How to Make the Most of an Open Home

An open home is a valuable asset in the real estate market. Whether you are buying or selling, it is a great way to ensure you get a good deal and return on your investment. The number of real estate agents in Point Cook running open homes is at an all-time high. If you want to make the most of an open home, what are some practical points to keep in mind? We have put together a few tips from both a buyers and sellers perspective.

When Buying

When you are in the market for a new property, an open home is a must before making a purchase. A few things to consider when attending are:

Ask Questions

You can never ask too many questions when considering investing your hard-earned savings. Think about the neighbourhood, the property itself, the climate, and any renovations. All of these factors can have an impact on the price and quality of the investment. Having the right information can help you assess the true value of the property and also ensure you don’t end up overpaying.

Take Your Time

You don’t need to rush when attending an open home. Real estate agents will usually ensure there is ample opportunity to make a thorough inspection of the entire property. Be sure to inspect every room, note the minor details, look for signs of wear and tear, and even think about any changes you would like to make in the future. By slowing down, you can really determine if this property is a good match for your current needs.

Note the Competition

As the name suggests, an open home is open to the public. Usually no appointments are needed and anyone with an interest can attend. It’s a good opportunity to gauge how much interest there is in the sale. You can determine if there is any urgency in making an offer, how much of an investment may be required, and who else may be interested. If there is low attendance, it may be an indicator they are struggling with the sale which could lead to you offering a lower amount.

When Selling

It is easy to imagine the numerous benefits of attending an open home when looking to buy. But, what about when selling? What makes a good open home?

There are a lot of factors to consider: the timing, the advertisement, the host. All of these things are a crucial part of the puzzle. The positive news: you don’t need to think about it alone. The best real estate agents in Point Cook will handle all of this for you and ensure you get the best possible price for your precious home. If you are looking to sell anytime soon, or are interested in open homes currently on the market, get in touch with Established Property today.