How to Maximise Your Home Value Before Selling : 6 Simple Steps
TLDR When looking to sell your home, consider simple ways to boost its value without costly renovations. Organize living spaces,...
Read More
TLDR
When trying to sell your home, ensure it is competitively priced based on its unique features and the current market trends. High-quality photos and staging can significantly enhance the appeal of your property to potential buyers. Additionally, maximizing natural light and addressing minor repairs can make your home more attractive. Consider these factors carefully before deciding whether to buy, sell, or wait in the real estate market.
Your home has been on the market for a while now but it’s taking longer than expected to receive the ideal offer. It’s not a great sign if it’s taking so long to be sold – the longer it stays, the more potential buyers could infer there might be something wrong with it. If your house isn’t selling, here are some potential causes and how to combat them.
1. Your House Is Overpriced
One of the key explanations why your home isn’t off the market yet is that it is priced too high.
Recently, you’ve been aware that certain HDB flats in more outside central regions were sold for a million dollars. Even more surprisingly, a flat in your neighborhood achieved this same amount.
This makes you contemplate that you could list your flat at the same price, however, if your flat is a 1,300 sq ft 5-room property in Yishun while the million-dollar flat is a 1,900 sq ft executive flat, prospective buyers will immediately be deterred and decide to walk away.
Don’t be swayed by the high price of a property nearby – if your home doesn’t boast similar advantages, such as a generous floor area or a fresh renovation, it won’t fetch the same price. You can check with me with your estimated Property Valuation to ascertain the correct rate for your house, and keep a tab on similar properties in the area to get an understanding of the real estate market. Don’t let that one sold-at-a-staggering-price home distract you!
Take a peek at what other houses are listed around you. Does your price tag reflect the average prices? If not, it may be time to lower the price and increase your chances of finding the perfect offer instead of waiting for months on end with no offers.
2. The Photos In The Listing Are Bad
Nowadays, potential home buyers flock to property portals like 99.co, and the first thing they notice are the photos of the property. Thus, if you have a listing on such portals, make sure the images aren’t blurry or dark, as this can discourage buyers from considering your house. With so many properties having beautiful pictures, buyers are likely to pass over listings with inadequate photos. So, if you think the photos of your home don’t do it justice, speak with your agent about replacing them for a more attractive presentation.
Take your listings to the next level – why not add a video? Creating an engaging video for your property has never been easier, produce video listings in no time, and get more leads in less time.
If not, it might be wise to consider enlisting the assistance of another agent who could assist you in showcasing the property in the best possible light, perhaps even enlisting a professional photographer to take pictures for promotional materials.
3. Your House Isn’t Staged
If your house doesn’t seem very appealing to potential buyers, it might be because of the matching chairs and couch in the living room, or because the kitchen counter is cluttered.
Either way, people can’t imagine living there. So they don’t bother to visit. One solution to make it more attractive is to stage it, not only for the photos for the listings, but also for the visits.
Enhancing the look of your home with furniture, decorations, and plants is a great way to help potential buyers envision themselves living there. A property agent can provide valuable tips for how to effectively stage your home. If you need extra help, many agents offer professional home staging services.
4. Your House Looks Very Dark
If potential buyers come across your house on a property portal and decide to visit it, but upon arrival find it not to their liking due to its dimness, they may say, “No, this is too dark for me.” On the contrary, however, you may find the house to be well-lit and airy due to your personal preference or the way you have habituated to it (like keeping the black curtains drawn to keep out the sunlight).
When selling your house, appeal to as many people as possible by starting with a simple task: clean the windows! By allowing natural light in with day curtains, you’ll brighten up the atmosphere of the home, while still offering some privacy and reducing any potential glare.
5. Your House Looks Like It Needs A Lot Of Repair
Having your house on the market for over 20 years with no renovation in that time?
That can be a turn-off for potential buyers. The sight of water damage on the ceiling would only confirm that the house needs a lot of work and maintenance – something most buyers don’t want to invest in. It would be a waste of time and money to do any renovations now, right?
