Making money ain’t free.
There are four common expenses associated with selling property. Some of them may be relatively inexpensive, while others may, at first glance, seem rather expensive. But it’s unwise to focus only on the expenses. There’s a common, abbreviated, expression that originated in an ancient Roman comedy, called Asinaria, written by the playwright Plautus: You must spend money, if you wish to make money. This concept applies exceptionally well to the practice of selling real estate, if only you think of those expenses, instead, as investments.
The first expense associated with selling property is preparing the home for sale. This is one of the most important first steps to selling your home, which we point out in our free, downloadable guide to selling property, called Selling Your Property: What You Really Need to Know. Depending on your property, you may need to carry out significant repairs and maintenance before putting your home on the market, or you may need to do very little.
Every home must be prepared for sale
Make no mistake. All homes need to be prepared, to some extent, before opening them up to prospective buyers. As the Selling Your Property guide discusses preparing the home quite thoroughly, this blog post is only going look at the most common aspects of preparing a home for sale, which include:
- Garden maintenance
- Painting the interior/exteriors
- Repairing any broken fences or decking
- Professional carpet cleaning
- Replacing broken kitchen/bathroom cupboards and shelving
- Styling the home for photography.
That last point, styling the home for photography, is an important one for all home owners. It doesn’t matter whether you only intend to advertise your home online, or whether you’ll be taking out display advertising in your local newspaper. Your home must be looking its absolute best if you’re to attract the right kind of buyers.
Well presented homes sell faster, and for more money
Homes that look messy or unappealing when they’re photographed will deter buyers from inspecting your home, especially if there are other, better presented homes open nearby. But the first couple of opens in your sales campaign are the most crucial. Missing those buyers early on in your campaign will prolong the sales process.
Homes that hang around on the market for an extended time send the message to buyers that there’s something wrong with them, and that can have an impact on your eventual sales price. Entice as many buyers to come and see your home by preparing and presenting it for sale. The larger the pool of buyers, the greater your chances are of getting the best possible price for your home.
Expect to set aside: around $1,000 to $5,000 to prepare your home for sale. Depending on your home, you may spend this money exclusively on repairs and maintenance, while others may spend it styling their home for photography. For advice, consult your real estate agent.
If you’re thinking of selling and you’d like to know more about the sales process, subscribe to our website to receive access to our free educational guide to selling property, called Selling Your Property: What You Really Need to Know. Alternatively, for more property market news, insights and analysis, continue reading our blog.
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Our educational blogs are designed to help you understand each of the steps involved in selling your property so whether you choose to work with a real estate agent or do it yourself you'll understand the work involved and be more efficient and aware of what you need to do. Our articles have been seen in these major online news and information portals..
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