MAINTAINING AND PREPARING YOUR HOME FOR PROFIT

THE BEST PRICE COMES FROM THE BEST PREPARATION

As your real estate partner, it is our intention - via this document - to help you maximise your price and to make the sale of your property an enjoyable and rewarding experience.

It’s important that we keep our eyes on the prize. The prize is securing the best possible price for your home.

Your profit will be realised when we attract a cashed-up buyer, who will inspect the home on the surface then obtain a building and pest report that will influence the final dollar decision.

With this understanding we have put together this information in a way that clearly works to our final moment of truth.

So let’s get started with maintaining & repairing your home for profit.

<h2 data-block-key="i6si5">THE STAKES</h2>YOUR HOME IS YOUR GREATEST ASSETIn life and real estate it is often said that your principal place of residence is possibly your biggest asset. As passionate industry professionals, we find this true for so many people in the community whom we get the chance to represent.With this in mind it is important that as a property owner you do all you can to maintain the property throughout its lifetime to protect and grow your asset, so at the time of eventual sale you receive the best possible cash profit from your investment.YOUR HOME COULD DELIVER YOU A TAX-FERE WINDFALLSelling your home is a valuable opportunity for wealth and profit. Unlike other financial investments your principal place of residence is free from capital gains tax and stamp duty.Therefore, a chance of a tax-free gain is rare and should be seized with both hands.SELLING IS A ONE-OFF OPPORTUNITY FOR CASHSelling your home presents a unique opportunity to make a chunk of money without you having to sweat for it. Typically every dollar your home sells for over the perceived market value is worth two dollars of your hard-earned labour.For example, if you secure a price $10,000 over reserve – that saves you having to earn $20,000 pre-tax to have that $10,000 in your hand.If $50,000 is achieved over reserve, you would have to earn $100,000 pre-tax to have that $50,000 in your hand.Secure the dollars you deserve for the property you own. You get only one chance to sell for profit and then the value passes on to the next owner – so make the most of it!CLEAN AND SPARKLING HOMES SELL WELLIf you do the work for a potential buyer and your property is clean, crisp, complete and:<ul><li data-block-key="atdab">is well maintained and freshly painted;</li><li data-block-key="drvbb">has manicured lawns and the gutters and downpipes are free from rust and holes;</li><li data-block-key="c3unf">has eaves that are spotless and fresh;</li></ul>This could have a significant impact at sale time.You could earn more than $60,000 to $100,000 over reserve. The magic happens when you take the hard work out of the equation. Everyone is so busy, potential buyers are prepared to pay for somebody else’s sweat and effort. Profit from that.A HOME THAT DOESN'T REQUIRE WORK IS AN ATTRACTIVE PROSPECTMaintaining and preparing your home for profit is a successful strategy for everyone involved. Often incoming purchasers are stretched to their limit and would not qualify for a renovation loan. This is the reason why people will pay more for a finished, neat and well-maintained property. A bank will loan on a property’s actual current value.A bank does not favour lending on unfinished or damaged properties. However, if the property has a clean bill of health, the new purchaser is effectively getting a renovation loan on a product with no risk. It’s a win, win.

<h2 data-block-key="i6si5">PLANNING FOR PROFIT</h2>KEEP YOUR EYE ON THE PRIZEYou want to create the best possible home to attract the best possible buyer for the best possible price. When preparing their home for sale, some people redraw on the current loan to complete repairs quickly. Other people take a longer-term approach. We suggest making a list and spending the months ahead of time of a possible sale, project managing the repairs with a slow and steady budget approach.STEPS TO PLANBuy a hard-cover notebook and allow two pages per area and start making the to-do list of repairs:<ul><li data-block-key="dn71c">Front entry</li><li data-block-key="8inei">Driveways and gardens</li><li data-block-key="7evk0">Bedrooms</li><li data-block-key="1s9ar">Lounge</li><li data-block-key="dq1qj">Kitchen</li><li data-block-key="954ba">Bathrooms</li><li data-block-key="c0u05">Laundry</li><li data-block-key="2ql90">Decks</li><li data-block-key="84hlo">Pergolas</li><li data-block-key="e3nr4">Verandahs</li><li data-block-key="ar5nd">Garages</li><li data-block-key="2ktmq">Pool</li><li data-block-key="asrlg">External</li></ul>

THINK LIKE A PURCHASER

The golden rule of thumb is – if something needs to be repaired – fix it! Walk through and be picky – try and see what a potential purchaser will see, not what you have overlooked for years. Make a list of repairs and improvements that need to be made.

