Top tips for selling the family home
By REIQ Media and Communications Manager Felicity Moore
Selling the family home is a big step, and for many people the decision to sell is understandably difficult. After all, our home is a sanctuary, it’s where we raised our family, and it’s where we can truly be ourselves. We form deep emotional connections with our homes and deciding to leave all that behind for somewhere new can be challenging.
But as our circumstances change, our homes no longer become fit for purpose and it’s clear that it’s time to move. For many, this decision is closely followed by the next difficult decision – when should I sell to ensure maximum sale price?
The reality is that the best time to sell is when you need to sell. This is also true of buying. While it’s true that housing markets are very broadly cyclical, it’s also true that things happen to knock us out of the cycle, such as the GFC or resources downturn. It’s impossible to pick the bottom – or the top – of the market until it’s in the rear-view mirror. So, waiting for the perfect time to enter the market is not advisable.
The southeast Queensland real estate market
Property forecast in the national broadsheets are focused on Sydney and Melbourne and don’t consider the growth and economic strength that exists in Queensland. Together, the Sydney and Melbourne markets make up about 60 per cent of our national housing market and, understandably, they draw the focus of the national media.
The engine driving Queensland’s property market is powered by the three strongest performing markets of the southeast corner – the Sunshine Coast, Brisbane and the Gold Coast.
These markets have delivered consistently strong house price growth over the past few years and are the envy of the southern markets.
The Gold Coast growth is still strong. In the 12 months to September 2018, the Gold Coast’s median house price grew 3.8 per cent to $629,000.
The Brisbane market grew 2.3 per cent over the same period to an annual median house price of $675,000. This market is a steady and sustainable performer and has delivered growth of around 2 to 3 per cent over the past five years.
Turning to the Sunshine Coast, house owners have benefited from annual growth of 6.3 per cent. This level of growth is extraordinary and is part of a consistent upward trajectory for this market. Supply is tight and demand is high, which pushes the price up.
4 tips for maximising your sale price:
1. Bring in the professionals: If you want the best results then it’s time to call in the professionals to help you sell your property. An experienced agent will be able to help you make decisions and choose the path that’s best for you and your circumstances.
2. Presentation is key: You only get one chance to make a first impression and that moment is the moment your potential buyer pulls up at the kerb (even before they step out of the car). Make sure the gardens are well maintained and tidy, the lawns mowed, and the house freshly painted, if the budget allows.
3. Stand out online: Most people choose to list their property on a listing portal, such as Realestate.com.au. If this is you, then the best advice is to hire a professional property stylist, a professional photographer and a professional writer to write the property description. And make sure you include a floorplan!
4. Consider auction: Many property experts agree that the only way to truly maximise your sale price is to consider sale by auction. By bringing together competing buyers you have the best opportunity to increase the final sale price.
Selling your home is a big step. Make it as hassle-free as possible by bringing in the experts and trusting their advice. Good luck as you embark on your next chapter!