Maximize Your Resale Value
Getting Top Dollar for Your Home
When it comes to the real estate market, your home’s value is relative to many different factors, such as location, comparable home values, age and condition of the home. Here are some of the best ideas for your consideration to help your home stand out in the market and command a higher value.
Depersonalize. The first thing you should do is detach yourself from the home and start thinking of it as an investment for sale. It is best to remove personal items such as photographs, trophies, knick-knacks and collectibles so that potential buyers can start imagining the house as their own.
De-clutter. Get rid of anything that makes a room look junkie or disorganized. Throw things out or store them off premises.
Do minor cosmetic work. Paint where necessary, change carpets, repair mouldings and walls. All new coverings should be in neutral colours. If you have hardwood floors, consider sanding and refinishing them.
Highlight kitchen and bathrooms. These are the most important rooms to a buyer and they need to be impeccable. Plumbing fixtures should work properly and look like new or be replaced. Showers, tubs and sinks need to be spotless. Vanities need to be uncluttered. Kitchen cabinets and drawers need to be orderly, with doors that open properly.
Check doors and windows. The first and last thing a buyer sees when coming in to your home is the front door. Make sure it is cleaned up or painted and that it opens and closes properly. Windows should be clean and working properly if someone wants to open or close them.
Turn your attention outdoors. Buyers want to see curb appeal. Remove ornaments from the yard and flower beds. Consider the landscaping. Outdoor living space is increasingly in demand and people are looking for decks, patios and outdoor kitchens that are conducive to entertaining and relaxation.
Don’t forget the garage and workshop. The garage needs to be de-cluttered and accessible so that a car can be parked in it. A workshop should be organized so a prospective buyer can appreciate what they can do with it.
Attend to pet odours. When you walk in to a house with dogs and cats you can immediately smell them – especially if you don’t have your own. Vinegar and water is good for cleaning pet areas, topped off with air fresheners if needed. Carpets should be vacuumed frequently with carpet fresh powders.
Certain renovations can add value. Traditionally, kitchen and bathroom renovations result in the best return. If your kitchen is very outdated or not functional, you can recoup up to 80% of the cost if you sell your home within 5 to 7 years. As more and more people focus on energy efficiency, replacing major mechanical systems, such as furnace, air conditioning, windows, water heaters and roofs will add instant value to a home.
Price competitively. Price is the most important factor in determining whether your home sells or not. You must compare your price to recently sold homes. Compare the features and amenities of your home with other homes that have sold to determine what you should sell your home for. In fact if your home is the best priced one on the market you may actually get full price or more!