Buyers will mentally add up their perceived costs of repairing all those minor flaws and end up with an amount that is generally much higher than your actual costs will be. You may believe the repairs are insignificant, however the buyer may question the maintenance and upkeep of the rest of the property. Necessary, noncritical minor repairs and perceived owner neglect will either lower the price or lengthen the time to sell.

Look at the colour palette that you have used in your home. If you have used striking, bold colours, it might be time to neutralise them.

Your objective is to make your home appeal to the largest possible segment of the market. Ask yourself, “How many prospective buyers would feel able to move into my home with their own furniture and not want to replace the carpet or repaint the walls?” Position your property on the market to be as liveable to as many people as possible.

<h2 data-block-key="i6si5">TAKE PHOTOS OF THE REPAIRS AND STICK THEM IN YOUR BOOK</h2>Your repair and maintenance book will become your profit bible. Take the book with you to your home improvement store to save time, money and energy.DEDICATE FOUR PAGES TO YOUR TRADES SERVICE DIRECTORYAt the back of your notebook, list the contact numbers and details for all the plumbers, plasterers, painters and associated trades you will need.WALK THROUGH AGAINOnce you have done the walk through, walk through again and see what you may have missed.TYPE UP A TO-DO LISTLook at your book and see what needs to be done and type up your to-do list.INVITE ALL THE TRADES NEEDED TO QUOTE ON THE REPAIRSIncluding the materials cost, it’s worth getting everything priced to give you a factual guide to the investment.REPAIR OR OUTSOURCEMake a decision on what repairs you can do and what jobs will be outsourced.RESEARCHBefore starting, get on the web and research the latest products that can save you time and money (profit). For example, there is great tile paint for old tiles, amazing products are now available.LOOK AT DIYVisit your local hardware store and investigate what ‘do it yourself’ products are available to you. You will be amazed how the renovation systems have improved to ready-to-install kits.DO ONE ROOM AT A TIMEStart your list by committing to the discipline of doing one room at a time. This avoids turning the house into an unlivable war zone.DECLUTTER, DECLUTTER, DECLUTTERAs you are working through your rooms, it is imperative you also sort through your stuff. Decluttering a home can also be a life-cleansing process. Box up the valuables and hire a skip for the end of the road items. Be ruthless, space is everything, a home shines when it can actually breathe.COMPLETE GENERAL MAINTENANCEStay on top of your regular home maintenance tasks to avoid costly repairs in the future.Spending time now saves you hassles later. Ensure that minor repairs don’t turn into major expense.<h2 data-block-key="3pni2">TAKE PHOTOS OF THE REPAIRS AND STICK THEM IN YOUR BOOK</h2>Your repair and maintenance book will become your profit bible. Take the book with you to your home improvement store to save time, money and energy.DEDICATE FOUR PAGES TO YOUR TRADES SERVICE DIRECTORYAt the back of your notebook, list the contact numbers and details for all the plumbers, plasterers, painters and associated trades you will need.WALK THROUGH AGAINOnce you have done the walk through, walk through again and see what you may have missed.TYPE UP A TO-DO LISTLook at your book and see what needs to be done and type up your to-do list.INVITE ALL THE TRADES NEEDED TO QUOTE ON THE REPAIRSIncluding the materials cost, it’s worth getting everything priced to give you a factual guide to the investment.REPAIR OR OUTSOURCEMake a decision on what repairs you can do and what jobs will be outsourced.RESEARCHBefore starting, get on the web and research the latest products that can save you time and money (profit). For example, there is great tile paint for old tiles, amazing products are now available.

