TIPS FOR SELLING YOUR SECOND PROPERTY!
Category Sellers Guides
For those who own a second property or holiday home, they will know that it represents years of pipe dreaming, carefully planning and a desire to better one’s life. It is for this reason that selling a holiday home might be a greater challenge, but could also be a far more rewarding endeavour.
“Consumers who are looking at purchasing a holiday home more often than not want to fulfil a lifelong dream. Whether it started at childhood visiting a certain location every year, or whether it has developed due to a need to have a more balanced lifestyle and place to get away from the worries of everyday life, owning a holiday home is what many aspire to,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
Regardless of whether a holiday-home owner is looking to upgrade, downsize or just sell, Goslett says that there are a few things that they can do to help them sell their second home and possibly make someone’s dream come true:
Highlight features that holiday home buyers are looking for
When marketing and taking photos of the property, focus on the home’s elements that will be of particular interest to a holiday home buyers. Some of these features could include a swimming pool, views of the ocean, mountains or lake, access to a golf course or spa and proximity to amenities such as entertainment and shopping facilities.
Remember it’s more than just a home
Goslett notes that consumers purchase a holiday home for more than just what the home has to offer. “Very often holiday home buyers have decided to purchase a property in a certain area because of the area and not necessarily the home itself. Holiday home buyers often purchase because of the surroundings and things that they can do within that location, such as water sports or hiking,” says Goslett.
While highlighting the property’s selling features is important, Goslett adds that the seller should also focus on emphasising the story of the surrounding community and the numerous things that the area offers.
Consider renting it to a potential buyer for a holiday period
A holiday home is one of few types of properties where a try-before-you-buy concept can work well. “If the holiday home is not being used for a weekend or holiday, why not let it out to potential buyers to allow them to get a feel for the property and the area. It is a win-win situation for both parties as the owner can make some extra money while waiting for the property to sell and buyer will know whether it is the right property for them,” says Goslett.
Patience is key
According to Goslett, the biggest difference between a primary residence sale and a holiday home sale is that it is not about the buyer needing a roof over their head. This means that a holiday home or investment buyer will not be in a rush to make their final decision. This will take some patience on the seller’s part.
Have data and figures available
Goslett says that one concern that all property buyers have is the cost of owning and maintaining the property, so if possible sellers should have all the figures and data available for potential buyers to have a look at. “Many holiday-home buyers may want to rent out their property while they are not making use of it in order to defray some of the ownership costs. Having accurate financial information at hand will enable them to better assess the viability of the purchase and have realistic expectations,” advises Goslett.
He concludes by saying that selling a holiday home is about selling the lifestyle and not just the property.
Author: REMAX SA