Many believe that the season you buy and sell property in has an impact on your level of success. But, this could not be further from the truth.
Buying and selling at any time during the year is favourable. This is providing that you do your homework beforehand. Failure to crunch the numbers and to look at previous sales data may leave you out of pocket.
Realestate.com.au data states that two of the most popular times of the year to buy and sell property are in March and in May, with new property listings increasing during these months, as well as website hits.
Entering the Market as a Seller
If you’re entering the property market as a seller this autumn, then consider what makes your home more attractive to a potential buyer. Then use this as a drawcard.
Create a grand entrance – Your front yard and home entrance should be inviting. Adorn doorways with potted plants, and freshly paint your door, if it looks tired. Consider adding new plants that add vibrancy to your garden and top up any garden beds with fresh mulch.
Home interior – Consider painting rooms in neutral colours if they’re bright and bold. If you don’t have a focal point in a room, then add a feature wall. Clean all doors and windows, fill-in any cracks and repaint, if needed. Make sure you use a low-voc paint, these are relatively odourless. Give all rooms a lived-in, but tidy appearance.
Kitchens and bathrooms – These rooms are the heart of your home, so make them fresh and inviting. Remove and replace any old wet area filler that is mouldy or past its used-by-date. Fix cracked or chipped basins, baths and toilets. Consider replacing old cupboard doors and handles. Repair floors and bench tops and polish.
When making any changes to your property for sale, think re-sale value. Be cost-effective and give yourself a set budget. Only concentrate on those items that increase value, not on those that you personally don’t like.
Entering the Market as a Buyer
If you’re entering the property market as a buyer, then look at as many homes in as many areas as possible. Get a feel for locations. Know what represents value, and what doesn’t. Collect home sales data for the areas you like.
Autumn represents a good time to enter the market as the hype from spring has passed, and some sellers are open to negotiation as their homes have sat on the market for some time. Home prices are also rising, so buying sooner, rather than later, may mean that you’ll save thousands later on down the track.
Before you buy, work out how much you can borrow and calculate costs, such as stamp duty, building and pest inspections, and loan application and establishment fees. This will help you to avoid higher than expected costs, and allow you to determine which homes are affordable.
Do you want to know more about home loan finance as a first home buyer? If you said yes, then contact eChoice and find the right home loan for YOU today.
Written by eChoice