Four ways to increase your chances of selling your home

BY CLEVE DeSOUZA

From the street to the master bedroom suite, follow these tips and increase your chances of selling your home at its maximum value.

Across Toronto, prices are rising, and homes are selling in less than a month, according to Zolo, an online listing of Canadian real estate. In this fast-moving market, it makes sense to position your home to stand out from the crowd.

Simple indoor and outdoor upgrades help buyers fall in love with your home at first sight.

Curbside appeal
Begin with curbside appeal. Place potted plants near patios and entrances. Spread a fresh layer of mulch to accent the vibrant colours of your existing plants. For even more colour, buy a flat of annuals and add seasonal flowers to your garden.

Trim any unruly shrubs or trees. Look at your perennial gardens with a critical eye. If something is dead or dying, remove it. If you have a pond or fountain, clean it now. Nothing makes your home look more neglected than dead plants, overgrown bushes, and algae-filled water features.

Rent a power washer and clean paved surfaces, exterior brick, and siding. These surfaces dull so slowly we often don’t notice how much they age our homes.

Create an atmosphere
When potential buyers step through the doors, help them discover what makes your home special.

Repair leaking faucets, fix sticky cabinets, and replace old screen doors. Buyers who encounter minor problems assume that more costly issues exist.

Clean everything off the kitchen counters to make the kitchen appear luxuriously large. The same principle applies in other areas of your home. Re-arrange your furniture to make rooms look larger and pack away decorative items and personal photos.

Stage each room to showcase its best use. If you have been using a small bedroom for storage, clean it out, add a desk, and create a cozy home office.

Finally, clean everything right before a showing. Scrub the floors, shine the windows, and use air-neutralizing sprays to remove odours. Clean homes sell. Don’t forget to turn up the heat or air conditioner to ensure buyers will feel comfortable.

Renovations
If you’re considering renovating to raise your home’s value, proceed with caution. Renovations to your kitchen or bathroom as well as interior and exterior painting can pay off, according to the Appraisal Institute of Canada.  Before you hire a contractor, though, make sure you aren’t over-spending. Experts say you should never invest more than 15% of your home’s value in a kitchen and no more than 5% in a bathroom.

Remember, too, you aren’t designing the new space for yourself. Choose neutral colours with mass appeal.

Find a great real estate agent
Finally, consider hiring a real estate agent. According to the Financial Consumer Agency of Canada, which seeks to raise consumers’ awareness of their rights and responsibilities, real estate agents can help make sure you get the best value for your home.

The right agent guides you through the process, helping boost your value and completing all the necessary paperwork. Everyone has heard horror stories about unscrupulous real estate agents, but it’s not too hard to avoid that experience. When talking to potential agents, remember these tips:

• If the commission is too low, beware. Expect to pay a commission of between 2% and 6% for the agent’s services. Under-performing agents lower their commissions to gain clients.
• Watch out for someone promising too much. If your home is priced too high for the market, customers may not consider it. Learn the prices of other homes in your area in order to estimate the value of your property.
• Snoop on agents through online platforms. You should be able to see their listings and sales. On average, a good agent maintains 3 to 5 active listings and sells about 50 homes a year.

Taking a little extra time to prep your home for the market should pay off with a higher price. You need to become educated and empowered to make strategic moves to grow wealth.