Tips for Barbados
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Preparing your Home for Sale
Has your property been on the market for a while? Have you had prospects in and out but no offers? It could be the market, the price, or it could be you need to do a little preparation.
First impressions really do count... and with these simple tips you could see just what a dramatic difference they make:
CURB Appeal
Stand back objectively and look at the exterior of your home comparing it to your neighbours' properties. If you don’t feel excited will a potential buyer? Think about it seriously:
- When was the last time the lawn was mowed and the hedges tidied?
- Have the gutters been cleaned out recently?
- Could the window frames benefit from a coat of paint?
- In this climate is mildew my friend or foe?
- Have the flagstones in the garden always been that uneven?
- Could the children's toys look a little neater ... or be put away?
- Do the excess weeds and over grown plants indicate that my home looks the same inside?
The thought of dealing with these important first impressions may overwhelm you, so consider hiring a handyman or landscaping service. They should be able to take care of it fairly quickly and inexpensively.
Depersonalise & Declutter
Your buyers want to be able to imagine the life they could make for themselves in their beautiful potential new home. You need to ensure nothing clutters that vision. So even though gorgeous and full of lovely memories for yourself, take down ALL the photographs of your daughter, husband, wife, granny, puppies, and so on that line the hallways and grace the walls. The ones in the bedroom too, and the living room, and everywhere else in the house. Also the masterful easter collage your kids made at camp last year that’s pinned on the fridge. You prospects need to see themselves in this space, not you.
And then there is the clutter, all the bits and pieces you’ve accumulated the years and basically forgot you had. ow's the time to either a) throw them out, b) give them to charity or c) find proper, neat places for them in a cupboard or on a tidy shelf. You might even consider having a garage sale. Some of the things that you should think about:
- Books, CDs, DVDs and old records albums ... its amazing how many people still have these.
- Ornaments and keepsakes
- Kitchen tools and appliances that currently live on the counters
- Potted plants
- Posters & stickers on your children's bedroom walls or mirrors
Some sellers have even rented storage space to temporarily keep any extra furniture that could be making their house feel crowded. Be radical - remove half the furniture in your living room and see how spacious, sleek and light it looks and feels without it. As a general guide, there should be enough space for people to move around the room unhindered, and enough furniture to convey the room's purpose.
Spring clean
In the Caribbean we walk about “turning the house upside down” ... well just DO it! Clean everything in sight and that which is not (buyers always open cupboards and look behind doors). Get out the rag, mop bucket and off you go:
- Dust the skirting boards
- Clean the windows (inside and out!) and then polish them with newspaper for extra shine
- Dust light fixtures and empty out the dead bugs
- Polish your wooden furniture and air out the soft upholstered cushions
- Sweep, mop and vacuum like there's no tomorrow
- Get rid of cobwebs and wipe off ceiling fans
- Polish taps and mirrors
- Scrub the shower, tub and sinks - lime build up is brutal
- Bleach tile grout or re-grout areas that may need more attention
- Clean out the refrigerator and deodorise it by a) placing an open box of baking soda inside it to soak up odours and b) wiping down the inside surfaces with vanilla extract
- Scrub the oven clean
This may all seem a bit over-the-top, but prospective buyers are notoriously nosy and judgmental.
Repair, restore, revamp
The devil is in the details, and the sale of your home could be hampered by simple little things that you've stopped paying attention to. Try to look at your home from the perspective of your buyer, and think about the details that would impress or deter you if you were in their position. Then take care of those details immediately:
- Replace broken light bulbs and fittings
- Fix leaky taps
- Fix doors and drawers that don't open or close properly
- Repair cracks in the walls
- Touch up paint and repaint altogether where necessary (in a neutral colour)
- Hang up fresh towels in the bathroom
- Get a new shower curtain and bathmat (again, choose neutral shades)
- Get rid of that busy wallpaper that you loved five years ago. Remove it and then paint the walls - don't simply paint over it, as it will be obvious to your buyer and make the wallpaper difficult to remove
- Eradicate odours - particularly those from cigarette smoke, mildew and pets. Open the windows and air out your house. Simply masking bad smells with a perfumed air freshener won't do the trick
- Replace cushion covers, bedspreads and curtains that are worn or have garish colours and patterns
Bring in the Light
Lots of natural light usually tops the list of things people are looking for in a home. There are some clever ways to maximise the light in your house - natural or otherwise - and give the impression of having plenty of bright, airy space.
