TIPS FOR DECIDING TO SELL OR RENT YOUR PROPERTY

* This article originally published in the February 2018 Midland Express

It’s fair to say the property market can feel like an obstacle course at times.

Everyone has their own bit of advice on real estate, but what is right for your situation may not suit the next person at all. Some key things to consider when tackling the decision of what to do with your existing property when the time comes to move on – should you sell it or rent it out.

Let’s not get emotional

Although difficult, it is critical to making smart and informed financial decisions. Be objective and try to understand why you are considering the options.

Downsizers whose family have left the home might want to keep the family home as it still hold great emotional attachments. Basing decisions about such a large asset can be dangerous territory and can lead to poor financial decisions.

Don’t rush it. Without prudent advice and a thorough understanding your individual financial situation, trying to sell quickly this may not be the right decision either.

Your Cash Flow

Holding on to an investment property could give your finances an injection in the future and present tax incentive, but consider your cashflow in meantime? If your investment is dependent on the projected rental income from the property, consider things like maintenance costs and upkeep, body corporate costs and council rates depending on the property or what if the property is vacant for a period of time for whatever reason. All these things could impact the viability and manageability of your investment.

Investment

Remind yourself why you purchased the home in the first place. Was it a home to live in long term or a financial decision based on market opportunities? If you have strong, reliable information to support the investment, the benefit of turning your home into a rental may outweigh the associated risks.

Are you more confused then ever? Here are our top considerations when deciding whether to rent or sell your existing property.

 

For more on real estate in Kyneton and surrounds, head to jenniferpearce.com.au

 

The Checklist for Evaluating a Home

When house hunting, it can be fun to look through homes that you could potentially call your own. But keep in mind that you are not doing this just for fun. Try not be distracted by decorative tricks that might otherwise hide a structural anomaly.

My recommendation for prospective buyers is to use an Evaluation Checklist to keep track of the most important aspects of the homes you see.

Use the Evaluation Checklist (Link here: The-Checklist-for-Evaluating-a-Home-Feb-2018-2.pdf) when you become seriously interested in a house. It will support you from seeing the property from a less emotional position and make a better and more informed decision.

Do not use this list as a substitute for hiring a Building and Pest Inspector to check out the house thoroughly.  Engaging your own building and pest inspector should be part of your own due diligence before committing to a sale.

Should you sell your home over the summer holidays?

With the New Year comes a new optimism from both buyers and sellers wanting to take a punt on a fresh start, eager to get their resolutions met earlier.

Traditionally, real estate lore said not put your home on the market over the holiday season. But with the 24/7 connected nature of the internet, busy jobs and modern lifestyles, homebuyers can now pick and choose when and where they see your home, at least online.

Here are three good reasons why you should consider selling your home in the new year.

  1. There are buyers out there

It’s a competitive house market out there for buyers and people don’t slow down anymore just because it’s the summer holidays. In our busy modern lives, mobile technology connects potential home buyers to their potential new home whenever they want. Prospective buyers have the ways and means to look for it and they’re not willing to miss that chance just because the rest of life seems hectic, even over Christmas. Make sure you’re out there for them.

  1. There are fewer homes on offer

There are fewer homes available for purchase over the Christmas season. Since traditional advice has always been to not try and sell over the holidays, many people stop listing. Here’s your chance to take advantage of the sudden absence of sellers and have your house stand out in a much smaller crowd. Be there when no one else is
!

  1. People are serious

Those looking over the summer period are usually serious buyers. Many want to seal the deal quickly and be able to move in soon, sometimes, even more, the New Year. You could be closer to your own new year dreams if you take the time to consider the buyers who are still out and about at this busy time of the year.

New Years is a time for people to start realizing their goals and the clever ones make that happen sooner rather than later.

For more on how you can get your home sold in January, head to Jenniferpearce.com.au

 

 

New Year resolutions for sellers who haven’t sold yet

*This article originally appeared in the January 2018 Midland Express

A lot of people have resolved to sell your home this year.  With people recovering from Christmas and ready to start forging ahead with their New Year’s goals, it is a great time to take the plunge and get your house on the market.

But what happens if you house has been on the market for a while and hasn’t sold? The Kyneton market is certainly hot but there could be a small reason why your home hasn’t shifted. If you’re really dedicated to selling your house this year, you need to take decisive action.

A couple of things to think about:

  1. Reinvent your listing

Let’s be honest, if you’ve been trying to sell for quite a while without little interest, it might be time to shake things up.  Often a price adjustment can make a listing sell much swifter. Sometimes just a refresh of your marketing is enough to target new buyers ready to launch into 2018.This could include changing the copy about the property, a new heading about the property or using different hero images can make a huge difference.

