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Advice on Selling your Property at Retirement

Advice on Selling your Property at Retirement

Selling your property to scale down at retirement or selling your property to move closer to children are very common reasons why people sell their properties during retirement but whatever your reason, there are a few tips you will need to achieve the best possible price for your property.

The chances are you have been living on your property for a long time when you reach retirement and have become emotionally attached to certain things, spaces and rooms. When you consider selling, as hard as it may be, you need to detach yourself from your property and look at it as a commodity which you want to realise the highest possible return on.

If we are honest with ourselves and we think back to the time when we purchased our property the value after a number of years was one of the primary factors in our retirement plan, so keep that thought in mind as you read on and discover how best to achieve the highest possible selling price. Your house is something that needs to be packaged, marketed and priced for the market, your emotional investment and memories only have value to you, not to a prospective buyer.

The best thing to do is to call in an experienced Estate Agent, get the lowdown on prices achieved in the area over the previous year or two, taking a drive past those that sold and comparing them to yours from a space and facility perspective and then at the style and finishes that these homes have.

Be frank with the agent you have chosen and disclose any potential issues that may affect the sale like seepage, ground water or other problems that would not be covered under the “Voetstoets” clause. Incidentally the voetstoets clause is increasingly coming under scrutiny with some nasty surprises for home owners who have not disclosed certain issues.

Your agent may suggest a coat of paint, new carpets or changing taps and certain fittings to help achieve a better price and these things should be taken very seriously. The agents see prospective buyers on a daily basis and know what the buyers in the market are looking for when they enter a home. This is broadly called staging your home for sale and has more often than not achieved the desired outcome. Essentially, what you are trying to achieve is to present your home to a prospective new owner in a manner that makes him feel comfortable that he will not need to spend a whole lot of extra money on the home before he can feel comfortable in the property. Remove the obstacles and obections and you are one step closer to a sale.

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