Latest news with #homeSelling
Daily Mail
3 days ago
- Business
- Daily Mail
Selling your home? Don't forget to stage your GARDEN: From a neat trick with paint to whether metal or wood is better, how to add value for less
If you're poised to put your home on the market, you're likely to have given it a declutter and deep clean, as well as refreshed any tired paintwork. But you may not have given the garden as much attention as you should –which experts say is a big mistake.
Daily Mail
24-05-2025
- Business
- Daily Mail
My wife insists on showing potential buyers around our house - should we just let the estate agent do it?
My wife and I have been trying to sell our family home for more than six months. We're downsizing as my mobility isn't very good any more. Our children grew up in the house and it means a lot to us. We've had multiple viewings, but no offers. My wife insists on helping show around prospective buyers and providing them with in-depth details of the history of the house, family goings on in the place over the years and even highlights renovation work or improvements that need doing. Do you think buyers are being put off by my wife attending viewings? Is it just best to leave viewings to the estate agent and potential buyer? Would this increase our chance of getting a good price for the house and selling it quicker? Jane Denton, of This is Money, replies: Your wife sounds like a great character and that's to be applauded. It's no surprise if you've lived in the home for decades that you've all got a deep emotional connection to the property - and as such, you care about who owns it next. However, if you are both serious about downsizing, sentimentality needs to be removed from the equation. Your objective is to sell your house for the best price possible as quickly as possible. The viewing period is crucial and needs to be conducted correctly. Putting it bluntly, your wife's interventions, while well-meaning, may be putting buyers off, particularly when she's talking about renovation works that needs doing. Buyers will be totting up how much they will need to spend on a property on top of the house price. During viewings, prospective buyers need the space and time to be able to view themselves in your house. They need to be able to imagine themselves living there. I've asked two property experts for their take on your question. Liam Gretton, owner of Liam Gretton Bespoke Estate Agent, on Wirral Peninsula, says: Viewings are one of the most crucial stages of a sale and you need to be strategic about them. How prospective buyers are handled can make or break the experience and, in some cases, determine whether they make an offer or not. It may seem like having the owner present is helpful, however in almost every case, the best person to carry out the viewing is your estate agent, ideally a personal agent who knows you, has read up and learnt about the property and understands your sale. Believe it or not, most first viewings are booked on emotion. A buyer has seen your photos or video tour and started imagining themselves in the space. At this stage, it's about them making an emotional connection to your home. If your wife is walking them through her memories and family milestones, she could be unintentionally breaking this connection. Second viewings are often driven by logic. That's when buyers are considering whether the property would really work for them and delving into the practicalities. This is the stage where, if needed, the owner's insight can add value, answering specific questions about the boiler, the garden drainage, or the neighbour's dog. However, this is only applicable if the buyer is already emotionally committed to the idea of living there. A big mistake I see all the time is sellers getting their hopes up because a buyer was lovely to their face, only for that buyer to disappear without feedback. Why? Because buyers don't want to offend. If you're present, they won't give honest feedback, they won't speak freely and they often won't stay long enough to form a real impression. Some estate agents will say it's fine for sellers to show buyers around and that 'no one knows the home like you do.' However, the truth is it feels more of a cost saving exercise and I see it as lazy standards. Viewings aren't about the property, but about the buyer and their lifestyle, future and vision. It is always sensible to have your estate agent show prospective buyers around. Buyers feel more comfortable and will be more honest. If it's not for them, you want to know quick so you're able to move on. It's also a good idea to block the bulk of the viewings together twice a week. As buyer one is leaving, they are seeing buyer two. This creates an anticipation that the property is going to sell fast and builds more interest. Amy Reynolds, head of sales at Richmond estate agency Antony Roberts, says: Most estate agents will agree that it is far better to let prospective buyers view your home without the owners present. Buyers need the space – both physically and mentally – to imagine themselves living there. That's very hard to do when the current owners are walking them through a lifetime of memories, even if those memories are heartwarming. While your home's history is important to you, the harsh reality is that buyers are thinking about their future, not your past. If your wife wants to share the story of the house, she could absolutely write a brief letter for your estate agent to hand to buyers after the viewing. That way, the emotional connection is shared – but it doesn't overwhelm the practical process of selling. It's also the estate