Tips on Buying and Selling.
Selling Tips -
The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. Your home’s curb appeal is important. Entryways are also important. You use it as a utility space for keys and bags or shoes. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.
Pricing it right
Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.
Half-empty closets -Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.
Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.
Put the Pets away
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, put the pets away for the day.
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.
Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home decorator to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.
The kitchen and bathrooms come first
You’re not actually selling your house, you’re selling your kitchen and bathroom – that’s how important it is. The benefits of remodeling your kitchen and bathroom are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace counter-tops and fittings where a buyer may knock a few good tens of thousands off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.
Buying tips -
Purchasing your Home-
-Have your down payment ready and easily accessible. This is normally 20-25 % of the selling price of the house or land.
-Average an additional 10% for closing costs and legal fees and insurance.
-Visit your bank or lending institution to discuss your intentions. Know how much you qualify for and get pre-approved !
-Have your paperwork in order. Such as - job letter and payslip , utility bill, 2 copies of identification.
-Documents required during the buying process
- The Purchase Agreement .
- Copy of Deed
- Up to date Wasa Bill, Land and Building tax receipt, Wasa Clearance certificate from seller.
- Valuation report ( buyer's expense)
- Note all renovations required and added costs after closing.
- Stamp Duty is a tax that you must pay when carrying out certain transactions that require legal documents. Deeds of Conveyance, Deeds of Gift, Deeds of Mortgage, Release of Mortgage Loan, Release of Life Insurance Policies, Transfer of Shares, Deeds of Lease, Deed Polls, Bonds, and any other deeds, require "stamping", which means you must pay duty.
Stamp Duty fees -
Summarizing –Residential Rates of Stamp Duty
$1.0 -850,000. Nil
>$850,00 < 1,250,000 @3%
>$1,250,000 < $1,750,000 - @ 5 %
>$1,750 ,000- @7.5% thereafter.