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most. Drastic and costly renovations will not necessarily result in the property being scooped off the market as this affects asking price or value return.
Where renovations are costly this will inevitably result in a high asking price above the road average, giving potential buyers several cheaper options on similar properties.
It is important to appreciate that different buyers have different tastes and it is prudent to leave the major renovations to the buyers. Once the renovation basics are adhered to, the property will sell itself.
What are the basic renovations then? We will start with the interior of the property. The floors just have to be intact.
It is surprising, the effect floors can have on the psych of a potential buyer. If the floors are parquet or timber, they have to be re-polished.
If carpeted then the carpets have to be clean.
The walls within have to be repainted if they have marks on them, however, if general cleaning can achieve the same results then it is cheaper to wash the walls.
If the windows are old and showing their age then it’s best to replace them, however, if they are still in good condition then a general cleaning and painting of window panes will suffice.
Although most buyers are concerned about the state of the kitchen and bathrooms, these areas should be renovated if they really need a revamp, otherwise a general change of old flashing systems and fixing of cabinets that are not in good repair is cheaper and allows the new buyer to make own renovations that suit their taste.
Concerning these areas of the house, people are mostly worried about cleanliness and size.
It adds impetus to the sell if there is no need to redo these areas considering that the buyer would have just paid a sizeable amount for the property.
An intact roof is always a good selling point. If the property has suffered from geyser or roof leaks in the past that have stained the ceilings and have since been repaired, painting or replacing the ceiling in the room with the affected ceiling is recommended as it saves the seller from always explaining the reasons why the ceiling is in the state that it is.
This has the potential at the time of viewing property to create doubts and offer ammunition to the potential buyer to negotiate for a reduction on the asking price.
Where the inside of a property is immaculate, it is imperative that the outside reflects this. What is important is to create the “gate or entrance appeal”.
When the potential buyer drives up to the house and the buyer is still outside the property, the property must appeal to them as much as possible to create expectancy.
If the house is desperately in need of a paint job then painting the whole house cannot be avoided. However, if not, one can do other things that take away attention from the paintwork of the property.
A little art adds uniqueness and mystery, in some cases it can a singular selling point.
If there are many trees at the property ensure the roof and gutters are free of debris. A painted roof is always a lure, but a clean roof is a charm.
If there are exterior security features on the property like burglar bars, make sure they are fixated securely to the house and not just hanging loose. If they are rusty then a clean new coat of paint is a plus.
Keep the lawn mowed and neatly edged. A nicely mowed lawn does wonders for gate appeal. Therefore, while the property is on the market, it is a benefit if one mows a little more frequently although this might depend on the season.
If the lawn is in bad shape from years of neglect, then a month before deciding to put the property on the market, one might have to lay down fresh sod in the hope that the grass will have grown by the time the property is on the market.
A couple of garden chairs or benches well positioned to allow the potential buyer to imbibe the ambience of the property are an advantage.
Bright coloured flowers are good to the eye and make people feel relaxed with the property. Trimmed bushes and trees reflect the current owners care for the property.
Remember, people will see the outside of your house before they see the inside. If the home’s exterior makes a bad first impression on potential buyers, they will carry that negativity inside the house with them.
Sometimes it is a plus to engage professional help that specialises in renovating for sell as it improves the property turnover period and most instances the value of property.
Vengai Madzima is a property investment consultant and analyst with Wisdom Properties. He can be contacted on 0772 468093 email: [email protected]
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