agent's job to tailor the viewing to the individual, they'll understand what's important to each buyer and can highlight features accordingly. They are trained to guide people round, pick up on reactions, answer concerns, and sell the lifestyle your home offers, not just the bricks and mortar. Buyers often want to discuss changes they'd make – reconfiguring rooms, knocking through walls, changing the kitchen – and they're unlikely to speak openly if they fear offending the owner. They may also hold back criticism or questions, which can prevent them from fully engaging with the property. Instead of being present, the best way to help sell your home is to focus on presentation: declutter, refresh paintwork and keep the house clean. If you are willing to invest in the property, ask the agent what cosmetic changes could be made to help improve the outcome of the viewings. A freshly decorated hallway, with coat hooks and space for shoes is always more inviting than walking into a hallway and having to step over and around everything to get into the first room. How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Buy-to-let landlords should also act as soon as they can. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. What about buy-to-let landlords Buy-to-let landlords with interest-only mortgages will see a greater jump in monthly costs than homeowners on residential mortgages. This makes remortgaging in plenty of time essential and our partner L&C can help with buy-to-let mortgages too. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
News.com.au
13-05-2025
- Business
- News.com.au
How much it costs to sell a home in Australia
As the old adage goes, you have to spend money to make money – and in the world of real estate, this certainly rings true. But just how much will you really be up for when you put your home on the market? AGENT, MARKETING AND LEGAL Ray White head of Performance and Recognition Bianca Denham says there are essentially three main costs when it comes to selling a home: the agent's commission, marketing costs and legal costs. In Australia and New Zealand, real estate agents generally set their sales commission within the range of about 2-3.5 per cent, she says, though this can sometimes vary. 'If I was selling a house for $1 million based on those numbers that would be somewhere between $20,000-$35,000,' she says. Considered a 'success fee', the commission doesn't get paid until the house is sold. Marketing fees, on the other hand, are usually required to be paid upfront, she says. 'The marketing fee is an area for vendors to be wary of,' she adds. 'Stay far away': Worst place to put your money While some agencies offer to cover the cost of marketing, Denham cautions against this, explaining vendors might not get the best service under such an arrangement. Marketing is usually provided by a third party, the cost of which is usually itemised and passed on to the vendor. By doing this, the vendor can see the value they have paid for. 'The price of the marketing is very area dependent because the portals will be priced on a click per view type of model,' she says. 'If it's a very heavily searched suburb, the portal price will be more expensive than a suburb that doesn't have many clicks.' 'Generally the ranges around Australia and New Zealand will be from anywhere as low as maybe a couple of thousand dollars through to possibly $10-$15,000 or $20,000, depending on the property.' Legal fees can be anywhere from $2000-$5000 depending on state-based requirements, she says. EXTRA COSTS TO CONSIDER Another expense that many sellers don't think about is the cost of prepping their home for sale, says founder and managing director of Horwood Nolan Ben Horwood. 'The big one that most people spend the majority of their money on would be prep,' he says. In Sydney's inner west where he sells homes in the $3-4m range, vendors generally spend about $30,000-$50,000 getting their homes prepared for sale, doing things such as house washing, painting, window furnishing, floor covering and landscaping. 'Paint, landscaping and styling would be the top three that would make the most difference,' he says. 'It can be 10-20 per cent of the value of the property.' Director and principal stylist of Vault interiors Justine Wilson says the cost of staging a home can vary greatly across companies but is also dependent on the size of the home and style of the property. The average partial style usually costs between $4000 and $8000 for a small home, which is a similar price to a full style, she says. 'A partial style isn't necessarily always the cheaper option,' she says. 'Quite often we're quoting on removing and storing some of the owner's items or the vendor may be looking at their own removal and storage facility, so they're effectively paying double handling. Logistically there's more labour and time.' VALUE FOR MONEY To get the best value for money, it's important to choose your selling agent wisely, says Horwood. 'The number one thing you should be spending your money on is choosing a quality agent that's going to give you good advice around what to spend money on and what not to spend money on,' he says. In fact, by going with a low cost agent who promises a high price, it could cost you more. 'A lot of the time that can lead to extended times on the market because the property is priced too high and not prepared effectively and then it usually ends up costing them a lot more than the difference in the fees for an agent that's going to give them quality advice and get it right the first time,' he said. 'It's a very, very, very expensive mistake to make.'
