Listing a waterfront property for sale can command top-dollar on the real estate market, but you have to be wise in how you do it. Read on to learn more!
Putting up a waterfront property for sale can be frustrating, especially when you’ve got a gorgeous home. After all, it’s hard to imagine anyone could resist a lakeside view, with their domestic amenities bordering the water so closely.
It’s true that many properties are sold at unprofitable prices. But it’s also true that there are many strategies meant to maximize profit instead.
By perfecting your game plan, you can hit a great sale with no compromise. All it takes is research and some aesthetic finesse.
So if you’re selling waterfront property in Halliburton County, keep reading. We’ll give you seven tips that can help you hit the max price on your waterfront property for sale.
1. Understand Your Buyer
It can get difficult to sell a piece of property on the waterfront because not many people are looking for one. You’d need a buyer with a mintier budget, who loves the water and might want a vacation home.
Of course, it’s best to try and appeal to any prospective homebuyer. But specifying your market will help you attract more people best-suited for that property in the first place.
2. Familiarize Yourself With the Property
It’s difficult to know how to sell waterfront property if you don’t understand the property itself. That’s because sellers are supposed to be most informed about the property in question. After all, you’re the person buyers will turn to about information on the house.
Having no confidence and/or information on the home won’t give them the confidence needed to commit to the sale. But if you’re able to provide them with intimate details of the house, this allows them to imagine living in it more vividly, which will encourage them to snag it before anyone else can.
Location, square footage, any non-water-related key features; all of these are crucial for the approval and confidence of your buyer. Not only will they have more of an appreciation of the property’s little details, but they’ll have confidence in your expertise as a seller.
3. Calculate True Market Value
There’s a lot that goes into calculating a property’s market value, so repeating the number that you paid as a homebuyer won’t suffice. Instead, you should be going with the price that will profit you best while allowing your house to be sold fast.
Don’t undersell or oversell yourself. Waterfront properties tend to have higher property value because they face the water. Adding impractical and low-utility features to your home won’t increase the property’s value, and may even decrease it.
Even if you understand general real estate mechanics, it’s best to understand the current real estate market. That, plus an understanding of the national and local economy, will help you gauge a smart price.
4. Perfect Your Photography Skills
Nowadays, many homebuyers start their househunting journeys online. So when you upload pictures of your property online, understand that you’re uploading your first impression.
While you may not need to have decent photography skills, you should at least know someone who has.
5. Take Advantage of Waterfront Aesthetics
If your property’s star characteristic is its waterfront status, capitalize on it as much as you can. While you should be beautifying every part of your home, make sure that you put extra love into the landscaping around the water.
There are numerous ways to spice up your landscaping game. You can create a beautiful pathway to the dock that leads to the water. Outdoor lighting also adds a ton of dimension, providing essential illumination while adding a soft ambiance.
The key is accessorizing the water without overwhelming it. So go out and buy your shrubbery, glass lanterns, and white wicker chairs. You’ll be happier with the equity you get out of this bout of home improvement.
6. Hire a Home Inspector
For both buyers and sellers, hiring a good home inspector is great for peace of mind. This is especially important for selling waterfront property, whose faulty design could render it susceptible to mould.
Although you may reassure buyers that your home is well-protected, buyers may exercise skepticism since they know you need a sale. But with an objective third party like an inspector, they’ll know that the property is up to local building codes and regulations.
7. Renovate/Repair the Dock
There are many popular outdoor renovation ideas, but dock renovations are the most profitable. That’s because they’re incredibly useful, which increases property utility. And as we’ve covered, an increase in property utility means an increase in property value.
So if you’ve got a lacklustre or faulty dock, make sure to refurbish it. Doing so will function as a financial investment.
In fact, make use of the newly-renovated dock by demonstrating its potential utility. Casual outdoor seating, potted plants, a fishing setup; with a few basic modifications, you can show your buyer exactly why their future property is worth the high price tag.
Waterfront Property for Sale — But Not for Long
When it comes to learning how to sell waterfront property, it’s important to cover your weaknesses and capitalize on your strengths. By doing both, you’ve got a powerhouse of a real estate plan that’s bound to optimize your sale.
Trillium Team has been in the industry since 1995, providing exceptional real estate service since its inception. To this day, we dedicate ourselves to equipping Haliburton Highlands with a team of real estate experts for local home buyers and sellers.
So if you’d like to talk about your listing, contact us today. Tell us a little more about your gorgeous waterfront property for sale!