- Replace dim light bulbs with higher wattage
- Don't just pull open those heavy, dark curtains - pull them down altogether
- In areas of your house that are particularly dark, install some extra light fixtures
- Repaint darker rooms with light-coloured and light-reflecting paint
- Prune any trees or vines that are casting shadows inside the house
Pet patrol
No buyer wants to be greeted at the door by your charming King Charles Spaniel. Or any other breed of dog, cat, rabbit, hampster and so on. If possible, remove pets altogether when you're showing your property. Ask a friend or family member to take them off your hands for awhile, or better yet, take Cujo for a walk yourself. This brings us to our next point.
Make yourself scarce!
Presumably your real estate agent knows what they’re doing and has sold some houses before. Why not leave them to get on with it? No offence, but prospective buyers don't really want you hovering over them while they're trying to nose around in your wardrobe and pass judgment on your crockery. It's a bit off-putting. If they feel awkward, they're much less likely to linger in your home and get the full impact of how great it is and how they'd very much like to buy it.
Extracts from Primelocation.com
First impressions really do count... and with these simple tips you could see just what a dramatic difference they make:
CURB Appeal
Stand back objectively and look at the exterior of your home comparing it to your neighbours' properties. If you don’t feel excited will a potential buyer? Think about it seriously:
- When was the last time the lawn was mowed and the hedges tidied?
- Have the gutters been cleaned out recently?
- Could the window frames benefit from a coat of paint?
- In this climate is mildew my friend or foe?
- Have the flagstones in the garden always been that uneven?
- Could the children's toys look a little neater ... or be put away?
- Do the excess weeds and over grown plants indicate that my home looks the same inside?
The thought of dealing with these important first impressions may overwhelm you, so consider hiring a handyman or landscaping service. They should be able to take care of it fairly quickly and inexpensively.
Depersonalise & Declutter
Your buyers want to be able to imagine the life they could make for themselves in their beautiful potential new home. You need to ensure nothing clutters that vision. So even though gorgeous and full of lovely memories for yourself, take down ALL the photographs of your daughter, husband, wife, granny, puppies, and so on that line the hallways and grace the walls. The ones in the bedroom too, and the living room, and everywhere else in the house. Also the masterful easter collage your kids made at camp last year that’s pinned on the fridge. You prospects need to see themselves in this space, not you.
And then there is the clutter, all the bits and pieces you’ve accumulated the years and basically forgot you had. ow's the time to either a) throw them out, b) give them to charity or c) find proper, neat places for them in a cupboard or on a tidy shelf. You might even consider having a garage sale. Some of the things that you should think about:
- Books, CDs, DVDs and old records albums ... its amazing how many people still have these.
- Ornaments and keepsakes
- Kitchen tools and appliances that currently live on the counters
- Potted plants
- Posters & stickers on your children's bedroom walls or mirrors
Some sellers have even rented storage space to temporarily keep any extra furniture that could be making their house feel crowded. Be radical - remove half the furniture in your living room and see how spacious, sleek and light it looks and feels without it. As a general guide, there should be enough space for people to move around the room unhindered, and enough furniture to convey the room's purpose.