  1. Stage your home

The internet is full of incredible ideas on how you can scale back on the personal but increase the potential of staging and styling your home. If necessary, commission a home stager or a trusted friend who has great personal style to help you get to market.

  1. Ask for help

If all else fails, why not give me a call?  Ten minutes on the phone can help you to understand the issues, and whether or not you can do something to improve the situation. If your New Year’s Resolution is to sell your home, let’s make it a priority to get it done right and with maximum profit for you.

For more on how I can help you sell your home, head to jenniferpearce.com.au

 

Dressed for success

*This article first appeared in the Midland Express in November 2017

In today’s real estate market, ensuring that your home is buyer-ready will not only secure a swift sale but it can also increase the sale price of your property.

 

So what do I mean by buyer-ready? You have a few precious seconds to captivate prospective buyers and tempt them to approach your property. Staging your home will give your home that ‘Wow’ factor that will attract a more diverse buyer and assist you in maximizing the highest possible sale price and at a swifter rate.

 

So what exactly is staging? Home staging goes a bit further than simply preparing your house for a sale. It involves setting a specific welcoming scene to intrigue potential buyers. With the use of interior decoration tips and well thought-out design, you can turn a very basic property into an alluring and stunning home.

 

That magic combination of styling and setting a purpose for your home will support the overall perceived value.

 

Many real estate agents are already experts in home staging. They know from experience what draws in buyers, and can help you achieve your goals. There are also professional home stagers who can help you with your endeavour. Although this comes at an additional price, the return on investment is usually high because staging can lead to your home being sold for thousands of dollars more.

 

Another option is taking on the staging yourself. This will take considerable more time and effort but the longer-term gain for you can be a lucrative sale price. It does pay however to have a trusted real estate agent to consult you throughout the process.

 

For more ideas and advice on staging your home for sale, head to jenniferpearce.com.au where I share my insights to help maximise your sale price through staging.

 

Mistakes you need to avoid when putting your house on the market

*this article first appeared in the October edition of the Midland Express 

When selling, a few simple mistakes may leave your home flailing on the market. Fortunately these are easy to avoid and can be managed with some prudent changes.

Don’t ask for too much money. Your house is only worth what the market will pay for it so ensure that you are prepared to list your house at or just around that mark. Pricing your home too high will discourage interested parties from making an offer, and your property could sit for months, which isn’t your goal.

Pick the right agent. Sure, a big brand and nice logo might appeal to you as a seller but when it comes to selecting the right agent, looks might not translate into the best person for the job. Can the agent support you during the stress, help you focus on what matters most and be clear in meeting your needs? If not, find someone who can. Immediately.

Don’t skip the marketing. Everyone wants to cut costs and save some money for other things in life. However cutting costs on marketing is like stopping a clock to save time. You’ll always have to make up for the deficient somewhere else. Marketing is an investment on the bigger return of a house sale. So don’t get your nephew with the good camera to take the photos of your property, pay for the professional who can showcase your home in the best light possible.

Fix the broken. It’s common sense, really. If it’s broke – fix it. Prospective buyers want to envisage themselves moving in and settling immediately, not spending their time fixing damaged and broken fixtures and fittings.

For more on how to get the right sale for your house, head to jenniferpearce.com.au

Why looks can be deceiving when it comes to real estate agents

Whether you are selling your lifetime home or an investment property, finding and choosing a real estate agent is a big decision.

I often hear of people having less than pleasant experiences with real estate agents. As part of my role as an agent, I like to work with clients to help them make an informed decision so they can maximise on their property sale.

Here are 4 tips to help choose the right agent for you.

1. Research

Research potential agents just like you would if you were investing in any other big purchase. There are many different real estate agencies to choose from but ensure you read reviews or ask local residence about who they would recommen

2. Ease , Trust & Comfort

Do you feel comfortable with the agent? Given that you need to be very honest with an agent throughout the process, you need to make sure you are comfortable with the agent and can have open and honest communications.

3. Market Knowledge

The agent should be able to give you a thorough snapshot of the market in your area and surrounding areas. They should know about schools, transport, demographics and the sorts of buyers looking for homes in the area.

4. Audition them

One of the best ways to research your agents is to attend open house inspections. Here is your chance not pop into one and see your agent in action.

At the inspection watch and interact with the agent, and consider the following things:

  • How does the agent communicate and interact with potential buyers. Is their communication style something that would work for you?
  • What is their behavior at the open house inspection? Are they standing at the door and welcome everyone? Did they identify the features of the property for sale and answer all the questions about the property?
  • Did they follow up with you after your attendance at the open house inspection to see if you wanted more information about the property
  • Were they punctual?
  • What do you think of the marketing/advertising for the properties the agent has listed?

These are just a few of the things for you to consider when selecting an agent – so happy selling and buying.