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.
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 thanremodeling 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.
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.
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.