Selling your property is almost always an emotional and challenging time for homeowners, doubly so during the turmoil of Covid-19. That’s why having a firm grasp of the property market, an excellent real estate agent and a broad understanding of the best ways to sell your home in the current climate is really important.
The first question most people ask themselves is: Should I sell my home during the Coronavirus crisis? Many are worried about the impact of Coronavirus on house prices, buyer interests and the viability of selling their home while restrictions are in place.
These worries are certainly an important consideration, however, there is also plenty of good news to give sellers hope. While the Covid-19 outbreak has affected many parts of the economy it has also helped to buoy the price of homes in many areas of Canberra and the ACT. The ACT has had new highs every month from April 2019 to May 2021, which means two years of solid growth (Nowroozi ABC 2021). In fact, in the last year to July 2021 ACT dwelling values were up by 20.5% and the annual change in sales volume for Canberra increased by 25.7% (Core Logic 2021). This means that while the world faced uncertainty, the housing market has been a source of stability and growth.
With interest rates at an all-time low, government stimulus, greater savings rates, low unemployment, and high demand, now might be a really good time to reap the rewards of the high property prices.
With that in mind, the second question that most people ask themselves is: How do you sell your home during Covid-19?
How to Sell Your House During Covid
Get an experienced real estate agent
Selling your home by yourself is hard enough, much less during the turmoil caused by Coronavirus. That’s why a great real estate agent can really make a big impact on your bottom line. They can help you navigate the constantly changing rules and restrictions, offer you advice on how to properly present your home, guide you on how to make the switch to digital inspections, and counsel you on the best way to make your sale a success.
Boost your property’s online presence
For many years now people have turned to the internet to get a first glimpse of the properties available for sale, even more so when there is nothing to do at home but sit by your computer and surf the web. Your top priority should be to make your online presence as inviting as possible. The first step is to take excellent, high-resolution photos of your apartment and create an appealing description of your offering. Since the Coronavirus crisis, it has also become the norm to create a video walkthrough of the property and even consider more cutting-edge solutions like creating a 3D virtual tour of the house.
Switch to digital inspections and viewings
The virtual world is more important than ever when people can’t physically look at properties in person. The good news is that buyers are becoming more comfortable with inspecting properties online in Canberra and the ACT. While there is no substitute for seeing a place in person, there has been plenty of success with virtual inspections.
Consider private viewings when they are allowed
If physical inspections are allowed then private viewings can be a great way to allow people to see the place, while also minimising the risk posed by something like an open house. Private viewings are more difficult to schedule but they also come with the added benefit that the potential buyers are able to see the home without others around, allowing them to really envision themselves living there.
Adhere to Coronavirus safety restrictions and advice
If private viewing or open houses are available you should take precautions to make your property as safe as possible for your buyers. Have hand sanitiser ready, put up signs promoting basic health practices, and maintain social distancing. This will not only reduce the risk it will also make your potential buyers more comfortable with being there in person.
Core Logic 2021, ‘Monthly Chart Pack Our Insights. Your Story. August 2021’, viewed 23 August 2021.
Nowroozi, I. 2021, ‘Canberra gains more than a dozen 'million-dollar suburbs' in two years as house prices rise rapidly’, ABC, viewed 23 August 2021, https://www.abc.net.au/news/2021-05-10/canberras-new-million-dollars-suburbs/100125866
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