LOOK AT DIY

Visit your local hardware store and investigate what ‘do it yourself’ products are available to you. You will be amazed how the renovation systems have improved to ready-to-install kits.DO ONE ROOM AT A TIMEStart your list by committing to the discipline of doing one room at a time. This avoids turning the house into an unlivable war zone.DECLUTTER, DECLUTTER, DECLUTTERAs you are working through your rooms, it is imperative you also sort through your stuff. Decluttering a home can also be a life-cleansing process. Box up the valuables and hire a skip for the end of the road items. Be ruthless, space is everything, a home shines when it can actually breathe.COMPLETE GENERAL MAINTENANCEStay on top of your regular home maintenance tasks to avoid costly repairs in the future.Spending time now saves you hassles later. Ensure that minor repairs don’t turn into major expense.<h2 data-block-key="3pni2">TAKE PHOTOS OF THE REPAIRS AND STICK THEM IN YOUR BOOK</h2>Your repair and maintenance book will become your profit bible. Take the book with you to your home improvement store to save time, money and energy.DEDICATE FOUR PAGES TO YOUR TRADES SERVICE DIRECTORYAt the back of your notebook, list the contact numbers and details for all the plumbers, plasterers, painters and associated trades you will need.WALK THROUGH AGAINOnce you have done the walk through, walk through again and see what you may have missed.TYPE UP A TO-DO LISTLook at your book and see what needs to be done and type up your to-do list.INVITE ALL THE TRADES NEEDED TO QUOTE ON THE REPAIRSIncluding the materials cost, it’s worth getting everything priced to give you a factual guide to the investment.REPAIR OR OUTSOURCEMake a decision on what repairs you can do and what jobs will be outsourced.RESEARCHBefore starting, get on the web and research the latest products that can save you time and money (profit). For example, there is great tile paint for old tiles, amazing products are now available.LOOK AT DIYVisit your local hardware store and investigate what ‘do it yourself’ products are available to you. You will be amazed how the renovation systems have improved to ready-to-install kits.DO ONE ROOM AT A TIMEStart your list by committing to the discipline of doing one room at a time. This avoids turning the house into an unlivable war zone.DECLUTTER, DECLUTTER, DECLUTTERAs you are working through your rooms, it is imperative you also sort through your stuff. Decluttering a home can also be a life-cleansing process. Box up the valuables and hire a skip for the end of the road items. Be ruthless, space is everything, a home shines when it can actually breathe.COMPLETE GENERAL MAINTENANCEStay on top of your regular home maintenance tasks to avoid costly repairs in the future.Spending time now saves you hassles later. Ensure that minor repairs don’t turn into major expense.

<h2 data-block-key="i6si5">OUTSIDE</h2>The front of your house should be beyond reproach. It’s one of the first things a buyer sees. Sweep and wash the driveway and walkways to remove debris, dirt and stains. Remove any oil stains if possible. Repair and patch any cracks.<ul><li data-block-key="4li7i">Check your fence for any loose or broken posts and replace any rotted wood</li><li data-block-key="8ts6i">Check gutters for leaks or damage and remove debris</li><li data-block-key="crcr1">Lawn care: mow high and often. Feed the lawn with fertiliser, treat weeds, and aerate the lawn in high traffic areas</li><li data-block-key="1088q">Trim your plants back with secateurs</li><li data-block-key="1pqng">Clean out your irrigation system twice a year to ensure your plants get the best quality water and at the same time remove material that can settle in the lines and block the filters. (Unscrew the drip or spray outlets, flush the line, then clean the filter.)</li><li data-block-key="deu6o">Promptly pull out weeds or spray with specialised weed killer as soon as they appear and before they set seed</li><li data-block-key="daugp">Mulch garden beds to prevent soil drying out too quickly and hinder weed growth</li><li data-block-key="94fkp">Inspect exterior paint and touch up as needed</li><li data-block-key="816tt">Clean and seal decks if needed</li><li data-block-key="dn5s9">Cut back overhanging trees from the roofline</li><li data-block-key="4idli">Repair/replace any damaged window screen mesh</li><li data-block-key="8q11b">Inspect walls and ceilings for cracks, leaks, mildew or water stains</li><li data-block-key="756rq">Inspect roof for damage</li><li data-block-key="gc63">Winterise the pool</li><li data-block-key="27b2s">Reseal concrete areas to prevent cracking and deterioration</li></ul>

