It is a difficult time to sell a property across major cities in Australia. Houses are staying on the market longer, and price rates are softening. According to many real estate agents, the key to selling is meeting the market price.
However, research has shown that while the right price matters, many other factors also come into play. Whether you are selling in a buyer or a seller’s market, the basics do not change. Here are some simple steps in selling your house faster:
Choose the right time to put your property up for sale
The old-age adage, “Timing is everything,” applies even to the sale of properties. Typically, spring is the top pick season to sell. Many families prefer to move before the school year starts and when the weather is nice, making for comfortable home viewings and moving in.
But an academic study from the University of South Australia found that spring is no longer the best bet. There may be an increase in the number of listings in spring, but there is no corresponding increase in the number of sales. In addition, selling your property in a season where more homes are on the market means more competition and more pressure for you to drive down your selling price.
Somewhat surprisingly, the best time to sell is during the autumn window. Capitalize on the summer season to prepare the house for sale. During the holidays, families who are thinking about purchasing a house will have more time to research and transition into serious buyers come autumn. By then, your property should be in peak condition for a sale. March registered as the top season with the most number of houses sold. This is according to a survey by the Housing Industry Australia.
Make small improvements to your house
Instead of going overboard on major remodeling, focus on small upgrades that can make your house look better on an open day. Invest in home improvements with the highest return on investment. According to the 2019 Cost vs. Value Report from Remodeling Magazine, a deck or patio addition is still on top of the list for best home renovations. Having a wooden deck is an extra enhancement that can hold more than 75% of its value come sale time. A kitchen remodel is another upgrade that has made it back to the list, offering homeowners a chance to recoup a little over 80% of the cost.
Some repairs are less about return on investment but more about giving the property a chance to sell at a reasonable price. For instance, a concrete driveway is one of the first things a buyer is going to see in a property. A damaged driveway automatically ages a home and may cause a property to take longer to sell. However, this does not mean that you have to pay for an expensive replacement. You can simply repair a driveway. Concrete companies use concrete patch repair products that can fill in any cracks.
Stage your house
Home staging, more commonly known in Australia as real estate styling, is basically cleaning and rearranging the furniture to make a house look like a showroom. It is a fairly new concept in Australia. But in the country’s competitive real estate market, staging can set a house apart.
The best time to sell a property is within the first few weeks of putting it on the market. After a certain time, buyers’ interests may begin to wane. By following the guidelines above, you should be able to close a sale in no time.
