ANSWERING THE NEXT QUESTION CORRECTLY COULD MAKE YOU $1,000’s
Should you market a home to sell when empty or furnished?
Without thinking too hard most people would quickly answer, FURNISHED, but rarely are things that simple especially when it comes to the crunch of having to make this decision in real life with real dollars at stake.
After you have spent all your money and done all the hard work of renovating and after you have made all the even harder decisions of what NOT TO DO so as to keep your renovation viable often the last thing anyone then wants is to toss away even more money on getting furniture to just sit around and look pretty.
Let’s face it, many real estate agents advertise empty properties and they definitely sell so why doll up a house with expensive furnishings?
The simple fact is that to get the best price in the shortest possible time every property needs to be presented at its best and furnishing is the key. But how can you be assured of getting more money back than the furnishings cost?
The key is to hire a professional stylist who knows what works and knows what to spend on and when to stop spending to achieve the maximum return. So this last expense of presenting the property to your buyers could become the single most profitable thing you do.
It’s human nature to think that we, as individuals, can do a better job than various professional; ‘If you want a job done right then do it yourself’ is a common motto or as I use to say when doing my own car repairs, “I can make my own mistakes for less than what a garage charges”.
But there are just some people in this world who have ‘the knack’. I know how to lay concrete, replace an exhaust system and fix tiles to walls and floors but over the years I have decided that ripples and waves are best reserved for the beach.
At Adelaide South Property our experience has been that any home will sell faster for more when a stylist has been engaged and we can recommend the styling services of Wendy O’Connor from Property Presentation Plus to showcase its best features.
They have a gaggle of builders, gardeners, carpet layers and general trades that can give you the best bang for your buck. We have seen so many home owners over capitalise on these sorts of finishing touches whilst missing those things the market demands most with a net result of wasted money and ultimately frustration.
We recently appraised a very run down home in Hallett Cove at $290,000 then we called in Wendy to consult on site with the owner. She recommended a budget of about $14,000 which included new carpets, select painting, new light fittings, a sky light, extensive landscaping, removal of part of a wall and of course the hire of furnishings. Even the neighbours were amazed at the transformation.
We got a sale in the first weekend for $355,000. This was $65,000 above our initial appraisal and represented a return of up to $5 for every $1 spent. It far exceeded the owner’s expectations.
Every business that becomes successful uses professionals like tax accountants, bookkeepers, market analysts, advertising companies or media consultants but a business that always follows a do-it-yourself philosophy will remain small.
Anyone can stick a lump of furniture into an empty room but the only way to find the best options for the place you want to sell is by using the services of a stylist like Wendy who has ‘the knack’ and the know-how to make your place look like a home.
Just remember that this should be done in conjunction with the right real estate agent who can give the right price guide to assist in setting a styling budget.
If you would like to find out more ring Wendy on 0410 343 248 or ring us on 8186 2777
0414 969 490