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  1. #1
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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Just after a bit of random advice,

    I have a property 1/2 way between Brissy and the Gold Coast that I want to sell. Its an investment property, only about 8 years old but there are newer homes around (its an area where there were alot of investment properties built a few years ago).

    Anyways I know it isn't the greatest time to sell, but I'd like to pay off my home first and getting rid of the investment would free up my pay to help with our home...

    The property is in decent condition but not perfect condition. Sales in that area and exactly great. When I mentioned to our property manager, who seems quite nice, that we'd rip up the lino and paint the walls, she said not to bother as new owners would change stuff they way they wanted to anyway... She just said to tidy up the front rockery area and that was about it.

    Does anyone have any more advice on what to do with getting a better sale price. Unfortunately for us it was probably worth about $360K a few years back but now about $330 with the current market. Any advice on real estate sales in Brissy is greatly appreciated as im in Sydney so not really sure about the market and stuff! Thanks!

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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Dont know anything about Qld market specifically but I've bought and sold about a dozen properties and I've worked in real estate for 20 year.

    Your PM is likely right - in that price range a neat property is likely what the market would demand and no point in spending loads of capital updating or repairing anything as long as its in saleable condition. It is highly unlikely you won't achieve any more doing this than not as most buyers are quite capable of doing their own touch ups. Just do what you can/need to (from a lowest cost perspective) to make sure it looks neat and clean and not worn or trashed in any way (as rentals so often do).

    Even with an update it wont compete with brand new houses in the area which are a market unto themselves with all the home buyer incentives offered, so best not to throw loads of cash at it to try.

    Might be an idea to scout out the other properties for sale in your price range to get an idea of what buyers expect - or talk to a local sales agent.

    Best of luck with your sale!

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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    We sold a property in Brisbane in November, and our agent had the opposite advice to your property manager. We painted, ripped up Lino and carpet and polished the floor boards, new blinds and tidied the gardens. We had an offer in 24 hrs and contract signed in 4 days.

    I honestly believe if you refresh the property and present beautifully you will sell quicker in this market. Not necessarily more, but quicker.

    Good luck!

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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    I wouldn't rip anything up and upgrade them. It won't necessarily make the place be worth more, unless you did a full renovation. People will be buying your house for its potential, not the floors etc.

    Just present it well, keep it clean and tidy.

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    Default Re: Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Like pina colada said, those sort of changes won't increase the price, but could make it sell faster.

    Being only 8 years old I don't think refreshing the carpet, paint etc will make much of a difference unlike a 15-20 year old house.

    However get a sales agent involved. They will know what people are currently looking for.

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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    I would spend the money on making the place presentable rather than refreshing 8 yr old paint (unless the walls are really grotty but you may be able to get away with washing them in that case). Just weeding gardens, mowing the lawn and not leaving any junk around makes a huge difference to the feel of a place.

  7. #7
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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Thanks ladies.

    The PM did say to tidy up the front garden, which it does require.

    There are tenants in there currently so if we do sell hopefully they'd keep the place neat and clean for any potential inspections.

    If anyone has any more ideas or knowledge about the qld market I'd love to hear from you.

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    Default Re: Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    If you do these while the property is tenanted you may be able to claim them as a tax deduction (talk to your accountant as it depends on the age of what you're replacing etc). if you're going to get a chunk of the cost back at tax time it might make it more worthwhile.

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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Quote Originally Posted by kat10 View Post
    If you do these while the property is tenanted you may be able to claim them as a tax deduction (talk to your accountant as it depends on the age of what you're replacing etc). if you're going to get a chunk of the cost back at tax time it might make it more worthwhile.

    Sent from my GT-I9100 using BubHub
    I was about to say this, I think repainting 8 years after would be a repair not a capital improvement. If there is nothing wrong with the lino then you may not be able to claim.

    I would check out the competition - what do the other properties in the area look like and what is there price?
    We are currently looking at another investment and I'll tell you for some of them the old saying "tell them their dreaming" comes into play.
    You don't want to over capitalize but you also don't want to go others sell for xyz so ours should (but they nothing to do but yours need this, that and this done)
    I would also arrange for a few sales agents to come and look and advise. Its not a PM area of expertise.

  10. #10
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    Default Any QLD Real Estate Agents - or any real estate agents anywhere out there??

    Thanks. Well according to the Pm ours is on better condition than a similar property that sold down the street, but of course this is all a gamble so we shall see how we go.


 

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