Media release - 16th August, 2016

A fresh coat of paint and a spotless bathroom could enhance the value of a Sydney house or apartment this Spring selling season by thousands of dollars, according to leading real estate group, Raine & Horne.

“A standard 2-bedroom apartment in Ashfield might cost between $2,500 and $3,000 to paint, and this outlay could potentially add $10,000 to the value of the property,” said Tony Andreacchio, Principal, Raine & Horne Ashfield.

“Also, you can expect to pay around $3,000 to style the same apartment, which might add $5,000 to the value of the home.”

While it might appear a splash of Dulux or Taubmans will produce the strongest return on investment, Mr Andreacchio advises that a combination of styling and painting will achieve the best sales result.

“If you choose to do some painting, yet have shabby furniture in the apartment, it’s a bit like wearing thongs with a dinner suit. It won’t deliver the desired effect of a stronger result and a speedier sale.”

Well-presented homes are attracting up to 40 groups to open homes in St Marys and surrounding suburbs, compared to a standard of 10 to 15 groups, according to Peter Diamantidis, Sales Manager, Raine & Horne St Marys.

“We recently sold a four-bedroom house at 31 Britten Close, Cranebrook for $600,000 because of its excellent appearance. It listed the previous week for $579,000.

“Many owner-occupiers are time-poor, so if a property is in better shape, it will attract more attention and potentially stronger prices,” said Mr Diamantidis.

“Likewise, if you’re selling an investment property, and are targeting first-time buyers, and it’s dirty and has shabby furniture, it will influence the result.”

Mr Diamantidis also advises that before spending any money on sprucing up a home, it’s wise to seek the advice of an agent first.

“There’s no point putting in a kitchen for $10,000 and then only getting an extra $10,000 for the property. It’s hardly a worthwhile exercise,” said Mr Diamantidis.

If you’re on a tight budget, making certain every room is spotless is a low-cost way to give your property a sales edge, according to James Pratt, Director of Auction Services, Raine & Horne.

“Appearances are everything especially when taking a property to auction this spring,” said Mr Pratt.

“A dirty kitchen will irritate many buyers, and as part of your spring cleaning, give food preparation areas such as sinks, stoves, ovens and grills some special attention.

“Sparkle up chrome appliances and store all open food products out of sight. Buyers may look in cupboards, so clean shelves thoroughly and arrange goods neatly.”

A gleaming bathroom, with the help of a lightly scented room atomiser, will help win over buyers, according to Mr Pratt.

“If mildew is evident, clean and remove the mouldy growth and air the bathroom thoroughly prior to inspections,” he said.

Vendors should remember to maintain high exterior standards, with lawns cut regularly, pools kept sparkling clean and driveways swept free of debris.

“Kerbside appeal is important for open homes, while more auctions will be held outside in Spring, so the presentation of gardens, lawns and driveways is just as important as keeping up appearances internally,” said Mr Pratt.

Over the past 10 years, property presentation has become a much bigger factor in the decisions made by buyers, according to Michael Harris, Co-Principal of Raine & Horne Newtown.

“We find that if there is a property that isn’t presented well, it will attract larger numbers of bargain hunters who will negotiate the price down,” said Mr Harris.

“With the proliferation of the internet as a key spoke in the property sales wheel, it’s absolutely vital that vendors invest in quality photography to ensure a property presents in its best light to get buyers to open homes rather than making decisions online.”

–ENDS–

For further media information contact:

Andrew Harrington, National Communications Manager, Raine & Horne, on 02 9258 5400

Keeping up appearances will add thousands to a Sydney Spring property sale