Is it better to add value to your home or buy a new home?

Your home is outdated and you’re trying to decide if renovating is your best option, or if you should sell and move to a new property. I get this question a lot from home owners. “If I add value to my home would I be able to sell for more, including all the costs in renovating or am I best to sell as is and buy a new home that suits our needs? My answer is; “if you are happy in your location you are best to stay and renovate. If the home does not suit your needs, you are best to sell and move on”.

There are many factors to consider when deciding whether to renovate or buy a new property. To help you decide, there are three important steps to follow to help you reach your decision.

1)              Be really clear about the type of property you want.

This requires you to think about your immediate and future requirements. Whatever your needs, you should compare and contrast them with your current home to help identify any major gaps or shortcomings.

2)              Compare property values in your street and suburb.

This is a very important step. This goes to the heart of assessing how your property stacks up against everyone else’s, and whether there are any major price differentials. The reason for doing this is twofold. Firstly, to help you decide if it’s worth putting the time, effort and money into renovating, and secondly to help reduce the likelihood of overcapitalizing – that is, spending too much on your renovation.

3)              Do your sums

Once you’ve completed steps one and two, it’s time to start crunching some numbers and prepare a budget. Doing your sums is the financial side of the equation, and is all about letting you know what you can reasonably afford – which in itself may determine your best option.

Whether you renovate or sell, it is often a balance between what best fits your personal lifestyle needs, what’s affordable, what’s less disruptive and what gives you the best chance of long-term capital growth. However, if you plan to sell your property within the next one to two years, be very mindful of undertaking a major renovation project – you need to make sure you can at least recoup the cost of your investment.

If you would like any real estate help or advice, please contact Dianne. Contact her on 5952 5480 or 0408 080 034 www.diannerayrealty.com.au

How to Get Ready To Sell for More

www.diannerayrealty.com.au

Firstly this blog has continued on from my last Blog on Property Presentation. I did say I was going to talk about the importance of photography but need to write more on home presentation because it is SO IMPORTANT. Photography will be mentioned soon.


Secondly Dianne Ray Realty is giving a free complimentary book ‘How To Sell Your Home For More” or “Hot Seller Tips” to sellers who thinking of selling in the next 6 months to 12 months. These books is very valuable and are very worthwhile to have. Send an SMS to 0408034080 with your name, address and contact details and you will receive your choice of either of the free books immediately.
 
Few homeowners ever sell their home for the highest price possible.


Your home does not have a recommended retail price, so if you are in control of the sale, you are able to significantly impact the final sale price you achieve. One of the key ways to sell for more is by knowing how to present your home for sale. By changing its “packaging”.


Have you ever heard about a friend or family member who had a ‘dream sale’? You know, the one where the first person to walk in the door absolutely loved the house and bought it on the spot? Or had three buyers fighting over it, making higher and higher offers?

If you want that to be your experience, you need to focus on that result and Do EXACTLTY WHAT IT TAKES to achieve it.

Yes, it’s finally happened! The real estate industry in Australia has caught up with mainstream consumer marketing. It is no longer acceptable to pass off home’s that are unfinished or poorly presented in the hope that your buyers will overlook these flaws in favour of your home’s more positive characteristics.

Before you do anything, you have to stop thinking of your house as a HOME and start thinking of it as a product on the market. And just like any other consumer product, you have competition and need to give buyers a reason to choose YOUR property over another. One of the keys here is that the right presentation is proven to sell…give your buyers what they are looking for, and your home will get loads of views, competitive offers, and get quickly snapped up – for a premium price!

You can’t use old-school selling strategies anymore and expect to achieve a premium sales result. You must change too. What use to work 5-10 years ago simply doesn’t’ work now. Did you know that over 95% of property marketing is destined to fail?

The evidence is in. here is the thing the big marketers know and use every day. Emotions drive sales.

Daniel Kahneman, a psychologist and Noble Prize Winner, is widely regarded as the world’s most influential living psychologist. His studies conclude that we have two brain systems;

1.      Emotional brain = 95%

2.     Rational brain = 5%

So you are making a BIG mistake if you only sell to 5% of your buyer’s brain.

Listen to what Richard Branson says about using emotional marketing.
“The idea that business is just a number affair has always struck me as preposterous. For one thing, I’ve never been good at numbers, but I think I’ve done a reasonable job with feelings. And I’m convinced that is feeling – and feeling alone – that account for the success of the Virgin brand in all of its myriad forms” – Richard Branson


And Tom Hopkins, well known international sales trainer, and founder of Tom Hopkins International says this: “Arouse Emotions. Don’t Sell Login.”


So the right presentation of your home is critical. Have you ever seen an empty display home? No? Here’s the reason why.

These big marketers create beautiful warm, aspirational display homes for buyers because it works. They understand they are selling to that emotional 95% of your brain. They know that buyers want to buy a “lifestyle package”. Not just an empty shell. Not drab, plain walls, floors and ceilings. And certainly not somebody else’s cluttered and tired old home.

And it’s exactly the same for you when selling YOUR home. The way you live in your home is NOT the way you present it for sale.

Do you want to attract premium buyers – or bargain hunters?

Article from the book “Hot Seller Tips” by Deb Lindner