The recent coronavirus outbreak created complications for Australia’s housing market. Some areas saw prices fall, and others saw a boon. Figures from property data analytics firm CoreLogic found that sales took a sharp drop in major cities like Melbourne, Sydney, Brisbane and Perth during early 2020. This was around when COVID-19 restrictions and stay-at-home orders were put into place. However, the report also showed sales picking up significantly towards the latter half of the year.
Some cities, like Canberra, are also seeing a price increase during the pandemic, a far cry from the significant price drops that Brisbane and Sydney continue to have. This makes selling a good option for property owners that want to make extra profit during the pandemic. For some owners, selling is their only choice because over 1.4 million of them are under mortgage stress. Thousands of Australians may end up defaulting when government relief ends.
Whether you’re selling your home for extra profit or out of necessity, you need to make it as attractive as possible to buyers to get a favourable deal.
Here’s a short guide to help you sell your property during this pandemic.
Make value-adding improvements
If you want to attract buyers, you need to make improvements. A home improvement is especially necessary if your property’s old. However, you don’t want to invest in remodels and renovations. They take too long and cost way too much. Sometimes, a simple addition like sprucing up your property border with a privet hedge plant is enough to liven up an ageing home.
If you want to sell quickly, there are some affordable and fast improvements you can make, like:
- A fresh coat of paint – If your home’s walls are looking faded or dirty, it’s long overdue for a fresh coat of paint. Use neutral colours like pure white, beige, light grey, muted green and more to make your rooms feel relaxing. What’s great about this is that you can save money by doing it yourself. Just make sure you scrape out loose or peeling paint with a scraper to ensure your new coat stays nice and smooth. Protect your appliances, furniture and floor with plastic wrap, too.
- Upgrade your lighting – Replace your old bulbs with brighter and more efficient LED ones. You could also install a smart lighting system, which lets you control your lights using voice commands or smart devices. Buyers will love the modern look that updated lighting brings to the property you’re selling.
- Install a fresh new front door – Your home’s door is one of the first things that buyers will see when viewing your home. You don’t want to give them an unsightly welcome with a worn-out or even broken front door. Install a solid wood or steel door that fits your home’s new paint job. Buyers will definitely love the fresh look and sense of protection that comes with a sturdy front door.
Team Up With a Trusted Real Estate Agent
Unless you have prior experience, selling your home on your own is difficult. You have to list your property, find interested buyers, prepare and fill out paperwork and more. If you want to make sure your home sale goes smoothly, you need to hire a trusted real estate agent. When reviewing your prospects, make sure they have years of experience in the field. Call up their previous clients as well to find out what it’s like to work with that agent. With a good real estate agent by your side, you’re sure to get the best deal.
Practise Social Distancing for Every Step
Even though Australia has flattened the curve, you’re still not safe from catching the virus. As such, it’s important to employ social distancing practices throughout your home selling process. Do virtual viewings for interested buyers through video chat applications. If they insist on checking out your home, require them to wear masks and prevent them from touching anything in the property. Have them wash their hands before and after the viewing session, too.
Make sure to clean your home’s surfaces after every viewing, too. Clean them with soap and water and disinfect them with sanitiser that has at least 60 per cent alcohol.
As for negotiations, use video conferencing software like Zoom or Skype. And when it comes to contracts, there’s always e-signatures. Limit physical contact as much as possible to ensure the health and safety of both you and your prospective buyers.
Selling your home can get complicated and difficult, especially during the recent health emergency plaguing the world. You need all the help you can get in the form of home improvements and reliable real estate agents. Use these suggestions to ensure your home is not only attractive but also safe for buyers.