Especially when you have a house of only a few square meters, it is imperative to know how to show it off to potential buyers: a piece of furniture by Cassina or Poltrona Frau would be more than enough to give it an instantly premium look. Think about it: your property’s aesthetic appeal has a direct impact on how much someone is willing to pay for it. But let's get a better understanding of the best way to go about it right now.
Timing Is Everything
The first thing to keep in mind is timing. Selling in the right market conditions can significantly impact how quickly your property sells and for how much. In Australia, property prices tend to peak during certain seasons. Spring (September to November) is traditionally the most popular time for buyers, as the weather is more favorable and families prefer to move before the new school year starts.
On the other hand, winter months (June to August) tend to see fewer buyers, though this might be an opportunity for you to negotiate a better price if your property is in high demand. Understanding the trends in your area, like whether more buyers are looking for rental properties or owner-occupied homes, can also give you a competitive edge.
Know Your Market Value
Understanding your property’s market value is critical. Setting the right price (neither too high nor too low) can influence how quickly it sells. Use local real estate data to check comparable sales in your neighborhood. Websites like Realestate.com.au provide up-to-date listings, and you can also hire a local real estate agent to perform a Comparative Market Analysis (CMA).
Tips: In addition, keep in mind any tax implications when determining the asking price.
For example, if you’ve owned the property for more than 12 months, you may be eligible for the capital gains tax (CGT) discount of 50%, which could factor into your selling strategy.
Make Your Property Stand Out
First impressions matter. To get the most out of your property sale, you’ll need to make sure your property stands out from the competition. You don’t need to spend a fortune on a full renovation, but investing in a few improvements or even in the right furnishing items can dramatically increase its value.
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- Minor Renovations: Small updates like a fresh coat of paint, new fixtures, or even redoing the flooring can have a significant impact. If your property’s kitchen or bathroom is outdated, take it as an opportunity to invest in a designer Arrital kitchen or modern Henge lighting. These small changes will not only make the property feel fresher, but will also add value to the property as a whole.
- Curb Appeal: Don’t forget the exterior of your property. Landscaping, cleaning gutters, and adding a new mailbox or updated lighting can create a welcoming first impression. Remember, it’s all about creating that “wow” factor when buyers pull up. You can also think about adding a few designer outdoor pieces (such as Paola Lenti furniture) to attract high-end customers passing by. It could be a smart marketing move!
- Staging Your Property: Buyers are often drawn to homes that look well-kept and move-in ready. While hiring a professional stager is an option, you can stage the home yourself with quality furniture. A few pieces from high-end brands like Flexform or Baxter can help elevate the space, making it feel more luxurious and appealing. This can increase interest and the final offer price.
Tax Benefits: Don't Leave Money on the Table
In Australia, you can also leverage tax benefits to your advantage when preparing a property for sale. One common tax benefit for property owners is depreciation. While you might not be able to depreciate the property itself if it's a residential property, you can still claim deductions for assets like furniture, appliances, and some building improvements. This is especially relevant for investment properties.
Note: According to the Australian Taxation Office (ATO), the depreciation rate for items such as furniture and fittings can vary, but properly structuring your claims can help reduce the overall tax burden, increasing your profitability.
By deducting these expenses, you might even find that you’ve earned back more than you thought, which could be reinvested into upgrades for the property before listing.
Use an Auction to Your Advantage
If your property is located in a competitive market (such as in Sydney or Melbourne), consider selling at auction. Auctions in Australia can sometimes generate a competitive bidding environment that pushes the final sale price higher. However, auctions are also a risk. If the property doesn’t attract the right bidders, it may not meet the reserve price, and you might end up re-listing it.
Tips: To maximize your chances, ensure the property is well-prepared and that you have a clear strategy in place. Having an experienced auctioneer can also make a difference in driving up the price.
Negotiate Like a Pro
A key factor in getting a higher price for your property is negotiation. If you’re not comfortable with negotiating, hiring a real estate agent can be invaluable. Agents know the local market, the buyer pool, and how to negotiate the best deal.
Tips: During negotiations, always keep in mind what improvements you’ve made to the property and the potential future value. Highlighting the potential for rental income, proximity to transport, or local amenities can also be a powerful bargaining chip.
Want to Maximize Your Property’s Value Before Selling?
Selling a property isn’t just about setting a figure and hoping for the best. A few smart moves could mean the difference between a quick, profitable sale and a property that languishes on the market. If you're looking to elevate your house’s price (and appeal!), Tomassini Arredamenti is a great place to start. With expert advice, global shipping, and a constantly updated catalog of high-quality furniture, you can make sure your property is designed to impress.
The right investments (even if small) can elevate your house’s value, shorten your time on the market, and lead to a higher return on your investment. And don't you ever underestimate the power of iconic design pieces.
