Selling Your Home: Extra Effort Makes Cents
If you’re like most people selling their home, you want it sold fast and for top dollar.
While reality can prove otherwise, there are simple tips to help boost your home’s appeal and ultimate return-on-investment.
Undergo Modern Updates
First impressions count. Grab buyer’s interest the minute they pull up to your home with these quick and effective tips:
1. Trim the lawn
2. Add flower beds and shrubs
3. Pressure-wash walkway and driveway (if applicable).
4. Touch-up trims with a fresh coat of paint.
5. Install a clean, modern front door.
The kitchen is the central gathering place of the home. Adding modern amenities such as granite countertops, stainless steel appliances, and new cabinets will leave a lasting impression on potential buyers. With 40% of homes in Vancouver East to West equipped with two kitchens, installing a basement suite will also attract buyers looking for financial support and security. Another great saving tip is to add a window and closet to an existing office or rec room to instantly add another bedroom.
To help off-set costs, BC homeowners can receive home building and renovation rebates from numerous government programs.
Hire a Realtor
An overpriced home will discourage buyers from looking, let alone negotiating. To come up with a reasonable asking price, many people attend open houses or search Craigslist. However, Fraser Valley realtor Trish Lunder says this can be a waste of time. “People don’t understand how to set up a price. They think because the home two-doors down is $700,000 then there’s is comparable. But it’s what has sold in the area that determines the price”. A licensed realtor undergoes a CMA (Comparative Market Analysis) to find prices of comparable recently-sold homes, on-the-market homes, and homes that were on the market but never sold in the last six months before presenting an asking price to clients. Along with having the resources to advertise your property to thousands of buyers, a realtor also ensures peace-of-mind by screening all potential buyers through their agency before inviting them into your home. Of course, all of this comes at a price. Although it may tighten the purse strings, an over-priced home on the market for six months can bring even heavier financial stresses.
Industry experts can forecast market fluctuations all they want; the real estate market can still turn at the drop of a dime.
While hiring a licensed realtor and undergoing renovations may harbor additional costs, remember ; no risk, no gain.