Why Sell

In our experience, we have learned that the best price comes from the best preparation. As your real estate partner it is our intention — via this document — to help you maximise your price and to make the sale of your property an enjoyable and rewarding experience.

It’s important that we keep our eyes on the prize. The prize is securing the best possible price for your home. Your profit will be realised when we attract a cashed-up buyer, who will inspect the home on the surface then obtain a building and pest report that will influence the final dollar decision. With this understanding we have constructed this document in a way that clearly works to our final moment of truth.

So let’s get started with Maintaining & Preparing your home for profit.

 

Your home is your greatest asset In life and real estate it is often said that your principal place of residence is possibly your biggest asset. As a passionate industry professional I find this true for so many people in the community whom get the chance to represent. With this in mind it is important that as a property owner you do all you can to maintain the property throughout its lifetime to protect and grow your asset, so at the time of eventual sale

you receive the best possible cash profit from your investment. Your home could deliver you a tax-free windfall.

 

Selling your home is a valuable opportunity for wealth and profit. Unlike other financial

investments your principal place of residence is free from capital gains tax and stamp duty.

Therefore, a chance of a tax-free gain is rare and should be seized with both hands.

Selling is a one-off opportunity for cash. Selling your home presents a unique opportunity to make a chunk of money without you having to sweat for it. Typically every dollar your home sells over the perceived market value is worth two dollars of your hard-earned labour.

For example if you secure a price $10,000 over reserve – that saves you having to earn $20,000 pre-tax to have that $10,000 in your hand. If $50,000 is achieved over reserve, you would have to earn $100,000 pre-tax to have that $50,000 in your hand.

Secure the dollars you deserve for the property you own. You get only one chance to sell for

profit and then the value passes on to the next owner – so make the most of it!

 

Clean and sparkling homes sell well. If you do the work for a potential buyer and your property is clean, crisp, complete and:

  • is well maintained and freshly painted;
  • has manicured lawns and the gutters and downpipes are free from rust and holes;
  • has eaves that are spotless and fresh;

this could have a significant impact at sale time.

You could earn more than $60,000 to $100,000 over reserve. The magic happens when you take the hard work out of the equation. Everyone is so busy, potential buyers are prepared to pay for somebody else’s sweat and effort. Profit from that. A home that doesn’t require work is an attractive prospect. Maintaining and preparing your home for profit is a successful

strategy for everyone involved. Often incoming purchasers are stretched to their limit and would not qualify for a renovation loan. This is the reason why people will pay more for a finished, neat and well-maintained property.

 

A bank will loan on a property’s actual current value. A bank does not favour lending on unfinished or damaged properties. However, if the property has a clean bill of health, the new purchaser is effectively getting a renovation loan on a product with no risk. It’s

a win, win. Keep your eye on the prize. You want to create the best possible home to attract the best possible buyer for the best possible price.

 

 

When preparing their home for sale, some people redraw on the current loan to complete

repairs quickly. Other people take a longer-term approach. We suggest making a list and

spending the months ahead of time of a possible sale, project managing the repairs with

a slow and steady budget approach.

 

Buy a hard-cover note book and allow two pages per area and start making the to-do list of repairs.

  1. Front entry
  • Driveways & gardens
  • Bedrooms
  • Lounge
  • Kitchen
  • Bathrooms
  • Laundry
  • Decks
  • Pergolas
  • Verandahs
  • Garages
  • Pool

External

 

  1. Think like a purchaser

The golden rule of thumb is – if something needs to be repaired – fix it! Walk through and be

picky – try and see what a potential purchaser will see, not what you have overlooked for

years. Make a list of repairs and improvements that need to be made.

Buyers will mentally add up their perceived costs of repairing all those minor flaws and end up with an amount that is generally much higher than your actual costs will be. You may believe the repairs are insignificant, however the buyer may question the maintenance and upkeep of the rest of the property. Necessary, noncritical minor repairs and perceived owner neglect will either lower the price or lengthen the time to sell.

Look at the colour palette that you have used in your home. If you have used striking, bold

colours, it might be time to neutralise them. Your objective is to make your home appeal to

the largest possible segment of the market. Ask yourself, “How many prospective buyers would feel able to move into my home with their own furniture and not want to replace the carpet or repaint the walls?” Position your property on the market to be as liveable to as many people as possible. The market is always driven by buyer demand and the average buyer will have difficulty looking beyond bright carpeting and/or bold wallpapers.

 

  1. Repair or outsource

Make a decision on what repairs you can do and what jobs will be outsourced.

     

  1. Research

Before starting, get on the web and research the latest products that can save you time and money (profit). For example there is great tile paint for old tiles, amazing products are now available.

     

  1. Look at DIY

Visit Bunnings or Masters and investigate what ‘do it yourself’ products are available you. You will be amazed how the renovation systems have improved to ready-to-install kits.

 

  1. Do one room at a time

Start your list by committing to the discipline of doing one room at a time. This avoids turning

the house into an unlivable war zone.

 

 

 

 

  1. Declutter

As you are working through your rooms, it is imperative you also sort through your stuff.

Decluttering a home can also be a life-cleansing process. Box up the valuables and hire

a skip for the end of the road items. Be ruthless, space is everything, a home shines when

it can actually breathe.

 

  1. Complete general maintenance

Stay on top of your regular home maintenance tasks to avoid costly repairs in the future.

