We look at simple ways to make your home more appealing to a wider cultural market.
Recognising what appeals to other cultures can see you reach a broader market and (hopefully) secure a faster sale of your home.
Australia popular among Chinese investors
It’s possible for foreign investors to buy property in Australia, and the latest research into Chinese direct investment by accounting firm KPMG and The University of Sydney China Studies Centre shows Australia remains the favoured destination for Chinese investment.
Nonetheless, strict rules apply to foreign ownership of residential property in Australia especially when it comes to existing dwellings. Unless the property is earmarked for development, foreign investors can generally only buy an established home if they plan to use it as their primary residence in Australia.
A mixing pot of cultures
Even disregarding the market created by overseas investors, Australian society is highly multicultural. Taking a sympathetic approach to the views of other cultures can give your home broader market appeal at sale time.
It can help to be mindful of the superstitions or traditions of other cultures. The Chinese language for instance, has many ‘homonyms’ – words that sounds the same but have different meanings, and numbers can have strong associations.
The number 8 for instance, or a number featuring 8 – like 18, is considered lucky because in the Chinese language ‘8’ sounds similar to the word for ‘prosperity’. On the other hand, the number 4 is regarded as unlucky because its pronunciation sounds similar to ‘death’.
You can’t change your street or apartment number but you can pick an auction date that doesn’t include the number 4. Or try listing your home for an asking price featuring a lucky number – like, say, $368,000 instead of $364,000.
Keep it neutral
De-cluttering your home and reducing the number of personal possessions on display doesn’t just add a sense of space it also all depersonalises the place – and that can be a plus for cultural sensitivity. Displaying posters, flags and other paraphernalia with strong emotional associations can put buyers off.
Speak buyers’ language
If you live in an area with a large migrant population, talk to your listing agent about having marketing material like brochures and flyers designed and translated for specific cultures.
The bottom line is that anything that helps a buyer connect to your home could be the thing that sees you secure a quick sale at a great price.
If you enjoyed this article be sure to share it on Facebook & Twitter or comment below.