If you have ever watched the TV show Selling Houses Australia, you will understand the benefit of sharing a beautifully presented home with interested buyers.
The challenge is finding the sweet spot between upgrading your property so it sells for more, and overcapitalising so your house is worth less than you have spent on it.
If you know your house could do with some upgrades to maximise buyer appeal, the first thing to do is speak with an experienced real estate agent. They will have an idea of how many interested buyers are in the area and what they are looking for.
In terms of cost-effective upgrades, the following should give you some easy wins:
How to sell for more
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Fresh paint – A coat of paint can transform a home. Freshly painted walls rejuvenate any space, giving the home that ‘good as new’ feel.
Choose neutral colours like white and warm greys when you paint before you sell. You want potential buyers to walk in and be able to picture themselves living in the property. Vibrant and bold colours can be distracting. -
Upgrade the facade and entryway – First impressions can make or break the outcome when you want to sell for more. You want potential buyers to be wowed from the moment they see the home. For a cost-effective face-lift, pressure-hose the facade. You should also tidy up the front yard and ensure easy access to the front door by cleaning or adding a pathway.
Finally, and if you have watched Selling Houses Australia, you will know to make sure you have a house number that is easy to see. - Kitchen and bathroom – Fresh bathrooms and kitchens are one of the best ways to sell for more. If these spaces can be used and enjoyed from the day the buyers move in, you will be offering a more appealing prospect.
The trick again is to walk that fine line between investing and overcapitalising. Don’t completely overhaul your bathroom or kitchen unless it is absolutely necessary. Instead, add a coat of paint and replace cupboard doors and fixtures. Update countertops if you can afford it and try sprucing up your splashbacks with some tile spray. -
Structural issues – Structural issues like leaks or worn foundations need careful thought and consideration before you sell. If there are a number of structural issues there is a good chance that a buyer will use them to negotiate a lower price. The thing is to figure out whether it is worth spending the money to fix the problems beforehand or taking a slightly lower price.
The other factor worth thinking about is how a building inspector will see these issues. Smart buyers will have a building inspection carried out and if structural issues are serious enough that you wouldn’t get the tick of approval from an inspector, you should almost certainly take steps to remedy this.