From downsizers to first home buyers and busy professionals who want a low-maintenance lifestyle, apartments in good areas are always in demand.
Mosman has an eclectic mix of apartments, ranging from luxurious modern pads to old-fashioned red brick ‘walk ups’ from the last century. These homes bring a diverse population to Mosman as they cover many budgets.
Between 200 and 300 units have sold in Mosman each year since 2018, according to realestate.com.au. The average price of an apartment in this postcode is now over $1 million, having risen from $679,000 in 2012. Despite the low stock on the market and high prices, if you are looking to sell your apartment for the best price, you still need to have a clear campaign and work with a leading real estate agent.
Here are some tips for selling an apartment in Mosman.
Nobody wants to live in a poky rabbit hole.
When preparing your apartment for sale, there are ways to make sure it looks spacious in the agent’s photos and ‘in real life’. You can remove furniture, arrange furniture so it doesn’t look crowded, swap large furniture for smaller pieces and make sure that photos highlight more spacious areas.
Having plenty of light creates a better sense of space as well. Make sure your agent asks their photographer to arrive at the best time of day to take advantage of the sun coming in.
If you have an older apartment, adding storage such as built-in wardrobes will add to the home’s appeal — storage space has become a valuable commodity and also hides clutter.
Know your market
Talk to your real estate agent about who is most likely to purchase your Mosman apartment when you are ready to sell.
Downsizers, for example, often need an extra bedroom for guests. They prefer lifts to stairs and want secure parking as well as peace and quiet.
Younger people may be happier to have a basic urban flat without all the trimmings. You can skew your marketing and even the way you style your apartment to this audience if your agent explains that young professionals or first home buyers will be the most likely to put in an offer.
Highlight the benefits
Whatever makes your apartment special, be sure to present it front and centre.
It may be the view, a private entrance or a generous balcony, or perhaps it has a study or lock-up parking space. Work with your real estate agent to make sure buyers are aware of what will make them happiest when they take over as owners.
Highlight the best parts of your home in the photographs as well as the copy and advertising headlines to attract more attention. Your agent should also share the benefits of the location, for example being close to shops, bus stops, the beach, cafes or other local attractions.
Upgrade for convenience
Before you sell your Mosman apartment, have a chat with your agent about how best to improve your little abode.
Air conditioning, for example, is a big selling point for apartments. If you don’t have time to install a unit, at least get strata approval for one to be put in.
A fresh coat of paint works wonders for any home. Aim for modern colours or stick to neutrals which are more appealing to more people. You may also need to replace the carpets to give the apartment a clean new look. Remember that your home probably isn’t the only one buyers will see on open day so make sure everything is presented in a way that looks great and sticks in their mind as the easy choice.
These days, most people don’t want to move into a place that will immediately need renovating. Find out how much it would cost to put fresh cupboards and tapware in the kitchen and/or bathroom and whether that could help you sell for more.
When listing a Mosman apartment to sell, first impressions count. You want your buyer to be excited before they even step through the door. A premium real estate agent will work closely with you to ensure your property stands out from all the local competition.
Contact De Brennan Property for advice on selling your apartment in Mosman.