Why can two similar styles and aged homes sell at different prices?
You’ve likely seen it in your neighbourhood. Some homes just sell for more money than the identical home next door sells for. Even in this seller’s market and even with the reduced inventory and multiple offers it happens all the time. Why does this happen, and how can you sell your home quicker and for more money?
Many factors can affect how much and how quickly a home sells. Here are a few tips for you to consider that can help you sell your home faster and possibly for a better price.
High-quality photos
Today, the majority of home buyers begin their search online. Prospective buyers can browse and search through scores of websites that feature vast amounts of information on homes for sale around the country.
One of the first things a buyer looks for in an online home listing is lots of photos of the home. Good, high-quality photos are critical in ensuring that your home is visually portrayed in the best way to appeal to buyers and entice them to visit it in person.
Studies have shown that having professional photos can help a home sell faster and significantly increase the selling price. Peter and Sharon Bare Realty will work with you to take professional photos of your home.
curb appeal
As the saying goes, “You only get one chance to make a good first impression.” This goes double for selling your home.
When a buyer rolls up to your house, its appearance can make or break a buyer’s decision to even step inside. If a home’s exterior looks appealing, it can help give them the impression that the rest of the house is not only in good condition but is worth seeing.
Studies have shown that curb appeal is the number one factor affecting how long a house is on the market. We can advise you on areas of your home’s exterior to improve to help increase its curb appeal.
move-in condition
A move-in ready home will sell faster and often bring a higher selling price. This is because buyers are stretching financially to their absolute limits to win what usually is a bidding war for a home. They will pay their max for a home that doesn’t need a lot of small repairs or minor updates; they can’t afford to do.
Homes in need of minor repairs also make buyers question if the rest of the house has been neglected in ways that may not be as easy to spot. A relatively small investment in time and money on your part can reap great benefits.
Inspect your home and look for things like chipping paint, leaky faucets, and stained carpet. A fresh coat of neutral-coloured paint can improve a room’s appearance. Peter and Sharon will help you determine which repairs or updates might give you the best bang for your buck to increase buyer appeal!
Need more ideas? Take a look at our blog post on Top 7 affordable ways to increase the value of your home
proper pricing
Most people believe they should price their home high from the start, then lower it the longer it stays on the market. That used to work; now we’re in a whole new ball game with different rules. Pricing your home right is the new strategy; the last thing you need is to overprice your home and miss that impatient wave of buyers that won’t come back.
Buyers will see the high price, and knowing they will likely have to pay over that inflated asking price, they might move on or wait and see. A high initial price may also make them think you either aren’t serious about selling or that you’ll take a hard line when negotiating. Once you miss that offer date, you might as well correct the listing price right away because chances are you’re not getting multiple offers next time.
Additionally, a buyer who sees that a home price has started high and been lowered over time may give them the impression that you are becoming desperate to sell.
In reality, a home priced just around or even slightly below market value is significantly more likely to sell for more and quicker than a home priced high above market value. A realtor can suggest a decent starting price to help sell your home quickly and for a reasonable price.
Have Questions?
The home selling process can be confusing and stressful, but we’re here to help!
effective staging
Many sellers overlook the value of staging. Staging your home involves decluttering it and arranging the furniture and decorations to make it more visually appealing and give the feel of more space.
Staging also depersonalizes your home, which allows a broader range of buyers to envision what it would be like for them to live there. An experienced realtor can work with you to stage your home in a way that optimizes its interior visual appeal.
Ask us how we have helped dozens of families with their staging!
the right agent
While following the above tips can help you sell your home faster and potentially for a higher price, selling your home can still be a challenging process. The right buyers still need to see your listing before they can be interested in your home.
An experienced real estate agent can not only help you with the above tips and more, but they will also have the knowledge and skills to assess your local real estate market, compare prices of similar homes, and advise you on a competitive selling price. Peter and Sharon Bare have you covered when it comes to the Carleton Place, Stittsville, and Ottawa West real estate markets.
Start the process of selling your home by contacting us today for a consultation.
You are all set!
These are some easy fixes you can do yourself to get your home ready for photos and viewings. It’s always worth your time to make minor repairs that drastically improve the overall value of your home.
Plus, this list will help catch any issues a buyer or inspector might notice – and nothing ruins a deal like electrical or safety issues. Even though, by law, you’re not required to meet today’s code for older homes, taking the initiative to make your home safer makes for good conversation with the inspector.
Looking for More Resources?
For more advanced tips, check out our last blog post on how to prepare for a home inspection.
