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The Spring sale season is upon us, and real estate agents around the city are smiling!
Despite two interest rate rises, clearance rates are still pointing to a booming real estate market, a fact supported by the Real Estate Institute of Victoria, which suggests a new median house price record for Melbourne is likely to be set this Spring.
This is no surprise to agents, who say property prices have been on an upward spiral for more than a year.
But are you maximising the potential of your outgoing home?
Agents say that buyers are so often excited at the prospect of buying a new home, that they don’t invest the time doing little things for their existing homes, which could reap up to tens of thousands of dollars.
The Sunday Age talks to industry insiders, about how to make your home stand out from the rest during the campaign and on sale day.
Gardens
You can only make a first impression once, and the front garden is where it happens.
“A charmed front garden will always create a lasting impression on the minds of buyers and set the scene for the further attractions the home has to offer,” says Robert Elezovic, director of Raine & Horne real estate in Brunswick.
Simple landscaping such as trimming trees and shrubs, mowing lawns (including your neighbour’s nature strips), keeping paths moss free and weeding garden beds will raise the appeal of your home. Freshening up faded guttering, timberwork and fences - and painting if necessary will give your home a fresh appeal.
Additions such as colourful spring bulbs and mature trees can give your home that well established look, while feature pots are an effective way to lift unexciting, or awkward corners or block unsightly spaces.
Emphasising the Features of your home
Make sure the features of your home are not overpowered by a theme. While it might work for you, it has been known to backfire, according to agents. Prospective buyers could spend more time checking out your flair for decorating, drawing attention from the home’s actual features.
“In most cases less is considered more and a simple neutral theme can work best,” says Mr Elezovic. “Remember, you can’t please everyone.”
Going with simple furniture or period pieces that suit the era of your home will complement it. Borrow or hire furniture if you need - a spectacular piece could set off a room and give it that extra touch.
Spring Cleaning
A Spring season needs to start with a spring clean.
Steam clean carpets and polish floors. Clean windows, light fittings and clear cobwebs - inside and out!
De clutter personal items, bric a brac and family portraits and keep ornaments to a tasteful minimum. Give your home a greater sense of space by storing unnecessary items and organise wardrobes and closets.
Your home may have limited storage space, but you don’t want to demonstrate this to the buyer.
Furniture & Lighting Placement
“The best features of the house can be highlighted with furniture and lighting,” says Michael Fry, property consultant with Nelson Alexander in Northcote. “Any dark areas including hallways and corners should be lit.”
Placement of furniture can make a world of difference to the sense of space of your home. Don’t close off rooms by overcrowding them.
A mirror opposite a window can project light into darker places adding to a larger sense of space to prospective purchasers. Remove any unnecessary items such as large coffee tables or bulky desks.
If you have a home office in a room other than a study then pack it up before the sale campaign. Rooms have an intended purpose - there’s no need to showcase your home’s lack of features or space.
Master Bedroom
Present the master bedroom to potential buyers as tranquil, calm and spacious.
De-clutter all surfaces and unnecessary possessions, and invest in a nice sheet set for your bed.
Do not store items under the bed or on wardrobes where they are visible. Organise closets and ensure they look clutter free and spacious - this will give prospective buyers a better sense of storage capacity and leave less to the imagination.
Kitchen
Your kitchen needs to demonstrate its functionality. All bench tops should be free from clutter, however a stylish appliance such as a kettle and toaster can stay - if it enhances the kitchen’s appeal.
Cupboards and pantries should give the impression of ample storage, so toss out anything you don‘t use. Clean all appliances including the oven, as agents say buyers will inspect a house from every angle.
Improvements can be made from something as simple as changing cupboard handles and bench tops - or if the kitchen situation is much worse than that - consider replacing it altogether. New kitchens start at around $3000 - but can be the key to whether a prospective buyers come for a second inspection.
Bathroom
Ensure your spring clean focuses on the bathroom, as buyers consider this to be a reflection of the usual condition you keep the home, according to agents.
Your bathroom should be light and airy. Where natural light isn’t available or limited, a fan heater with a strong light might be an important and inexpensive investment. Re-enamel basins and the bath if they are looking worn.
“Towels should be matching and clean,” says Michael Fry, property consultant with Nelson Alexander in Northcote, so put out your Sunday best!
Make sure the bathroom is free from mould and stains, and keep the clutter-free theme to all ensuites and water closets.