Spring clean
In the Caribbean we walk about “turning the house upside down” ... well just DO it! Clean everything in sight and that which is not (buyers always open cupboards and look behind doors). Get out the rag, mop bucket and off you go:
- Dust the skirting boards
- Clean the windows (inside and out!) and then polish them with newspaper for extra shine
- Dust light fixtures and empty out the dead bugs
- Polish your wooden furniture and air out the soft upholstered cushions
- Sweep, mop and vacuum like there's no tomorrow
- Get rid of cobwebs and wipe off ceiling fans
- Polish taps and mirrors
- Scrub the shower, tub and sinks - lime build up is brutal
- Bleach tile grout or re-grout areas that may need more attention
- Clean out the refrigerator and deodorise it by a) placing an open box of baking soda inside it to soak up odours and b) wiping down the inside surfaces with vanilla extract
- Scrub the oven clean
This may all seem a bit over-the-top, but prospective buyers are notoriously nosy and judgmental.
Repair, restore, revamp
The devil is in the details, and the sale of your home could be hampered by simple little things that you've stopped paying attention to. Try to look at your home from the perspective of your buyer, and think about the details that would impress or deter you if you were in their position. Then take care of those details immediately:
- Replace broken light bulbs and fittings
- Fix leaky taps
- Fix doors and drawers that don't open or close properly
- Repair cracks in the walls
- Touch up paint and repaint altogether where necessary (in a neutral colour)
- Hang up fresh towels in the bathroom
- Get a new shower curtain and bathmat (again, choose neutral shades)
- Get rid of that busy wallpaper that you loved five years ago. Remove it and then paint the walls - don't simply paint over it, as it will be obvious to your buyer and make the wallpaper difficult to remove
- Eradicate odours - particularly those from cigarette smoke, mildew and pets. Open the windows and air out your house. Simply masking bad smells with a perfumed air freshener won't do the trick
- Replace cushion covers, bedspreads and curtains that are worn or have garish colours and patterns
Bring in the Light
Lots of natural light usually tops the list of things people are looking for in a home. There are some clever ways to maximise the light in your house - natural or otherwise - and give the impression of having plenty of bright, airy space.
- Replace dim light bulbs with higher wattage
- Don't just pull open those heavy, dark curtains - pull them down altogether
- In areas of your house that are particularly dark, install some extra light fixtures
- Repaint darker rooms with light-coloured and light-reflecting paint
- Prune any trees or vines that are casting shadows inside the house
Pet patrol
No buyer wants to be greeted at the door by your charming King Charles Spaniel. Or any other breed of dog, cat, rabbit, hampster and so on. If possible, remove pets altogether when you're showing your property. Ask a friend or family member to take them off your hands for awhile, or better yet, take Cujo for a walk yourself. This brings us to our next point.
Make yourself scarce!
Presumably your real estate agent knows what they’re doing and has sold some houses before. Why not leave them to get on with it? No offence, but prospective buyers don't really want you hovering over them while they're trying to nose around in your wardrobe and pass judgment on your crockery. It's a bit off-putting. If they feel awkward, they're much less likely to linger in your home and get the full impact of how great it is and how they'd very much like to buy it.
Extracts from Primelocation.com
Information for Purchasers or Vendors of Property in Barbados
Purchaser's Position
The expenses incurred by a Purchaser (there is no distinction between National or Non-National purchasers due to recent amendments to the Barbados legislation) will be as follows:
Property Transfer Tax - Nil
• Proportionate part of land tax - This amount will vary depending on the value of the property and the time of the transaction
Out-of-Pocket Expenses - BDS$300 (Approximately)
It is necessary for a Non-National purchaser to remit the purchase price to Barbados in foreign currency, after which it will be converted into Barbados currency and registered with the Exchange Control Authority of Barbados to facilitate a subsequent repatriation. Exchange Control Authority permission is also necessary for the purchase itself. This is usually readily obtainable once the purchase monies have been registered.
