While there is an anticipation of a post-election rebound in the economy and property market as certainty and stability return, it will take time before we can expect a resurgence in price growth.
Sentiment is expected to improve on the back of what is seen as a successful election and continued focus on reform by President Ramaphosa. We therefore anticipate that buyers who have been sitting on the fence, waiting to see how the elections pan out, may now feel more confident about getting back into the market, but they are likely to still look for a good deal.
That said, both ABSA and FNB recently pointed out that there is now an oversupply of properties on the market. In a buoyant market with an abundant buyers, it is much easier to attract offers because buyers will be vying for a limited pool of properties. When however, there is an oversupply of properties, staging your home may well give you the advantage of receiving an offer ahead of competing properties.
Buyers are usually eager to find fault with a property, so when you're selling, you want it to look its absolute best for potential buyers who walk through the door. A neat and well-staged home captivates the attention of buyers and enables them to picture themselves living in the home. It is often a differentiator for sellers, but a little decluttering is not always enough to sell your home. If you are serious about selling, turn your home into a showroom.
According to a USA-based National Association of Realtors' Stating Stats Report, 49% of agents believe home staging affects how the buyer views the home, 77% say it makes it easier for buyers to visualise the property as their own, 21% say that it can increase the value of a home by 6%-10%, and 39% say it greatly decreases the time that it takes to sell.
These are powerful statistics which illustrate just how important it is to present a home in showroom condition, not just for the show days, but also for photographs which will enable prospective buyers to do a digital "walk-through", and if you catch their attention here, you may well be halfway to getting an offer.
If you are serious about selling, then it is important to remove the emotion out of the equation and look at your property not as the place where you live, but as a set to be dressed for potential buyers to imagine living out their dream. While staging can be done by a decorator, you can just as easily do it yourself.
Start with a spring clean followed by a thorough patch and repair. Keep the paint and décor fairly neutral. While bright colours help people express their personality in their homes, they can be a major turn-off and can distract from the value that the property offers. Ensure the garden and outdoor areas are neat and welcoming.
For photography or show days, prepare your property as if you are receiving important guests. Put out fresh flowers, a tray with cups and coffee or tea, and perhaps even a few biscuits. Put fancy towels in the bathrooms and display a few candles. Put out a few décor items and soft furnishings to "dress" up the property. Ensure all clutter is removed, especially in the kitchen and bathrooms.
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