PREPARING YOUR PROPERTY FOR SALE

While market forces determine the true value of a property, how much a prospective buyer wants the home -- and the lengths to which you are willing to go to enhance its salability -- will also influence the end result. It's therefore in your best interest to present your home to the best possible advantage. Buying 'a home' is an emotional experience as well as a financial and practical lifestyle decision. While location, size and features are important, the 'feel' of your home can be the 'sale clincher'.

The Power of a Presentation

Presentation plays a key role in the selling process. Giving prospective buyers a positive first impression could be your launching pad to a relatively quick sale -- and the best possible price. Before you put your property on the market, conduct an inspection tour around the entire property. When you've been living in a home for a while, signs of wear and tear occur so gradually you might not have even noticed them.
Look at your property with 'fresh eyes'. Pretend that you're a buyer stepping through the door for the first time and ask yourself some questions. Has the interior and exterior paintwork seen better days? Are gutters and eaves a bit worse for wear? Is the garden looking sad and neglected? Are the rooms cluttered and in need of a spring clean? What minor repairs have been put on the back burner?

The Make Over

Most homes will benefit from a pre-sale make over. You can achieve good, cosmetic results that will add value even on a limited budget. The amount of money you should spend on pre-sale improvements depends on the value of your home. As a general guide, real estate insiders recommend paying between 1% and 5% of the property's value for the make over.

The end result of your pre-sale preparations should be a clean, tidy and uncluttered home regardless of its age of condition. A fresh coat of paint is often a relatively cheap way of giving your interiors a facelift. However, a full exterior paint job will be considerably more expensive, so weigh up the likelihood of recouping the cost.
When carrying out cosmetic touch-ups, where possible, give some thought to contemporary taste rather than personal decorating preferences. The 'look' that is currently in demand calls for clean lines, simple, functional interiors and neutral colours. Nevertheless, the décor should complement the style and era of the home so avoid sacrificing original features for fashion.

Space Counts

Since living space and storage are important features on a homebuyer's checklist, it is essential to remove clutter from your home. If your rooms are overcrowded with furniture, send them into storage or farm them out to family and friends. Large pieces of furniture can make a room look smaller, so consider storing them as well. Arrange your furniture so it is easy to walk around the room. Throw open curtains and blinds, as natural light is a major selling point and remove any window coverings that are obstructing views.

Atmosphere

Remember, buyers are trying to visualize the home as their own, so the vast photo gallery of your family trips might make that task more difficult. Having said that, some selected ornaments, a vase or two of fresh flowers and a few cushions and rugs with pleasant music playing in the background will be enough to create a warm, homelike atmosphere.

Maintenance

Most people are looking for low-maintenance homes. Wherever possible, spruce up the place as ancient dirt, overflowing gutters, neglected gardens, peeling paint and run-down balconies all scream 'lots of work'. Clean windows, fly screens, walls, gutters and all exterior and interior surfaces. Mow the lawns, trim back overgrown bushes and remove dead and dying plans. Clean up oil stains from the driveway and garage floor and clear away rubbish. Anything that gives off a nasty smell should be gotten rid of.

Calling in Professional Help

While most home owners can undertake a basic pre-sale make over, there may be a case for calling in some paid help. If you are strapped for time or ideas, or if you'd rather leave it to the experts -- and your budget permits -- help is out there. Gardeners can smarten up the yard, odd job workers can carry out minor repairs while professional cleaners can steam clean carpets, wash windows and scrub down bathrooms. You may even want to spending extra money for a painter or an interior decorator to achieve a more polished result.

The Switch

Besides paying experts for their makeover know-how, you can also spruce up and modernize your property by renting furniture. Furniture rental companies are located in most cities and larger centre's outside metropolitan areas. Furniture packages and select pieces are available to meet small or larger budgets. However, you will also have to factor in the price of storage for your own furniture.

Avoid Spending Too Much

Some people renovate their bathrooms and kitchens to maximize the sale price on their homes. When undertaking more expensive renovation work, be absolutely sure that it will actually add to the value of your home. Talk to your real estate agent and check out other houses in the area to get a clear picture of buyer expectations.

Selling Costs

As a general rule of thumb, selling costs amount to around 3%-4% of the sale price, although this can vary from property to property and State to State.

Selling costs include:

Solicitor's/conveyancer's fee

Real estate agent's commission

Advertising and auction costs (may apply)

Early mortgage discharge fee (may apply)

.

Note that all prices stated in this guide are only approximate and are for indication.