How to maximise your selling price

Author: REIWA President Damian Collins.

Most property owners understand that to get the best result for their property when selling, they need to attend to completing jobs around the house that perhaps they had been intending to do for years.

Fixing the paving, painting the front fence and repairing the side gate are typical examples of jobs that fit into the “I must get to that one day” category.

The little jobs matter

When preparing your home for sale, these ‘little’ jobs are important in achieving an expedient sale at the highest possible selling price. This is because buyers typically notice the little jobs too; an ill-fitting gate is easily and cheaply repaired yet can loom large in the buyer’s mind as a more major problem that hints at other areas of the property being neglected.

Beware of over-capitalising

Of course, you need to be cautious about “over-capitalising” when preparing to sell. Replacing a bathroom and renovating a kitchen are expensive and, depending on the property and its location, may prove counterproductive in the effort to achieve the best price.

For example, if you were to take a quality home on a lot worth $700,000 in a suburb where the median price was of that same value, then investing in a new kitchen and bathroom that cost, say, $80,000 may not be the best idea, as it is likely to be more difficult to sell that property at $800,000. This is because it is already above the suburb’s median price.

Conversely, an original cottage in a well-established affluent suburb is more likely to benefit from renovations when preparing to sell due to the higher demand for “finished” properties in those sought-after areas.

How to present your home for sale

Obviously, each property and circumstance engender a variety of options for sellers. In general terms however, presenting a clean and tidy home is always going to help your cause in selling at the best price.

Small things do make a difference. Paint and gardens are two areas of focus that can make a significant impact to the selling price.

If you are thinking of selling, discuss with a REIWA Agent the works that may be most effective in getting your property sold for a good price.

To find a REIWA real estate agent to help sell your home, visit AgentFinder.

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