<h2 data-block-key="i6si5">INSIDE</h2><ul><li data-block-key="d79fq">Check smoke detectors</li><li data-block-key="a9d75">Clean and disinfect the dishwasher by operating it when it’s empty and putting bicarbonate soda in the detergent tray and vinegar in the rinse holder</li><li data-block-key="a2muj">Vacuum refrigerator coils and empty waste containers</li><li data-block-key="c2p36">Check doors and windows for cracked seals and peeling paint – repair as needed</li><li data-block-key="9d0vt">Dust/vacuum the tops of cupboards</li><li data-block-key="5enfg">Move furniture that you don’t normally move and vacuum thoroughly</li><li data-block-key="3autu">Inspect bathroom tiles, kitchen tiles and sinks and reseal where needed</li><li data-block-key="do06a">Soften potentially offending views, but always let light into your rooms, consider replacing heavy curtains with something lighter</li><li data-block-key="dga6i">Wash and clean all windows, curtains and blinds</li><li data-block-key="6apsp">Clean light fittings and skylights and if your kitchen has fluorescent lighting fixtures, use ‘warm-white’ bulbs for a bright appearance</li><li data-block-key="1hukj">Clean kitchen exhaust hood and filter</li><li data-block-key="eufis">Clean sliding doors and window tracks</li><li data-block-key="d1s53">Clean debris from ceiling fan blades and air conditioners fan blades before using</li><li data-block-key="10bo0">Check taps and plumbing supply lines for leakage signs</li><li data-block-key="c3ref">Test the pressure relief value on your hot water system to ensure it hasn’t seized up</li><li data-block-key="vjr4">Repair loose knobs, latches or handles on doors</li><li data-block-key="b5vrp">Make storage areas appear generous and well-planned, remove and store all out-of-season clothing</li><li data-block-key="6q3h4">Remove any items from the floor area – this will make a wardrobe seem more spacious</li><li data-block-key="30dog">Hang an air freshener in the wardrobe for a pleasant fragrance ensuring wardrobes</li><li data-block-key="8etoh">smell fresh and clean</li><li data-block-key="1lng3">Ensure all wardrobe lights are in working order</li><li data-block-key="3bilq">Add battery lights to wardrobes that lack built-in lighting, as illuminated wardrobes appear bigger and more attractive</li></ul>

<h2 data-block-key="i6si5">ORGANISE A BUILDING & INSPECTION REPORT</h2>MAKE A PREEMPTIVE STRIKE AND PAY FOR A BUILDING AND PEST INSPECTIONThese days most people will get a building and pest inspection before they purchase a property. Many owners assume they are only relevant to purchasers who generally have them conducted as part of the pre-exchange process.However, having your home inspected for structural and termite damage can be highly advantageous.Why? It gives you control over the selling and negotiation process. If no issues are found, you will have peace of mind knowing the purchaser won’t be able to use any problems as a means to negotiate the price down. And if an issue is found, you can take action to resolve it before your home is listed for sale.FOREWARNED IS FOREARMEDEven though your property may appear to be structurally sound and there is no visible indication that termites, subsidence or mould is present, there could be hidden problems lurking in the foundations, roof, plumbing or walls that only a professional can identify.Many people are worried that building and pest inspectors may uncover some terrible truths about their property. For many, this concern stops them from having an inspection. But is that logical? If something is wrong with your property wouldn’t it be better to know before you put the house on the market? Being forewarned is forearmed and puts the power in your hands. Being aware of any issues with your property allows you to take control and have them fixed and doesn’t erode your position when you put your house on the market.A BUILDING AND PEST INSPECTION REPORT EMPOWERS YOUWhile many buyers will still insist on having their own pre-purchase building and pest inspections conducted, showing them the reports you have had prepared shows them you have nothing to hide about the condition of your property and gives them less ammunition to negotiate.At the end of the day, building and pest inspections aren’t deal breakers. And it’s what we find out right now before the investment of marketing and inspections and agent’s performance fees that will protect your sale price and final profit. The report will cost less than $1,000 yet could be the vital knowledge in a negotiation that saves your sale and protects your profits.BRACE YOURSELFNow what may come back in a report may not be pretty. Please note that a building and pest inspection report and the photos that accompany it are a complete list of defects of the home, and are very different from the feature brochure that we will create as part of your marketing.Most people are shocked with the report and many misinterpret what has been noted.Remember that the report has been written by someone who only sees bricks and mortar, whereas you see the home you love. Don’t panic and remember that any prospective purchaser will be reading the same information.For example – the report may say: The home is 24 years old and ... is in need of new roof tiles. Roof tiles last approximately 25 years and need replacing on every home of that age. The point to remember here is that all homes at one time or another require maintenance, and that this is known as a capital improvement on the property.You would have to make a decision if you think that it is necessary to re-roof for sale.

