Why do some homes sell & others don’t?

Have you ever wondered why some homes sell almost immediately while other similar homes seem to stay on the market forever?

If a property doesn’t sell within the first few weeks of going on the market the chances are the asking price is too high. The other possibility that may be deterring buyers is the condition of the home compared to similar priced properties. The appeal of similar properties, even in the same street, can vary greatly. For example, one house may present better or have a better layout. views and outlook can also play a part, as can traffic noise from a busy road. These are just a few factors that can have an impact on the appeal of a property and it’s final selling price. There are however some simple, but essential improvements you can undertake to help you sell.

Buyers are usually willing to pay more for homes that don’t require a lot of work. The factors that affect property values are many and include;

First impressions are critically important, so spend some money to enhance the property’s street appeal. A well designed and maintained garden can make a big difference.

A new coat of paint. This is the simplest renovation and it may give you the best return for your money.

Well cared for and well maintained homes will sell quicker and for a better price than similar properties in poor condition or in need of repairs.

The right renovations done well will enhance a property’s value & appeal. Poor quality renovations or overcapitalisation will have the opposite effect. Be careful with renovations, in my many years in real estate I’ve seen some great renovations and sadly some very poor ones.

Buying a home is an emotional decision. Win the hearts of buyers by giving your home a good street appeal followed by a warm and homely atmosphere when they step inside. Then, with the right agent, you’ll have the best chance to get the highest price possible.

By Paul Kounnas