Legal Fees are legislated as follows:
1. Up to $25,000 - $1,000
2. On the next $75,000 – 2.5%
3. On the next $100,000 – 1.5%
4. On the next $300,000 – 1.25%
5. Thereafter – 1%
VAT of 15% is payable on legal fees
Vendor's Position
The expenses incurred by a Vendor (there is no distinction between National or Non-National vendors due to recent amendments to the Barbados legislation) will be as follows :
Property Transfer Tax
If land only – 2.5% of the Purchase Price
If house and land - first $125,000 exempt, 2.5% on the excess
Stamp Duty - 1% of the Purchase Price
Land Tax - This amount will vary depending on the value of the property and the time of the transaction
Land Surveyor's fee - Approximately BDS$1,500.00
Real Estate Commission - Normally 5% of the Purchase Price (plus 15% VAT)
Out-of- Pocket Expenses - $300 (Approximately)
Legal Fees are legislated as follows:
1. Up to $25,000 - $750
2. On the next $75,000 – 2%
3. On the next $100,000 – 1.5%
4. On the next $300,000 – 1.25%
5. Thereafter – 1%
VAT of 15% is payable on legal fees
The expenses incurred by a Purchaser (there is no distinction between National or Non-National purchasers due to recent amendments to the Barbados legislation) will be as follows:
Property Transfer Tax - Nil
• Proportionate part of land tax - This amount will vary depending on the value of the property and the time of the transaction
Out-of-Pocket Expenses - BDS$300 (Approximately)
It is necessary for a Non-National purchaser to remit the purchase price to Barbados in foreign currency, after which it will be converted into Barbados currency and registered with the Exchange Control Authority of Barbados to facilitate a subsequent repatriation. Exchange Control Authority permission is also necessary for the purchase itself. This is usually readily obtainable once the purchase monies have been registered.
Legal Fees are legislated as follows:
1. Up to $25,000 - $1,000
2. On the next $75,000 – 2.5%
3. On the next $100,000 – 1.5%
4. On the next $300,000 – 1.25%
5. Thereafter – 1%
VAT of 15% is payable on legal fees
Vendor's Position
The expenses incurred by a Vendor (there is no distinction between National or Non-National vendors due to recent amendments to the Barbados legislation) will be as follows :
Property Transfer Tax
If land only – 2.5% of the Purchase Price
If house and land - first $125,000 exempt, 2.5% on the excess
Stamp Duty - 1% of the Purchase Price
Land Tax - This amount will vary depending on the value of the property and the time of the transaction
Land Surveyor's fee - Approximately BDS$1,500.00
Real Estate Commission - Normally 5% of the Purchase Price (plus 15% VAT)
Out-of- Pocket Expenses - $300 (Approximately)
Legal Fees are legislated as follows:
1. Up to $25,000 - $750
2. On the next $75,000 – 2%
3. On the next $100,000 – 1.5%
4. On the next $300,000 – 1.25%
5. Thereafter – 1%
VAT of 15% is payable on legal fees
20 Tips to selling your home
As a homeowner, you can play an important part in the timely sale of your property. When you take the following steps, you’ll help TERRA CARIBBEAN sell your home faster, at the best possible price. The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional. The right professional can help you get everything in order - from repainting the kitchen to providing a thorough cleaning - so you can stay focused on more important things.
1. Make the Most of that First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. The fewer obstacles between prospects and the true appeal of your home.
2. Invest a Few Hours for Future Dividends
Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
3. Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.
4. Don’t Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a final sale.
5. Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
6. Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
7. Consider Your Closets
The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.
9. Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
10. Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.
11. Lighten up at Night
Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
12. Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
13. Watch Your Pets
Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
14. Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
15. Relax
Be friendly, but don't try to force conversation. Prospects want to view your home with a minimum of distraction.
16. Don't Apologize
No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your experienced Terra Caribbean Agent handle the situation.
17. Keep a Low Profile
Nobody knows your home as well as you do. But Terra Caribbean Sales Agents know buyers - what they need and what they want. Your Terra Caribbean Agent will have an easier time articulating the virtues of your home if you stay in the background.
18. Don't Turn Your Home into a Second-Hand Store
When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
19. Defer to Experience
When prospects want to talk price, terms, or other real estate matters, let them speak to an expert - your Terra Caribbean Sales Associate.
20. Consult your Terra Caribbean Agent
When you have any doubt or concerns about any aspects of selling your property – contact your Terra Caribbean agent. They will be happy to help and offer professional assistance on any matters pertaining to the listing, marketing and sale of your property.
