How to sell your old property at the best rate?
Facing a nightmare while selling your old property? Not getting a satisfactory deal that your property deserves? Well, here's a hard truth: you need to invest a little in your place to get an even bigger return than you are expecting. Selling an old property can be a daunting task, especially when you're struggling to secure a satisfactory deal that matches your property valuation. As a real estate construction company, we have expertise in building new bungalows. But our customers often face the issue of selling their old property. However, before you get disheartened, we have compiled a list of things you can do to deal with your old property. Despite our expertise in building new homes, today we’ll help you enhance the value of your old property and ensure you get the deal it rightfully deserves. Here are some things you need to remember and follow to get the best value for your asset.
Get your home fixed with basic civil renovation
- Plaster Work and Waterproofing
One of the biggest turn-offs for potential buyers is dampness and unsightly plasterwork on the walls. One of the most crucial home selling advice is to address these issues to make your property more appealing. Moisture can lead to structural damage, mould growth, and a general sense of discomfort for prospective buyers. Undertaking thorough plaster work and waterproofing can not only enhance the aesthetic appeal of your property but also ensure its long-term structural integrity.
Revamp the Washrooms
Washrooms play a significant role in influencing a buyer's perception of your property. Outdated or poorly maintained washrooms can act as a major deterrent. Consider investing in revamping these spaces. Mend any leakages, upgrade fixtures, and, if feasible, opt for a complete reconstruction. A modern, clean, functional bathroom can greatly elevate your property's overall value and help you up your game in property negotiation.
Replace Old Doors and Address Structural Issues
The entry points of your property, such as doors, play a pivotal role in making a first impression. Replace old, worn-out doors with newer, more stylish options to enhance the curb appeal. Additionally, inspect your property for any cracks or other structural damages. Repairing these issues not only improves the visual aspect but also assures potential buyers of the property's soundness.
Upgrade Flooring and Walls
Flooring and tiles are often focal points in homes. Outdated, damaged, or unattractive flooring can significantly diminish your property's appeal. Consider replacing old tiles with newer, more modern options that align with current design trends. Paint the dull walls.
Documenting Your Property's Value
While it's easy to get caught up in the visual aspects of your property, documentation is equally vital. Prospective buyers want a clear picture of what they're investing in. Key documents to compile include:
- The property's type (flat, tenement, etc.).
- Construction area details.
- Bedroom configuration (2 BHK, 3 BHK, etc.).
- Clarity on NA/NOC title.
- Availability of loan papers.
- Accurate property price.
Having these documents organized and ready ensures transparency and instils confidence in potential buyers.
Professional Photography of Your Property
A picture is worth a thousand words, especially when it comes to showcasing your property. Invest in professional photography to capture the interior and exterior of your house in the best light. High-quality images create a lasting impression and give potential buyers a realistic view of the property's potential.
Highlighting Strengths and Connectivity
In your marketing efforts, focus on the strengths of your property. Emphasize its proximity to key areas such as schools, hospitals, and shopping centres. Highlight the convenience of its location at the railway station or airport. Connectivity is a major selling point that can greatly influence buyers' decisions convincing them that they are making a profitable real estate investment.
Seizing Opportunities: Redevelopment and Government Projects
Buyers often consider potential opportunities in the vicinity. If any nearby properties have undergone successful redevelopment, mention this in your marketing. Additionally, if your property can be rebuilt by a developer, highlight this possibility. Government projects, such as road widening initiatives, can also positively impact property value. Share this information to demonstrate the long-term benefits of your property and increase its value in the real estate market.
Choosing the Right Marketing Channels
Getting your property noticed is vital for a successful sale. Explore multiple marketing platforms:
- Contact nearby property brokers or agents who have an understanding of the local market.
- Utilize classified ads in leading newspapers. This cost-effective approach reaches a wide audience.
- Register your property on popular real estate portals like 99 Acres and Housing.com, expanding your online visibility.
- Maintain consistency by using a common contact number across all marketing platforms for seamless communication.
It might seem that you are spending a lot of amount on basic civil work and might end up making less profit. However, investing in these basic changes really amps your property and more than often you end up making huge profits in comparison to what you were getting before the renovation. Speaking from our experience, one of our customers approached us with his concern over not being able to sell his old property. We took charge and did these very changes. The property that was worth 80 lakhs before the renovation, with 5 lakh rupees of investment, got sold for 1.25 crores. The numbers speak for themselves. Don’t they?