Fall is fast approaching us, Labour Day has passed, you’re back from vacation and the kids are headed back to school. Now is the perfect time to tidy up your home and prepare it to beat the rush to market this autumn.
The end of summer transition into fall marks an increase of buyers and sellers who want to get in and get out of the market in time for the Christmas holidays. People do not want to be spending their holiday time dealing with the process of buying or selling a home. If you miss the boat, you might find yourself waiting until the market picks back up in the spring. In order to get ahead of the crowd, now is the best time to start preparing your home for listing. Here are a few home preparation tips that can help set you apart:
Value Added (Or Subtracted) for Future Buyers
Think of your renovation projects in terms of what will appeal most to potential buyers, even if you're not considering selling anytime soon. Converting a garage into a living space or eliminating a bedroom or a closet may cause future buyers to cross your home off the list; these spaces are among the most important to potential homeowners.
Be cautious when undertaking large-scale renovation projects. While smaller DIY touch-ups and proper home staging can yield big dividends for sellers, large projects may not always pay off.
Remodeling magazine's 2016 Cost vs. Value Report showed that replacement projects, like changing a front or garage door, offer serious gains.
Which large projects pack the most punch when it comes to adding value? Two-story additions, master suite upgrades and major kitchen remodels top the list.
Your Neighbourhood's Market Conditions
Consider the re-sale market in your neighbourhood before deciding on a renovation project. This is particularly important if you're considering large scale projects, like a full kitchen renovation or converting an attic space into an extra bedroom.
Every neighbourhood has a price threshold of what buyers are willing to pay, so $75,000 kitchen remodel may not be worth it in a neighbourhood where home values top out at $500,000.
Getting ahead of the competition doesn’t have to be a large scale project either. Things you can do to differentiate your home can include: tidying up miscellaneous items, fixing that leaky faucet, painting the family room etc. Completing tasks along these lines in advance will be sure to put your home ahead of others when selling.
For more information on home selling or buying tips give us a call today!
905-271-5151 or email us at info@PetersonTeam.ca