Toronto is a great place for homeowner’s in today’s busy and bustling market, with home’s selling in short time and at much higher values than anticipated. Still, when preparing for their sale, many homeowners overlook the basics when attempting to strengthen their home’s value. Rather than receiving top dollar for your home, these easy fixes and simple renovations can be neglected, causing the home to sit on the market for longer than it should and ultimately, losing out on it’s highest possible price.
So what are these basics? Roll up your sleeves, and take a look:
Personal Articles & Clutter: When buyers enter your home, they’re attempting to picture themselves living there. Upon seeing family photos, and a pile of bills or papers on the counter, they’ll struggle to do so. This basic issue is an easy fix, and also helpful to the homeowner as it forces you to sort and file your clutter. Dispose of what is unnecessary, and store what you have to keep. *The more minimal the furnishings, the larger the home will seem.
Dirt & Odour: Most home buyers are looking for a home in “move-in condition”, meaning with little work or elbow grease associated. When strong odours or dirt and neglect are present in a showing, it causes the buyer to second guess other aspects of the home. Fixing such issues could be as easy as fixing a broken door handle and having the bathroom tiles cleaned, or could extend into replacing carpet and appliances. The most cost efficient way to ensure your home is showing ready? Put the family to work and scrub, mop, vacuum, and wipe down every noticeable surface. This not only ensures cleanliness and fresh smell; it also forces you to notice small issues of neglect you don’t see in your daily life.
Over Pricing: When discussing with your realtor and deciding on a price point for your home, ensure that both you (and your agent!) are being realistic. Even in hot markets like Toronto, an over priced home is far more likely to sit on the market. Remember, each home buyer is likely searching within a budgeted price range. By excluding your home from the qualified buyer’s viewpoint, your neglecting the ability to sell your home for it’s real value. Over pricing can be easily corrected, first by ensuring your agent has done a comprehension analysis of comparables properties to help determine your price, and secondly by attending other open houses in your price range for contrast and comparison.
Have you sold/are in the process of selling your home, and now can use an advance on your equity before closing day, perhaps you need money for renovations? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.