5 Reasons Why You Should Invest In Staging Your Property To Sell

TO SELL YOUR HOME FAST

If you are wanting to sell your home quickly and for the best price possible then staging is definitely one of the easiest and cheapest ways to make it happen. Staging your home ensures that buyers see the property at its very best and can help buyers see what a property can offer. Buyers have the opportunity to see the home without clutter, outdated furniture, and loads of personal items attached to the current owners during open homes and private inspections. Staging creates a great first impression which in turn creates positive emotions and feelings.

STAGING HELPS YOUR HOME STAND OUT

Many home buyers start their property search online and depending on the style of your home, it’s easy for one property to blend into another.  First impressions count and the photos of your property need to stand out from any other.  Particularly when selling a unit or competing with another home in your street.  If buyers don’t like what they see online then it’s likely they will pass on viewing your home in person.

STAGERS ARE SPACE MAKERS

Professional stagers know how to creat space in every room. If your home is on the smaller side staging helps buyers see the space instead of focusing on how small the room is. Staging defines the purpose of each room taking the guesswork out for buyers. A great stager will be able to walk through your home and create a flow that is preferential to most potential buyers. When buyers see space they see their own options and are much less likely to get hung up on the quirkiness, strange layout or a small floor plan which increases their chances of submitting an offer and buying.

STAGERS ARE SPACE MAXIMIZERS

Staging when done well makes the home appear larger. It’s not just about clearing out a room to show the space and make it appear larger – it’s more than that.  It’s about choosing the right sized furniture and then placing it correctly to maximize the space.  The wrong choices or oversized furniture can make the rooms feel cramped.

STAGING LEADS TO HIGHER OFFERS

According to statistics from local home staging companies, staged properties sell for 8-10% higher then unstaged properties. 10% on a $900,000 home is $72,000 to $90,000 and easily covers the cost of having your home staged and all your selling costs.

 

Staging your property to sell definitely makes sense.  Staging will result in a quicker sale and at a higher price and some companies will allow you to pay when the property settles instead of before launching the property to the market.

Let me know if you have any other questions or want to find a stager for your home.

Is it a Sellers or Buyers Market?

 

In simplistic terms, a seller’s market is when prices are going up, and a buyer’s market is when prices are going down.  Another strong indicator has to do with the number of people attending inspections and auctions.

When you see less buyers looking and inspecting properties and fewer people at auctions it’s a buyers market and when you see an over supply of buyers at inspections and auctions, this means it’s a sellers market!

Last year was definitely a sellers market.  There was an over supply of buyers for the number of available properties on the market and everything was selling and for a strong price.  Even if it looked like a knockdown!  In 2021 buyers were suffering from FOMO – the Fear Of Missing Out – and in most cases were offering in excess of the asking prices just to outperform their competition and secure their new home.  But things started to change around December 2021 for Newcastle and Lake Macquarie.  The cooling of the property market here has been so gradual that most potential sellers haven’t even realise it’s happened.  Some still think they will be able to achieve a very high selling price believing there are enough out-of-area buyers to purchase their home.

In fact, the only homes that fall into this category are what I call the ‘AAA properties’!  These are the ones that are well maintained with not a thing to do, beautifully presented and even styled, they are well promoted and marketed and have a great agent who is excellent at negotiations.  These properties are still selling for premium prices and reasonably quickly.

Sadly all other properties are languishing on the market and are having to reduce their asking price.  The only exception to this is are the properties that are priced to sell in todays market.  A market that has fewer buyers and with more properties yet to come to the market creating more competition for the sellers!

At any time you wish to discuss your property or the Real Estate market in general, contact us so that we can help you achieve your Real Estate goals and dreams.

 

 

 

 

Buying an investment property?

When buying an investment property there are going to be a number of different things to consider than when buying a home for yourself. Why are you buying this investment property?  Are you are going to fix it up?  Will you flip it? Or are you going to hold onto the property and rent it out.

When investing in a property, it’s necessary to acknowledge there’s a different set of criteria for choosing the type of property you’ll want. For strong capital growth you need to hunt down a property that will increase in value. This might take some time, but if you choose wisely it will be worth it:

Areas with high rental yields compared to the property price
These are typically properties closer to the CBD rather than on the outskirts of town.

Research recent sale prices for an idea of prices
This can be done simply by looking at the real estate portals under the Sold section.  You can even filter your search by the features of the property and the suburb.

Is there a strong rental demand? Look for tight vacancy
Most tenants want to be close to lifestyle venues and locations like live theatre, bands, cafes, beaches, water ways or sporting arenas.  Places they can walk to without the getting the car out.

Is the property close proximity to schools, shops, hospitals, public transport?
Parents and the elderly often have the need for medical centres and specialists.  They may not drive and are looking for a home where a bus or train is nearby and where parents can walk the kids to school.

What will the maintenance costs be like?
How old is the property?  Does the property you’re considering need exterior painting every ten years or so, or is it brick?  Is it near the beach and salt air? Does it have a swimming pool?  How big are the lawns? Is it two storey?  is it in a strata complex where you’ll have levies to pay?

Are there any nearby developments or scheduled zoning changes? 
New developments can be both a negative and a positive.  What impact will they have?  Casting shadows?  Causing traffic congestion and lack of parking? Improving street appeal and values?  Changing a zone can be very lucrative.  Each council has a different set of zonings so to give you an example let’s use Newcastle City Council where most homes are zoned R2 which means Low Density Residential.  If this was to change to R3, is Medium Density and it now means you could build townhouses on your parcel of land.  R4 means you could build units up to 8 storeys high and a Mixed Zoning means you could have both residential and business!  The more you can do with the block and the more you can get onto it will determine its value.

How many bedrooms, bathrooms and parking spots?
Just because it’s bigger does not mean its better!  Four bedroom homes with 2 bathrooms and 2 lock up garages in Aberglasslyn or Chisholm may give you a weekly rent of around $520 and a two bedroom, 2 bathroom apartment in Wickham with one car space will likely give you back $685 per week but cost the same to buy.

For more information or to have a discussion about your needs, call Annette Pinkerton today.