April 06, 2022
The resale residential property market in Singapore has had quite a roaring year in 2021, with 19,962 transactions done – up sharply by 86% from 10,729 resale deals in 2020. The robust demand for housing had helped to fuel growth in private home prices. A similar story unfolded in the HDB resale market as BTO construction delays and strong demand for homes boosted HDB resale flat values in 2021. The number of resale flats sold jumped by 25.3% from 24,748 in 2020 to 31,017 in 2021.
With home prices still relatively firm as of time of writing, some owners may be contemplating on selling their home and recycling the proceeds into buying another property. PropNex projects that the resale market will remain lively in 2022, backed by demand from Singaporeans and HDB upgraders.
Before you embark on listing your home for sale, here is a checklist that could be helpful in making sure your home leaves a good impression on prospective buyers – which hopefully leads to a swifter deal conclusion and at a desirable price.
It may be good idea to schedule a deep clean to ensure every corner, nook and cranny is well-cleaned. Counter tops, shelves, tables and all surfaces should be dusted, wiped and scrubbed. The cleaning extends to sinks, the bath tub, mirrors, glass panels and grouting in the bathroom too. That’s not all, having deep cleaned the interior, the seller should pay attention to the exterior of the home. For instance, is the corridor strewn with litter, is it cluttered, or are the walls dirty? Having a clean, sparkling home can greatly increase the appeal of the property.
This goes hand-in-hand with deep cleaning. Over time, many households tend to accumulate a fair amount of personal possessions – clothing, books, toys, appliances, and accessories. Some of them are tucked away out of sight, but bulkier items such as overflowing book shelves are more difficult to hide and can make the space appear messy. It is advisable to start the decluttering process well ahead of listing the property as it may take weeks to clear up the home, depending on how cluttered it is. The general idea is to throw, recycle or donate items that are no longer required, freeing up space in the home. This is important as a cluttered space may distract prospective buyers from properly evaluating the property. The goal is to make sure the property looks as minimal and clean as it can be.
Some tips on decluttering would be to organise items into categories and store away in boxes to be kept out of sight. For bulkier items that you can’t bear to throw away or too large to be kept in a box, you may consider sending them to a storage facility. When all that is done, take a final look at your home and remove any pieces that are less appealing to the eye or make the space feel crowded.
Peeling paint, stained walls, and broken fixtures can make the property look run down and worn out. It could be worth the effort to have some areas re-painted to freshen up the space a few weeks beforehand. In addition, make sure repairs are carried out on any broken fixtures. For example, fixing the door that would not shut properly, a chipped cabinet, a rusty window sill, a loose handle on the wardrobe, a dripping shower head. These may appear small and insignificant, but they do influence buyers’ perception of the property.
Apart from making sure all the lights work, it may be good to swap out old bulbs for newer and brighter ones so that the space is well-lit. Consider adding a lamp if a certain spot in the home is too dim. During the day, do ensure that the space gets as much natural light as possible. The more the prospective buyers can imagine the place as a welcoming and cosy home, the better it is.
Having plants at home has been said to improve wellness and could even help to reduce stress. A dash of green could certainly make the home a warmer and cosier one despite living in an urban city jungle – but do prune and discard plants that have wilted.
As with cleaning the house, furniture should be vacuumed and wiped down – crumbs on the carpet or pet fur on the sofa would not leave a very good impression. Furniture that seemed out of place or blocking access to certain parts of the room should also be re-positioned or removed.
Pets can bring lots of joy to their owners. However, they do mean that the home will require more frequent cleaning. Apart from keeping pet areas tidy, ensure that any pet smells – it could be that litter box – are eliminated before inviting a potential buyer over for a viewing.
Staging and prepping the home is one of the first steps to take before putting your property out on the market. It sounds like a lot of work but homeowners can get some help from a variety of vendors on the OVVY app.
April 1, 2022