Preparing to Sell?

By Phillip Elmowy

Beware the over-capitalisation trap.

How far should you go to improve your house for sale? Andrew Winter has some guidelines to help you decide.

1. Be firm with yourself
If you are renovating to sell, you have to be firm with your budget, as every cent you spend has to be recouped at the other end. Would a $20,000 new kitchen add $50,000 to your selling price? Or would adding another parking spot be just as effective in upping the sale price while costing a lot less. Research is the key.

2. Check out local trends.
The information about what’s popular is out there for you to find. The local hardware store will tell you the popular shades, the flooring guys will know what people are using in homes like yours. Remember, you are renovating to sell to the market, not letting your personal tastes take over. This is about giving the general public what they want.

3. Read, read, read.
Search for inspiration. Magazines, newspapers, and online sources all offer tips on trends and current design principles. Study your local real estate guide and see what is happening in your local area, and work out how to imbue the look into your home, within your own budget.

4. Yes, there’s an app for this too.
Still feeling lost? There are several design apps available that can show you literally thousands of rooms, right there on your iPad/phone/laptop. Or visit the best of 3D design by visiting display home villages.

5. Visit the neighbours.
Once you have an appoximate value of your home, go and look at other people’s homes that are on the market in the same bracket as yours. Talk to the agents about the popular selling features in these homes. It’s about following the crowd.

Andrew Winter is a real estate consumer champion and the host of Selling Houses Australia on the LifeStyle Channel.

Source: Southern Courier 16/10/2012

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