When you plan to sell or rent your home for the best price possible, make sure you have a well-prepared property for prospective buyers or tenants to view. Below are a few tips to consider before you allow any homebuyers or renters to visit your home.
Don’t disappoint your visitors with a messy or smelly first impression of your home. Cleaning is the most important thing before you open your home to sellers or renters. If you don’t want to do this yourself, hire professional cleaners to do it for you. It's a small investment with a strong return.
In addition, pay special attention to bathrooms, kitchens, general living areas and backyards. Make sure there are no dirty dishes, unclean bathrooms or dust where there shouldn’t be dust. Creating a nice smell before visitors arrive with some fresh flowers that can help to create a welcoming first impression.
Repair small problems
When you intend to sell or rent your home, you need to check and repair minor things such as door hinges, doorknobs, locks, faucets, appliances, water heaters, gas cookers, lights, drainage (especially if you want to sell a house in rainy season) and toilets. If you can find these problems now, get them repaired immediately before your buyers or renters see them. If the buyers or renters find them before you, they will use these reasons to lower your home’s price.
A renovation is a good option if you want a better price for your home. This is especially true if you are targeting expats to rent or buy your property - as these types of buyers may want a more contemporary style than most Cambodian style homes. Prospective buyers or tenants tend not to complain about the price if they see your home equipped with modern design and decoration; which at least gives the appearance of higher value home. In Phnom Penh, unrenovated flat houses in BKK2 and BKK3 can be found with a rental price from $700 to $1,000 per month. After the renovation, the same flat houses can rent with prices starting from $1,200 to $1,400 per month.
Getting a valuation letter certifying your home’s true value also contributes to a higher sale price. A professional real estate valuer has a specific skill to value your home price depending on the actual market conditions. A quality valuation will convince the buyer of the objective value of the property and give them trust in the transaction.
The real estate valuation agency will evaluate your property based on your home’s detailed and definite information and comparative market prices, and then issue a valuation report for owners to be used as a proof to show buyers or tenants.
For the valuation report, you will be charged at least $150, based on the type of the property and how detailed the report. You can apply for a valuation from a professional valuation firm now on realestate.com.kh. Now, the official commission and valuation is officially applied. You can also check more on how to calculate the valuation fee here! If you are renovating your house, it is also a good idea to do a valuation before the renovation begins - and then again after you have completed the renovations. That way, you know clearly the value you have added with the improvements. You can also ask the valuer during the first valuation what changes they suggest to increase the value of the home - and then this advice can direct your renovations.
Stay up-to-date on the real estate industry in Cambodia and get real-time updates on real estate news as they happen. Download the Realestate.com.kh App now!