Imagine landing your dream job interstate. Your start date is in four weeks’ time and apart from having to organise a new place to call home, you’ll also have to go through the process of selling your current property. Sounds like a nightmare? It doesn’t have to be.
The reality is, whether or not you’re thinking about selling your property in the near future, your home should always be ready to sell.
Being sale ready doesn’t mean having your belongings packed up in boxes or only using one room of the house to minimise wear and tear, it’s about keeping your home in tiptop condition and being aware of the local state of the market. When the time comes to sell, you’ll be able to move faster through the sales process, save money on modifications to your home and seize opportunities for growth.
We have handpicked some reasons why you should always be ready to sell.
As our lifestyles change—which they can very quickly—so too should our houses. The days when people would buy one home and live in it their entire lives are long gone. Today, it’s more likely that you will own a number of properties at different stages in your life.
A home that suits a single young professional, or a couple with no kids, might not be appropriate when they decide to start a family. Likewise, a large 4-bedroom home might not be the ideal property for a recent retiree who is looking for a lock-up and leave lifestyle that will allow them to travel without needing to worry about taking care of a such a large property.
Other unforeseen events might cause the need to sell—an exciting new career opportunity in another state or a relationship breakdown. If you are already in a position to sell, these transitions will be easier, less time consuming and less stressful.
When your local property market is experiencing a strong growth period or a lot of demand from buyers, it can be a great time to sell and relocate to a different area or downsize into a smaller place.
Home owners will often see a high level of interest in a neighbour’s property and realise they have an opportunity to capitalise on that demand. If you are ready to start the selling process, it makes it a lot easier to take advantage of that buyer interest.
Increased demand from buyers may mean they are prepared to offer more, leaving you with a nice tax-free sum. Unlike other investments, selling your primary place of residence doesn’t attract capital gains tax or stamp duty. Any profits from your sale are yours to keep, so it makes sense that you’d want to do everything to take advantage.
Keeping your home in great condition so it is ready to sell at any point is a great way to protect your investment and maximise its value. Regular, long-term maintenance such as carpet cleaning, garden upkeep and air conditioning service may mean fewer major repairs and less work to get your home ready for the market.
Buyers will often pay more for a well-maintained home because they won’t need to do extra work. They may also view minor flaws more seriously than you do, and they might question what other problems there are that they can’t see.
Part of achieving a successful sale is making things easier for the buyer. Keeping your home in great condition takes a lot of the worries and stresses away from them. Firstly, they won’t need to worry about applying for additional renovation loans and secondly, the buyer may be more confident with the sale, which means a smoother process for everyone involved.
If you’d like to get started on getting your home ready for sale, check out our Spring Into Spring with these home preparation tips.
If you want to learn more about why you should be sale ready, talk to the team at Peter Blackshaw Real Estate today.