Whether you’re looking to buy or sell a home in Canada, you’ve probably noticed that winters aren’t particularly a great time for real estate deals. For instance, market experts note that 25% fewer homes sales were conducted in the January 2017 as compared to May 2017. The practical reason is that moving house in winter isn’t an easy job. However, you may need to sell your house and move without waiting for the weather to change in your favour. To help you out, we list 5 tips to sell your home in any season.
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- Use the Seller’s Edge of Fewer Homes on the Market
- Target Buyers that are Seriously Considering a Move
- Take Advantage of Off-Season Facilities
- Invest in Home Improvement Projects
- Present Your Home in the Best Light Possible
1. Use the seller’s edge of fewer homes on the market
Given that most homeowners prefer to wait until spring to move house, January typically sees fewer homes on the market. For this reason, houses are more expensive in this month. For instance, as the Toronto Real Estate Board reports, homes in the Greater Toronto Area (GTA) sold for an average of $40,273 in January which is far higher than the prices they went for before the holiday season. Experts also expect that real estate prices should show an uptrend in the year 2018 in contrast to the downtrend of 13% to 24% as was seen in the last 5 years.
To sell your home, you could take advantage of the higher estate prices and sell when there are fewer homes available in the market.
2. Target buyers who are seriously considering a move
At any given time, there are always serious buyers in the real estate market who are looking to move irrespective of the price trends or seasons. These are the potential buyers you’ll want to target to sell your home. Like, for instance, people moving because of a job change or migrating. Then there are buyers that like to scout around the market and apply for pre-approvals so they can be ready to move come spring. Like mortgage expert at CanWise Financial, Mike Brickell advises, getting pre-approval for a mortgage during the off-season may get you more beneficial terms and conditions.
Upcoming industry trends and government regulations can also influence buyers’ decisions. For instance, the new B-20 mortgage rules have lowered affordability for various buyers and they may choose to look for viable options during the off-season.
3. Take Advantage of Off-Season Facilities
During busy seasons, most real estate professionals are typically stretched thin keeping up with a deluge of buyers and sellers. However, during the off-season, these agents and other experts such as lawyers, stagers, appraisal agents, and mortgage brokers are likely to have more time to devote to your sale. This factor could help you get better deals.
4. Invest in Home Improvement Projects
Given that any home improvement projects you undertake can raise the value of your home, now would be a great time to get started. That’s because most professional contractors that assist you with floor improvements, painting, decluttering, repair jobs, and other add-ons may offer you off-season discounts during the winter when fewer projects are available.
5. Present Your Home in the Best Light Possible
As any agent will tell you, when prospective homebuyers come by to visit your home, they like to imagine themselves living in it. For this reason, you can do the best you can to make the home warm and inviting. Go the extra mile by shoveling and salting your driveway, and set out mats and pegs where visitors can hang up their bulky overcoats. Keep your home cozy and welcoming by furnishing it with warm fabrics like shaggy rugs, flannels, and furry blankets. If you can light a fire, that would be an added plus.