In Singapore, potential home buyers tend to renovate to their tastes, so those hoping to move in quickly may not be keen to put in an offer; renovations like replacing the floor tiles or dismantling the kitchen cabinetry take time, which translates to longer periods before being able to move in.
Even if it’s been ages since your home has been updated, it may not be worthwhile to completely overhaul it. To breathe life back into it, why not consider some minor modifications? These may include painting the walls and ceilings with a more neutral hue, hiding any cracks, and addressing any water leaks.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
Singapore’s Real Estate Market: Disproving 5 Common Misconceptions
Singapore's real estate market is a complex and dynamic market that can be difficult to navigate for new investors. With...
Read More
When will En-Bloc set to Become Reality Beyond 2023?
TLDR The real estate market is experiencing a lull in en-bloc activities due to various factors. Higher Additional Buyer’s Stamp...
Read More
Exciting News: Affordable Housing in Singapore by 2024?
TLDR The real estate market in Singapore is experiencing shifts in housing supply and demand, influenced by factors like mortgage...
Read More
Neighbourhood Estate Guide: Is Holland Village the Most Charming and Relaxed of HDB Estates?
According to the 2014 master plan, Holland Village was given the prestigious title of an "identity node," confirming its status...
Read More
Top 5 Instagram-Worthy Spots in Singapore
Singapore, a beautiful city-state known for its stunning architecture, lush greenery, and vibrant culture, is a photographer's paradise. The island...
Read More
Debunked! 6 Popular Property Myths of 2023, Including the 99-1 Loophole – Legal or Not?
TLDR This blog post delves into various aspects of the Singapore property market, including topics such as decoupling, 99-1 property...
Read More
What is Buyer’s Stamp Duty (BSD) in Singapore and How Does It Work?
TLDR When it comes to navigating the Additional Buyers Stamp Duty (ABSD) in Singapore, legal strategies are available to overcome...
Read More
Top 5 Factors : What I Wish I Had Known about Singapore Property Market
Singapore's property market has always been an attractive investment option for both local and foreign investors. With its stable economy,...
Read More
Singapore Decoupling Guide
TLDR Decoupling in Singapore's real estate refers to the process of separating property ownership to avoid Additional Buyer's Stamp Duty...
Read More
UNCOVERING the Secret to Profitable Small Boutique Condos!
TLDR Boutique condos, with fewer than 100 units, are known for price fluctuations due to infrequent transactions and higher upkeep...
Read More
Top 5 Romantic Date Spots in Singapore
Singapore, known for its stunning skyline and diverse culture, is a melting pot of romantic opportunities just waiting to be...
Read More
Top 5 Best Hidden Photography Locations in Singapore
Singapore, a vibrant city-state known for its iconic landmarks and bustling urban landscape, is also home to numerous hidden gems...
Read More
7 Essential Steps to Sell Your House in Singapore
TLDR When preparing to sell your house, research the average prices in your area for a realistic figure. Consider factors...
Read More
5 Reasons Why It’s A Great Time To Buy Property In Singapore In 2024
Singapore's property market is known for its stability, high demand and strong returns. With a growing population, low unemployment rates,...
Read More
5 Tips : How To Negotiate A Good Deal When Buying A Singapore Property
When looking to buy a property in Singapore, it's essential to know how to negotiate a good deal. Here are...
Read More
5 Singapore’s Best Property Investments for 2023: Where to Find Growth and Income
The Singapore property market has long been a sought-after investment destination, with its stable economy and growing population making it...
Read More
Discover Singapore: 5 Must-See Attractions for a Culture Lovers’ Paradise
Singapore, a bustling metropolis in Southeast Asia, is a melting pot of cultures and traditions that offers a unique blend...
Read More
Singapore’s Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors
Singapore's Best Kept Real Estate Secrets: 5 Insider Tips for Savvy Investors Here are 5 insider tips for those looking...
Read More
Thinking of Selling Your Home in 2024? 5 Vital Realities Every Seller Must Face
TLDR From 2022 to 2024, Singapore's housing market underwent significant changes, with a shift from scarcity to a boom in...
Read More
