select
|

How to achieve a faster sale in relocation season

“But in order to make the move,” says Harcourts Africa CEO Richard Gray, “most of them are first going to have to sell their existing home – preferably in a quick and clean transaction.

 

“When you are trying to settle into a new job, for example, you don’t want the additional stress and anxiety of waiting months and months for your home to sell, especially if you are now working in a different town. And time and time again we come back to the fact that the ‘right price’ is what will attract potential buyers and get your home sold.”

 

However, he says, most homeowners really don’t know how to determine the right price, and will end up asking for too much, which will put buyers off, or asking for too little and losing out on the deal.

 

“This is of course where the help of an experienced agent with a good knowledge of your local market and recent selling prices can prove invaluable, but even before you call one in, there are several factors to consider which should put you in the right ballpark.”

 

The first of these, Gray says, is the location of the property. “You should consider how desirable your neighbourhood is and try ‘selling’ it to yourself as if you were a buyer. How safe is it? How close is it to schools, shops, hospitals, churches and other facilities buyers may want? Is it on a public transport route? Is it run-down and getting worse, stable or getting more trendy by the day? Are most residents homeowners or are they tenants just passing through? This will help you work out what type of buyer is most likely to be interested, and so what income bracket you should target.

 

“Secondly, you should honestly assess your home in relation to those of your neighbours. Even the best looking house is likely to command a lower price if the other houses in the street look shabby. Similarly, your flat may be in top condition, but if the building looks run-down, you probably won’t get as much as you would have in a better building. In fact, a decline in your immediate surroundings or neighbourhood may be one of the reasons you want to move, especially if you have a young family, and that is absolutely fine as long as you don’t expect fireworks when it comes to price.”

 

The third factor to consider, says Gray, is the home itself. “And here buyers need to know that value has nothing to do with the municipal value on which rates and taxes are calculated, or with the amount for which the property is insured in the event of disaster, or with the price of any new home they are thinking of buying.

 

“Mostly, it has to do with size, condition and design. Your target buyer will initially just be looking for a certain number of bedrooms, bathrooms, and reception rooms, preferably of a good size. Then will come concerns about condition, which is when renovated kitchens and bathrooms could come into play, for example, and only then will come thoughts about the floor plan, with buyers trying to work out where they would place their own furniture and whether they can ‘see’ themselves living in this home.

 

“So once again, your aim should be to pitch your price at the right level for the average income of your target market, whether this is first-time buyers, families, retirees or investors looking for rental properties. And then you can fine tune your ideas with the help of your agent.”

 

ISSUED BY HARCOURTS AFRICA



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK