Summer is the time most Aussies decide to relocate, selling their previous house and staring to look for new ones. Selling a house is not the toughest job on the planet; the challenging part is getting the right price for your prized possession. Most houses for sale by owners underperform at the market because the owners are unable to maximize the profit on the sale of the house.
This article takes a look at five rules that you should stick by to maximize profit when you are selling your home.
1. Sell Your House on Your Own
There is a growing divide in the real estate market between home owners that recommend using realtors to sell their homes and those that advocate selling their homes themselves. For home owners looking to maximize profits from the sale of their home, using a realtor will cut down on the profit they will have in hand at the end of the day. Most realtors take a share of the profit as their fee and that restricts the home owner’s ability to maximize profit from the sale.
2. Get Your Home Repainted and Walls Repaired
For a country that has as many beaches as Australia does, it is hard to keep the exterior of the house in pristine condition. In most cases the paint on the outside walls of the home and the sorry state of the walls can make the home look older than it really is. This in turn decreases the value a potential buyer is willing to pay.
To maximize profits from the sale, the owner needs to make a little investment in getting the home repainted from the outside and its exterior walls remodelled. In the world of real estate, the first impression is often the last impression, which is why it needs to be impactful.
3. Focus on the Kitchen and the Bathroom
Kitchens and bathrooms are the Achilles heel of homes. They are one of the few things that most buyers are interested in. Typically when there is very little to differentiate between houses, buyers make their decisions based on their perceptions of the kitchen and the bathroom of the homes. A remodelled kitchen or an upgraded bathroom adds value to the house which can be extracted in the form of increase profits from the sale of your home by increasing its selling price.
4. Never Show the Buyer you are Desperate to Sell
Home owners can sometimes be desperate to sell their homes to raise capital for use someplace else. Despite the urgency of the matter, if they want to maximize the profits on the sale of the house, they need to keep their desperation to themselves. It is an age old bargaining tool, the first person to blink loses stakes, if the buyers are able to sense your desperation they will not let you make a sizeable profit on your property.
5. Light it up
Why are you willing to pay the extra bucks at these high end shops for the same kind of products that are also available on the cheap? It is because of the way they are presented, presentation is everything when it comes to the price of your home. If homeowners are able to light up their home with extra light fittings, attracting attention to their home, buyers will be willing to pay the extra bucks as long as the home appeals to them.
These are only some of the rules that Aussies looking to sell their homes and maximizing their profits can follow.
July 21, 2016
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