5 steps to get you house ready for sale
If you are in a stage of planning to sell your house and started to wonder where do you start, how do you start, then the below list of 5 tips might get you on the right track.
1. Understand your property’s value
The first place to start with is to search for similar property and get an idea of how much your property is worth in today’s market. Yes you might start by looking at properties for sale and check indicative price but that price advertised with property not yet sold does not reflect the market price, It’s is still wishing price of the owner. Focus your search on sold properties and compare them against yours. When you compare your property against sold properties, just be mindful to the following criteria:
- Use recent the sale: you don’t want to compare property sold 1 year ago with yours, such date might give outdated information since property market is dynamic. Use sold property in the past 3-6 months maximum.
- Location and proximity to your house: Even within one suburb, distance does make a difference. Minimise your search to 2-4 kilometre distance from your property.
- Condition of the property: consider the style of building, land size, condition of the house, number of bedrooms and bathrooms, any external features such as a garage, garden
Use online portals to access sold properties and compare them against yours. Two useful sites are worth mentioning:
2. Create to do list
Create a check list of all actions you need to do before putting your property on the market. Seller Check list will guide you to do the important things, help you prioritise the task and measure your progress against your plan.
Your check list will include the following:
- Minor and major repairs
- Finding a good real estate agent
- de-cluttering and cleaning
- Depersonalizing your space
- Organizing paperwork
- Home staging
3. Identify your budget
Once you complete your home-selling check list, you are ready to search and identify how much would it cost to market and sell your property.
Note down all expenses starting from preparing your house up to the post sales expenses.
For detailed list and breakdown of all cost associated with the sales, check the other article about cost of selling your house.
Fail to plan is planning to fail, once your plan is drafted then you can have better control over the money you spend and you won’t hit by surprises.
3. Set up a selling time line
Now you got an idea of your property’s value, identified all to- do- list tasks and you kept aside a budget you need, then your next on the list is to have a clear timeline of your sale journey starting from the day you list your property up for sale.
Breakdown your to do list into micro-size action and identify a reasonable listing date (the date you signed an agreement with real estate agent is called listing date). Setting a deadline will keep you well organised and hold you accountable to achieve the outcome on a specific date.
While setting the timeline, consider your own circumstances such as schools holiday, family commitment, finance readiness, planning holiday, and readiness of the place you are moving to.
5. Select real estate agent
Talking to a real estate agent as early as possible will benefit you in multiple ways. An experienced real estate agent will guide through sale process and help you navigate areas you are not familiar with. Consider discussing the following points with the real estate agent:
- What is your property worth in today’s market?
- Advises on improvement to your house
- Current market condition
- Best sales methods ( auction Vs private sale) considering today’s market condition
Based on the discussion with your real estate agent, you will be able to adjust your to-do list and understand if the timeline you have set is achievable or not.