Whether you’re upgrading, downsizing or turning a profit on your starter home, making the decision to sell is not to be taken lightly. Though there is certainly always a demand for housing in urban areas, the real estate market in many smaller Canadian cities has its highs and lows. Here’s what you should be aware of when you’re looking to sell.
Rushing in. Many Canadian homeowners make the mistake of listing their house the minute the market heats up. While the average home sells within a month, yours might not be snagged up as quickly as you hoped. Experts suggest reconsidering your options if you have still not found any interested buyers after 90 days.
Pricing too high. This is typically an issue caused by inexperienced agents, rather than greedy homeowners, but if you’re tempted to jack up your home to the maximum price possible, it’s unlikely that it will sell unless it’s in a hot market. If your price doesn’t reflect the pricing of the neighbourhood, buyers will look elsewhere.
Skipping the home inspection. Not every buyer is created equal, and it’s true that some will prefer to do their own inspection. However, a good rule of thumb is to assume that your buyers are going to ask if the home has recently undergone an inspection. Get one done before listing your home and have the documentation to prove that there are no major issues.
Foregoing renovations. Buyers have an idea in mind when they set out looking for their dream home, and while some will appreciate the challenge of owning a fixer-upper, most will be pleasantly surprised to walk into a newly remodelled home during an open house. Even minor renovations such as a fresh paint job in the kitchen can spruce up a drab interior.
Hiding from social media. Old habits die hard, but it’s advantageous to move with the times. Plenty of homeowners and agents alike are turning to social media to showcase beautiful homes. Even if you list your home on a traditional platform like an MLS, shots of your home on Instagram can extend your reach. To really up the wow factor, hire a professional real estate photographer to capture your home in its best light.