<h2 data-block-key="i6si5">EXAMPLE REPORT</h2>EXAMPLE OF A REPORT ON A HOME THAT WAS IN GOOD CONDITIONBuilding Style: Two-story dwellingExternal Walls: Brick veneer, timber frame with texture-coated fibre cement sheetsRoof Construction: The roof is of pitched and skillion constructionInternal Walls: Plaster renderWindows: AluminumFootings: The building is constructed on concrete slab footingsEstimated Age: Between 40 and 50 years oldCeilings: The condition of the ceilings is generally fair. Defective surfaces were noted and maintenance will be required. Moderate settlement cracks were noted. Some repairs or maintenance will be required. Repairs are required to ceiling linings. Paint deterioration was noticed. Previous repairs have been made. Silicon has been installed where cornice cracking occurred. Lights need to be fitted to the ceiling – we recommend getting a licensed electrician to fix some light fittings.Walls: The condition of the walls is generally fair. Defective or poor surfaces were noted to wall materials and will need repair prior to next painting. Moderate moisture readings were detected throughout internal surfaces. A higher than normal moisture reading was detected above skirting level. Further investigation and repairs are required.Doors: The condition of the doors is generally fair. The sliding doors bind and need adjustment and/or repair. Paint deterioration and wear and tear was noticed. Covers for door hardware are missing to some doors. We recommend installing a fixed handrail for safety reasons.Floors: The condition of the floors is generally fair. Squeaking flooring was noted. This will require fixing to prevent movement. Previous repairs have been made; repairs/maintenance is required, as floors are not finished in some areas.Windows (interior): The condition of the windows is generally fair. Adjustment is required to some windows to ensure smooth operation. Some windows were locked and the operation was not checked at the time of inspection.Bathroom: Basin and taps – The basin and taps appear serviceable. Drainage appears slower than normal. A licensed plumber should investigate this.Windows (exterior): The condition of the exterior of the windows is generally fair. Storm moulds are not present and need to be fitted to ensure water does not penetrate through this area.Decks, Pergolas, Balconies, Verandahs and Awnings Balcony – Defects or Maintenance itemsThe loose handrail requires securing and additional support. Balustrade wires need to be tighter and we recommend checking to see if it meets regulation for safety reasons.Roof Style and Condition: The overall condition of the roof coverings is fair. Chipped/cracked tiles were noticed and repairs are required.Gutters & Downpipes: Downpipes appear to be in serviceable condition. Some downpipes appear to be missing. These should be installed. Leaves and debris are present in gutters. These should be cleared. Box gutters need to be monitored, water is ponding and re-alignment may be required.Details: Hot water system overflow needs to be diverted away from house. Smoke detectors are fitted; however the positioning, operation or adequacy was not tested and is not commented on.Air-conditioning is installed in the premises (to the study) but has not been inspected.Swimming Pool Fencing: We recommend installing a fixed handrail for safety reasons.Fences & Gates: Repairs to fences are required. The fences are mainly constructed from timber, also timber and texture coated cement seeping. The fences are generally in fair condition but some repairs or maintenance is required.Overall Property Condition: A comparison of this and other dwellings of similar age, construction and level of maintenance would rate this building as AVERAGE. There may be areas/elements requiring minor repairs or maintenance.Major Defects in This Building:Overall condition<ul><li data-block-key="amidd">The incidence of major defects in this building compared with the average condition of similar buildings of approximately the same age and construction and that have been reasonably maintained, is considered to be TYPICAL.</li><li data-block-key="8lh71">The frequency and/or magnitude of major defects are consistent with the inspector’s expectations when compared wtih similar buildings of approximately the same age, construction that have been reasonably well-maintained.</li></ul>Minor Defects in This Building:Overall condition<ul><li data-block-key="apuik">The incidence of minor defects in this building compared with the average condition of similar buildings of approximately the same age and construction and that have been reasonably maintained, is considered to be TYPICAL.</li><li data-block-key="evn42">The frequency and/or magnitude of minor defects are consistent with the inspector’s expectations when compared with similar buildings of approximately the same age, construction that have been reasonably well-maintained.</li></ul>IMPORTANT NOTE:The building rating noted is only a generalisation taking into account numerous factors, and should be read in conjunction with the notable items and main report.

