Your home is likely to be one of your biggest financial assets, but often it’s also the place you raised your children and spent many happy hours with friends and family. Selling your home can evoke strong emotions, but here are a few strategies to help you keep those emotions in check and achieve the best result.
Home vs property
It’s natural to have second thoughts about selling what you think of as ‘home’ and leaving behind all the memories connected with it. As soon as you decide to sell, start thinking of your ‘home’ as your ‘property’ – an asset that you wish to sell and that you want to make as appealing as possible to others who are looking to buy.
Start with a clean slate
When preparing to list a property for sale, it’s important to declutter and depersonalise your home which means removing your family portraits, knickknacks, souvenirs, diplomas and mementos. By doing so, you’re making it easier for potential buyers to envision themselves and their possessions in the house. Packing up your personal items and storing them out of sight early in the process can also help you come to terms with your emotions.
Remember your ‘why’
When you start to second guess your decision to sell, remind yourself why you’re doing it and what you have to look forward to. Make a list of and put it somewhere prominent. Whether you’re downsizing, upsizing, retiring or moving closer to family, keep coming back to the upside and what motivated you to sell in the first place.
Find a sales consultant you trust
Once you’ve made the decision to sell, it’s critical to choose a sales consultant and a company that you trust – someone who has expert local knowledge and keeps you informed throughout the process. Make sure the sales consultant can show you how he or she will maximise competition for your property while minimising any potential complications. Once you’ve found the right person, take their advice on board,
present your property well and you can be assured of a great experience.
Everyone knows just how hard it is to compete in New Zealand’s red-hot property market at the moment, so are there ways to make your offer more attractive and appealing to sellers than all the rest?
Here are five ways that just might tip the balance in your direction.
Tip 1: HAVING THE MONEY UPFRONT:
Getting preapproval for a mortgage before you make any offer on a house is very important. Mortgage lenders can offer fully underwritten pre-approvals, so your credit has been checked and finances verified before you make an offer. Pre-approvals give sellers confidence that you are a safe bet and will complete the property purchase without difficulty.
Tip 2: WAIVING ANY CONTINGENCIES:
Taking away any difficulties that sellers might have will highlight your offer to them. Finance contingencies mean you can back out of the deal if your mortgage falls over, inspection contingencies relate to inspections of the property, and sale contingencies are when you have to sell your existing home before following through with the sale. Waiving contingencies can be risky but can often be completed before an offer is written up so talk to your Harcourts sales consultant about the risks and rewards if you are considering this.
Tip 3: UP THE DEPOSIT:
A deposit on a property is a ‘good faith’ deposit that reserves your right to buy but means you will lose the money if you back out of your contract without reason. If you really want to stand out, increasing your deposit is a good way of doing so and shows the seller that you want the property now!
Tip 4: OFFER BEYOND THE ASKING PRICE:
Cash buyers often come in with lower-than-asking-price offers because of the benefits to sellers. If you have another cash buyer that is low-balling a seller, offering beyond the listing price may be a way of being very noticeable amongst the bidders.
Tip 5: MAKE IT PERSONAL:
How about writing a personalised offer letter to the sellers telling them what you love about the property and why it is perfect for your family and/or pets? You could i nclude photos of your family, differentiating you from other buyers and pulling at the heartstrings of sellers.
Remember, talk to your Harcourts Cooper & Co sales consultant about any questions or ideas you may have on making your offer stand out.
FOMO is beginning to reappear in buyers, according to a New Zealand licensed real estate agent survey released this week. The results show that more than 60% of Kiwi agents have evidence that the ‘fear of missing out’ trend is starting to reappear in the market once again.
The REINZ & Tony Alexander Real Estate Survey for July has reported an upswing in FOMO activity, following a high in February and distinct drops in April, May and June.
While the extent of FOMO is down from the “frenzied” period of activity late last year and through to March this year, the survey says the recent Government tax changes and return
of Loan to Value Ratio rules seem to have increased angst of buyers unable to purchase appropriate property in the current market.
“There is no doubt that the industry is still in a sustained period of price growth, and buyer interest is still high,” Harcourts NZ managing director Bryan Thomson says. “Fear of missing out is a very real issue, particularly with the market pressure of Kiwis who have been based overseas returning with their families to settle back in a safe corner of the world.
