Beautify Your Home and attract a great buyer
A lot of newcomers arrive in Canada each year, spurring an increased demand on the housing market. The trend of independent living and moving from parents' nest is also having a similar effect and it is particularly the millennial population that is assuming an important role. This means that homeowners must be prepared to adhere to the needs and wants of the young people and revamp their old-fashioned homes. But, doing renovations is a wise move generally, as it increases the value of the home and chances of handing the keys to the new owner.
So, there is no reason to be hesitant about your decision to beautify your home, even if you will not be living there much longer. The housing in the country varies considerable between regions, towns and territories, but some things remain the same. One of them is the underlying logic of buying a home, which serves as a guiding light to sellers. Still, the decision-making marathon can turn into a nerve-wracking endeavor, so be prepared to invest a lot of time and energy in ensuring the best possible deal.
Make a great first impression
To deploy the best selling tactic, one must understand the psychology of first impressions. Give your front door a coat of fresh paint, and redecorate the hallway to ensure the warm welcome. What you need to realize is that buying a home is one of the biggest financial, but also emotional decisions a person makes during his lifetime. Practical reasons are mixed with whims and wants, creating a volatile mélange. A new home must not blow the budget, but it also supposed to fit present and future lifestyle needs.
The good news is that there are several factors that influence every decision-making process. The first and foremost is the house price, then the location, neighborhood and the family transition. That being said, people also want to make a statement with the purchase and own a home that reflects their values and aspirations. Know when to play the rationality card and when to add fuel to the emotional fire. If you persuade the buyer that he will be able to put a personal stamp on the space, he might be willing to overlook some downsides.
The future is now
Just try not to put too much pressure on someone, as the result may be buyer digging in his heels. Note as well that some other parties may be involved in the negotiations and completing the deal. Some buyers hire real estate agents to search for property or do the inspection. They also help them prepare an “Offer to purchase” which makes thing official. Later in the process, a lawyer or a notary steps in and ensures that the transfer of the title goes smooth. If you think you are not prepared for all the peaks and valleys of the negations, hire a real estate agent yourself and let him do the heavy lifting.
Home buyers also pay attention to the future costs of owning the home, and these include heating, property taxes, renovation, and repairs. Even if the upfront costs are not that high, these parameters may undermine your efforts. So, if there are some serious problems and defects with the house, either the buyer may change his mind or the price of property is affected. A lot of property hunters, especially the younger ones, prefer to have little or no work with the new home. On the other hand, there are those who seek investment property, and are more than prepared to roll up their sleeves in order to make a profit.
Adhering to trends
Regardless, be careful when choosing not to disclose some info about the space and when sweeping problems under the carpet. A professional inspector will leave no stone unturned, and will conduct a thorough examination, rest assured. He will not have a hard time finding rotten wood under the coat of fresh paint, so do all the minor repairs. What is more, even an amateur would do his best to check on crucial aspects like the electrical system, plumbing, and insulation. It is your job as a seller to see to it that these are working properly. Also, each person has a checklist of must-have home features. It can be anything from the square footage and storage space to number of toilets and the vicinity of a parking lot.
Therefore, to stage the home for selling, one must get a hold of numerous other factors beyond the essentials. Canadians seem to be embracing the open concept homes, ones that provide spacious floor plans and high ceilings. Alas, if the architectural features are different, it can be a costly investment to remodel the home. Furthermore, one third of move-up buyers crave for a functional outdoor space with seating sets, fireplaces, exterior lighting and other amenities. So, it would not be wise to put focus only on the interior. One of the rising trends is blurring the lines between the indoors and the outdoors. so it is not surprising that the natural décor is still the king.
Work it out
Just as the yard should be tidied up, the same is true for all rooms in your home, For example, kitchens are becoming hearts of many homes, and we are witnessing more walk-in kitchen pantries. Canadian buyers are also likely to keep a close eye on the cabinets, countertops and lighting in this room, as well as the overall design. There is also a great demand for green homes, where energy efficiency is at the appropriate level. It is measured by industry standard rates, or The Home Energy Rating System (HERS) score to be more precise. This means that energy saving appliances and fixtures are a must, as they can boost the efficiency by 30%.
Also, more and more people are opting for working at home, and want to have a designated space for this. If you have a home office, make it look ready for some serious business. Office workstations with appropriate furniture will make any work-from-home buyer think twice before turning down the offer. If that is not the option, remember that some people are looking for places like double car garages with organized work space. You may be starting to worry about the costs, but you should not. First of all you are making a worthy investment. Secondly, there are many inexpensive ways to renovate the home.
Most sellers start the revamp with a lick of new paint. This adds some life to the space and makes it look brighter and bigger. Next, clean everything until you see the sparkles. The property should feel airy and light, so make sure that the windows are clean, and that lamps and bulbs are working. Do not forget to get rid of excess stuff and clutter that only make your home look cramped and disorganized. Bulky furniture is not the most attractive thing, and people adore modern, minimalist pieces. Then again, that is not to say that the place should feel like a sterile hotel. Leave some personality and help a potential owner evasion himself actually living there and falling in love with the space.
The house of cards
The decision-making process involved in buying real estate is a complex labyrinth of snap decisions and series of twists and turns. It is up to you to decide what cards will you put on the table, and when will you pull an ace from up your sleeve. Some things should be highlighted, others downplayed. No home is perfect, but it can appear so in the eye of the buyer. Giving your place a makeover can be costly, but also an investment that pays off. Stay on top of emerging trends and changing preferences of the home buyers. The costs of inaction are greater than the investment you will make to beautify your home. After all, you do not want to risk your house lingering on the market, while the maintenance costs nibble your budget and offers are nowhere to be found.
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About the PublisherBo Kauffmann is a residential real estate agent with over 18 yrs experience in helping buyers and sellers achieve their goals. Inducted into the REMAX Hall of Fame in 2010 and receiving the REMAX Lifetime Achievement Award in 2019, Bo has sold over 500 houses and condos in the Greater Winnipeg market. He is an accredited buyer representative (A.B.R.) and a Luxury Home Marketing Specialist. Bo provides exceptional service to First-Time Home-Buyers, Seniors looking to downsize and Home Sellers of all ages. He can be reached easily By E-Mail or call/text him Call/Text Here
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