Recent Buying Selling Lifestyle Investor Tenants
Recent Buying Selling Lifestyle Investor Tenants

5 frugal tips to boost your property's selling price

If you’re putting your property up for sale this spring, it’s well worth your time setting aside a weekend to spruce your home up a bit before the auction date rolls around. And the good news is, you don’t have to spend a fortune to boost the value of your property and snag an excellent sale price - you just need to apply a bit of elbow grease.

Here are some budget-friendly projects to have your property looking, spic, span and auction-ready from the get-go.

1. Put your best foot forward. First impressions never count more than when you’re selling a home, and what’s the first thing prospective buyers will see? The front yard and front door. Make sure the yard or garden is neatly trimmed and manicured - dead rose bushes are a turnoff for anyone - make sure your welcome mat is clean and tidy and your door is in good condition. The last thing you want is to scare buyers away before they even make it inside.

2. Tap into your inner handyman. If you’re looking to sell this spring, it’s time to finally fix that squeaky floorboard and cracked windowpane. Little things like that may have faded into the background and not have bothered you while you were living there, but they can present a red flag to buyers. If small things are wrong, they might wonder what bigger structural problems a house has, particularly for older properties. So strap on your tool belt to keep things cheap, or hire in a professional, but make sure you get any niggling little repairs taken care of before the open house.

3. Get scrubbing. Mozo research found that mould was one of the biggest property turn-offs for prospective buyers - and it’s no surprise. Perhaps the best thing you can do to increase your home’s potential is to give it a thorough clean from top to bottom. I’m talking steam clean the carpets, scrub down the walls, scour the oven and clear out the gutters. You can do this yourself or get it done professionally, depending on your budget, but it's a crucial step you cannot afford to miss.

4. Declutter your space. Even if your house is spotless and perfectly maintained, clutter can make it far less appealing to buyers. If possible, it’s best to shift most of your belongings either into your new home or into storage. If that’s not an option, try to keep things tidy, with personal belongings collected into one room, or put neatly away in their rightful place. Shifting large furniture into storage or the garage can also make a huge difference to the space, keeping your home looking, airy, open and inviting for buyers.

5. Splurge on a fresh coat of paint. If the paint on your walls is stained, peeling or an awful colour, a fresh coat of paint might be a necessity in order to get a good sale. The cost of a coat of paint can usually be easily outweighed by what you’ll add to your sale price. But even if your walls are in relatively good condition, fresh paint can be a real pick-me up. Stick to neutrals for the main parts and classic colours for details and features - orange might be your absolute favourite, but it's much easier to sell a house that looks more like a blank canvas than a picasso.

Steve Jovcevski is Mozo's property investment and lending expert. With an extensive knowledge of home loan products and property trends, Steve is full of practical tips to help first homebuyers, refinancers or investors build and get the most out of their property portfolio.

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