Property Advice

These practical tips will help you to accurately price your home for sale

Article by Property Press

There are some important steps you should take before putting your home in the market. Here’s how to get a good idea of how to much to list your home for

When you are selling a property it is vital that you arm yourself with information on your local market, know what prices are being achieved for similar properties, what else is for sale offering comparative features, and what makes your home unique.

It isn’t enough to pull a fanciful figure out of the ether and determine that this is the amount of money you need to sell your house for. It may be relevant to you, but it isn’t to buyers. They will have been looking at other properties in the area, know what they are selling for and what is a realistic price range. Be careful not to price yourself out of the market — or undersell — by not being aware of the current climate for sales.

It’s important that you:

  • Visit open homes in your area. It’s not enough to scroll through online property listings. These give an indication of what a property is like but often can be deceptive about important details that will affect buyers’ decisions. By visiting open homes in your area you can assess important features such as:
    • Condition of surrounding properties, closeness to amenities, amount of traffic in the area.
    • Natural light in rooms, outlook from each of the rooms, orientation to sun throughout the day, aspect of outdoor areas, closeness of neighbours to all boundaries, state and extent of fencing, street appeal, access to site and positioning of house on site, condition of exterior and driveways.
    • Layout of the interior, size of rooms, how the living spaces are connected or possibilities for changing this, indoor/outdoor flow, quality and condition of wall treatments, flooring, light fittings and appliances.
    • Extent of utility spaces. Separate laundry/utility rooms, storage space, good garage space with room for a workshop or one that has already been set up, designated space for clotheslines and rubbish bins.
  • Assess agents: Choosing the right agent to represent your house is a very important decision. Most agents have areas that they operate in — they know the local market, and often have a base of buyers looking for homes in particular neighbourhoods.
    • When looking to appoint an agent they will come and present you with a detailed campaign but how do they actually perform when conducting open homes and discussing properties with buyers? Visiting open homes before the agent knows you are a potential vendor is a valuable way of learning how effective they really are and how they compare in relation to other agents.

All these things help to determine the value of a property and its attractiveness to buyers. If your property does not make a good comparison with others for sale in the area when you consider these features, or is far superior, then you can more adequately gauge an achievable price range.

Words by: Sarah Beresford. Photography by: Tom Hollow/Hollow Creative & Jeff Brass/bauersyndication.com.au.


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