To sell your house for a top dollar, it’s best to first understand the art of selling. Know the current housing market, the cost of selling your house and a few tricks to sell the property for a profit.
While there could be a long list of such tricks, we have share ten of the best tips to sell your home for a profit.
10 Tricks to Selling Home for a Profit
Stage Your House
Most of the realtors agree that it gets easier for buyers to visualize living in a well-staged home than an abandoned house. The average cost to stage a 2,000-square-foot home in Mississauga would cost you around $2,000 to $2,400 a month.
According to Investopedia, home staging could give you a profit of up to 20% on your asking price. Not only this, but their listing period also shrinks from 143 days to only 40 days.
So you could expect a profit of up to $20,000 for a staged home originally valued at $1 million.
Research Your Ideal Homebuyer
Different types of houses attract different buyers. So when you’re selling condos, the ideal buyers could be young professionals, couples, or new immigrants. While on the other hand, when you’re selling bungalows, your ideal homebuyer is a retiree or a pensioner.
Though, this doesn’t stand true all the time. We now have big condos in Mississauga well enough for a single-family. You can get an idea by check online listings for condos for sale in Mississauga. The same goes for bungalows.
So if you want to sell your property for a good deal without spending too much time in the market, you may want to ask your realtor to market using special techniques. One way to do this is to market your property on Facebook using relevant age brackets.
Take the Buyer on a Virtual Tour
Tech-savvy companies started adding 3D virtual tours long before COVID-19. But now many have realized that it’s a good practice adding 3D home tours to sell homes fast and for a top dime.
Unlike images, 3D tours give you a complete walkthrough of the house. The best part, you will feel as if you are on the spot.
The only drawback of these 3D tours is – these services usually come at a cost – that makes many realtors stay behind. But those using these advanced services would tell you that similar to home staging services, these 3D services would shrink the listing period and would give you profits over the asking price.
Boost Your Curb Appeal
Curb appeal comes when you have a freehold property.
The first few moments are very crucial to attract buyers. This starts from your curb to the entrance. Put your energy in uplifting the outside till the entrance so no buyer could say ‘no’ to your property.
Upgrade Your Kitchen
Where your curb has a long last impact on a buyer’s mind, you can’t miss enhancing the beauty of other rooms, especially where people spend most of their time. The kitchen is one of those places.
Keep it clean. Try giving it bright colours. Install open storage spaces.
Install New Hardware
Check doorknobs, switchboards, faucets, etc. for any problem. If they’re in perfect condition, try going creative. Like, give switchboards a new colour by painting them or installing textured papers on them.
Remember buyers would hire a home inspection service, which means if the service provider finds issues, you might not get as good an amount as you’re previously estimating.
So spend a little amount on inspecting your house, repaired the broken things, and do some improvements to make it stand out from the rest of the houses.
Re-paint the Walls
Giving a fresh layer of paint would definitely help you sell the house fast and for a higher bid. But do remember; this isn’t the time to go creative, leave it to the buyer. I mean if you’re leaving that house, don’t leave your mark on it, just give your house an overall new look with bright colours.
One thing I like the most about painting the house is that you could do it even with no experience.
Add a Wood Deck
Unfortunately, we have had to witness COVID-19. This last year was one of the darkest years for all. Many lost their jobs or businesses. While some were forced to work from home. Kids also were bound to stay with the four walls. It was kind of torture. But those living up their dream life never stopped.
You may have heard how businesses like home staging, real estate, and home improvement recovered from the losses they incurred at the beginning of 2020. Decking companies also made good profits when they realized that people need open space within their homes to spend quality time with their friends and family. These decking companies transformed backyards into open kitchens, patios, and more.
Condo owners can’t make the best of such services, but freehold homes like bungalows and single-family homes could.
When you have a backyard, do think of spending a little on decking. Selling a home with such features tend to give your profits.
Know When to Sell
Now to the crucial part – knowing when to sell.
Generally speaking, spring is the best time to sell your property, especially when I talk of Mississauga. That’s the best time when buyers outnumber sellers, giving you the edge to ask for higher prices. If the first buyer doesn’t like your price, you would see more incoming buyers. One of them would definitely buy your house on your terms, at your price.
Price Your Home
So it’s your property, you may ask $1.5 million for a $1 million house. But chances are you won’t be able to close the deal at this value. You have to be realistic and up to date.
The best thing to start getting a price estimation is to check online resources, such as bungalows for sale in Mississauga. Here, you will find hundreds of the most recent listed bungalows.
The other thing you could do is reach out to a good realtor. Their years in the market will help you set a price close to the current market’s price.
After the second quarter of 2020, it has been a wonderful period for single-family homes. They have appreciated with high margins and remained hot in the market no matter what the time was. On the other hand, it was crucial for the condo market since most of the buyers were preferring large spaces.
Having said that, if you the basic tricks to selling a house for profit, you certainly would score a good deal selling your condo.