Over the past few months, we have often been asked the question "is now a good time to sell your house?" Rightly so that you ask this question, because this is a worrying period for everyone, with many uncertainties. The pandemic has disrupted many plans due to people's financial and / or work situation. But it has also provided insights, so that people have actually made plans.
You can wait for better times for a higher selling price for your home, if you currently have no immediate reason to move. But there are also those who want to relocate now, for certain reasons; like a different job, change in family situation or living conditions. However, that does not necessarily mean that you will then sell your home for an unfavorable price.
We see 3 trends why now is the time to sell!
1. There is little supply in certain market segments.
The market has often had bad times, but we still see the effect of supply and demand. As soon as there is more demand for homes in a certain price ranges, you will see that the purchase prices in that segment will be higher. That also applies to neighborhoods that are popular and where people like to live, prices will also rise here. These market forces also exist in times of crisis.
2. Equity grows.
Even if it is crisis time, there are always people who have money and want to invest it, now that saving is not yielding anything; and even have to pay for assets in the bank in certain countries. We see that foreign investors are interested in investing their Euros in homes in the higher segment on the island.
We also see that there are local investments in a second home or apartment to rent out, as a little bit of return always yields more than leaving it in your account in the current economy. Here you can see the price ranges vary, it can be a fixer-upper or an apartment. The uncertainties surrounding the low interest rate and the currency value shows that people prefer to put their assets in real estate.
3. Home buyers are discovering new needs
The Pandemic forced us to be home. There has been less distraction from outdoor activities, leaving us with our focus on our house; our home. As a result, we see that people adapt their housing needs. Smaller living, but more garden; a second home in the sun for when one is retired.
People have more time to look at homes online and form ideas.
In short, we see movement in the market!
If, after reading these developments, you intend to sell or rent your home, we would be happy to make an appointment to discuss your specific circumstances and needs. We can then give you independent advice.
In recent months you have made plans to move, for certain reasons; like a different job, change in family situation or living conditions. However, it may seem that not much can be done in lockdown, but on the contrary, precisely now that we are home-bound, you can prepare for the sale or rental of your home
The market is competitive, and Purchasing a home is both a financial and emotional decision so the look and feel of your home will be an important factor in attracting interested buyers.
Here are a five easy ways to make your home more attractive to buyers
1.First impressions count
First impressions are critical. And the first thing buyers will see is the exterior of your home. Therefore, you want the first impression to be a good one
Make sure your property has ‘curbside appeal’ with a well-maintained fence, driveway, letterbox, front door, lawns, hedging, and exterior. Outdoor living is a big selling point so make your outdoor space inviting.
Over time, you accumulate more stuff in your home, you may not even realize it until you go to move. Clutter will make your home appear smaller than it really is, too much clutter will negatively impact the value of your home. So before you list your home consider the following tips to de-clutter the inside:
a. Three-year rule – if you haven’t used it in three years, toss it, you can always take a photo to capture your memory of items.
b. Sell items on FB groups or donate items to a local charity.
c. Rent a storage unit. If you can’t bear to give something up, put it in storage until you sell your home
Buyers who enter your home want to be able to picture themselves and their personal belongings in the home. Thus, if you have family photos, collections or trophies put them away. Your house should feel like a home, it does not have to be sterile. Once you’ve decluttered, a few personal touches such as flowers, and a bowl of fruit on your kitchen counter, will do wonders to help buyers feel like your property could be their dream home.
Additionally, you can look at this step as getting a head start on packing for your move. Due to your preparation to make your house more appealing for buyers you will have less to do when it comes time to move on to your next home!
3.Freshen up your walls with a coat of paint
What color are the walls of your home? Or, what about the exterior of your house? Although you may love bold, strong colors, others may be overwhelmed. Your goal is to appeal to as many buyers as possible. Therefore, you need to think neutral. This also gives prospective buyers a blank canvas to visualize what they would do with a room. Don’t forget to paint or varnish the doors too.
Remember, you are moving and you will be able to paint your next home whatever color you want! Need some help or advice? Do not hesitate to ask your sales agent for suggestions.
4.Make your home sparkle
A clean house is critical to first impressions. Keep your house clean at all times. For some of you, this will be easy, however, for others this might be more of a challenge. Ultimately, a clean house will be more attractive to buyers. Potential buyers need to be able to picture themselves in your home, so no need to distract them with dirt or rubbish.
a. Thoroughly clean your home, or hire a professional cleaning crew to do a deep clean
b. Wash your windows inside and out
c. Pick up all toys, shoes, and clutter (empty your countertops) and put the items in their proper place
d. Use lamps to brighten dark corners. Place lamps in dark areas to brighten
e. Check your (energy-efficient) light bulbs and make sure they are all working
Be aware of a bad smell, it will quickly turn off prospective buyers especially that of your beloved pet.
5.Do necessary repairs
Buyers don’t want to spend their time or money doing repairs to a home they’ve just bought. In their mind buyers are adding up the costs, and will negotiate this on the sales price of your home.
Walk around each room as if you are the buyer and ask yourself what you would think if you saw any imperfections. If you take care of these items early, then you’ll save yourself money in the long run! Take a really good look around the house, do the doors and windows work properly? Are all the light bulbs lit? Marks on walls? Stains on floors? Fix them now that you’re at home