Check! What home buyers want in Mount Isa
If you’re looking to sell your Mt Isa home or investment property, you need to put yourself in the shoes of potential buyers. That means knowing what Mount Isa property buyers are looking for and then making your property as marketable as possible before you put it up for sale.
Selling a house in Mount Isa
There are two basic types of residential property buyers – investment property buyers and owner-occupiers. Let’s look at each group of buyers in turn.
Investment property buyers
According to the most recent census figures:
- 76% of Mt Isa residents rent their accommodation.
- the median weekly income of Mt Isa residents is 73% higher than the Qld median.
- the median age of Mt Isa residents is 32, five years younger than the Qld median.
All of these factors reflect the fact that many mine workers between the ages of 25-35 come to work in Mount Isa and they tend to rent their accommodation.
Investment property buyers tend to be older buyers in their 40s and 50s who are more financially established. They may live in Mount Isa already and be looking to grow their wealth by buying an investment property, or they may be based elsewhere and looking to capitalise on Mt Isa’s lucrative investment property market.
What investment property buyers are looking for
Investment property buyers are looking for a great return on investment (ROI). They are more numbers driven and less emotionally invested than owner-occupier buyers tend to be. They will evaluate their ROI potential in terms of both tenant income and the opportunity for a property’s value to increase over time.
Properties with the best ROI potential for property investors include those that:
- are in good condition and therefore not in need of any substantial repairs. Selling a house that needs repairs can put off a lot of potential buyers.
- are low maintenance in terms of the need for ongoing upkeep.
- have potential for cost-effective renovations and improvements to be done without overcapitalising.
What owner-occupiers are looking for
Owner-occupier buyers will imagine themselves living in your property, so it needs to suit their lifestyle and how they picture themselves living there on a day-to-day basis. Common owner-occupiers groups in Mount Isa include:
- first home buyers taking advantage of the $15,000 first homeowner grant.
- families with parents aged in their 30s and young children.
It will be important that your home meets the tastes of owner-occupiers to attract this group of potential buyers. Ideally, it should have the potential to cater for their changing needs over time (for example, space for growing families).
Checklist before putting your home on the market
With the holiday season upon us, you probably have some spare time on your hands. You can use that spare time to spruce up your property to maximise its value. Here are some obvious things to consider:
- Make sure your yard and gardens are as tidy as possible. Invest in some low maintenance plants to make your home look inviting.
- Clean your gutters.
- Consider replacing worn out carpet or damaged tiles.
- Fix any leaky taps
- If you have peeling paint in any areas of your home, consider a fresh coat.
How we can help
Our sales team at Jays Real Estate in Mt Isa can provide you with some selling house tips to make your home as marketable as possible to buyers before you list it. We’d be happy to walk around your property with you (or visit it if you’re an out of town investment property owner). We can advise you on the best renovations to do before selling, as well as what not to fix when selling a house.
Getting your property ready for sale is crucial to getting the best possible price. We have been servicing the needs of property sellers in Mount Isa and north west Queensland for over 50 years.
Contact us today to talk with a real estate agent who has local knowledge you can trust.