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A Guide to Selling your House on the Mornington Peninsula
The Mornington Peninsula has gained popularity in more recent years with its luxurious coastal waters and serene landscape. The peninsula features natural landforms and iconic geographic locations such as Mount Martha, Mount Eliza, and Arthur’s Seat. Right off the coast of Victoria, Australia, any property situated along the coastline receives glorious views of the clear water and gorgeous scenes overlooking the water. The Mornington Peninsula is more than just nature’s paradise. The peninsula features great opportunities in commerce, trade, and self employed workers who thrive off their flexible work schedule. More and more people are migrating to the peninsula whether it be younger generations looking for a scenic destination or older retirees wanting to spend their golden years in relaxation.
In relation to Australia itself, the Mornington Peninsula is located southeast of Melbourne. Various physical features surround the peninsula with Port Phillip located to the west and the Western Port to the east; the Bass strait is located to the south. Mornington Peninsula has quickly adjusted to become more than a tourist attraction with a year round population of around 135,000 people.
Mornington Peninsula is a home to those who love the calm environment of the ocean but still crave the hustle n’ bustle of city life. The beach life routine of Mornington Peninsula is only a mere 100 kilometers away from Melbourne. There is housing for all with beachside mansions for the wealthier individuals and more modest weatherboard flats for more practical buyers.
Real estate buyers are always looking to help buyers find their right place and for sellers to market their properties and homes at profitable prices. Mornington Peninsula can provide such a relaxing, laid back experience but in hindsight, downsizing from expensive coastal property can be more desirable in the future.
Methods of Selling Real Estate on the Mornington Peninsula
After making the final decision to sell the real estate property, there are several moving and selling options most have yet to acknowledge. Sellers can choose to list their property as an open listing and place their homes on the market through several different real estate agencies. There is also another option called the multiple listing in which the seller works with a real estate agent through an entire company of multi-listing realtors. The most likely to be seen is the option where an exclusive listing is completed with only one real estate member running the show in selling your house.
Open Listing and Multi-Listing
There are more obvious advantages in going with an open or multi-listing; more agents or real estates are helping the sellers promote their house, giving the property far more exposure. There’s also a lower commission that has to be paid by the seller with open and multi-listed properties on the market. Owners can even do their own advertising and don’t always have to provide commission funds to agencies if they end up selling their property themselves.
While the advantages sound appealing, in reality there are more disadvantages as an open or multi-listing creates boundaries and mild tension between agencies. Some will want to direct their clients in taking a lesser price in order to sell their property faster, giving the owner less profit off their house post selling.
Because of this lower price, real estate agents will have more faith in the numbers, therefore placing less effort in marketing it. This can lead to a longer selling time and significantly less value than what the house is actually worth. Buyers look to multi-listed houses or open ones as the discount section of a retail store.
Why an Exclusive Listing May be the Better Choice
When you choose to list your home as an exclusive listing, it is inevitable to have a higher commission price, but this money can usually be made up by the otherwise higher marketing price. With an exclusive listing, a realtor will work with you to appraise the house and property and get it geared towards the most profitable price. More than likely, the sellers decided price will exceed any money lost to any fees given to the real estate agency.
Other advantages of an exclusive listing include:
- More undivided attention with the real estate agent
- Personalised attention towards marketing and getting a higher price for the property
- Additional marketing strategies for faster selling
- In the event of an open house, a real estate agent will provide a much better service
- A more personal level of assistance from a singular agent instead of multiple coaches. This permits one on one attention that is geared more to the seller than multiple company intentions
Our Real Estate Service Locations in Victoria, Australia
The Mornington Peninsula is located in Victoria, Australia with these locations in the area having companies with experience who can best help a seller place their property on the market.
Ways to Sell Property Faster
1. Take the time to research the market
Viewing the other options available for similar homes and properties located in the same area can give a general description of what price should be asked for your home and property. Look at interior and exterior design, the date in which it was built, and other additions to the property that could either increase or decrease the value of the home. Many real estate agencies offer free appraisals for sellers, giving another reasonable estimate to work with. The provided realtor can give additional insight with more quantitative data that is useful in making the final decision.
2. Attend to minor repairs around the home
While this doesn’t mean go and blow thousands of dollars on home improvements, taking small measures like a basic paint job, quick sanding, decluttering, and fixing or getting rid of any broken items or areas in the house. Even basic home improvements can be done rather cheaply to make the home look newer and more polished. This can help the selling process go much smoother if the house looks in good condition.
3. Attend to the outdoors
Making improvements to the exterior of the house such as cleaning out the garage gutters or decluttering, even sweeping out the garage will make a huge difference. Most homeowners in general think of the garage as the last part of the house that they would want to clean out. The gardens are another appealing way to attract buyer interest and make a considerable first impression when potential clients are viewing the property. Basic gardening doesn’t take long, especially if done in small increments at a time. Mowing the lawn never hurts either, the fresh smell of recently cut grass gives a homey feel and puts some people in a happier state of mind.
4. Involve professional help
Getting free appraisals, working with professionals like solicitors will provide professional input on legal advice with properties and taxes. A real estate lawyer can help the client understand how contracts and legal documents are involved in the selling process as well as knowing the best ways to work with particular regulations and rules when dealing with marketing. The Section 32 Vendor’s Statement for example is a legal requirement when selling property on the Mornington Peninsula, as well as in another area in Victoria. Any licensed contractor, local agent, and other experienced professional will assist in the majority of the selling and buying process.
