Let’s be real, selling your house is basically asking for judgement.
It’s an open invitation for the public to come in, sprinkle their opinions all throughout your private (and loved!) space, and to give a few discerning shakes or silent nods as to whether or not they can picture themselves there.
And if there’s one question that every seller asks at some point, it’s how much to spend on sprucing up their property in order to win those offer-making nods of approval.
Should I replace my flyscreens?
Would some modern light pendants add any value?
Will buyers really notice cracks in the ceiling?
How much is too much?
While there’s no one-size-fits-all approach to spending on listing your home for sale (given that every property varies), there are a few handy guidelines to prevent you from over-capitalising on your property – as we explored in our recent post on property styling.
A (good) rule of thumb
If you’re considering a few coats of paint, a deep clean of the carpet, changing old tapware or other minor fix-ups, congratulations! These are excellent updates that can be done without breaking the bank, yet will create maximum impact and really win you a positive first impression with buyers.
In terms of budgeting, Prudential Real Estate typically recommends sticking to a maximum spend of 0.5% of your home’s value. That’s to say, for a property valued at $700,000, we would advise spending no more than $3500 in upgrades.
This will typically give a generous amount to revive even the most tired looking of homes; however, if your property requires structural repairs such as fixing leaks, that budget can very quickly turn to dust.
On the flip side, if you think your property simply needs a freshen up, the good news is that many noticeable improvements can be done relatively easily and on the cheap – most without even touching your wallet at all.
Areas we typically advise sellers to focus on include:
The kitchen
- Replace cupboard handles, and possibly doors and benchtops. For solid timber doors, good quality paint can be applied to these instead of replacing them, for an inexpensive enhancement.
- Invest in a modern dinner set to use for the staging of your home during an open home event.
- Wash cupboards inside and out (yes, right back into the corners).
- Remove any clutter from the face of your fridge (a big one for photos!)
Bathrooms
- Replace towel rails and/or tapware with new sets.
- Give your tile and shower grout a deep clean, to brighten and remove mould.
- Opt for a fresh matching set of towels for photos and opens.
- Scented candles can add a touch of homeliness.
The exterior
- Garden – mow, rake leaves, trim the edges, and fertilise the lawn.
- Add some colour with new plants, either bedded or in pots.
- Remove spots from the driveway, and make sure garage doors open freely.
- Invest in a nice welcome mat.
The best FREE fix-ups that create impact:
- Wash all windows, doors and glass panels.
- Clear all clutter, and keep belongings to a minimum.
- Mow the grass and weed.
- Oil any squeaky doors.
- Repair damaged flyscreens.
Depending on the market, some buyers will attempt to shave thousands of dollars off their final purchase price, due to things they notice – a leaking tap, squeaky floorboard, or stain in the carpet, for instance. So for a bit of money and effort, it’s definitely worth freshening up the look of your property, to increase your chances of a higher offer. However, it doesn’t mean you have to spend the big bucks.
Above all else, the most important thing is to have an expert agent come and inspect your property before you begin, for a no-cost assessment that can equip you with tips and tricks to maximise your sale price – simply contact your local Prudential Real Estate office below, for us to organise this for you.
We’ve outlined all of these tips plus so much more in our comprehensive digital guide: 73 Quick & Easy Fix-ups to Sell Your Home.
To access your FREE copy, simply email us at freereports@prudential.com.au, and we’ll send it straight away to your inbox, hassle-free.
Prudential Real Estate Campbelltown | (02) 4628 0033 | campbelltown@prudential.com.au
Prudential Real Estate Liverpool | (02) 9822 5999 | liverpool@prudential.com.au
Prudential Real Estate Macquarie Fields | (02) 9605 5333 | macquariefields@prudential.com.au
Prudential Real Estate Narellan | (02) 4624 4400 | narellan@prudential.com.au
