Selling your house? There’s been a lot of changes in the Toronto housing market recently. Rising mortgage rates may be playing a part in turning the once hot seller’s market into a buyer’s market. This means the demand for houses has decreased and there are more sellers now than there are buyers.
What does this mean for you? Well, the basics for how to sell your home haven’t changed, just the prospects have. Even in a buyer’s market, you can still sell your home fast…you just need the right tools.
Read our tips below to help you prepare your house and your mindset before entering the buyer’s market.
Learning about the local market and recent sales in your neighbourhood can help you determine the proper value of your home. Consider the value of the homes in the neighbourhood to keep in the competitive market. If a home has been on the market for a long time, it may be the price, not the condition that is unattractive to buyers. Use this knowledge and speak with you real estate agent so that you can price your home competitively.
When selling a house, you are selling a future. Invest time and money into painting the interior a neutral colour, replacing dated appliances, and repairing leaks in the home. Another way to make the home presentable is to de-clutter and remove personal belongings before the showing. Potential buyers want to be able to envision themselves living in the space, so create a blank canvas that can be personalized to each buyer.
Renovation experts suggest focusing on the kitchen and bathroom if updating before a sale. Spending money now to replace the countertop, add new appliances, or install a modern shower can add to the value of the house. It’s the little details that matter sometimes. Update the fixtures and faucets throughout the house. Replacing the cabinet hardware, updating the lighting fixtures, and replacing the worn faucets can give the house an inviting and new look.
In a buyer’s market, investing in the sale of your home requires creativity. Hire a professional photographer to capture the highlights. Natural lighting, textures, and lines can enhance the look of the home. For an added bonus, you could also hire a professional stager to showcase your home in the best possible way. Stagers know how to enhance the best features of your home and make them a focal point.
When looking for a real estate lawyer for your transaction, consider Zinati Kay – Real Estate Lawyers. Our team of housing experts have been helping people across the GTA in closing home sales for more than 25 years. As one of the leading real estate lawyers in Toronto, we provide guidance through every step of the home sale process. Contact us today!
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