Tuesday, May 16, 2023
HomeProperty7 must-do steps when promoting your own home in Singapore

7 must-do steps when promoting your own home in Singapore

Planning to promote your own home quickly? Whether or not you’re participating a property agent or not, correctly prepping your own home on the market is a good suggestion. Right here’s a fast house-selling information to make the transaction simpler. The extra steps you are taking, the upper the chance that your property can fetch an excellent worth.

1. Examine the listed costs and transaction histories of surrounding properties

Realizing the typical costs within the space will aid you to set a practical determine. This doesn’t imply, after all, that you could’t set a higher-than-average worth. However it’s important to be aware that the upper you set the value, the longer it may take to dump your property, particularly throughout a purchaser’s market.

You can begin your analysis by going to 99.co to seek for properties on the market close to the home you’re placing up on the market.

99.co search results page with map
You may enter the realm (let’s say Bishan) within the search bar to get the out there listings. Afterwards, zoom in on the map to see the place the respective homes on the market are situated. Right here, we’ve zoomed into properties close to Ai Tong Faculty and located a condominium listed for S$2.8 million.

As well as, be aware of particulars akin to:

  • Capital appreciation over time
  • Rental yields within the space
  • Close by en-bloc gross sales
  • The quantity of gross sales within the improvement, and surrounding initiatives

Your property agent may also aid you do extra complete analysis on this.

However for a begin, think about using the 99 Property Worth Device to estimate how a lot you’ll be able to promote your own home for! Powered by X-Worth, it provides you an estimation of your property, worth development, rental yield and potential capital acquire!

2. Work out your holding energy, and observe a set plan

Say you select to set a worth that’s above common. At what level will you decrease the value? Will it’s after a month with out a response, or three months?

Additionally, what’s absolutely the lowest worth you’ll accept, and at what worth will you instantly agree and promote? What’s your plan if a purchaser says their buy is pressing, and may’t wait longer so that you can settle for their provide?

You need to have the solutions to all these on the snap of a finger.

It’s advisable to have a “script to stay to”, so to talk. It will forestall you from making impulsive intestine choices, and decrease the anxiousness concerned in promoting.

3. Do fundamental analysis on how listings and advertisements work

Even when a property agent helps you, it pays to grasp the fundamentals of how itemizing websites work. For instance, to checklist on a website like 99.co, property brokers spend a specific amount to make the itemizing outstanding. It’s additionally all the way down to them to make use of flattering movies and footage of the home, and to explain its greatest options.

Renovated properties on the market


For those who can’t see your own home on any listings websites, or see solely scant listings with horrible footage, then maybe it’s best to discover an agent who will put in additional advertising and marketing spend.

4. Get some uplights to light up the rooms when taking footage for listings (and even for viewings)

Light cast upward from the ground
Rental exteriors use uplights to look fancy; you’ll be able to mimic this indoors by angling observe lights or lamps on the ceiling.

A standard mistake amongst many sellers is to rely closely on downlights (lights that shine down instantly from the ceiling). But it surely’s higher to make use of uplights that solid mild from the bottom to the ceiling; that is much less harsh and makes your property look hotter.

(For those who’re questioning why designer residences in magazines look so good, that is usually the rationale).

Uplights can come within the type of ground lamps or track-lights. Most are cheap, and so they’re in all probability the quickest approach to make a home look good.

If in case you have a property agent nevertheless, they will have somebody stage the home for you and prevent the difficulty.

5. Get a house inspector to go over your own home, earlier than consumers do their very own checks

A house inspection prices about S$450 to S$650 for a unit within the 1,001 to 1,300 sq ft vary. Nonetheless, it’s value the fee to repair any hidden flaws that may get in the way in which of a house sale.

It’s inadvisable to attempt to conceal defects or injury. A purchaser might tolerate such points in the event you’re trustworthy. However in the event you’re caught hiding the issue behind a settee or momentary repair, they’ll lose belief and will name off the acquisition fully.

Man inspecting a scratched wall
Don’t let a S$500 repair get in the way in which of a million-dollar sale.

Recognizing damages isn’t the one motive to name a house inspector. You’ll even be extra knowledgeable when the client questions you. For instance, you’ll know that some discolouration within the false ceiling is because of a beforehand mounted water heater, and never an enormous leak from the unit upstairs (which some consumers might suspect).

6. Discover out what the MCST is planning for broken or closed services

In case your condominium services aren’t in prime working order, it may have an effect on your final sale worth. Do press your MCST on how they intend to handle the problems. On the very least, you will get the solutions on when your condominium is re-opening its sauna, changing the treadmills within the gymnasium or cleansing up the makeshift “dumping floor” that appeared within the automotive park.

Condos with services on the market


For resale HDB flats, contact your city council if the frequent corridors are in a foul state. Or if the stairwell areas want repainting (particularly if there’s “O$P$” graffiti nonetheless seen beneath a skinny coat of paint).

Potential consumers will ask about these points, and also you don’t need to simply reply with a shrug.

7. Inform your neighbours that you simply’re holding some viewings

Most neighbours are understanding. For those who inform them you’re having consumers at round a sure hour, they’ll aid you out by preserving issues quiet.

In case your neighbours don’t know, you’ll be able to’t blame them for holding a band apply session or get together on the identical time potential consumers flip up. This can provide the improper impression about who they’re dwelling subsequent to.

Two neighbours talking out their windows
Enlist your neighbour’s assist. Bear in mind, your purchaser would possibly speak to them in addition to you.

Likewise, remember that some consumers will “collect intelligence” by speaking to your neighbours. In case your neighbours know you’re attempting to promote your own home, they could drop in an excellent phrase for you.

[Additional reporting by Virginia Tanggono]

For those who loved this text, 99.co recommends Ought to Singapore owners renovate earlier than promoting? and Listed here are 5 bizarre issues consumers search for.



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