The New Year is upon
us, and for many, that means starting the search for a new home. The Canadian
housing market is showing no signs of slowing down, which means lots of
available inventory and lots of competition. So, how can you make your home
stand out among the crowd? Here are some tricks of the trade.
Renovations:
If your home is in need of an update, now is the best time
to do it. Putting your home on the market when it is in need of renovations can
put it far behind the competition, or force you to compromise on price more
than you want to.
The most important thing to remember is that unless you are
looking to perform major repairs, the most common renovations that add value to
your home are updates to the kitchen or bathroom, new windows or doors,
finished basements and hardwood floors.
If you don’t have the funds to invest in a brand new
kitchen, consider just replacing the cupboard doors and handles. This easy fix
is much more cost-effective than
remodeling your whole kitchen, and will make a significant
visual difference.
The power of paint:
A fresh coat of paint is a cost-effective way to update your
home. Fill any nail holes with putty
before painting to give the walls a fresh look.
It’s best to opt for neutral colours for the interior. Colours
should appeal to the widest array of buyers to avoid alienating anyone. It’s
easy for a buyer to paint after they move in, but most buyers aren’t hoping to
see a to-do list when they enter a potential new home.
Clear the clutter:
Something to keep in mind when you are selling your home is
that buyers need to be able to envision themselves in the space. Knick knacks,
family photos, children’s toys and other signs of your day-to-day life can be
distracting for buyers. If necessary, consider investing in a small storage
unit for the short time the home is on the market.
Consider staging:
Staging professionals often advise sellers to “mentally move
out”, or emotionally disconnect from their property. This can be particularly
difficult, but once you start looking at the home from an impartial
perspective, it is often easier to see through a potential buyer’s eyes.
Your regular maintenance should also include the grounds
surrounding the house. Curb appeal adds to the all-important “first
impression”, and some buyers may turn away from a poorly maintained property,
regardless of how nice the interior is.
When it comes to furniture, scaling
is important. After years of living with it, you may not notice that your large
sofa is making your living room look smaller. A buyer will definitely notice.
Consider browsing MLS listings for
pictures of homes similar to yours. How do the rooms look?
Is the setup appealing? Take a few sample pictures of your own home to compare
and start paring down.
If you lack the time or the critical eye, professional
staging companies have made it easy for home owners to make their homes
sparkle. Many companies offer furniture on loan while the property is for sale
if you are not going to be living in the house while it’s being sold.
Pricing your home properly:
Ensuring you are listing your house at the proper price is
essential. Working with a real estate agent is one of the best ways to make
sure you are doing so. Pricing your home too high, or too low, can both be
detrimental to the selling process.
A professional real estate agent should go over the pricing
and marketing strategy for the home with you,
and show you several examples of comparable properties in
your area to support the agreed-upon price.
Regular maintenance:
Once your property is show-ready, be prepared to keep it
that way. You may have showings at short notice, and you will want to be able
to accept all showing requests until the house sells. Light cleaning daily will
be much easier than a heavy clean before a showing.
Talk to a Mortgage Broker:
If you’re selling your current home, chances are you have
your eye on a new property. Whether you’re upsizing, downsizing, or changing
neighbourhoods, contact a Mortgage Broker or Agent and make sure your financing
is in place and up to date.
Please visit our website at
www.mortgagebrokers.ca
for today’s best rates and to contact one of our mortgage professionals.
