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What to Consider when you are selling your property

Posted by Bradley Lee on 06/09/2016
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Your home is your asset

In life and real estate, it is often said that your principal place of residence is possibly your biggest asset. As an industry professional, I find this true for so many people in the community whom we get the chance to represent.

With this in mind, it is important that you do all you can to maintain the property throughout its lifetime, in order to protect and grow your asset. This way, at the time of eventual sale you receive the best possible cash profit from your investment.

Your home could deliver you a tax-free windfall

Selling your home is a valuable opportunity for wealth and profit. Unlike other financial investments, your principal place of residence is free from capital gains tax. Therefore, a chance of a tax-free gain is rare and should be seized with both hands.

Selling is a one-off opportunity for profit

Selling your home presents a unique opportunity to make a good deal of money without you having to sweat for it. Typically every dollar your home sells for over the perceived market value is worth two dollars of your hard-earned labour.

Secure the dollars you deserve for the property you own. You get only one chance to sell for profit and then the value passes on to the next owner – so make the most of it!

Clean and tidy homes sell well

If you do the work for a potential buyer and your property is clean, crisp, complete and:

  • Well maintained and freshly painted
  • Manicured lawns, the gutters and downpipes are free from rust and holes
  • The eaves are spotless and fresh.

All the above points have proven to have a significant impact at sale time.

You have the potential to earn significantly above your expectations. The magic happens when you take the hard work out of the equation. Everyone is so busy, potential buyers are often prepared to pay for somebody else’s sweat and effort. You can profit from that.

A home that does not require work is an attractive prospect

Maintain and preparing your home for profit is a successful strategy for everyone involved. Often incoming purchasers are stretched to their limit and would not qualify for a renovation loan. This is the reason why people will pay more for a finished neat and well maintained property.

A bank will loan on a property’s actual current value. A bank does not favour lending on unfinished or damaged properties. However, if the property has a clean bill of health, the new purchaser is effectively getting a renovation loan on a product with no risk.

This is a win win situation for everyone.

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