Here’s How Property Data Can Be Misleading: Navigating Through Common Misunderstandings
TLDR When comparing property prices, discrepancies can arise due to various factors like timing of purchase, scarcity in niche projects,...
Read More
TLDR
When preparing to sell your house, research the average prices in your area for a realistic figure. Consider factors like capital appreciation, rental yields, nearby sales, and sales volume. Decide on a pricing strategy exceeding the average but know when to reduce. Use uplights to enhance your property’s appeal. Hire a home inspector to uncover hidden flaws. Communicate with your MCST about facilities. Inform neighbors before viewings. Seek advice on buying or selling. Connect with perfect buyers through effective strategies.
If you are planning to sell your house, it is advisable to prepare it properly for sale, whether or not you are using a real estate agent. This will increase the chances of getting a good price.
To achieve this, you need to establish the average prices in your area to set a realistic figure for your property.
While setting a higher price is possible, keep in mind that it may take longer to find a buyer, especially if it is a buyer’s market.
You can start by checking listing portals for properties near your house that are up for sale.
In addition, take note of details such as:
- Capital appreciation over the years
- Rental yields in the area
- Nearby en-bloc sales
- The volume of sales in the development, and surrounding projects
Your real estate agent can assist you in conducting thorough research on this matter. However, I recommend that you contact me initially to obtain an estimate of your house’s selling price.
Utilizing X-Value technology, this service provides you with an approximation of your property’s value, pricing trends, potential rental income, and potential appreciation in value.
Determine Your Capacity To Hold, And Adhere To A Predetermined Strategy
The prudent approach is to decide on a price that exceeds the average.
However, it is essential to consider the threshold for reducing the price.
Is it after a month or three months of no response? Additionally, determine the minimum price you are willing to accept and the price at which you will promptly agree to sell.
In case of an urgent buyer, have a plan in place.
It is recommended to create a plan or script to guide you during the selling process.
This strategy will help you avoid impulsive decisions and reduce anxiety. Ensure that you are well-informed and prepared to make informed decisions promptly.
Conduct Preliminary Research On The Functioning Of Listings And Advertisements Using Straightforward Language In A Professional Tone
It is beneficial to have a fundamental understanding of how listing sites function, even when being assisted by a real estate agent.
Property agents allocate a specific amount of money to elevate the visibility of the listing. They also take responsibility for creating appealing videos and images of the property, as well as highlighting its most attractive features.
Consider Acquiring Uplights To Brighten The Rooms During Photography Sessions For Listings (And Also For Viewings)
It is a frequent mistake for many vendors to excessively depend on downlights, lights that shine directly from the ceiling. Instead, it is advisable to use uplights that emit light from the ground towards the ceiling.
This technique is less intense and provides a warmer look to your property, which is often the reason why designer apartments in magazines appear so appealing.
Uplights can take various forms, such as floor lamps or track-lights. They are usually affordable and provide the quickest way to improve the appearance of a house.
However, if you have a property agent, they can arrange for someone to stage the house for you, saving you the trouble.
Consider Hiring A Professional Home Inspector To Assess Your Property Before Potential Buyers Conduct Their Own Inspections
A professional home inspection typically costs between $450 to $650, depending on the size of the unit. Even though it may seem like an added expense, it is essential to uncover any hidden flaws that might negatively impact the sale of your home.
It’s not recommended to conceal any defects or damages in your home during the sale process. Buyers may be more forgiving if you’re upfront about such issues, but if caught hiding them, it could lead to a loss of trust and even result in the buyer withdrawing from the sale.
Apart from identifying damages, hiring a home inspector can also help you answer any questions the buyer may have.
For instance, if there are any marks on the ceiling, you can explain that they’re due to a previously repaired water heater and not a major leak from the unit upstairs, which some buyers may wrongly assume.
Determine The Plans of MCST Regarding Facilities That Are Impaired Or Non Operational
It’s important to keep your condo facilities in good working condition to ensure that you get the best price when you sell it. You should communicate with your MCST (Management Corporation Strata Title) to find out how they plan to address any issues that may arise.
You can ask when the sauna will be reopened, when the gym equipment will be replaced, or when the car park will be cleaned up if it has become a dumping ground.
If you’re selling a resale HDB flat, it’s important to contact your town council if the common corridors are in poor condition or if the stairwell areas need repainting, especially if there is still visible graffiti under a thin coat of paint.
Potential buyers will inquire about these issues, so it’s crucial to have answers instead of simply shrugging them off.
