A few things to cover before you list this spring!
09 Apr 2019
The snow is melting away, and it seems everyone’s thoughts are turning to spring. It’s the time of year when homeowners pore over seed catalogues and garden centre flyers, schedule gutter cleaning and window-washing, and make ambitious plans to Marie Kondo overstuffed closets.
It’s also the time when For Sale signs bloom on the block. For those who hope to sell their homes in spring, it’s time to make your to-do lists to cover off the essentials before you call your realtor.
The very first thing to do? Get your financial house in order so you know what you can afford to spend on your next home.
The Montreal real estate market is not the same as it was a few years ago. Mortgage lending rules have become more strict, interest rates have gone up, and home prices in certain neighbourhoods have seen steep price increases in recent years, changing the math for buyers. It’s prudent to review your budget, tally your debts, and get pre-approved for a mortgage so you know what the equation looks like for you.
You’ll also want to make sure you know the details of any current mortgage contracts. If you’re not at the end of your mortgage term, you’ll want to check whether you can port your mortgage, and if not, how much the penalties will cost you when you sell.
Once you’ve done the math, there’s still a few more things to do before you call your realtor.
If you hope to sell quickly and for the most money possible, it pays to prepare. Before you have your home evaluated, you need to do all you can to show it at its best.
First things first: deep-clean and declutter. The less you keep the less you’ll have to move. Plus, the less stuff you have in your home, the better it shows. It’s hard for a realtor, let alone a buyer, to really see a house if every surface and storage space is stuffed with curios, mementos, old papers and other bric-a-brac.
After you have done everything in your power to Kondo your condo and hoover your house, there’s one more step before asking a realtor to assess the value of your home: home staging.
Staging is like Photoshop for your home, smoothing over little quirks and imperfections and subtly highlighting its best features. A home stager’s expert eyes will spot things we ordinary folk are blind to, and often their recommendations can save money by avoiding unnecessary renovations.
If you hire a home stager, pick one whose focus is on return on investment, not just decorating. There’s a long list of things you can do to pretty up your home, but not every renovation will boost your home’s value in the buyer’s eyes when you sell. Still, it’s amazing what a difference simple things can make. Fresh paint, flowers, rearranging furniture, and strategically upgrading a few finishes or fixtures can utterly transform a space.
Many good realtors can also offer practical advice on recommended repairs, renovations and home staging techniques — and some will even spring for a free consultation with a stager to give you professional advice.
When you have done all you can to gussy up your home, ask a realtor to provide a professional evaluation based on recent comparable sales. Brokers know a home that shows well, sells well, and the price they’ll recommend will reflect that.
