Selling a home is fairly easy
Somethings, like replacing a broken wheel on your dishwasher’s top drawer seem easy until you actually begin and find out that there are so many steps and those steps have to be done in a precise order or you’re lost. Luckily, there are youtube videos for that.
Selling a home seems fairly easy too. And let’s face it, it is not rocket science. But it is a little harder than it might appear before you begin. Most things are a little harder and more time consuming than you think, especially the first time.
With that in mind, if you are getting ready to sell, here are somethings that seem obvious but tend to surprise home sellers
Updates and upgrades
It is rare that the homebuyer does not have to do something before they move in. Be it painting, replacing a carpet with an engineered hardwood or remodelling the kitchen…there is always something. Smart home sellers will anticipate what is in most need of updating or upgrading and do that on the buyer’s behalf. This will often lead to a faster sale at a higher price.
Everyone thinks there’s is the best. We tend to overvalue our own homes and undervalue the homes of others. This is only natural. What’s better is to go and visit the comparable homes in the neighbourhood and decide logically not emotionally how to price yours in relation to theirs.
The square footage does not matter nearly as much as the functionality of the home. Trying to determine price by looking at square footage, appraisal value or municipal tax rate is a fools errand.
A buyer is a buyer is not a buyer
Everyone lives somewhere. Home sellers like to keep their potential buyer pool as large as possible, nothing wrong with that. But marketing should be targeted to your most likely buyer. Here’s a tip: The most likely buyer is often very similar to the seller. Here’s another tip. Lifestyle sells condo apartments. Schools and neighbourhoods sell homes.
When to start preparing for sale
Most people planning to sell begin the process too late. Meeting with agents, establishing a list price, determining what to do to prepare their home for sale and then getting the work done takes a lot longer than you think. You always want to begin the process three months in advance so you have lots of time to get everything done. If you’re not preparing early, you’re already late.
Make it easy to buy
$400 spent on a pre-listing home inspection is money well spent. $100 for the condo status certificate is also money well spent. Having invoices of work done and copies of utility bills at the ready will help keep a hot buyer hot.
You are open for business long before the open house
Open houses don’t sell houses. They haven’t since the internet took over almost 20 years ago. Qualified buyers are working with agents and have been in the market longer than your listing has been live. It is a process and you are entering a game already in progress