How to prepare your Warrnambool property for the Spring selling season

Posted on 26/08/2019 by Andrew Morris in Finance, Mortgage Broking
Andrew Morris
Andrew joined Sinclair Wilson in May 2017 as Mortgage Broker, having spent the past 10 years in the banking industry. With a small business background - in hospitality, no less...

It’s September shortly… which means Warrnambool’s spring property season is almost upon us.

It also means that if you are planning to buy or sell, NOW is the time you need to start organising yourself, your finances AND your property.

Like eating an elephant, every big task can be conquered by breaking it down into manageable bites. Here’s some tips to help you get yourself in order if you have been thinking about making a move in the property market this spring.

Tips if you are planning to BUY this Spring:

1. Get your finance sorted ASAP

To be honest, starting the hunt for a property without knowing how much you can borrow is like starting a journey without an end destination in sight. Make an appointment to chat to us to work out your borrowing power.

Pre-approval would be a smart move, so there’s less risk of you missing your dream property when you find it. Most lenders pre-approval lasts for three to six months, so it will have you covered for a good part of the year.

2. Do your research 

It doesn’t matter if this is your first property, or your fiftieth. Doing your homework is vital if you’re planning on making a good decision when it comes to property purchases (and any other kind of purchases, come to think of it.) Some tips include:

  • Identify the suburb or area you’re interested in and research the market value of your desired property type
  • Look into whether there is any capital works projects that might impact the capital growth potential of your property (is a school/road/new housing development in the wings?)
  • Consider the zoning of where the property is. Is there any kind of developments that might impact supply and demand
  • Look into recent comparable sales on real estate websites
  • Make contact with local real estate agents now, so they are aware of what you’re looking for, and can keep you in the loop about new listings as they come up

 3. Attend several auctions before you actually bid 

Bidding at auction can be exhilarating – and frightening! The fact there’s no cooling off period can make it extra tense. Trust us – you will want to be comfortable with, and confident in the process before you make your first bid… because there is every chance that one bid could change your life!

As the Spring selling season approaches, get to a few auctions to gain a feel for how they work and unfold. Knowing the idiosyncrasies of the local market will also help.

Tips if you are planning to SELL this Spring:

1. Declutter

To put it simply, space sells.

So it’s time to channel your inner Marie Kondo (Google it if you’re not familiar with the reference) and part with everything it is that doesn’t bring you joy… or, in other words, remove anything that doesn’t make your property look its best.

Sure, sure – it’s only August… plenty of time for that job, right? Aaaah… well… it’s September next week. So no. Not really. Underestimate the size of this project at your own peril!

Decluttering can make an incredible difference to your property and its appeal to prospective buyers. It means they can see the property more clearly – and there’s a better chance they’ll be able to imagine themselves living in your home.

2. Clean!

It’s unlikely someone will be turned off a property because it’s meticulously clean. Do a top-to-toe, thorough clean of your property – and keep up the maintenance to ensure it’s at its best for those last minute home inspections.

This is also the time to finally get to those small repair and maintenance jobs that have been hanging over your head.

3. Consider renovating 

One proven way to drive up the sales price is to renovate key areas that typically sell a property – the bathroom and kitchen in particular. These can be big-ticket jobs though – if you need finance, talk to us.

But it doesn’t have to be a big job to have impact. A fresh coat of paint, new blinds or a refresh of your light shades and door furniture could all give your property a new lease of life.

4. Sort our your finance for your next property purchase

Are you selling because you already have your eye on your next property? Finance will be something you’ll need to consider as well. Chat to our Mortgage team about what your options will be.

Sinclair Wilson’s Mortgage Broking team has access to a wide range of lenders to ensure you can source the best possible deal on finance. Bring your questions to us and we can help make the process less daunting.