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For reports on property sales in all suburbs, see www.rpdata.net.au
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Factors You Can Partially Control When Buying Property
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Where and what property you buy are the two factors that usually affect appreciation more than any other. There is an almost infinite number of possibilities that affect a rise or fall in value of a property, but you might consider the following:
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- Research: investigate your suburb by looking at recent sales, and at median sale prices for similar properties over the past few months and years. There are numerous online reports detailing trends; www.rpdata.net.au offers both paid reports and some excellent – free – suburb reports.
- Size and price: are they typical for the area and is the property likely to be easily re-sold?
- Longevity: are you planning to have a family in this home or will you need more or less space in the coming years? Moving is expensive so plan for the longer term.
- Schools and hospitals: are there good local schools – for your family, or for the family who might buy your house down the track?
- Transport: how easy is it to get to work or travel around the local area?
- Property developments: will you always be trying to sell against newer properties or is the area’s principal use about to change?
- Views and aspect: check whether there are any planning applications pending that may affect your property.
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Factors You Can Completely Control When Selling Property
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When it’s time to sell your property, it’s vital that it makes a good first impression. A potential buyer is looking around your house because they have already decided they’re interested in the area and price range – now it’s time to maximise your return by ensuring your home looks its best.
One of the most important steps you can take is to complete any repairs before you show the house. Most people aren’t looking for ‘a renovator’s dream’ and the repairs you make now will be cheaper than having to discount the property later because you didn’t make them before showing the house. Before you sell, put yourself in the position of the buyer and (where applicable) consider the following:
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The exterior
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- A well cared-for exterior will influence buyers’ opinions of everything else.
- A fresh coat of paint is essential for that all-important first impression.
- The same applies for doors and windows – paint the door, buy a new mat, make sure the bell works and replace any old or cracked windows.
- If you have a garden, ensure it is neat and not covered in leaves or toys.
- Flowering plants in pots or baskets brighten up a property instantly.
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The Interior
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- Make sure the entrance area is clean and bright; put a vase of flowers there.
- Eliminate strong smells well in advance – buyers don’t generally fall in love with houses that smell of cigarettes or dogs.
- People like lots of natural light, so open the blinds and curtains. If you don’t have natural light everywhere, make sure the lighting is as atmospheric as possible in all rooms – no bare bulbs!
- Floors and walls make up most of your house. Repaint walls in a bright, neutral colour and repair any chips or old skirting boards. Get a professional carpet cleaner in if you need to, and polish floorboards and clean tiles.
- The kitchen and bathroom are extremely important rooms – they must be clean, tidy and bright. Replacing old kitchens or bathrooms can be one of the most effective ways of adding value to your property.
- Rearrange any cluttered rooms to open them up and consider storing excess furniture while you show the house – people like space, not lots of old chairs.
- If you have a garage, make sure it looks as clean and spacious as possible.
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