1. Make the Most of that First Impression
A well-manicured lawn, neatly trimmed shrubs and a clutter-free porch welcome prospects. So does a freshly painted – or at least freshly scrubbed – front door. The fewer obstacles between prospects and the true appeal of your home.
2. Invest a Few Hours for Future Dividends
Here’s your chance to clean up in real estate. Clean up the living room, the bathroom, the kitchen. If your woodwork is scuffed or the paint is fading, consider some minor redecoration. Fresh wallpaper adds charm and value to your property. Remember, prospects would rather see how great your home really looks than hear how great it could look "with a little work."
3. Faucets and Bulbs
Dripping water rattles the nerves, discolors sinks, and suggests faulty or worn-out plumbing. Burned out bulbs or faulty wiring leave prospects in the dark. Don’t let little problems detract from what’s right with your home.
4. Don’t Shut Out a Sale
If cabinets or closet doors stick in your home, you can be sure they will also stick in a prospect’s mind. Don’t try to explain away sticky situations when you can easily plane them away. A little effort on your part can smooth the way toward a final sale.
5. Think Safety
Homeowners learn to live with all kinds of self-set booby traps: roller skates on the stairs, festooned extension cords, slippery throw rugs and low hanging overhead lights. Make your residence as non-perilous as possible for uninitiated visitors.
6. Make Room for Space
Remember, potential buyers are looking for more than just comfortable living space. They’re looking for storage space, too. Make sure your attic and basement are clean and free of unnecessary items.
7. Consider Your Closets
The better organized a closet, the larger it appears. Now’s the time to box up those unwanted clothes and donate them to charity.
8. Make Your Bathroom Sparkle
Bathrooms sell homes, so let them shine. Check and repair damaged or unsightly caulking in the tubs and showers. For added allure, display your best towels, mats, and shower curtains.
9. Create Dream Bedrooms
Wake up prospects to the cozy comforts of your bedrooms. For a spacious look, get rid of excess furniture. Colorful bedspreads and fresh curtains are a must.
10. Open up in the Daytime
Let the sun shine in! Pull back your curtains and drapes so prospects can see how bright and cheery your home is.
11. Lighten up at Night
Turn on the excitement by turning on all your lights - both inside and outside - when showing your home in the evening. Lights add color and warmth, and make prospects feel welcome.
12. Avoid Crowd Scenes
Potential buyers often feel like intruders when they enter a home filled with people. Rather than giving your house the attention it deserves, they're likely to hurry through. Keep the company present to a minimum.
13. Watch Your Pets
Dogs and cats are great companions, but not when you're showing your home. Pets have a talent for getting underfoot. So do everybody a favor: Keep Kitty and Spot outside, or at least out of the way.
14. Think Volume
Rock-and-roll will never die. But it might kill a real estate transaction. When it's time to show your home, it's time to turn down the stereo or TV.
15. Relax
Be friendly, but don't try to force conversation. Prospects want to view your home with a minimum of distraction.
16. Don't Apologize
No matter how humble your abode, never apologize for its shortcomings. If a prospect volunteers a derogatory comment about your home's appearance, let your experienced Terra Caribbean Agent handle the situation.
17. Keep a Low Profile
Nobody knows your home as well as you do. But Terra Caribbean Sales Agents know buyers - what they need and what they want. Your Terra Caribbean Agent will have an easier time articulating the virtues of your home if you stay in the background.
18. Don't Turn Your Home into a Second-Hand Store
When prospects come to view your home, don't distract them with offers to sell those furnishings you no longer need. You may lose the biggest sale of all.
19. Defer to Experience
When prospects want to talk price, terms, or other real estate matters, let them speak to an expert - your Terra Caribbean Sales Associate.
20. Consult your Terra Caribbean Agent
When you have any doubt or concerns about any aspects of selling your property – contact your Terra Caribbean agent. They will be happy to help and offer professional assistance on any matters pertaining to the listing, marketing and sale of your property.
