Planning for Profit



1. Start making a to do list of repairs.
* Front entry                   * Decks                        * Driveways & gardens    *  Pergolas                     
* Bedrooms                    * Verandas                   * Lounge                          * Garages
* Kitchen                        * Pool                           * Bathrooms                     *  External
* Laundry

2. Think like a Buyer
The golden rule of thumb is - if something needs to be repaired - fix it! Walk through and be picky-try
and see what a potential purchaser will see, not what you have overlooked for years.
Make a list of repairs and improvements that need to be made.

Buyers will mentally add up their perceived costs of repairing all those minor flaws and end up 
with an amount that is generally much higher than your actual costs will be.
You may believe the repairs are insignificant, however the buyer may question the maintenance
and upkeep of the rest of the property. Necessary, noncritical minor repairs and perceived owner
neglect will either lower the price or lengthen the time to sell.

Look at the colour palette that you have used in your home. If you have used striking, bold colours,
it might be time to neutralise them. Your objective is to make your home appeal to the largest
possible segment of the market. Ask yourself, "How many prospective buyers would feel able to move
into my home with their own furniture and not want to replace the carpet or repaint the walls?" 
Position your property on the market to be as liveable to as many people as possible.

The market is always driven by buyer demand and the average buyer will have difficulty looking beyond
bright carpeting and / or bold wallpapers.

3. Take photos of the repairs and stick them in your book
Your repair and maintenance book will become your profit bible. Take the book with you to your
home improvement (e.g. Bunnings or Masters) to save time, money and energy.

4. Dedicate four pages to your trades' service directory
A the back of your notebook, list the contact numbers and details for all the plumber's plasterers,
painters and associated trades you will need.

5. Walk through again
Once you have done the walk through, walk through again and see what you may have missed.

6. Type up a to-do list
Look at your book and see what needs to be done and type up your to-do list.

7. Invite all the trades needed to quote on the repairs
Including the materials cost, it's worth getting everything priced to give you a factual guide to the investment.

8. Repair or outsource
Make a decision on what repairs you can do and what jobs will be outsourced.

9. Research
Before starting, get on the web and research the latest products that can save you time and money (profit).
For example there is great tile paint for old tiles, amazing products are now available.

             

 

 

 

* CHECK LIST