Just wanted to encourage anyone who's thinking about, or thought about the value of property styling for selling. We have just today signed a deal on a unit in Sydney that we believe we added $20k-$25k, just by completing the following:
* Gave notice to tenants, Uni students who weren't doing the unit any favours in terms of presentation! * Repainted entire unit in a neutral shade * Re-carpeted (carpet was 10 years old) * Purchased new or near new furniture off eBay, Gumtree and used as display furniture. Kept it minimal, clean and modern * Ensured our RE Agent applied the best marketing techniques to push for a quick sale
I'd be happy to email anyone pics of our efforts. All in all, it was worth the effort for the bottom line result!
I should add, the above cost us approx $2,500 total. That includes $1900 in carpet, $400 in paint and only a minor outlay for display furniture as we will sell it all and acquire back at least 70% of our initial outlay (due to some serious bargain hunting on our part!). Some big ticket items (like the lounge, outdoor furniture set) we borrowed.
Why is everyone asking to email pictures? Just put them here for everyone to see. Can I ask how you got the price comparison? A link to the property would be nice.
Catalyst – the price comparison came from recent sales in our block/ immediate area (PriceFinder) – of units with similar specs (size, aspect etc).
As the unit is still in the cooling off period I'd prefer to retain privacy at this stage. As I said, I'd be happy to email pics to individuals and I have.
Karen that's a great tip We got a broken, stainless steel fridge, only a few years old for free off Gumtree. We also got a broken, large plasma for $15 off Gumtree. Amazing what you find when you dig…
Excellent idea! I had wondered how all was so cheap,but being in non working order suits the display purpose perfectly,well done for thinking outside the box Amy
I have an old lockup shop that I purchased many moons ago for a pittance.
Its no longer any real value as a shop .. since the area has a proper mall nearby. So i got it as a commercial space .. for a couple of bucks instead of a heap of bucks.
It has residential upstairs, so that has got rented out for a cheap but fair rent. I basically own the shop outright so as long as there is someone paying for upstairs thats fine by me.
But here is the kicker.
Downstairs is used as a storage compartment for everything i might need. Its got all the tinkery things I need for sprucing up a place .. a set of chairs, a cheap lounge setting .. a couple of vases … a bit of intricate lively carved bits of wood, a bookshelf and some blandish important looking books. Boxes of old documents and papers .. its like a storage facility without the ongoing hire costs. Cheap .. useful and brilliant. The renter pays the bills for me and the lot downstairs for storage is a freebie.
The shop has a professional looking frontage so it looks occupied the whole time. It has a business title and no business phone number. This is basically done to make it look occupied and prevent theft.
So to sum up, I have turned a useless old shop into a storage area for my sprucing up stuff and old documents, and have a renter paying my overheads on the place. Capital gains? sure .. but in the meantime its got a use too.
To scare you as to how cheap I purchased it .. it cost me 120,000 and I paid in cash. So eight years down the track .. its been not only a great idea .. but a hell of an investment too.