How To Sell Your Home During A Slowdown

Any home seller or realtor will concur that a recession is not the best time to sell your resale apartment in India. There are few takers and you need to market your home in a way that it appeals to serious end-use buyers, as they are the ones who will be in the market in a slowdown.

As an owner of ready to move in flat in India who want to dispose of the property, you must bear in mind the following that affect end users:

1. Price of the home

Your home must be reasonably priced so that end-users take an interest in it. Pricing it above the market clearing rate in your neighbourhood would turn buyers away instantly while pricing it much lower may plant suspicions in the minds of buyers who would think there are some grave issues that the home suffers from, such as legal disputes or construction problems. The correct way to go about pricing your home would be to survey some of the resale apartments in Bhubaneswar, for instance. Compare your apartment with it and analyze whether your proposition is a better one and then put a price. Have a margin of 2-3% when pricing your resale home as buyers will inadvertently want to negotiate on the price. This margin will allow you to negotiate and realize an amount that suits your needs.

2. Engaging a real estate agent

Without doubt, it is a herculean task to sell your home by yourself during a recession. Buyers are hard to come by on your own and you need some help to get your home in their radar. Real estate agents usually have contacts who would be interested in an apartment such as yours. They will also help you show your home to potential buyers without being physically present and hard bargain with buyers to get you a good price. Real estate agents often have contacts with lawyers who would help sort the legal details.

3. Repair the minor flaws

As your home ages, it is bound to have undergone wear and tear. When a home buyer comes to visit your property for sale in Mumbai, for instance, you need to make sure that the basic structure of the home is intact. There are some household fixtures that you should ensure are in order. Some of them are:

• Loose hinges of cabinet doors, doors to rooms and wardrobes.

• Leaky taps in bathrooms and kitchens.

• Broken lamps and bulbs in any room.

• Cracked walls and damp patches.

While getting your home repaired, you could also get your ready to move apartments in Bhubaneswar painted. A distemper or whitewash would do the trick. Do not invest too much in getting your home painted as you may not realize the cost.

4. Making the exterior attractive

If you live in a bungalow or villa in India, you can better the curb, front garden and the facade of the home. Hire a gardener to de-weed your front lawn and prune the flowering shrubs. Clean out all the loose articles from the front of your home and store them elsewhere. The walk up to the home should be a pleasant one as buyers take only 30 seconds to decide whether they want to buy a home.

5. Not holding out for too long

Your home may be important to you as it holds a lot of fond memories. However, the same emotions may not be shared by the buyer. Therefore, when you get good offers, do not hold out thinking you will strike gold later. In future, the offers pouring in may be worse!