Real Estate Blog

When you’re shopping for a new home, you’ll likely have a list of "must-haves" that are essential to your ideal living space. However, there are circumstances in which it may be worth compromising on your list of non-negotiables.

Location

While having four bedrooms or a large backyard may be high on your priority list, a desirable location with easy access to schools, work, and amenities could outweigh those specific features. Keep an open mind and consider adjusting your must-haves if it means securing a home in an ideal neighbourhood.

Budget

Sometimes, your dream home may exceed your price range. In such cases, it can be beneficial to explore properties that may lack a few desired features but offer the potential for customization or renovation in the future. This way, you can gradually transform the house into your dream home while staying within your financial means.

Feeling

What if you walk into a home and it just feels right, even though it’s lacking a feature on your must-have list? It might be worth going with that feeling. Keep in mind that what a property is lacking today may be remedied over time with improvements and renovations.

Outdoor living spaces have become the new heartbeat of homes — even in the winter. They now serve as an extension of the indoors, a place where homeowners can dine, entertain, and relax. So, it’s smart to emphasize the outdoor living potential of your home when you list.

Your garden is the first outdoor element potential buyers see. Well-maintained, colourful plants can make a fantastic first impression, so keep the garden lush and appealing. Include a variety of perennial and annual plants that bloom at different times in the season. Consider planting in containers or raised beds for easy maintenance, and use garden ornaments sparingly to keep the focus on the natural beauty of the space.

Next, your patio or deck can act as an outdoor living room. Consider staging it to make it look that way. Highlight any attractive, weather-resistant furniture you have. String lights or solar lanterns add a touch of warmth and make the space usable even after the sun sets.

And don’t forget about your barbecue or outdoor kitchen. A well-equipped, clean, and functional outdoor cooking area can be a big draw. Ensure grills, burners, and other cooking appliances are in good condition.

Finally, remember that not all outdoor spaces need to be elaborate. Sometimes, simple lawn chairs or a modest patio set can add to the appeal. The key is to make the outdoor space inviting, no matter how small it is.

One last tip: If you plan to list during winter, ensure you have pictures of your outdoor space during good weather, ideally in summer. Those will be a helpful addition to the listing materials.

Imagine you see a home advertised for sale in a desirable neighbourhood. However, you find out the property is listed well above comparable sales in the area. In other words, above its market value.

Is that listing still worth seeing?

There are many reasons why sellers might list their property for a price that seems way above the market. The home might have highly desirable features that make it worth a premium, such as a spacious backyard or a finished basement. Or, the seller might assume (often mistakenly) that listing high will result in higher-priced offers.

In either case, the home is likely worth a closer look, especially if it otherwise checks most or all of the boxes on your wish list.

If there are additional features that have driven up the price, you may find it’s worth that premium — particularly if those features are important to you.

What if the high price is artificial? Then, chances are, the home will ultimately sell at close to its actual market value anyway – regardless of the list price. So, if you make an offer that reflects the real value, you might win.

The bottom line? These listings are usually worth the time to investigate further. So, schedule that viewing appointment!

Many seemingly small things can be a big turn-off to prospective buyers. So, it’s wise to identify and fix these issues when you list. Here are a few examples.

1. OutdatedorNeglectedExterior:Chippingpaint,atired-looking façade, or uninspired landscaping will impact a buyer's all-important first impression. The solution? Fresh paint, power washing, landscape trimming, or even adding new plants.

2. OldorDamagedAppliances:Outdatedorbrokenapplianceswillget noticed by prospective buyers. The solution? Repair and thoroughly clean them. It might also make sense to invest in new appliances. If you go that route, buy energy-efficient models that look great and they will become a selling point.

3. UnpleasantOdours:Webecomesoacclimatedtosmellsinourhome that we often no longer notice them. But buyers will! Odours from pets, smoking, perfumes, and exotic cooking are especially detracting to buyers. The solution? Reduce odours by avoiding scent-producing activities (such as cooking) prior to viewing appointments.

4. OverlyPersonalizedInterior:Buyerswanttoenvisionthemselves living in the home, not you. The solution: Eliminate as many personal items as possible. Make the style and décor attractive but neutral.

5. OldorPoorlyMaintainedHVACEquipment:Buyersoftenaskforthe age of furnaces, water heaters, and air conditioning units. They’re concerned about potential maintenance issues. The solution? Get older equipment inspected by a professional. Then have that documentation available to buyers.

As you can see, investing in a few repairs and upgrades can make a big difference in how quickly your home sells – and for how much.

Imagine you’ve listed your home and get a fantastic offer. The price is VERY good. The buyers have attached a hefty deposit and a pre-approved mortgage certificate. The only drawback? There is a condition. The buyers want to sell their home before the offer to buy yours becomes firm.

Hmm. Should you accept that offer? Let’s take a look at the pros and cons.

PROS

• A Bird in the Hand. While a conditional offer comes with a string

  attached, it still means a buyer is keenly interested in your property.

• Room for Negotiation. You might be able to negotiate a compromise. For example, accept the condition but with a more favourable (to you) closing date.

• Slower Market. What are the chances another buyer will offer you the same price? In a slower market, it might be worth accepting the conditional offer — particularly if the risk of the deal falling through is low.

CONS

• Potential delays. There’s always at least some risk that the condition

  won’t be met, which means the sale won’t go through.

• Missed opportunities: While waiting for a condition to be met, other potential buyers may move on.

  Deciding how to handle a conditional offer can be tricky. I can help you make the right decisions when you sell. Call me today!