An effective technique to help you sell your property quickly and for the best price is to put yourself in the shoes of a potential buyer. Don’t just visualize this. Actually do it!
Drive to your property and imagine that you’re seeing it for the first time. What’s your impression? Is the landscaping attractive? Are the walkways clear? Is the front door welcoming?
Now walk up to the front door, open it, and step inside. Does the foyer seem neat and uncluttered? Is there anything unsightly from that vantage point?
Take a walk through your home, starting in rooms that a potential buyer would predictably view first: the kitchen, living room and bedrooms. Do you notice anything you could change or improve, that would make those areas more appealing?
Next, check out the washrooms, closets and basement. Are they clean and tidy?
Finally, think about the price you want for the home. As a buyer, would you be enticed to make an offer at that level? Are there any nagging doubts about the property that would hold you back?
Understanding the impression your home will make on potential buyers will help you sell it faster. Looking for a good REALTOR®?
When you put your home on the market, it’s important that you make the indoor living space as attractive as possible to potential buyers. The foyer should look spacious and inviting. The bedrooms, neat and uncluttered. The basement, clean and well lit.
All good advice.
But don’t forget the outdoor living space. That too has a significant impact on how quickly your home sells and for how much. You want to make the area around your property, from the front walkway to the backyard deck, as attractive as possible.
How do you do that? Here are some tips for sprucing up your outdoor living space that can be easily implemented.
- Trim the hedges. Like a haircut, it gives your landscaping a clean, styled look.
- Place flower pots in strategic locations, such as next to the front steps and on the deck or patio.
- Fix anything that’s loose or squeaking, such as fence gates, shutters and deck railings.
- Remove anything unsightly, like garbage bags and piles of garden cuttings.
- Sweep all walkways, especially the one leading to your front door.
- Wash the outsides of your windows. (No need for ladders, buckets and scrub brushes. Most home improvement stores now sell window washing kits that hook up to your garden hose.)
- Check to make sure everything works: water taps, electrical outlets, exterior lights, etc.
You can probably get most of this work done in a single weekend. It’s worth it. Making your outdoor living space look great will dramatically increase your home’s appeal to potential buyers.
There’s a long list of ingredients needed to sell your home quickly. Obviously, you want to make your home as clean and uncluttered as possible. You should also make sure any outstanding repairs are done. And, of course, all the little things you can do to make your home “show” well are important, too.
But the number one ingredient needed to sell your home quickly is the right price tag. If you set the price of your home just right, buyers will come to see it, and there’s a good chance you’ll get some good offers. If you price your home too high, however, few buyers will take an interest in your property and it might languish on the market for months. Worse, it might not sell at all.
So how do you determine the right price at which to list your home?
One of the best ways is to do an analysis of what similar properties in your area have sold for recently. What people are actually paying for homes like yours — in communities like yours — is the best indicator of the true market value of your home.
Remember the last time you were in a furniture store or other major home retailer? Remember the fully decorated displays of furniture, appliances and other products? Some of those may have even been organized as model rooms.
What did most of those displays have in common?
Chances are, they were well lit.
In fact, in the retail industry, there are professionals who specialize exclusively in display lighting. It plays such an important role in showcasing and selling home products successfully that the stores are willing to absorb the expense.
And the same holds true for your house.
If you want to show your house well, and sell it quickly and for the best price, make sure every room is well lit.
There are probably some rooms in your house where the lighting is adequate, such as the kitchen and bathrooms, and perhaps the foyer. But there are other areas where the lighting may be mediocre. Take a close look at:
- Storage areas
- Laundry rooms
- The garage
If there are areas in your house that are dark or shadowy, the solution may be as simple as installing higher wattage bulbs, provided your fixture can accommodate them. Keep in mind that brightness can vary significantly from one type of bulb to another. For example, a 40-watt energy efficient bulb may not give off as much light as a comparable standard bulb. So do some experimenting. Your goal is to make the room feel bright yet comfortable on the eyes.
