If your New Year’s resolution is to finally sell your house in the year to come, there is a lot of work ahead of you. Each year brings more changes, and the most important thing is to start preparations on time. Set the date you want to stage, preferably late winter or early spring, to beat the competition, and start planning now.
- Explore the Market
Before even considering to sell, you have to do a deep research on the real-estate market, prices, competition, trends, for the year to come.
For example, look at the latest statistics published by the Canadian Real Estate Association (CREA):
- National home sales rose 4.5% from November to December.
- Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y).
- The number of newly listed homes climbed 3.3% from November to December.
- The MLS® Home Price Index (HPI) in December was up 9.1% y-o-y.
- The national average sale price advanced by 5.7% y-o-y.
Learn more in CREA`s Canadian Home sales surge in December and consider all the facts before making a plan for the year ahead.
Don`t forget to research trends and news that will affect your potential buyers, such as New Mortgage Rules in January 2018: Everything You Should Know . Learn why it`s going to get a lot harder for some home buyers to get a mortgage this year and take it into consideration while forming a price.
- Have a pre-listing inspection done at your home
Invest in this now, because, new potential owners will demand this either way. If you already did all the necessary reparations they will have nothing to inspect and the sale deal can be closed sooner. This will cost you anywhere from $300 for a basic inspection, or up to 600$ if you have some extra facilities. The important thing here is to find out what needs to be fixed and to do it on time. This way you will know what are the costs you have to count on when planning your pre-sale house preparation budget. Finally, knowing all the costs at the very start will help you formulate your final price on your home for the upcoming year.
- Choose an up to date agent and let them help
Maybe the most important part of your home selling adventure is choosing an agent. This person is not here just to show the house and answer phone calls and emails. They can help you from the very start. Bring them home before you even stage your place and let them provide you with knowledgeable advice. They are the experienced one, they know what buyers like or dislike and they will be up to date with all of the latest trends.
- Follow up on the interior design trends for 2018.
If you have time and a little extra money, you can always check on the latest trends yourself. Millennials are the buying generation now, since they are in the age of establishing families and earning their first serious income. This generation is all about the modern look and fancy design. Take some time to research what this generation likes and try to make some compromises when dealing with the old look of your dear home.
- Show the new and improved look with quality photos and videos
Make virtual tours, high quality images, or videos. Hire a professional, or buy modern equipment. This is the last investment you`ll have to make, but a very important one. Do you want to make a sale in 2018? If potential buyers don’t like what they see on the screen, they probably won’t get up from their cozy chairs and check it out in person.