Hey there, time traveller!
This article was published 2/10/2017 (263 days ago), so information in it may no longer be current.
Need to sell a house that needs a little TLC? While the prospect of staging or flipping a home for a profit might sound exciting, we sometimes find ourselves without the necessary time, funds, or resources to do so.
For anyone trying to unload a bit of a lemon, these tips are worth considering; they may not bring you a fairy-tale ending but they can help you make the most of your sale.
• Don’t bank on a niche market — Even if the house you’re selling is less-than-amazing, it’s not in your best interest to simply leave it ‘as-is’ and assume your buyer will be an investor, a home-flipper or someone willing to take it in any state. There are plenty of buyers out there with modest expectations for their future homes but you might miss attracting their interest if the place looks downtrodden.
As with any property sale, it’s important to make the home appeal to as many potential buyers as possible, as this increases your odds of selling in a timeframe and price range you’re happy with.
• Show the house in its best light —Though it may have pink bathroom fixtures or cabinets from a bygone era, a house that’s clean and cared for will bring more buyers knocking and help them see its value.
Presenting the best version of your home starts as early as the listing photos — ensure that there are no dishes in the sink, no clutter on the countertops or coffee tables, no drooping curtain rods, and no laundry lying about.
Remove extra furniture that crowds smaller rooms and be sure that the front and back doors aren’t encumbered by things like bicycles, wood piles, or recycling bins.
Above all, make sure that the house is clean, especially in places we dread to look (like under sinks, in basement corners, and inside kitchen cupboards). Your buyers may have to use their imagination to see the home’s full potential but you may be asking too much if you expect them to see past a cluttered mess.
• Set realistic expectations — Unless you’re selling property in an area that’s in extremely high demand, buyers aren’t typically willing to pay outrageous amounts for potential alone; they’ll be factoring in the money they’ll have to invest in updates into the total they’re willing to spend.
Therefore, if the house is in need of some real work, your price will likely have to reflect its current state. That’s not to say you should sell yourself short, of course — just be mindful of your market value by getting a comparative market analysis from a real estate agent, and try to stay objective when you set your asking price.
Kim Ewchuk is a licensed sales representative and general manager, Central Canada, for ComFree Commonsense Network broker, member of the Winnipeg Real Estate Board.
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Real Estate Matters
Kim Ewchuk is the general manager and licensed sales representative for ComFree Commonsense Network broker. Suggest column ideas by email at firstname.lastname@example.org