Inform Your Neighbours That You’re Doing Some Viewings
It is commonly observed that most neighbors are empathetic. If you inform them in advance about the prospective buyers visiting your property, they will cooperate by maintaining a peaceful environment.
However, if you fail to notify your neighbors of the situation, it would be unfair to expect them to cancel their plans for a band practice or a party.
Such activities may give a negative impression of the neighborhood to potential buyers.
Moreover, some buyers tend to gather information about the locality from the neighbors. If your neighbors are aware of your house being up for sale, they might speak positively about your property to the buyers.
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 …
Top 5 Factors : Why Singapore’s Luxury Property Market Still Has Room For Growth
Singapore's luxury property market has been experiencing significant growth in recent years, with private home sales in the Core Central...
Read More
Will New Launch Condos See a Drop in Prices Soon?
TLDR The real estate market in Singapore is experiencing a trend of lackluster bids for prime properties in various locations....
Read More
Housing Affordability in 2023: Is Singapore Property Truly Unaffordable?
TLDR Singapore’s property market faces challenges with high prices, especially in private housing. While public housing remains more affordable, the...
Read More
Methods to Beat ABSD and Own Multiple Properties in 2024 (Updated)
TLDR Navigating the Additional Buyers Stamp Duty (ABSD) in Singapore can be daunting for property investors. To save on ABSD...
Read More
5 Unexpected Factors That Make Some New Launch Condos Sell Like Hotcakes
TLDR The Singapore property market for new condo launches in 2023 saw varying degrees of success. Factors like limited competition,...
Read More
Lessons from the Rollercoaster Ride: Homebuyers Share Their Singapore Housing Market Experiences
TLDR The Singapore housing market is a rollercoaster of unpredictable changes. Three homebuyers share their experiences: Tristan waited too long...
Read More
5 Critical Mistakes to Avoid When Investing in Singapore Property: Insights and Advice from Experts
Investing in Singapore property can be a lucrative venture for investors, but it's important to avoid common mistakes that can...
Read More
A Guide to Purchasing a New Launch Condo in Singapore in 2023
TLDR When buying a new launch condo in Singapore, start by planning your finances to determine loan and property limits....
Read More
Looking To Buy An Older HDB Flat? Here’s What You Need To Know Before You Sign On The Dotted Line!
TLDR When considering purchasing an older flat, ensure to thoroughly inspect wet areas for leaks, check balcony conditions, watch out...
Read More
Downpayment For Condo: How Much Do First-Timers Need In Singapore?
TLDR The blog post delves into the complexities of condo downpayments in Singapore in light of the impact of Covid-19...
Read More
Making Sense of 99-Year Landed Home Investments in Singapore
TLDR Investing in a 99-year leasehold landed property in Singapore can be a lucrative venture due to the country's land...
Read More
Top 5 Dessert Places in Singapore
Singapore, a melting pot of cultures and culinary delights, is known for its mouth-watering food scene. From hawker centers to...
Read More
Are Cluster Landed Homes Still a Good Investment? Analyzing Their Performance Over the Past Decade
TLDR When it comes to cluster housing, freehold properties like Bishopsgate Residences command top prices, whereas bargains can be found...
Read More
Here Are 6 Interesting Facts About The Minimum Occupation Period (MOP) That Not Many People Know About In Singapore
TLDR When it comes to understanding the Minimum Occupation Period (MOP) set by the Housing Development Board (HDB) in Singapore,...
Read More
Don’t Get Scammed: The Top 5 Red Flags To Watch Out For In Singapore’s Property Market
Don't Get Scammed: The Top 5 Red Flags To Watch Out For In Singapore's Property Market When it comes to...
Read More
3 Steps to Protect Yourself from Real Estate Scams in Singapore
Lately, there has been an increase in scams related to real estate. Scammers are pretending to be real estate agents...
Read More
Singapore’s HDB Projects: From Unique Landmarks to Just Another Brick in the Wall?
Take a look at this chill spot in Yew Tee. Someone's gone all out to make it feel like an...
Read More
Discover the Top 11 Most Outstanding Condominiums in Singapore’s Holland Village Areas
Originally established in the early 1900s by Singapore's Dutch community, Holland Village was originally a residential area home to British...
Read More
How Can You Prepare for Retirement in an Expensive Real Estate Market? Discover Your Options Now!
TLDR The article discusses the challenges of investing in a second property for retirement amidst Singapore's real estate market conditions....
Read More