The above report example is a good guide to how an incoming purchaser will view your home.

The inspector also takes photos of each defect and they are very different from the photos that we as your agent would take for marketing purposes.

If you do the report after your initial clean-up and repairs, it will definitely be a negotiation asset. Failing to do a report only plays into the hands of a purchaser as they can note items and defects discovered in a report and attempt to have their repair deducted from the price.

As your agent we would release the report prior to the offer, and clearly explain that prior to marketing a full inspection was conducted and maintenance performed has been built into the marketing price or price guide.

When it comes time to sell and more importantly negotiate the final profit price for your property, you would have wanted to do all you could to protect your final profit position.
When selling real estate the worst feeling is to lose the best buyer who is emotionally engaged with your home on the surface, yet becomes $40,000 cold due to becoming alarmed by normal issues below the surface.

<h2 data-block-key="i6si5">THE DO'S AND DON'TS LIST</h2>Now that you have gained full visibility on the property with the building and pest report you now have a detailed visual checklist and some decisions to make that will form your do and don’t list.For example – the report may say: The home is 24 years old and ... is in need of new roof tiles. Roof tiles last approximately 25 years and need replacing on every home of that age.The point to remember here is that all homes at one time or another require maintenance, and that this is known as a capital improvement on the property, so as your agent we would recommend you don’t replace the roof as you will get the life of the roof. And chances are wherever you buy may also need a new roof.In short, when selling or buying a property you take it on warts and all.

<h2 data-block-key="i6si5">PRICE UPDATE</h2>Once you have completed your property maintenance program it’s a perfect time for us as your agent to reassess the market place and the recent sales around you that have affected pricing.We would go right back through the property and take into account all repairs and improvements and re-establish your new to marketing price. Once your house is looking tip top, it could be a good time to consider getting the photos done so we can store them for marketing and start to prepare the selling list and best features of your property.Together as a team we will capture every little delightful detail and list them in our property specification pages of our detailed property booklet.

See the Value in Your Hard Work

Preparing your home for sale is a significant investment of time and energy. Ensure your efforts are focused on the improvements that truly drive profit. Our local experts can provide a tailored market appraisal to show you exactly where your property stands in today’s market - and how our 'Safe Hands' approach can help you achieve an outstanding result.

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The content on this page is provided for general information purposes only and does not constitute legal, financial, or professional advice.While we strive to ensure the accuracy of the information at the time of publication, Barry Plant and its associated entities do not guarantee its completeness or suitability for your specific circumstances.We recommend seeking independent legal and financial advice before making decisions regarding property settlements or family law matters.Image Credits & Intellectual Property: Please note that some images on this page are from iStock / Canva. These images are for illustrative purposes only, are not owned by Barry Plant, and may not be copied, reproduced, or redistributed without express permission from the respective rights holders.