1. Update your advertisement
If your listing and marketing details remain unchanged for months on end, your potential buyers will notice. Photos are one of the most important ways for a purchaser to connect with your property so be sure to keep the advertisement looking fresh by updating the photos regularly.
2. Give your property a mini-makeover
A spring clean can make a huge difference. De-clutter and make the most of your space – every room needs to be tidied and non-essential items are best to be stored away. Carpet cleaning can also help make a home look more inviting. And finally, look at low cost, quick facelifts. Minor changes like a new coat of paint or some attractive plants in the garden can make the world of difference. Be sure not to over-capitalise when you carry out makeovers – the purpose of the mini-makeover is to sell the property quicker, not to increase the asking price of the
3. Change your price
The most important factors that you can control are presentation and price. If you have done all you can to improve the presentation of the property then the price is the next factor to consider. In a down market, price is very sensitive, and even a small price variation can stop an
interested buyer from lodging an enquiry. Do some research and be honest about the price. Check on how your property measures up against similar properties in the area – it is far better to be competitive and achieve a quick sale rather than waiting and hoping for an unachievable price while the property sits vacant and bills come in.
4. Take a break from the market
If you are not prepared to lower the price on the property as a last
resort you might consider leasing the property for a few months and then re-listing for sale in a stronger market which gives you an
opportunity to present to a fresh new group of purchasers.
Looking at ways to get your property ready for the rental market? Here are five easy steps to give your place a fresh new look on a budget:
A fresh coat of paint is a simple way to achieve a dramatic transformation.
It is always best to stick to neutral colours – the top 3 colours this year
according to Dulux are Antique White USA, Natural White & Hog Bristle.
Laying fresh mulch on your garden beds and pots can tidy up the yard instantly – the most popluar mulch is medium or coarse grain bark mulch which break down slowly & stops the soil drying out.
Laying new carpet is a bit more expensive but can make a huge impact on the way the property is perceived. It is advisable to lay a darker neutral colour in a medium brown or a medium grey which doesn’t show the dirt as much as a lighter colour carpet. For rental properties, it is usually
advisable to lay a cut pile nylon or nylon blend as they tend to resist stains & furniture indents better than wool carpets.
Make sure that all general maintenance is attended to prior to conducting open house viewings. Prospective tenants will be put off if the property looks to be in poor condition. The things you should be looking at are:
Water stains or paint bubbling on the ceiling or walls
Loose power points, light fittings or exposed electrical wiring
Broken door handles
Damage to concrete/ brick or render on internal & external walls
Dirty or broken blinds
Published on 22 October 2012 the Commonwealth Bank / Mortgage & Finance Association of Australia Home Finance Index has found that first home buyers are at their highest levels of financial confidence since May 2011 with 75.8 per cent of people believing house prices would grow or remain stable between now and the end of the year.
According to a national survey about 63 per cent of first home buyers in Australia say it is a good time to buy because interest rates are down with the Reserve Bank of Australia lowering the cash rate to 3.25 per cent at its October board meeting and economists forecasting further interest rate cuts in the months ahead.
Respondents in the survey under 29 years of age are the most optimistic of all age groups about the future growth of property prices, with 45.9 per cent expecting price growth from 2013 onwards.
In the Balmain/Rozelle region we are seeing the effects of this confidence with sales at the lower end of the market going strong and more properties are required to meet the demand in the lower entry price range.
1. Time your entry to the market to avoid the Christmas period and the end of financial year period as many tenants are not looking to move during these times. Generally around October and March are the times when properties are in highest demand.
2. Decide on a lease term that suits you. If you agree to a fixed term it is extremely diificult to get a tenant to move out earlier. At the same time you don’t want to keep having to renew a lease or find new tenants every few months so always aim for the maximum lease term that you can commit to at the time.
3. Start advertising the property 4-6 weeks prior to the date that you intend to move out. Most tenants are looking for properties 3-4 weeks in advance so this will ensure that you minimise vacancy between the date you vacate the premises and the date the new tenant moves in.
4. Organise professional cleaning & carpet steam cleaning prior to leasing the property. This way the tenant can’t complain about cleanliness and you have a standard to which the tenant must return the property at the end of the tenancy.