With the economy under pressure, so are home owners who want to sell their properties during a downturn.
Rowan Alexander, director of the Alexander Swart Property Group says the market has been under pressure for some time, specifically in some areas and specifically in the R4m-plus price bracket.
This leaves prospective sellers with a home that can sit for up to 25 weeks before moving, often at well below the asking price.
Alexander cautions owners to make an informed choice:
If you are in a pressurised market you need to consider, is it the right time to sell? Do you really need to sell? If you do put your property on the market, give it its best shot when you do go to market.— Rowan Alexander, Director - Alexander Swart Property Group
By this he means making your home as attractive as possible after likely neglecting the exterior during a time of drought, especially in Cape Town.
Of those that have a good first impression, those are the properties that are moving quickly, even within those spectrums where there's a lot of competition, where the markets are under pressure - it's the well presented, well maintained properties that are selling first.— Rowan Alexander, Director - Alexander Swart Property Group
If you look at properties that sell below the market value in a particular area, it will always be the one that has degenerated.— Rowan Alexander, Director - Alexander Swart Property Group
And there is professional help available.
There are a lot of companies out there that have been assisting home owners by looking at alternative irrigation systems, installing water-wise plants.— Rowan Alexander, Director - Alexander Swart Property Group
This has been a learning curve for us as a community. We shouldn't just stop giving attention - we need to be innovative and find creative ways of still making these comfortable spaces.— Rowan Alexander, Director - Alexander Swart Property Group
Alexander points out that in South Africa, property plays a big part in retirement planning and people are very aware of the big investment they're making.
He advises improving the look of your home by starting with the basics.
The small things, just by starting the maintenance and making a habit of it you'll quickly find how that instills that house-proudness again and quickly translating into an attractive property and one that will easily sell when you need to sell it.— Rowan Alexander, Director - Alexander Swart Property Group
For more tips on maximising your home's selling points, take a listen:
This article first appeared on CapeTalk : 'Tweaking' your property to get the best selling price in a depressed market