Out and about in Real Estate I am always asked, what can I do to add value to my property?
Aside from the obvious answer which is performing renovations and /or additions, there are multiple ways you can add value to your property while preparing to be or on the market.
Presentation and styling – Styling can cost anywhere from $1500 to $4000 depending on the quality and the size of the subject property. Do you get that money back? In my opinion, absolutely.
Although the value added by styling cannot be quantified into an exact dollar amount, what it noticeably adds is buyers and enquiry. Styled properties receive on average 30% more enquiry and subsequent inspections. This increase in inspections will inevitably add further interested parties to the mix. If this occurs it gives you better leverage and increases the PERCEPTION of value which in real estate is the key to a successful price.
Marketing – Marketing is about transferring a feeling. If your marketing is poor, it will transfer a poor and inadequate feeling. If it is attractive, eye catching and targeted to the right market, it will also increase enquires and have a similar value in increasing PERCEPTION.
PERCEPTION = VALUE