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Although it is a good idea to spruce up your home before you put it on the market, expert advice is short and simple – don’t overdo it or you may price yourself out of profit.
Considering selling your home? Before you put it on the market don’t embark on major renovations thinking you are going to make a profit on your property, says Samuel Seeff, chairman of the Seeff Property Group. Remember that prospective buyers may not want to pay more for extras. Most buyers are looking for the basics in a home, presented in an attractive and well-maintained condition.
Make these improvements – it’s worth it
- Make all general repairs and fix broken fittings and finishes so that buyers do not overlook your home, or expect a discount on your property.
- Give the property a fresh coat of paint and keep it neutral. While bright colours are trendy, not everybody likes them and buyers don’t usually want repaint.
- Complete all building work. If there is anything unfinished around the house, ensure it is completed and signed off by the local council where applicable.
- Excellent security including burglar bars and security gates as well as an alarm system is a good selling point. Linking it to a local armed response service may also add value.
- Solar panels are now increasingly sought-after, but ensure that you do not over capitalise. Do not install them simply with the view to getting a higher price. Check with your local agent.
- You will be surprised how many sellers don’t think of tidying up their home and packing away personal items and clutter when prospective buyers view. Also opt for minimal decor – this way buyers can envision themselves living in the home.
Improvements that’s not always worth it
- A revamped kitchen and bathroom/s will always be a good selling point, but keep it neutral and costs to a minimum. Remember, your price expectation need to fall within the prevailing price bands in the area.
- Extravagant finishes such as overly fancy wardrobes and flooring, and expensive exotic gardens with intricate irrigation systems also do not add value.
- Adding extra rooms that buyers who are looking in the area do not generally require. Most buyers look for three bedrooms, a fourth bedroom, third lounge or gymnasium may be unnecessary for the area.
Tips for prospective sellers to consider
- Compare your home to other properties in the area and make sure it doesn’t stand out because it is too big and elaborate, or poorly maintained.
- Use an experienced agent who has sold houses similar to yours in the area. The agent can provide you with a valuation and advice in terms of any maintenance to be undertaken.
- Ensuring your property is in a good, sellable condition will greatly improve your chances of getting an offer and a sale.
