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.
What kind of stool is most likely to keep you from toppling over when you sit on it? Of course, two-legged stools won’t even stand on their own. Three-legged stools are okay, but still unstable. Four-legged stools are rock solid.
What does that have to do with shopping for a new home?
Well, if you want to find the right home quickly and for the best price, you need to have four things in place – the four legs of the stool. They will help ensure the experience goes smoothly.
The first leg is your wish list. You need to have a clear picture of the type of home you want. A bungalow or two stories? How many bedrooms? A large deck? Don’t forget about the neighbourhood. Need to be close to major highways for ease of commuting? Need good schools and playgrounds within walking distance?
The second leg is a pre-approved mortgage. Getting the financing handled upfront takes the guesswork out of what you can afford. Sellers and their REALTORS® are more likely to take any offers you make more seriously too.
The third leg is realistic expectations. Of homes that sell, 99% sell at or near their current market values. That doesn’t mean you can’t find a good deal. It does mean you’re unlikely to find a “steal”. Fortunately, there are likely several wonderful properties available within your price range.
The final leg of the stool is a great REALTOR®. Choosing the right real estate professional is crucial to making your home shopping experience less stressful and more productive.
So when you’re hunting for a new home, make sure you start with a stable “four-legged stool”. It will dramatically increase your chances of finding a home that fits your needs and budget.
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
Looking for good REALTOR in Toronto, Mississauga or Oakville?
As Long Branch is waking up after a long Christmas sleep, new properties are coming up on the market. As of today, January 6, there are 21 properties available!
1. The very minimum you could own a place in Long Branch would be $168900 - 500 sf condo, maintenance fees only $315, which includes underground parking and water.
2. $229000 will get you a two bedroom / 1 bathroom condo at the excellent low rise condo, backing onto the small park and steps away from Mary Curtis Park, lake, newly upgraded beaches, kiddie zone and dog park
3.$289900 will let you move into a 3 bedroom, 2 washroom co-op apartment
4. The minimum to get your family into a freehold would be $575000 - 2 bedroom bungalow. I am thinking "price of land" here, as according to photographs attached to the listing, some major renovations would be required
5. Another 2 bedroom bungalow listed at 59900, much better condition though, just a little outdated
Trying to get the best value for your dollar is great. Maximizing return on your investment is always the way to go with Real Estate. But doing some reality check would not hurt either. Where is that edge that keeps a home buyer from becoming optimistically delusional?
I got a phone call on a weekend from a first time home buyer:
- I need to get a condo south of Lakeshore, do you have anything available?
- Yes, I do. There are a few condo appartments and some condo townhouses available for sale in Long Branch. What specifically are you looking for?
- I need something new, don't want to do renovations...I need a minimum of 2 bedrooms, 2 bathrooms, parking. No co-op apartments.
- Sure, there are a couple of options I could offer. What type of budget do you have for your purchase?
- Well, it has to be under 100k.
- Just to give you an idea - 2 bed/2 bath in Long Branch are starting from 325K. Well, except for co-op. You could get a nice renovated co-op appartment for just under 200K.
- No, no co-op for sure. Could we at least look for something under 100K? I did not get pre-approved for the mortgage yet but I have a good downpayment.
- Good downpayment will certainly help. May I ask what is it?
- Yes, I plan to put $2000 down. My other agent I am working with said it should be enough.
- Oh, you are already working with an agent?
- Yes, but I don't like him - it's been almost 3 weeks and he hasn't found me a home yet.....
At this point I had to politely wrap up our converstion as I was not sure whether to laught or cry... And I still haven't decided.... Would anyone know why the other agent haven't found a home for this client yet?
Compliments of Marina Gavrylyuk Real Estate Agent with Sutton Group Summit Realty
My new listing in Erindale, Mississauga - bright and spacious 4 bedroom, 2 bathroom condo, listed at $199 995. Great location - great value for your dollar. Walking distance from U of T (Mississauga campus), shopping, parks, schools. 5 minutes drive from my Mississauga office - you are welcome to pop by for a coffee and I will arrange for a private tour for you. Good option for investors or first time home buyers. Links to virtual tour and more details below.
There is a very nice tenant at the property - please, allow for 24 hours notice. Attention investors - tenant is willing to stay!
The Selby - 49 storeys, with red brick facade, to be completed in May 2019 - unique architectural vision in downtown Toronto. Amenities will include but are not limited to the fitness facility, rooftop pool, the party room. A wide selection of units are available. VIP sales event to be held November 1st. Buyers must be registered through Realtors with VIP access to attend.
Location: 592 Sherbourne Street
Number of units: 499
Occupancy: Spring 2019
Benefits for VIP buyers:
1. 2 year lease back program*
2. No maintenance fees for 1 year
3. Free property management
4. No assignment fees
*2 year leaseback program at $3.30 psf commencing on interim closing / occupancy
For more details, floor plans, unit availability and pricing, please, call, e-mail, pm or text
Marina Gavrylyuk Real Estate Agent with Sutton Group Summit Realty - delivering the Wealth of Real Estate to You!