December 10, 2019

Selling Your Property In Summer: What You Need To Know

The New Year is traditionally known as a time for change.

Some changes are bigger than others and if you are considering a major overhaul, like selling your house and buying another property, then you will need to read this.

Here’s our guide to getting your property ready for summer in 2020.

What to Expect

In 2019, property investors were watching Toowoomba closely and for good reason. Select Residential Property Group’s website Sell or Hold placed Middle Ridge, in Toowoomba, in the country’s top five suburbs that are tipped to mushroom in value in the next three years.

Meanwhile, house prices in Toowoomba City have grown by 6.52% in the last 12 months. According to data from CoreLogic, the median house price in Toowoomba City was sitting at $363,250 in late October.

East Toowoomba is also considered a high demand market, with the median house prices at $511,000. The market in North Toowoomba is picking up with the price of a house at the $340,000 mark in September, while in the South the median price is $315,000.

Like most real estate markets, Toowoomba is relatively quiet in January but after Australia Day, when all the kids are back at school, house hunters are back in force and your property should greet them in optimal condition.

With that in mind, you can use this quiet month to your advantage. Harness all the momentum that the New Year brings, make good on your resolutions and get to work. Here are some tasks to do before you open the doors of your home to potential buyers.

Do Your Research

  • Get a market appraisal

Not only will a local real estate agent give your property a top to bottom evaluation but they will also have insight into the psyche of current house hunters. If floral wallpaper is turning buyers away, for example, the agent can give you a head’s up, and you can make the relevant changes before a photographer is hired to start working on your marketing campaign. You’ll get an estimate of the current sales price, and with that, you can start thinking about your budget for your next move.

  • Eavesdrop and inspect

Once you know your property is going on the market, attend as many inspections as possible. You can gauge your competition and also get a sense of what buyers are specifically looking for and are deterred by. It’s a great way to understand the intricacies of the local real estate climate and is a more accurate form of research than simply reading statistics.

  • Get a contract drawn up and a pest and building inspection

Have your agent draw up a contract of sale. In addition, having a pest and building inspection ready to go will help buyers move faster if they want to make an offer. It will also identify any issues that could make your property difficult to sell and January will be a good time to make any urgent repairs. If you do fix any problems, ask your inspector for a top-up report and provide it to potential buyers with your other documentation.

  • Know your property

Try and think about your property objectively and think of the issues that would make you hesitate to put a deposit down. If anything springs to mind, run it past your agent. They will let you know whether your instincts are right. You should also look at when your property looks at its most appealing, and light can have a huge impact. If your property is dark at a certain time of day or heats up in a certain area, then your agent needs to know. You want your inspection to take place at a time of day that will show off your home.

Selling To-Do List:

1. Look outside

Toowoomba has a reputation as a garden city. In summer, buyers will find it hard to look past a barbeque-ready backyard. Make sure to manicure the garden and deck, and furnish it in a way that’s inviting.

2. Declutter

You will have to pack when you move, but throwing things away before your campaign begins will make cleaning between inspections easier and will depersonalise the rooms, and improve the overall look and feel of your house.

3. Paint and polish

Your agent will tell you which areas of the house could do with improvement – if any. Be careful not to overcapitalise. But if you have the budget you could refresh your property by painting the house and polishing the floors, as they make up most of what a buyer sees.

4. Check the temperature

We are all familiar with Toowoomba’s hot summers. Make sure that your house is cool during inspection times so that potential buyers can imagine living there. That may mean running the air conditioner for longer than usual or keeping the blinds drawn until viewing time commences.

For any more information or to get an appraisal, contact us today!

Article by Joanne Rowe

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