Getting ready to buy or sell in Spring
With spring around the corner more properties are set to hit the Sydney market, resulting in opportunities for both sellers and buyers over coming months.
For sellers, it’s no secret that spring is traditionally the best time to list houses for sale or auction, but this year vendors will likely have to work harder given cooler market conditions.
How to sell your home in spring
Vendors know that spring is the time of year when properties can look their best as the weather warms and nature rebounds after the cold winter months.
However, irrespective of the season, it’s still vitally important that a property looks its best at selling time, making maintenance and thorough cleaning a must. This is even more important this year as vendors face the most challenging market conditions in many years.
Australia’s largest real estate group, Ray White, says that in the current market “it’s important that your home is immaculate to set it apart”.
This includes cleaning all windows, curtains and blinds, getting carpets expertly cleaned, polishing all door knobs and tap fittings and ensuring extra attention is paid to the kitchen and bathrooms.
“Following these guidelines can make a huge difference to your home, while only requiring a bit of elbow grease except for the carpet clean,” it adds.
The Real Estate Institute of Australia (REIA) also has a number of helpful tips for sellers at this time of year, including giving your property a good clean, a fresh coat of paint and a “clean up” of wallpaper, tiles and ceilings.
Fixtures and fittings should also be examined closely, REIA advises to identify problems like chipped door handles, broken fly screens and window latches, dirty light switches and dripping taps.
Special attention should also be paid, it suggests, to planting flowers, and making sure existing plants are kept healthy and neat to make the most of nature at springtime.
How to buy a home in spring
For buyers, there are also some helpful hints for spring property hunting, including making sure you’re aware of the extra competition that’s likely on auction day.
To this end, experts suggest buyers monitor competition for properties by gauging how many people turn up for inspections and how many hits a home property online.
Another good idea is to do some solid location and pricing research before embarking on house-hunting and then move fast when you see what you want.
This is especially the case in those areas of Sydney where prices remain resilient and competition between buyers is largely undiminished. Such suburbs include, according to a recent study by research group Location Score, Grays Point, Kingsford, Oatley, Kingsford and Bronte.
It’s also advisable for buyers to have their finances in order and think about using a broker who can advise on rapidly changing bank loan policies.