Painting
Check out display homes for contemporary colour schemes to give your home a modern fresh look. However, agents warn - be aware of your rooms dimensions. A feature wall or dark colours may look good in a display home but can close off a room, particularly if it doesn’t catch natural light.
Light neutral colours are the pick of the bunch for agents - as it can add to the sense of space and carry light through dark corners.
“Take the time to research your period style home,” says Mr Elezovic. “Find out the original colours from the local council and/or the internet and adopt them into your painting theme.”
Ensure all colour schemes compliment your furniture for the sale campaign.
“You could always invest a small sum of money and hire a colour co-ordinator,” adds Mr Elezovic.
Send dogs to the dog house
Agents agree pets should be locked outside, or removed from inspections and auctions altogether. Prospective purchasers do not want to be distracted by an excited dog, or be sneezing because of an allergy to cats!
Be sure remnants of fur, pet food and associated odours have been aired before opening your home to prospective buyers. It may be worth setting your dog up in the dog house after your major spring clean and during the sale campaign, to keep the house airy.
The Little Things
Start attending open for inspections and auctions for the months prior to listing your property for sale, to get an idea of real estate agents and auctioneers in your area. It’s a great way to see what kind of service prospective buyers of your home will receive, should you list that agent.
When talking to real estate agents about listing your property, don’t be fooled by ‘cowboys’ who promise a sale price significantly higher than the others you have received. Your agent should pass a basic test of knowing what properties in the local area have sold for.
Shop around for real estate agents and don’t always be fooled by the ‘cowboy’ who promises a sale price significantly higher than the others you have received. Your agent should be able to tell you what properties in the local area have sold for.
Be careful not to sell your home on holidays, long weekends - or on grand final day!
Sure, there will be some buyers, however, particularly for investment properties - you risk losing the impulse buyer which might have found themselves at the right place at the right time.
Baking a cake of making a pot of coffee does help in the name of first impressions, according to agents - but turn any music off - agents say this can distract prospective buyers from giving the home their full attention.
“The natural sounds of spring should be enticing enough for the potential buyer, so if it’s a nice day leave a couple of windows open and take in some of that wonderful spring air,” said Mr Elezovic.
INTERVIEW: ROZ DYMOND, INVESTMENT DRESSING
Roz Dymond is a firm believer that the best thing you can do to your house before sale, is cast another set of eyes over it.
“You begin to see through all the things buyers might find a turn off, when you live in a house,” says Roz, who runs Investment Dressing - a boutique business that styles a home before sale.
“Even if you can’t afford a stylist, get a friend to come through. You need someone dispassionate to walk through the house and tell you things they notice,” says Roz.
Entrance foyers and formal areas - often the first room people see in a house - should be given particular attention, according to Roz.
“No matter what your budget, invest in fresh flowers - flowers in a big vase make a big impact” said Roz. “Orchids can last all four weeks of the campaign.”
“Art work can be hired nowadays, and is important for making a strong visual impact particularly in entrances,” says Roz. “Fresh white or cream Marcella quilts can be hired too. I advise my clients to keep it handy in case of any last minute inspection.”
“You might have a number of pieces in a room, a chair inherited from a favourite aunt, a chest from someone else,” says Roz on the problem of clutter. “For the campaign remove excess pieces and put them in storage for a month, a room has to have a good flow and feel spacious.”
Case study: Andrew Williamson
Andrew Williamson and wife Nicola scoured the market for 18 months before finding their ideal home.
Properties that may have fit the bill were ruled out, because of animal and musty smells of decay, dirty walls and dark paint work which made rooms seem smaller than they actually were.
The couple eventually found a period home in Melbourne’s inner northern suburbs, which they were immediately attracted to. “It was a private sale and we bought it within four hours of looking for it.” said Andrew. “The standard of the house was everything we had been looking for.”
“We found it was highly competitive when the property was in good condition and presented well.”
Andrew says its important to give the internal walls a fresh coat of light coloured paint to maximise the sense of space. “Rip up carpets if they smell or are grotty - buyers will rip them up anyway.
“Ask neighbours to take barking dogs for a walk during inspection times,“ added Andrew. “I also preferred the vendor not being present during inspections, as it makes people viewing the place uncomfortable and makes it difficult for potential buyers to imagine themselves living in the house.”
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