“With evidence that property investors have not flocked onto the market with investment properties as threatened after the Government rule changes, the low number of stock for sale will be worrying those wanting to buy property immediately, and FOMO will once again be an issue for buyers.
“This is where the skill and experience of Harcourts sales consultants will be noticeable in the market, working hard to list the best properties so buyers have a good selection to choose from and won’t miss out on opportunities to buy.”
Broken down into districts, those regions with buyers most displaying FOMO tendencies as reported by agents are Queenstown Lakes, Nelson/Tasman, Canterbury, Northland, Bay of Plenty and Wellington.
For two months in a row, more than 80% of agents say their buyers are concerned about a shortage of listings, with other concerns including interest rates falling after making a purchase, jobs and incomes, and high debt.
Other findings are:
• More than half of agents are reporting rising prices on average in their locations – up from 32% in May, meaning prices have not been majorly affected by the combined effects of the tax changes and return of Loan to Value Ratio rules.
• Around 3% of agents report they are seeing fewer investors stepping forward to sell properties (compared with 12% in April), indicating there is no wave of investor selling warned about after the Government rule changes.
• More than 50% of agents say there are fewer investors in the market, with Reserve Bank influence cooling the fervour of investors.
• Around 20% of agents reported less buyers are attending open homes and auctions, although that is tracking upwards on earlier months this year.
• There is a noticeable stepping back of offshore parties interested in buying property
• The highest-rating factor for investors remains low interest rates, the hope of buying a bargain, and investing for retirement.
The REINZ & Tony Alexander Real Estate Survey gathers together the views of licensed real estate agents all over New Zealand regarding how they are seeing conditions in the residential property market in their areas. Topics include activity levels, first home buyer and investor views, and factors which are affecting them.
How to sell your home in Winter
There may not be the frenzy to buy or sell in winter as there is in spring or summer, but homes sell all-year-round. Here are some tips on how to make your home worthy to buy during the cold snap.
1. Make sure your home has plenty of natural light
If natural light isn’t flooding into your home on open days or when potential buyers view the house, ensure all of your lamps and lights are on. It’ll give your home a lift and make it feel bright, spacious and appealing.
2. Get the temperature right
Before the open home and prior to visits from potential buyers, ensure your home is warm. There is nothing inviting about a cold home. Be certain the warm temperature applies to every room in the house, not just the living area.
3. Keep your home nice and dry
Dampness and mould will be noticed straight away by potential buyers in winter. Sort out any issues before buyers start viewing. Ensure you have good ventilation and install an HRV system if you’re happy to invest in it before you sell, it’ll dry out your home and remove any condensation.
4. Make sure its clean on the outside
Get out the waterblaster and clean your home’s exterior, paths and driveway. These can develop green slime and dirt in winter. Be watchful, once removed it can return quickly. Inside, remove any marks on your walls and wipe off fly excrement from your ceiling and light shades. Wash any mouldy curtains and wipe down mould on walls.
5. Embrace the season
Before people come to view your property, light your fire, set the table and celebrate all the wonderful things about being in the comfort of your own home. People will warm to your home if it feels welcoming.
6. Pick the right time
You don’t want open homes and viewings to take place near the end of the day when the sun is disappearing. Ensure they take place when the sun is shining the strongest, bringing out the best in your property.
7. Make a good first impression with street appeal
Avoid any trees or shrubs becoming overgrown. Cut them back to ensure good presentation of your home and garden. Have the hedges trimmed, pull out any weeds, fix the letterbox if it is broken, prune and deadhead plants, touch up any bits of paint on the outside of the house. Indoors, fill vases with fresh flowers for some colourful cheer.
8. Appeal to the senses
Ask yourself how the home feels – warm? Cosy? How does it smell? Light a beautiful candle and let the subtle scent waft through the home. Ensure you have beautiful cushions on your couch and soft blankets on chairs to give the feeling of comfort. First impressions count. Lay down soft rugs on timber or tiled floors for added softness.
9. Create a welcoming entrance
Stand out on your street and have a look at the entranceway to your property. Is it tidy and inviting? Buy some beautiful camellias to grace your entrance or pathway, ensure your berm is mowed properly and paint/fix your letterbox if it needs it.
Blog from Homestolove.co.nz
