What home buyers are looking in Canberra this year

If you’re looking to out your home on the market this year, you may want to consider renovating first, says Eoin Ryan-Hicks, from L J Hooker. The Kippax-based sales manager believes Canberra buyers are savvy when it comes to the kinds of houses they are looking for. So, we sat down with him recently to find out what kinds of homes are selling right now.

Firstly Eoin, are Canberra buyers wanting finished homes or ‘fixer-uppers’?

“Well, the Canberra clientele are predominantly public service employees or contracted businesses to the public service, and as such they are relatively unwilling to do renovations on their new home. And if they are, they’re looking to pay a very ‘reasonable’ price for it. Because of this, we are seeing places that aren’t renovated sit quietly on the market for far longer, and they tend to attract a lesser sale price with a more significant vendor discount.”

So, when it comes to renovations, what are buyers keen to see?

“Over the past five years, renovation costs have increased, and so buyers tend to be more interested in property where the renovations in these areas are already complete. In some cases, buyers won’t even inspect a home if it doesn’t have updated bathrooms and kitchen, but also updated flooring and paintwork. It’s just not worth their time.”

Can you explain a little more about paintwork. Is that just inside the property?

“Yes, definitely inside the home, but some houses may need it on the outside as well. There are exceptions, however, as Canberra has quite a few properties that have a ‘heritage look’, and you don’t want to mess with that kind of facade too much, especially if you’re in the older suburbs. We generally want to avoid super modern homes in quiet, quaint character-filled street – they simply won’t sell. Buyers tend to move to the older suburbs for the heritage ‘look and feel’. Having said that, if the property is in dire need of repairs externally, you’ll need to try to fix it up, while also keeping that character. Generally, though, buyers are far more worried about the internal condition of a house.”

And when it comes to flooring, what is a good option? Are new rugs enough?

“No, I would say the flooring that buyers look for and what works best in most properties is timber flooring, hybrid timber or timber-look laminate. Hybrid timber is actually a great option as it looks like real timber but it’s far more durable, doesn’t scratch as much and it’s more waterproof. However, Canberra buyers are still looking for carpets in the bedrooms as the winter months are actually quite cold, and unless you have underfloor heating, carpeting works best. Getting out of bed on a minus five-degree day without carpet just isn’t fun and buyers definitely recognise that.”

Thinking of selling? Eoin is just one of the trusted partners Your Property Profits works with to help Canberrans renovate their homes before sale. If you’re looking to make more money from your house sale, or your facing repossession Facing Foreclosure Or Repossession? Here Are Your Options and need financial help straight away, find out how we can help you. Contact us today for a free chat about your home.