In the recent Union Budget, the Finance Minister reduced the holding period for long-term capital gains to two years from the previous three years. A great move for investors, this will make exiting a property cycle quite easier.
So, is your property investment two years old? Has the revised norm compelled you enough to sell your property this year? Well, then let us tell you that selling a property involves several factors.
We live in the world of online shopping where the decision to buy vegetable to furniture to even property is influenced by the technology. While you might have started taking beautiful pictures of your home to upload on the real estate portals, we present you few tried and tested ways to sell your property faster.
Promote it yourself
While hiring a real estate agent is the easiest way out but if you have the time and energy, promoting it yourself could be the best option. After all, who knows your home better than you! You can start by spreading the word to your friends and relatives. You can also use the power of social media to get the word out. Lastly, there are several property portals that allow you to list your property free of cost!
Stand out in the Crowd
On a daily basis, online property portals receive hundreds of listings of property for sale. To stand out, photograph your home well. While adequate use of Photoshop is a good idea, making major alterations is a big NO. If the real home is a lot different than pictures posted online, it might not leave a good impression on the potential buyer.
Get your papers together
Make a folder of all the requisite documents of your property and show it to the prospective buyers. This will give them confidence that the property is free from legal hassles.
Small upgrades here and there
Let us make it clear – we are not asking you to give your home a complete makeover. Focusing on minor details can have a huge impact. Make sure everything is in working condition. Get things like the leaking pipes in the bathroom or a crack in the wall fixed before putting your home up for sale.
The most important factor is to price your home right. Do not command overtly high price, at the same time avoid showing desperation to sell by quoting a really low price.
Do your research well and read about the market trends to know the ongoing rate for your property. Also, make a list of things that you would like to highlight about your home. It could be as small as the ample sunlight in the rooms to good water supply.