Selling in a buyer's market? Think like a buyer

Armed with a near five-decade low interest rate, lower transfer duty and improved affordability, the odds are now firmly in favour of buyers. Chances are that we will head out of the Covid-19 Lockdown with increased stock levels giving buyers a lot more to choose from.

According to Seeff Properties, given that the bargaining power in the property market will likely be in the hands of buyers, prices will naturally come under pressure.

While not ideal for sellers, the flipside is that if you sell now, you too can take advantage of the favourable buying conditions. Nonetheless, regardless of your reasons for selling, you should always put emotions aside, take your homeowner’s hat off and put a seller’s hat on.

Once your property goes onto the market, it is no longer your home, but a product which needs to appeal to a buyer to be sold. For that to happen, you need to understand what buyers look for and what will put them off.

If a buyer can find fault with your property, you can be sure that they will want to knock quite a bit off your asking price. It is therefore best to ensure that you present your property in the best possible way.

Repairs and decluttering are inexpensive ways to make your property as attractive as possible. Work with what you have and aim to spend as little as you need to. Don’t bother with renovations as these will seldom get you a better price.

Follow these ten tips from Seeff:

Tip 1 - Declutter, especially ornaments and pot plants and remove any artificial flowers and plants.

Tip 2 - Remove big bulky pieces of furniture. Too much furniture in a room can make it look small, so keep it as minimalist as possible.

Tip 3 - Replace dim light bulbs with inexpensive bright globes, especially if your home is older and has small windows.

Tip 4 - If there are carpets, get them cleaned professionally. Curtains should also be laundered.

Tip 5 - You don't need to redo the bathroom, just make sure it is clean and tidy with no clutter. Clean tiles thoroughly and regrout. Replace old shower curtains.

Tip 6 - The kitchen should also be thoroughly cleaned, especially the stove and declutter as much as possible. Fix all broken hinges and door handles.

Tip 7 - Walls, ceilings and light fittings should also be cleaned.

Tip 8 - Tidy the garage, people want to see the space.

Tip 9 - Tidy the garden, trim back hedges, clean fishponds and the pool.

Tip 10 - Polish everything so it looks nice and shiny.