What are the Benefits of Downsizing your House?
Besides decreasing the massive amount of space of a larger home, many people will downsize for the following reasons:
● Reducing the amount of energy and money used for maintaining the property
● Lessening the amount expenses on for house mortgages and the essential utilities
like electricity and water
● Saving up funds that can be used for other enjoyment purposes
● A smaller house uses less energy and reduces the size of the carbon footprint
● A new home can be a fresh start and a smaller space for a new beginning of life
Moving to a smaller home can seem like a huge transition, especially when accustomed to living in such a spacious house and living on expansive property. However, being able to have a smaller space can have monetary benefits and allows for getting creative and creating a more cozy space.
Does it Spark Joy? Tips for Reducing the Mess
Selling a house is enough to want to make some stress out and want to throw out everything they see in sight. Fortunately, there are a few tips that can help lessen the stress of deciding whether or not to keep certain items. A few questions that can help include:
● Have I used this item in the past 2 years or so?
● If this item was broken, would I want to purchase a new one?
For older people who have been around the block several times will look to downsize to a smaller home and can use the following decluttering ideas to help:
1. Childhood Memories and Keepsakes
For those who are parents, more often than not, after a son or daughter moves out, many of their childhood belongings have remained in the home. In the event of moving and downsizing, reaching out to family close by can help lessen the amount of items needed to move from home to home. Sentimental items can be given and extra objects can be donated to charity or thrown out.
2. Clothing, shoes, and wearables
The majority of people have their closets stuffed with articles that they neither fit in or wear on a regular basis. Lessen the amount of things by donating gently used clothing to charity or recycling it.
3. Books or movies
Books and movies are good collectibles, but sometimes downsizing means making sacrifices. Personal favorites can be kept, but the ones without that sense of warmth or excitement should be thrown out or given away.
4. Sports, yard, and outdoor equipment
Living so close to the water on the Mornington Peninsula can act as a great way to accumulate water based equipment like kayaks, canoes, paddle boards, and more. These can be sold for a respectable price and definitely lessens the clutter in the yard or garage.
5. Kitchen utensils, dishes, and utensils
These household items are more easily disposed of when downsizing as there isn’t always the need for so many dishes. Kitchen equipment is always needed but there are always tools or dishes that aren’t used on a regular basis.
Potential Buyers of Mornington Peninsula Real Estate?
Potential Buyers of Mornington Peninsula Real Estate?
The Mornington Peninsula is attracting interest from buyers from the suburban areas of Melbourne. Those from the baby boomer era are coming to downsize to a more tranquil area
or are looking for a more scenic change in environment. Likewise, some who are living in Mornington Peninsula wish to downsize from larger beachfront homes to more modest areas on the peninsula. Mornington real estate has also noticed a growing desire for properties with the unmarked, non constructed areas of Mornington.
Benefits of living on the Mornington Peninsula
Mornington Peninsula provides a pleasant experience without a high energy atmosphere. Not technically established as a vacation resort area, it provides decent places for everyday living with educational opportunities, shopping places, public transportation, and commercial areas.
For everyday purchases, grocery stores, and restaurants, Mornington Peninsula features various shopping centers and plazas for the shopaholics to enjoy. A more popular place to go out is the Rosebud Plaza Shopping Center. It features a massive area of economic activity with chain stores, retail, and various pop up shops and boutiques to admire. The Main Street in Mornington, is an equally popular shopping location for everyday needs and more.
For the artists and creatives, Flinders of Mornington Peninsula features various artist galleries and hardware stores with local goods and the practical elements for the home. After a long afternoon of shopping, locals and visitors alike will enjoy delicious foods at their artisan bakery, Flinders Sourdough.
Mornington has its Racecourse Market, Portsea Market, Emu Plains Market in Balnarring, and RedHill Community Market bursting with handmade products and jewelry, house decor, and more to purchase.
Educational opportunities aren’t scarce in Mornington Peninsula with over 50 educational schools and services available for people of all ages. While only Mornington Secondary is the only public high school situated in the peninsula itself, the others are within accessible reach and have various opportunities for athletics and extracurricular activities as well.
For primary school students, Mornington has various schooling options including:
● Mornington Primary School
● Kunyung Primary
● Mount Eliza Primary
● Benton Junior College
● Mount Eliza North Primary
● Osborne Primary
For those leaving the high school environment, Toorak College of Mount Eliza will provide one of the best educational experiences. Mornington also has a similar school experience at the Peninsula School to attend as well. Another option is Padua College. Despite being a
Catholic based school, the cost of tuition isn’t going to break the bank, and the school itself has excellent opportunities for furthering the education of its attendees.
Work and Public Transportation
Most residents do have cars, but moving across the peninsula is far from difficult with the amount of public transportation services at hand from buses, trains, and taxis.
Residents simply use what is called a ‘Myki’ card. These are purchased all across the more common retail stores and specific locations like 7-Eleven gas stations.
Mornington Peninsula residents live within close working distance to do their jobs in the Melbourne city area. Trains run to Melbourne and to Frankston stations about every 15 minutes on Monday to Saturday, and on Sunday, every 20 minutes.
The Mornington Peninsula is a great place to grow up, settle down, and everything in between. Selling property on the Mornington Peninsula can be an easy experience with the right resources, assistance, and marketing strategy to those interested in an experience close to paradise.