Are you considering selling your real estate?
In Canada, there’s been a steady increase in the new housing price indexes from June to December 2020. With it being a seller’s market, there’s never been a better time to work with Toronto Realtors.
For sellers considering a relocation, check out this comprehensive guide for five tips when selling real estate.
1. Give Your Home a Competitive Price
If you’re considering selling real estate, remember to give your home a competitive price on the market. Be sure to consider the prices of the other residences around you.
Do online research and gather a basic understanding of home sales in your area from the last three to six months.
Consider square footage, renovations, and location in your pricing. Think about your location regarding community assets, such as:
- Places of worship
- Commercial areas
Contact a local Realtor to discuss your property and the services that they provide!
Be sure to have a contingency plan before putting your residence on the market. It’s important to always have a plan in place. Pricing is not stationary; it’s an ongoing discussion and should adapt to the always-changing market conditions.
Don’t forget to prepare for additional closing costs! There may be a repair or addition you didn’t anticipate. Consider moving costs, staging fees, cleaning fees, realtor costs, and mortgage prepayment penalties.
Consider getting a home inspection prior to listing your home as an information guide to prevent any unwanted surprises.
2. Choose the Right Time of Year
Choosing the right time of year to put your home on the market can have a significant impact on the sale.
Historically, the spring market is the busiest for real estate and an ideal time for sellers to list their properties.
During this time, the holidays are over, which means people are less busy, and the weather encourages buyers to get out more. Remember to revamp the interior and exterior of your home, including:
- Touching up paint
- Deep cleaning
Consider consulting a professional real estate team in the Toronto area to help you find areas of your home that may need extra attention before it hits the market.
3. Don’t Forget Basic Home Repairs
When buyers look for properties they want it to be a stress- and anxiety-free process. To create this environment, it’s important that you, as the seller, focus on basic home repairs.
Before the home inspector comes through your house, do your own thorough check. Consider basic repairs, like:
- Kitchen appliances
- Sinks and faucets
- Walls and ceilings
- Heating, ventilation, and air conditioning system (HVAC)
- Smoke and carbon monoxide detectors
- Circuit breakers
Remember to address any leaks. Make sure all doors and cabinets open seamlessly. Focus on loose hinges, cracked surfaces, or broken handles.
A fresh coat of paint does wonders to increase the price of your home. Don’t neglect the floors. Replace chipped tiles and refinish damaged hardwood. If the carpet is worn, consider a deep-clean or even replacing it.
4. Stage Your Home to Sell
After making any necessary repairs and upgrades, it’s time to stage your home to sell. On the exterior of your home, power-wash your siding, driveway, and walkways to give it a brand new appearance.
Plant fresh flowers and greenery. Make sure your address numbers are legible and easy to find. Remember to wash the outside windows as well as the garage windows.
Choose a doormat that welcomes prospective buyers into your home. Inside, make sure your home is as clean as possible. Before a prospective homebuyer looks at your house, you should:
- Scrub the floors
- Wash the windows
- Wipe down counters and appliances
Expect the buyer to open doors and cabinets. Organize your clothes and pantry to give it a finished, organized look. Avoid clutter at all costs. Consider renting an offsite storage space while you’re staging your home.
Think about rearranging your furniture to give your home the appearance of being open concept. Also, consider adding artwork that may be a conversation piece.
5. Hire a Realtor and List Your Home
Finally, list your home with a Realtor that you feel confident will bring in the best return on your investment. Choose a Realtor that you feel comfortable with and that provides the right services for you and your property.
Be communicative and have an open dialogue with your Realtor. If you like more than one, consider interviewing each candidate.
At the end of the day, it’s your decision, and you want to be comfortable with your choice.
Selling Real Estate
What are you waiting for? Your real estate awaits!
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