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The hidden benefits of selling in winter

*Article first published in Midland Express, 6 June 2017

The traditional wisdom is that the warmer months are the perfect time to sell your home. And it is true; the seasons do impact on buying and selling. However in recent times this has changed due to the continued supply versus demand position across most of Australia

On the whole, real estate does tend to “slow down” during winter. And this slow down means less competition from other properties, so the seller gets more of the buyers to themselves.

This can also provide an opportunity for those that have struggled to sell their home in a competitive market place. In towns like Kyneton and its surrounds where the demand for properties is consistent, winter could be the right time for those ready to sell.

Winter can also reveal so much about a property. Spring and summer are generally forgiving months but come wintertime it is a fantastic opportunity to showcase an open fireplace or sophisticated heating system to potential buyers. Making your house an escape from the chill is rewarding for buyers who can see beyond the potted plant façade out front and understand what living in the home would be like in the colder months.

Some buyers are also in hibernation period over winter, which allows those discerning shoppers to jump ahead of the pack before spring returns. Treating these buyers just as you would a buyer during the warmer months is a savvy way for vendors to sell their homes during winter months.

 

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Why buy in Kyneton?

Years ago, if you asked anyone who didn’t live on the Calder line where Kyneton was you would probably get a blank expression.

These days, Kyneton has become an emerging hotspot for creative and professional tree-changers as well as well as those seeking a quieter lifestyle.

One of the biggest draw cards is Kyneton’s proximity to the Melbourne CBD as well as the airport. With access to Melbourne and the inner north only an hour away by road and rail, savvy commuters have found it a bonus instead of spending equal time travelling from suburban areas.

The housing marketing remains steady in Kyneton, with a combination of character filled period homes as well as newer stock keeping both buyers and sellers happy. With owner occupiers as well as investors finding it increasingly difficult to enter the Melbourne market,

Real Estate Institute of Victoria data also supports homebuyers choosing places like Kyneton with median house prices increasing approxametly 39% over the last five years.

One of my tree-changing buyers recently said “It is the 5 minute lifestyle that did it for us.” And she is right! With fast trains, sophisticated hospital and healthcare facilities, progressive schools and access to childcare as well as Kyneton’s renown epicurean scene and natural attractions, I do not foresee the interest in Kyneton as home buying hotspot slowing down any time soon.

For more on why buyers can’t seem to resist Kyneton, head on over to jenniferpearce.com.au and I’ll share my insights.

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Why people love to live in Kyneton

It’s true! Kyneton has become the epicenter of cool in regional Victoria.

A once booming piece of the supply chain for the Central Goldfields is now the hotspot for savvy property investors. In 2016, Money magazine named Kyneton as one of their top 50 places to be.

So what exactly is it about Kyneton that attracts buyers?

Proximity to the city and the airport

With a fast train and a great run on the Calder Hwy, Kyneton is smack bang in between Bendigo and Melbourne, making this an excellent choice for the professional commuter.

Better still, the airport is only 35 minutes away which is about the same time it would take someone from Brunswick to travel to the airport.

Epicurean Spoils

Piper Street has become a renown food hub for those seeking local produce made with attention and care. With a concentration of quality operators who value seasonality and good old fashioned hospitality, the spoils of Piper Street are just another reason people want to stay.

Arts and Culture

 With the influx of urban tree-changers came a wave of creative and dynamic professionals enhancing the cultural identify of the town. With an annual calendar bursting with events to suit everyone, the arts and culture scene in Kyneton is one of envy for other communities. The Lost Trade’s Fair, the Kyneton Music Festival, classes at the Stockroom amongst others is a considerable draw card for those wanting to immerse in a cultural life.

Facilities and amenities

When a town has a hospital, people stay. When a town has excellent schools, libraries, thriving retailers and service, more people will come. Kyneton has become a town that people do not have to leave if they need a service or facility. And with a population of older people as well as younger families, this appeal should not be discounted.

 

Its beautiful!

Let us not forget what makes Kyneton truly wonderful. It is beautiful. Historic streets with bluestone beneath your feet. Giant oaks that rain colour upon you every autumn and the mighty Campaspe River flowing as the main artery of the town. Kyneton remains a country town at heart and its community is proud of all that it is.

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Should I Spend Money on My Property Before Selling

A common question I am asked when people are considering selling their property is whether investing in additional renovations will produce a more profitable sale. In short, should I spend some money on my home now to make more money when I sell.

The first thing to keep in mind is that every property is different. Some homeowners might need to spend money on their property to make a sale, and others won’t.

And the factors at play are variable. It not only depends on the property’s current condition, but on the state of the local real estate market as well. A high supply of quality stock in your local area might mean you need to spend a little on raising the standard of your home to meet buyer expectations.

There are many different ways that can be used to smarten up a property before putting it on the market. These could range from a basic clean-up job to a full renovation.

The critical factor should be the return on your investment. You must consider whether the cost to improving the look of your home before putting it on the market will result in a sale price that is higher than your renovation investment. There is no science to this and can be somewhat tricky to measure.

A good real estate agent who knows the local market intimately will be able to help you understand the value of the different levels of renovation investment and its effectiveness at sale time. Your agent should be able to answer questions about the state of the market in general as well intimate knowledge of the local competition and what features drive up a sale price. Whether you consider engaging a professional or conducting some DIY renovations, your agent will know what will work the best for you and whether these modifications are necessary in the first place.

It is not a bad idea for you to conduct your own due diligence by visiting comparable homes in your area that are on the market. This will assist you in gauging whether that pergola you are thinking of building will drive up the sale price or whether it will leave you out of pocket.

If you are going to spend money on your home, it’s vital to ensure that this money is going to be put to good use and result in a higher profit at the point of sale.

For details on what renovations in your home could help drive up the sale price, head to my website at www.jenniferpearce.com.au

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