ceilings, or preferably paint them.
Think about flow. Can the way you move around the kitchen be improved by shifting the dishwasher, fridge or oven? Do doors clash? Is the fridge in the wrong place? If there’s something about the way you use your kitchen that has always irritated you, it may well irritate buyers as well. If you can change it within your budget, it is worth doing.
Sinks are not as sexy as some kitchen essentials to replace but can make a big difference. A good size sink makes a big difference to kitchen functionality – particularly if you currently have an older kitchen which often have small sinks. Tapware should also be well-maintained and clean.
Replacing ovens should probably be a last resort, simply because of the cost. A cutting edge new oven in an old, tired kitchen will be far less likely to add value than an older oven in a sleek, tidy, light kitchen.
Before you start make sure you know exactly what you want to do to your kitchen and why, and stick to it. It’s very easy for a kitchen makeover to turn into a personal project – a chance for you to do add all the things you’ve ever wanted in a kitchen and suddenly you find your budget is blown. Thinking about what you’d like in a kitchen is a good place to start, but don’t fall into the trap of making it too personal to you. Thinking about big picture, general improvements such as space, storage, functionality and whether the design matches the rest of the home. Make your plan around achieving these as cost effectively as possible and stick to it.