If you have paid any attention to the housing market in North America lately, then you surely noticed that prices have risen sharply over the past few years. This is because of the housing boom that popular cities in Canada and America are experiencing now. Even with the black swan event, Covid 19, many people are choosing to relocate. Current homeowners see that their properties have gone up in value significantly, so they sell. This causes a chain reaction because those sellers become buyers wherever they intend to move to.
These days, the competition to sell homes is fierce. If you want to get those top-dollar prices you read about, then there are a few steps you can take, which can increase the chances that your listing will bring in the most money that it possibly can, and maybe even more.
Pre-Listing Checklist!
In 2022, the housing market will continue to be faced paced, with most properly priced listings bringing in more money. Something most folks don’t consider is checking to ensure that your mortgage is up-to-date and free from issues. Making sure that there aren’t any title issues is smart to do as well. If you’re not sure how to accomplish all of this, then contacting a licensed mortgage broker company could go a long way.
In addition to pricing the property right, there are things to do like ensure that the house is clean, paint is needed, staged, if possible, free from damage, and looking great!
Let’s take a closer look at important factors that can dictate price and profits.
Fixing Damage
If you plan to sell the home that you have lived in for years, and years, then it probably needs to be updated so your listing will stand out.
Take a closer look at the roof since this can add $25k if replacement is needed. You might want to hire a roofer to inspect the roof and provide you with a detailed report and estimates for fixing small damage and replacing the entire roof if needed. This way you will have these documents available for potential buyers when it comes time to negotiate the deal.
Make sure the curb appeal is up-to-par… This includes the concrete driveway and fixing any cracks that have occurred throughout the years, due to the home setting, which is a natural occurrence.
Pressure Washing & Painting
Making a big impact makes you feel like you are making tons of progress in getting your house ready to list. Pressure washing all the years’ worth of dirt and grime that naturally happens over the years. Keep in mind that this could be dangerous, especially if you plan to pressure wash the roof, which is highly recommended if you’re not replacing it completely.
If you are doing it yourself, make sure you wash the exterior walls from top to bottom, all the way around the property. This process not only cleans the home thoroughly but also, prepares the exterior for fresh paint.
Choosing the best paint color is paramount, and you might want to try some test spots before you go all-in on paint colors.
Many homes within communities that are governed by a Homeowners Association (HOA), might be restricted on the type and color of paint used. If this is the case, just get which colors are acceptable and use them. Complying with the HOA is more important than paint colors because they will have the final say on your real estate deal closing, or not.
However, those who live outside of HOA control will have more flexibility in paint colors and design choices. These homeowners should check the MLS and see what color homes for sale are sold at the highest prices. You will find that neutral colors like white, beige, light brown, and other trending colors will work the best. They will appeal to a broader sector of buyers this way, and your chances of getting a quick sale are higher.
Upgrades
If your house needs upgrades to compete with other houses listed for sale on the open market. The best way to determine this is by checking the Multiple Listing Service (MLS), where Realtor’s list properties for sale and see what the competition looks like. If all the houses have tile or marble floors, then you might need to update your flooring or ask for less money.
Other important things to investigate would be the kitchen, which includes cabinets, countertops, sinks, appliances, and anything else you can see.
Make sure that your listing will look as good, or better than what is currently listed in your area, to get the highest price possible.
Curb Appeal
As mentioned earlier, curb appeal is everything! Curb appeal means anything you see when you drive by or pull into the front driveway.
Have you ever heard that first impressions are the most important impressions you can make? It is true in real estate as well. You want your listing to POP on the MLS so that buyers will come to the property for an in-person showing.
Once they arrive, you want the front of your house to entice them to want more. You really want people to be able to envision themselves living at the property, and most buyers want ready to move into homes, that look beautiful and inviting.
Conclusion to This ALL!
So many people are selling properties in North America these days, but it most popular cities, the supply cannot keep up with the demand. Any house listed for sale will get some offers in 2022, but the top dollar real estate deals are reserved for those with outstanding homes, that have been cared for, or properly rehabbed and ready to sell.
If you plan on selling real estate this year, you can see that taking a few extra steps before listing on the MLS, can greatly improve the odds of receiving multiple offers at once, and the highest possible price for you.
