‘Be a sheep’ if you want to sell, advise hosts of TV’s Love It Or List
HOMEOWNERS have loads of alternatives to promote their properties for a terrific value this spring regardless of all of the doom and gloom forecasts for Sydney’s housing market, fashionable TV hosts Andrew Winter and Neale Whitaker declare.
The presenters of Foxtel collection Love It Or Listing It, which begins its second season later this month, stated owners have been in a greater place than they have been final 12 months.
They might nonetheless promote their houses for considerably greater than they paid for them, however had the additional benefit of having the ability to safe their subsequent houses for lower than they might have final 12 months when the market was booming, the TV duo stated.
Hit present Adore it Or Listing it helps clear up a typical dilemma — deciding whether or not to “love” their house by renovating it or “listing it” and relocate to a distinct property.
Gold Logie nominee and actual property agent Andrew Winter talks by way of the advantages of promoting, whereas design guru Neale Whitaker provides recommendation for renovating.
The primary season was an enormous success for Foxtel’s Way of life, breaking viewing information and attracting rave opinions. When the collection launched final 12 months, the debut episode drew the biggest viewers for a collection launch within the channel’s historical past.
However a lot has modified since final season. Analysis group CoreLogic’s newest hedonic house worth index launched this week revealed the median value of a Sydney house fell 5.6 per cent over the previous 12 months.
Mr Winter stated the quieter market was really good for sellers.
“You could have bought value in your property through the increase, however by the point you’d have purchased your subsequent property, costs might have gone up one other 5 per cent,” he stated.
Type guru Whitaker, lends his designer contact to group “like it” within the hope a renovation will persuade owners to remain, however added renovation might additionally profit sellers within the present market.
“Something you are able to do that reveals the flexibility and practicality of an area is essential to presentation,” he stated, including that there was a hazard in spending an excessive amount of on a renovation.
“Many individuals are spending cash on issues they don’t want. You need to be practical about what you really want. Most individuals don’t want a number of ovens, a wine cellar and a butler’s pantry,” he stated.
Mr Winter stated owners who spent $150,000 on a renovation wouldn’t robotically add $150,000 to the worth of a house, except the makeover was unfold evenly throughout the house.
It was additionally vital to find out about your competitors when deciding to renovate, Mr Winter stated.
“You would possibly nonetheless get an affordable sale by placing a reasonable scale of enhancements in step with the remainder of the properties available on the market,” he stated. “Be a sheep and observe what everybody else is doing, observe the traits … now just isn’t the time to buck the traits.”
Love It Or Listing It Australia returns to Foxtel on Wednesday, September 26 at eight.30pm.
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