Also, don’t forget to open drapes and blinds. Often the best and most pleasant source of light for a room is the sun shining through a window.
It’s great when you have lots of time to prepare for something important. But life doesn’t always happen that way. Sometimes you have to move quickly, and do the best you can with the time you have.
Say, for example, you had to get your house ready for sale, and you only had a week to do so. What could you do in those few days to make your home as attractive as possible to potential buyers? Here are some ideas:
- Clean the house from top to bottom. Make it look “guest ready”.
- Get rid of as much clutter as possible. If necessary, put some things in storage. Try to make every room look organized and spacious.
- Get all minor repairs done.
- Paint. It’s the fastest and cheapest way to dramatically improve the look of any room.
- Don’t forget the outdoors. Prune the hedges, sweep the walkways, and deal with any potential eyesores — such as a rusted old bike stowed in the side yard.
- Place some fresh flowers in the dining room and outside next to the front door.
- Depersonalize your house as much as possible. For example, stow away family pictures. You want buyers to imagine themselves living there, not you.
This is just a partial list of ideas. A good REALTOR® can help you with more tips on preparing your house so that it sells quickly and for the right price.
If you're considering selling your house, you might be tempted to sink some money into home improvements. After all, gleaming new hardwood floors or a stunning wrap-around deck will make your property sell a lot faster, and for more money. And you'll more than recover your investment with the higher selling price. Right?
Maybe not. While those types of upgrades will certainly make your house more attractive to potential buyers - and may nudge the selling price up a little – you may not recoup all of your costs.
That's why major home improvements should be done for your own personal enjoyment, not as a tactic for preparing your property for sale.
So what types of upgrades do make sense? The good news is that the home improvement projects that are most likely to help sell your house are also the cheapest to implement. If you're planning on selling your house, consider doing the following:
- Make repairs
- Remove stains
- Trim hedges
- Plant flowers
- Improve lighting
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If you were going to sell your car, what would you do? Well, you would probably check to find out how similar vehicles to yours are priced. Then you would set your advertised price within that range.
What you would be doing, perhaps without knowing it, is determining the “market value” of your car.
Market value is simply what buyers today are willing to pay for a particular product.
When you decide to put your house up for sale, one of the first things you and your REALTOR® will do is determine the market value of your property. That’s important to know because if you price your home too much above its market value, you probably won’t get any offers. Alternatively, if you price your property too low, it might get snapped up quickly but you’ll have left a lot of money on the table.
How does a REALTOR® help you determine your home’s current market value?
He or she will look at a variety of factors, such as the desirability of the neighbourhood, the features of your home, how well it has been maintained, renovations and other improvements you’ve made, and of course, its location.
Your REALTOR® will also review what similar homes in your area have sold for recently – which is, perhaps, the strongest indicator of current market value.
Once you know the market value of your home, you can make an informed decision as to how to price it so that it will attract the right type of buyers and the best possible price.
Should you price your home high above its market value in the hopes that some unwary buyer will purchase it? Unfortunately, that rarely works.
The good news is, your property may be worth more than you think. One of the best ways to find out is to invite a good REALTOR® to your home to do an assessment.
There’s a famous saying in the real estate business: “Location, location, location”. It simply means that where your home is located — the neighbourhood — is just as important to potential buyers as the features of the property itself.
Sellers often make the mistake of creating a long list of home features while ignoring neighbourhood features. They tout the spacious kitchen, the newly renovated bathrooms and the gorgeous backyard deck, but say little about the area.
So when you’re ready to sell your home, sit down and create two lists: home features and neighbourhood features. Buyers want to know both.
On that neighbourhood features list, include:
Location of schools and daycare centres.
Major retailers and shopping centres.
Proximity to major commuting routes.
Theatres, night clubs and other entertainment.
Rinks, gyms and other sporting facilities.
Green space, walking trails, ponds.
When buyers have their eyes on two properties which are comparable in features, the neighbourhood is often the deciding factor.