WHAT TO CONSIDER WHEN PURCHASING AN INVESTMENT PROPERTY

The working-from-home revolution has propelled online activity into a new era as people become increasingly comfortable not having to be ‘in person’ for work meetings to catching up with friends and everything in between. Digital tools to sell, buy and rent a home have also become the norm, contributing to better consumer experiences, especially when they are remote to where the property is located. When it comes to selling your property, knowing that more than 90% of searches start online, it is crucial to find ways to stand out from your competition. Virtual staging can help achieve this, and it offers numerous advantages compared to the costly alternative of hiring furniture for what is a vacant home. We will look at 5 benefits that virtual staging offers to sellers: 1.    Make your property stand out 2.    Help prospective buyers project themselves 3.    Save money with a more cost-effective alternative 4.    Benefit from a fast turn-around 5.    Boost your selling price 1. Virtual staging helps your property stand out As 90% of searches for a property start online, it is crucial to grab the attention of prospective buyers straight off the bat and seize any opportunity for your home to stand out from the crowd. This is when virtual staging comes into play. "It is the best way to bring a cold vacant home to life easily. It helps to show its full potential", explains Brad Filliponi, Co-Founder of Box Brownie, one of the world's leaders in virtual staging. Thanks to beautiful images that also give potential buyers room for imagination, your property will increase its chances to make an impression and secure its spot on the list of interested buyers.   2. Help prospective buyers project themselves in the property Many buyers struggle to project themselves in a home that is empty or not styled to their taste. But virtual staging can help prospective buyers with that so that they can create an emotional connection with the property, crucial for a successful sale. The process is quite straight-forward. "A client uses vacant (or not) interior photos to fill the property for sale or rent with lifelike digital furniture. The idea is to show how or what the space can be used for. Most buyers find it hard to visualise an empty room and ‘see themselves in it’, so these edits can really become a silent salesman for your property", says Mr Filliponi. Moreover, virtual staging works both on standard or 360 photos for virtual tours. "The only potential downside of virtual staging is that the styling is not there upon inspection. But at least the seed has been planted", notes Stephen Mutton, National Head Of Network Development at LJ Hooker. However, there is an easy way to overcome this potential hurdle. Sellers can use easels in the empty rooms to showcase the printed virtually staged images. This will help remind prospective buyers of the potential of the property. And once the buyer’s attention has been caught and the decision made to attend an open home, you can then trust your real estate agent to do his job.   3. Virtual staging is more cost-effective than traditional styling Traditional styling can be expensive. Depending on the location of the property (for example, this service is more expensive in Sydney than Hobart), the number of rooms and the time necessary to sell the home, it can cost anywhere between $1,500 and $10,000 or more. Therefore, you may be limited to only a couple of weeks in your budget. You may also be limited in the style of furniture you can select. "The cost of traditional staging means that it can fall out of people's budgets and it simply doesn't get done, even though it’s deemed essential to get an edge on the competition. Therefore, with most property ownership journeys starting online, the less expensive digital styling ability is a more cost-effective solution", says Mr Mutton. The cost of virtual staging usually ranges between $30 and $120 per image depending on the supplier. That means that you can consider staging the home in two or more different styles to suit different audiences. You can also showcase more than one option for how to use a room. For example, a small bedroom could be presented both as a nursery and as a spacious office.   4. Benefit from fast turn-around (48 hours or less) Unlike traditional staging, virtual staging only needs a few hours spent editing images on the computer to get the ball rolling. It doesn't require the organisation of an initial consultation and all the logistics that come with sourcing and setting up the furniture in the property. In most cases, you should be able to have all your images ready in 48 hours or less, depending on the supplier. This is much faster than the minimum of one week to set up physical staging, and much easier to organise. Moreover, there is no risk of damaging the walls or floors when moving the furniture in and out of the property. 5. Boost the selling price of your home Appropriate styling can evoke an emotional connection to a property and a desire to want to live there. This means that correct styling increases the saleability of a property and the return is usually well worth the investment. Indeed, experts agree that home staging can increase the selling price of a property between 5 and 10% on average. "Virtual staging shows people what the potential of the empty space is. This, in turn, will create a desire to want to live there or own it and ultimately increase the value and or competition on the property, explains Stephen Mutton. It works much like a car that you wouldn't sell without washing it and showing its full potential." DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. LJ Hooker will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.

