You are going to profit from the wealth of information we are going to share with you in this document.
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.
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.
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 we 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.
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. Therefore, a chance of a tax-free gain is rare and should be seized with both hands.
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 for 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!
If you do the work for a potential buyer and your property is clean, crisp, complete and:
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.
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.
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.
Steps to plan:
Buy a hard-cover note book and allow two pages per area and start making the to-do list of repairs
Think like a purchaser
Take photos of the repairs and stick them in your book
Dedicate four pages to your trades service directory
Walk through again
Type up a to-do list
Invite all the trades needed to quote on the repairs. Contact us at Bellarine Property on 5254 3100 to allow us to refer great tradespeople to help you.
Repair or outsource
Research
Look at DIY
Do one room at a time
Declutter, declutter, declutter
Complete general maintenance
Outside
Inside
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 tip top, 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.
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".
Photographs of your property are one of the main ways to draw in a buyer. They matter because they are the first point of contact that a buyer has with your property. Therefore, it is essential that you present your property in the best possible way. Excellent presentation and high-quality photographs seduce a buyer into a home.
Photography and presentation go hand-in-hand. If you're preparing a property for photos, that's exactly the way it should appear for each and every open home, for each and every buyer inspection, and throughout the marketing campaign.
Steps to prepare:
Declutter, declutter, declutter, clean, clean, clean
Think about who you are appealing to
Think about your buyer and the atmosphere you're trying to create. The front of the home must create a strong first impression;
Present the home to suit the purchaser
Kitchen
Lounge room
Bathroom
Bedrooms
Entertainment areas
The pool
Keep the lights on
Replace all the faulty globes
Checklist:
Kitchen
Living areas
In the garden and street front
Bedrooms
Bathroom
03 5254 3100
www.bellarineproperty.com.au
84 Hitchcock Avenue, Barwon Heads
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