Spending time now saves you hassles later. Ensure that minor repairs don’t turn into major

expenses.

 

Outside

  • The front of your house should be beyond reproach. It’s one of the first things a buyer sees. Sweep and wash the driveway and walkways to remove debris, dirt and stains. Remove any oil stains if possible. Repair and patch any cracks
  • Check your fence for any loose or broken posts and replace any rotted wood
  • Check gutters for leaks or damage and remove debris
  • Lawn care: mow high and often. Feed the lawn with fertiliser, treat weeds, and aerate the lawn in high traffic areas
  • Trim your plants back with secateurs
  • Clean out your irrigation system twice a year to ensure your plants get the best quality water and at the same time remove material that can settle in the lines and block the filters. (Unscrew the drip or spray outlets, flush the line, then clean the filter.)
  • Promptly pull out weeds or spray with specialised weed killer as soon as they appear and before they set seed
  • Mulch garden beds to prevent soil drying out too quickly and hinder weed growth
  • Inspect exterior paint and touch up as needed
  • Clean and seal decks if needed
  • Cut back overhanging trees from the roofline
  • Repair/replace any damaged window screen mesh
  • Inspect walls and ceilings for cracks, leaks, mildew or water stains
  • Inspect roof for damage
  • Winterise the pool
  • Reseal concrete areas to prevent cracking and deterioration

 

Inside

  • Check smoke detectors
  • Clean and disinfect the dishwasher by operating it when it’s empty and putting bicarbonate soda in the detergent tray and vinegar in the rinse holder
  • Vacuum refrigerator coils
  • Empty fridge waste container
  • Check doors and windows for cracked seals and peeling paint. Repair as needed
  • Dust/vacuum the tops of cupboards
  • Move furniture that you don¹t normally move and vacuum thoroughly
  • Inspect bathroom and kitchen tiles and sinks and reseal where needed
  • Clean curtains and blinds
  • Soften potentially offending views, but always let light into your rooms. Consider replacing heavy curtains with something lighter
  • Wash all of the windows
  • Clean light fittings and skylights and if your kitchen has fluorescent lighting fixtures, use ‘warm-white’ bulbs for a bright appearance
  • Clean kitchen exhaust hood and filter
  • Clean sliding door and window tracks
  • Clean debris from ceiling fan blades and air conditioners fan blades before using
  • Check taps and supply lines of plumbing for signs of leakage
  • Test the pressure relief value on your hot water system to ensure it hasn’t seized up
  • Repair loose knobs, latches or handles on doors
  • Make storage areas appear generous and well-planned. Remove and store all out-of-season clothing
  • Remove any items from the floor area – this will make a wardrobe seem more spacious
  • Hang an air freshener in the wardrobe for a pleasant fragrance ensuring wardrobe interiors smell fresh and clean
  • Ensure all wardrobe lights are in working order
  • Add battery lights to wardrobes that lack built-in lighting, as illuminated wardrobes appear bigger and more attractive

 

Make a preemptive strike and pay for a building and pest inspection!

These days most people will get a building and pest inspection before they purchase

a property. Many owners assume they are only relevant to purchasers who generally

have them conducted as part of the pre-exchange process. However, having your home inspected for structural and termite damage can be highly advantageous.

Why?

It gives you control over the selling and negotiation process. If no issues are found, you will

have peace of mind knowing the purchaser won¹t be able to use any problems as a means

to negotiate the price down. And if an issue is found, you can take action to resolve it before

your home is listed for sale……….

Forewarned is forearmed

Even though your property may appear to be structurally sound and there is no visible

indication that termites, subsidence or mould is present, there could be hidden problems

lurking in the foundations, roof, plumbing or walls that only a professional can identify.

Many people are worried that building and pest inspectors may uncover some terrible truths

about their property. For many, this concern stops them from having an inspection. But is that logical? If something is wrong with your property wouldn’t it be better to know before you put the house on the market? Being forewarned is forearmed and puts the power in your hands. Being aware of any issues with your property allows you to take control and have them fixed and doesn’t erode your position when you put your house on the market.

A building and pest inspection report empowers you. While many buyers will still insist on having their own pre-purchase building and pest inspections conducted, showing them the reports you have had prepared shows them you have nothing to hide about the condition of your property and gives them less ammunition to negotiate.

At the end of the day, building and pest inspections aren’t deal breakers. And it’s what we find out right now before the investment of marketing and Inspections and agent’s performance fees that will protect your sale price and final profit. The report will cost less than $1000 yet could be the vital knowledge in a negotiation that saves your sale and protects your profits.

 

Price Update

Once you have completed your property maintenance program it’s a perfect time for us as

your agent to reassess the market place and the recent sales around you that have affected

pricing. We would go right back through the property and take into account all repairs and

improvements and re-establish your new to marketing price. Once your house is looking spit

spot, it could be a good time to consider getting the photos done so we can store them for

marketing and start to prepare the selling list and best features of your property.

Together as a team we will capture every little delightful detail and list them in our property

specification pages of our detailed property booklet.

 

When it comes time to market a property, there are no shortcuts to a great price.

A lot of preparation has to be undertaken, therefore, to make sure your property hooks and

pulls a potential buyer in. When a buyer sees your property online or in person, she or he must think, “that’s the one”.