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November 26, 2015

5 Frequently Asked Questions in Real Estate

Here's five of my most frequently asked questions about real estate in Carina, Brisbane including whether or not you should renovate before you sell and the best time of year to sell.

1.What is my house worth?

Of course, the most frequently asked question that I get.

Not only is it the most frequently asked, there is no single answer! Your agent has access to a number of sources of data which they will analyse. But a property’s likely selling price cannot be determined by data alone. A good agent will know their market well enough to factor in current market conditions, and will know your buyers and the sentiment and expectations of those buyers.

At the end of the day, your property is worth what someone is prepared to pay for it, but many factors can and will influence that price.

2. Should I renovate before I sell?

Market conditions, the property’s age and condition and the seller’s expectations will all influence whether the answer to this question is yes or no.

Remedial work really must be carried out prior to sale; so repair anything that’s broken, make sure any work done has council or building approvals in place and ensure the property is in good working order.

Remember that renovating the property prior to sale can be both costly and time-consuming, and there may be no guarantee that you will recoup the cost at the end of it.

3. Which areas should I renovate first?

Bathrooms and kitchens are sure to give the biggest bang for your buck in terms of dollars spent and buyer satisfaction, but keep it simple and of good quality; I have seen brand new kitchens in skips the day after settlement,

In-ground pools can add value, but are not everyone’s choice due to their running and maintenance costs.

A COVERED outdoor area is important in Queensland and can be a worthy investment.

Always remember to keep to a neutral palette of tones and colours and avoid any quirky or eccentric choices – not everyone will appreciate those purple kitchen cupboards the way that you do!

4. When’s the best time of the year to sell?

Market conditions can change from month to month, let alone from season to season, but Spring and Autumn are the most popular times to sell. Bear in mind though, more available buyers will probably encourage more stock to the market at those times; increasing your competition. Many factors play a significant role in determining when people choose to buy and sell, so this means that it is possible to sell a property at any time of year if necessary.

5. Why should I auction my property?

Auction is just a method of sale, and in many cases will only differ from Normal Sale by the cost of the auctioneer. In some suburbs it is more prevalent than others and works better. In other suburbs it is seen as a means for fire-sale properties so beware.

It really will establish a property’s true market value; so in the case of deceased estates or acrimonious separation, there can be no argument.

For those having to sell to a deadline, it can draw your campaign to conclusion on a finite date.

Last but certainly not least, vendors have the opportunity of a CASH UNCONDITIONAL CONTRACT.

 

Photographs taken by Shae Style Photography.