5 Things to Know Before Putting Your Home Up for Sale in a High Demand Market

January 14, 2022

Saturday, January 15, 2022

Although Toronto real estate market has been in a frenzy, that does not mean sellers do not need to put in any effort to get their homes sold fast and for the best price. In this article we discuss some of the important things sellers must know before putting their homes up for sale in this hot market. The conventional ways of selling homes have become a lot less ineffective and unappealing in today’s market. So here are things you should be aware of before selling your property.

Number 1: Not having a valid reason for selling or no outcome in mind

As a seller you must know the reason why you are making the sell. Is it to downsize, upsize, make a move somewhere else or what? You should have an end goal in mind while also having an open mind as sometimes being too much strict on your decision can make you lose a good opportunity or even thousands of dollars.

Number 2: Not having a pre-inspection

Before you put your home up for sale, it is imperative that you have a pre-inspection of your home to find out major defects in the home that can discourage buyers from making an offer. If you get a pre- inspection done, you will be well aware of things such as major repairs or costly renovations you need to undertake.

Number 3: Preparing your home for sale

Apart from carrying out repairs and renovations, you also need to prepare your home for the buyer. A property that has been staged immaculately will fetch more price than one that has not been. This is because staged homes help prospective buyers have a vision of what the home will feel like. When preparing your home, important things to remember are: decluttering and depersonalizing your home.

Number 4: Not setting the right price

Perhaps the most important thing to consider when selling your home is setting the right price. Although the market is hot right now, you don’t want to overprice it so buyers will not come or underprice it either. Make sure you or your realtor does the market research to get an idea about what homes in your area are selling for and have a realistic expectation.

Number 5: Have a transitional plan

You must have a contingency plan, such as selling or buying first or vice versa, or whether you are looking to rent for a while – these all depends on your personal situation but before putting your house up for sale, you should have all these factors considered to avoid unnecessary hassle.

If you are looking to sell your house and do not know where to start, contact Arul at 416-518-9782 or email luckyarulhomes@gmail.com and we will guide to help you get the best price in the fastest time. We are a professional real estate team based in Toronto and have over 12 years’ experience serving the GTA real estate community.