Getting your home ready to sell
by Dave Williams
TD economist Diana Petramala issued a quarterly housing report in 2014 showing that she believed the Canadian Housing Market was 10% overvalued. On a more local note in Ottawa she predicted that sales would remain stable with nearly 14,000 houses selling each year…but that the average price of a house would drop 4.2% by the end of 2015.
What if you have to sell your home between now and then?
Nearly a decade later we know that the market contiued to rise and The Tulip Team is still here to help you get your house sold.
How you ask, Preparation!
Getting your home ready to sell is the greatest difference YOU can make in your homes final sales price.
First of all start educating yourself about the local real estate market. Watch homes coming on the market, how long it takes for them to sell, what they are selling for, ect. As you prepare for the sale of your house you can start timing the best time to hit the market, when the competition is low (during off seasons when not many homes are for sale) or the demand is high (as a wave of sales start hitting the area, or houses like yours are selling for more than asking) jump on the opportunity.
Your time line to sell may vary, so starting from short term preparations here they are
- Get a Professional Cleaning Crew – Car dealer know that their cars have to gleam, furniture stores take 25-50% of for a mere scrape, ding, or tear. So make sure your home is at it’s peak showing condition, have it scrubbed from top to bottom, inside and out. Make sure the windows let as much light it as possible, get rid of cobwebs and dust and given a little more time…
- Have the Home Freshly Painted – Neutral colours give you the widest appeals, while strong vibrant colours limit the appeal, but a fresh coat makes the home look it’s best. Painting is widely considered the Highest Return on Renovation Dollar when selling a home.
- Fix Everything – In the spirit of selling your home at it’s best, to get the best price possible YOU MUST make sure every little repair detail is taken care of. Bargain hunters know that anything “as is” carries a deeply discounted price, traditional buyers look at little defects and overvalue thier repair costs (typically by x4 it’s real cost, we’ve seen it so many times). So get out your trowel, or hire a handyman for a day but GET IT FIXED, because good enough is not good enough.
- Get an Early Maintenance Check – Have your furnace, hot water tank, sceptic system, ect checked by a professional and keep the reports for potential buyers to show what good condition, or repairs are needed to the mechanical systems. This will help give buyers peace of mind, and security in making an offer.
- Add Value to High Impact Rooms – Given some more time to prepare for the sale of your home you can focus on adding value through renovations. Most of these renovations will not make you more money, but will raise your chances of selling in a competitive market. We encourage people to make these sort of renovations for themselves, years before they sell so they can enjoy them.
- Hardwood – A home with hardwood, looks better shows better and sells better that it’s carpeted counterpart. In a competitive market, a deep, rich hardwood that shines from the natural light will set your house a step ahead of the others in a buyers mind.
- Kitchen & Bathrooms – The greatest draw to getting buyers in your home is the kitchen & bathrooms, and the more buyers you showcase your home to the better your chances of a quick sale. While buyers crave luxury (at bargain basement prices) there are numerous low cost kitchen upgrades & low cost bathroom upgrades that make these high draw rooms look amazing.
- Create Extra Space – A great way to set yourself above the local competition is to add space, with built in storage, finished basements, loft hangouts, or a backyard clubhouse (though the boys may not forgive you for building it just before they move.) While each house is different if you can add a flexible or unique space you can make your house stand out to potential buyers.
Now it’s (almost) time to sell.
As part of our outstanding service, when listing a house for sale we pay for a professional stager to come out to your house and create a staging plan to make your house look it’s absolute best. Decluttering, Staging each room to create a flow and spacious appearance and making sure the houses Curb Appeal is top notch are what we consider one of the most important factors to selling your home for the best possible price.
TheTulipTeam.com is owned and operated by Bill Meyer, Sales Representative 613-788-2113 with RE/MAX Hallmark Realty Group, Independently Owned and Operated 613-236-5959
Not intended to solicit business from anyone under contract with a REALTOR ®
Updated Janaury 11th, 2022