Spring is an excellent time to sell your property for a variety of reasons. As the seller, you will want to prepare your home the right way. This will give you the best chance of attracting great buyers, achieving a higher sales price, and, ultimately, locking in a successful sale. In this guide, we explain why spring is a great time to put your property on the market, and we explore specific strategies for getting your house ready. Why spring is an ideal time to sell Property sellers in Australia often hold off until spring to list their property. One of the reasons is the sunnier weather and blossoming gardens. They make properties look more appealing and motivate buyers to get out and about after the cold, rainy months. Unsurprisingly, buyers tend to be more inclined to attend open houses when the weather is sunny and mild, rather than overcast and rainy. People are also generally more motivated to secure a property with the end of the year looming. It allows them to move in before or during the Christmas holiday period and settle into their new home before starting the school year. Hence the market tends to see an uplift in spring. In turn, sellers recognise more buyers lead to increased competition, higher prices, and possibly a quicker sale for their property. Strategies for readying your home to sell in spring Even though sales outcomes tend to be stronger in spring, more sellers and a larger number of properties mean more competition for your property. This means you’ll still need to have a focused plan to boost your chances of a great sale outcome. Ideally, this strategy will include property staging and presentation. Follow these tips to maximise your property’s appeal to buyers. 1. Spring clean Start with a complete spring clean to get your house ready for the sale. Clean glass doors and windows from the outside and inside. Remove cobwebs and give everything a good dusting and vacuum. Wash curtains and dust blinds, lighting, and other fixtures. Clean and polish door knobs, mirrors, switches, taps, and fittings. Have your carpets professionally steam cleaned. Wipe down cupboards and all exterior and interior surfaces like closet doors as well as shelves and drawers. Pay particular attention to kitchens and bathrooms, and have your tiles and grouting cleaned by experts if necessary. 2. Increase curb appeal First impressions count when it comes to buyers’ opinions, so increase curb appeal and make your exteriors stand out. Tidy up your front and back garden by clearing away any clutter from your front yard. Use a pressure washer to hose down driveways and garden pathways, and make sure you remove any oil stains. Rake away dead leaves, prune dead winter growth, and do a thorough weeding. Have your roof and gutters cleaned by professionals. Remove any large bushes and trim away tree branches to clear the exterior view for prospective buyers. Trim your lawn edges for a clean and orderly look. Fix dead, bald, or yellowing lawn patches by seeding and fertilising these spots. Adding small improvements like mulch can make a big difference while reducing the need for ongoing weeding. Get rid of any shabby-looking outdoor items like rusting deck chairs and creaking swing sets. Consider repainting fences, exterior walls, and the letterbox. For a pop of colour, add flowers and green shrubbery to your front garden. Don’t forget to fertilise your lawn and garden beds for vibrant springtime growth. Make an impact by introducing statement pots and plants to your entrance. Remember to keep up with watering to keep your lawn, flowers and trees looking their best. 3. Remove personal items Take the opportunity to declutter your house by throwing away or donating anything you’re not using. Remove as many personal effects from your property as possible. Decluttering makes your interiors and storage spaces look more spacious, and depersonalising your home provides potential buyers with a blank canvas to imagine the house as theirs. Remove family photos, souvenirs, and accolades. Consider putting oversized, worn-looking, or clashing furniture pieces into storage. Anything you leave, like clothing hanging in your closet and plates in cupboards, should be in good condition and tidily arranged. 4. Accessorise the interior Staging your property allows you to target specific demographics and possibly achieve a better price. An experienced real estate agent is your best adviser when it comes to staging. He/she can pinpoint the special features and guide you on how to highlight these with staging. So what exactly does staging involve? You could rent furniture, artwork, and additional accessories to accentuate your property’s top features. These can be used to repurpose rooms - such as turning an extra bedroom into a nursery or a home office - depending on your target demographic. You can add basic touches yourself, such as updating old towels, rugs, and linen with new ones. Draw back the blinds to let in natural light and add fresh bouquets of flowers. During inspections, the agent might recommend added elements like relaxing music and pleasing aromas with baking cookies and freshly brewed coffee. 5. Do any necessary repairs and maintenance Take an objective look at your interiors and note any flaws, defects, or damage. Repair leaky taps, loose doorknobs, and faulty light switches. Give damaged walls a fresh coat of paint, and consider having carpet stains removed by professionals. If you have timber flooring, think about having them restrained. 6. Work with an expert A real estate agent works closely with you at every step of your sale, ensuring you’re staging and preparing your property correctly. He/she can check you’re working off an accurate value for your home and assist with your contracts and paperwork. Spring is a busy time for both buyers and sellers, and your agent can help make your property stand out and successfully market it to your target demographic. In addition, you could have the full confidence that it’s truly the right time to sell if you have the help of a real estate expert who knows your local market, like LJ Hooker’s highly experienced agents. Achieving a successful sale in spring Spring is a preferred time to sell and buy, and as a seller, you could enhance your chances of getting a great price and achieving a faster sale by preparing your property in the right way. Decluttering, cleaning, and depersonalisation are essential strategies to apply, along with working with an experienced real estate agent. If you’re preparing to sell your property, make sure you get in touch with an experienced real estate agent and obtain an accurate property appraisal. You can get a better understanding of where your property stands in the market today by getting a free expert property appraisal with an LJ Hooker agent. DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. LJ Hooker will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.