Selling your home can take a lot of time and emotional energy. The reality is that even though it’s time for you to move, you likely still have some emotional attachment to your home. This is where you’ve built many memories and spent a significant amount of your time over the years.
When it is time to sell your home, however, you’ll need to prepare yourself to have strangers in your space. They’ll be investigating all the corners and crevices of your home, and they may offer you less than your asking price.
Here are some tips to avoid that scenario and have homebuyers offering you a quote over your asking price.
Keep Your Emotions in Check
You probably spent much time saving up for your home, and you’ve put a lot of effort into it. It’s also likely you’ve made some good memories in your home. Thus, saying goodbye is going to be difficult. To get a good price, however, you’ll need to keep your emotions in check.
Think of yourself as a salesperson, and stay focused on the financial transaction. Doing this can help you stay level-headed. Consider the emotions that the buyers may be going through. Spend some extra time staging your home or doing some extra repairs. It will be worth the return on investment.
Select the Right Time to Sell
Do some research and determine the right time to put your house on the market. There are times of the year that are best for buyers because there are a lot of properties to consider. Other times, it is a seller’s market because there are more buyers than supply.
You’ll also want to be sure that the timing is right for you. Selling your home will come with some financial costs, including the price of moving. Be sure that you and your family have enough equity in the home to make it worth your while.
Know the Market
It’s crucial to understand what your local real estate market looks like. This will involve some research on your part. Find out what similar homes in your area are selling for and what features attract buyers.
You may also want to contact a mortgage broker in Ontario like Northwood Mortgage™ and ask them what they believe the market is doing. Develop an understanding of what homebuyers are looking for and determine how you can deliver it to them.
Determine Your Price
Once you have done your research, set a realistic price for your home. Factor in any special features that set your home apart for buyers. Some sellers decide to set the price a little high and expect to negotiate. Others, however, will set the asking price a little lower to draw in more buyers.
This can create a bidding war, which ultimately drives up the sale price of your home. You’ll have to decide if either of these strategies works for you.
If you are interested in learning more about getting a residential mortgage in Toronto or anywhere in Canada, then call Northwood Mortgage at 888-492-3690 or contact us here.