Advantages of Buying a House that Needs Work

There’s no doubt about it. Buying a home that is “move in ready” is a real convenience. All you need to do is get your belongings in place, and you’re ready to enjoy living in your new home. You don’t even need to paint. That’s why move-in-ready homes tend to attract more buyers.

However, there are advantages to buying a property that needs work. And, if you’re currently shopping for a new home, a listing that requires some repairs, upgrades, or renovations might be worth considering.

Why?

Properties that need work tend to be priced lower than comparable movein-ready listings. Depending on market demand, the price savings can range from modest (just a few thousand dollars) to substantial.

Also, homes that need work tend to attract fewer buyers and offers, so there’s less competition.

Another advantage is the opportunity to get into a desirable area you otherwise might not have afforded. It might be worth the extra work you’d need to put into the home to live in your dream neighbourhood. But, while there are advantages, there are also important caveats.

The first caveat is you must know the scope of work that is required before making any decision to purchase. How will you get the work done? How much will you need to budget for the improvements? Are you prepared for the realities of living in a property during renovations?

The second caveat is you must anticipate any issues that can’t be seen during a typical viewing.

The last thing you want is to pay for a major repair you weren’t expecting. That’s why getting a professional home inspection as a condition of your offer is often a good idea.

There’s a lot to think about when you’re buying a “needs work” property. But, I can help you make an informed decision.

Want to learn more? Call today.

250-681-4004

Selling Quickly without Compromising on Price.

There are many reasons homeowners may need to sell their property — fast. Work relocations, changes in family makeup, and financial needs are among the most common. If you find yourself in a position where you need to sell quickly, you don’t necessarily have to go to market with a temptingly low price.

Here are some other ways to accelerate the sale of your home:

1. Make your property as move-in ready as possible. Get any needed repairs done. Ensure everything is tidy.

2. Hire the help you need. Getting a professional to do some or all of the prep work, will save you time. And, the cost may be offset by a boost to your home’s sale-value.

3. Use the latest staging techniques to make your home look great to buyers. Staging is proven to help sell a property faster.

4. Remove as many impediments to a quick sale as possible. Consider offers with conditions. Be flexible when it comes to a buyer’s need for a particular closing date.

5. Accommodate as many viewing appointments as possible in the early days of the listing. They may be inconvenient, but the more buyers see your property, the more likely you are to get a quick offer.

6. Make sure your home is marketed in a way that attracts qualified buyers, quickly. These are just some of the many ways to list and sell your property, faster, while still getting a good price.

There are other techniques that can be employed, depending on your listing and market conditions.

Want to learn more? Call me today!

250-681-4004

Fix it? Or leave it “as is”?

When preparing your property for sale, you want to make it as attractive as possible to buyers. After all, the more buyers like what they see, the higher the probability you’ll get good offers.

That’s why it’s advisable to clean, declutter, decorate, fix, and improve as much as possible.

But, how far should you go with fixing and improving? For example, should you tear down the old deck and build a new one? Or, should you leave it as is?

Should you paint the main floor? Or is it okay to leave the faded finish and few wall dents just as they are?

Those can be difficult questions to answer because many factors come into play.

• What is the traditional return on investment for that home improvement? (In other words, how much will you get back when you sell?)
• To what degree will the fix or improvement help sell your home faster and/or for a higher price?
• If you don’t make the fix or improvement, will those deficiencies be likely to dissuade buyers who would otherwise be interested in buying your property?
• What are the current market conditions? Are there other listings in the area competing with yours?
• How much will the fix or improvement cost? Is it affordable, given the benefits of having a listing that’s more attractive and move-in ready?

Once you have answers to those questions, you’ll have a clearer idea of whether to fix it or leave it as is. I can help you get those answers.

Call me today!

250-681-4004

Know the Local Market when You Sell

Are you thinking of selling your home this year?

If so, you might be paying extra attention to housing market news covered by the regional and national media. While that news can be helpful information, it can sometimes say little about what’s happening in your particular neighbourhood.

In fact, it’s possible for there to be a balanced market nationally or regionally, while at the same time your street may be experiencing a hot seller’s market! That’s why it’s important to understand what’s happening in your local “micro” housing market when you’re selling your home. What do you need to know about your local real estate scene?

Here are a few questions to ask yourself:

• Is our neighbourhood a seller’s, buyer’s, or balanced market right now?
• If we list our home this month, will there be any competing listings in our area? If so, how many?
• How long is the average listing in our area taking to sell? A week? A month?
• How much are properties like ours in the neighbourhood selling for?
• How desirable is our neighbourhood? How many buyers are actively looking to move here? Are there currently buyers eager to purchase a home like ours
• What are the demographics of buyers looking to buy in our neighbourhood?
• How important is it to fix up and stage my home if I decide to sell? Getting these local insights will be far more helpful than the national news when you put your property on the market.

So, find out what’s happening right here, in your neighbourhood. How do you do that? Call me today.

Showing your Home on Short Notice

Unless you’re selling in a strong sellers’ market, you should take advantage of every opportunity to show your home. Say, for example, an interested buyer would like to see your property tomorrow evening. If you say no, they might see another listing in the meantime — and make an offer! So, being prepared to show your home at the drop of a hat is important. That doesn’t mean you should agree to be inconvenienced constantly. However, if you can put up with some disruptions in your plans now and then, you’ll increase your chances of selling your property.

Consider these tips:

• Avoid restricting showings to a particular weekday, such as Monday evening and Saturday afternoon. What if an interested buyer isn’t available those days?

• Try to keep your home clean and tidy. That way, you can accommodate a short-notice request to see your listing more easily. (Consider temporarily hiring a cleaner.)

• Make a list of places you can take your family (including pets) on short notice. For example, a park or movie.

Want more tips for selling your home quickly and for top dollar? Call today.

Are you thinking about selling your home this spring?

If so, one factor that may be holding you back is time. You might be worried that you won’t find the time in your busy schedule to sell your property successfully. If so, here are four strategies that will help:

1. Understand what needs to be done. Do you know what you’ll need to do to sell your home? Do you understand the steps involved? Do you have a clear idea of how long it will take to complete various tasks, like getting repairs done and doing some “staging”? The more accurately you can anticipate your tasks and how long it will take to complete them, the better you’ll be able to plan and schedule.

2. Keep a “moving” calendar. It’s a known time management fact that using a calendar and blocking out time for tasks will ultimately save you time. So, use your calendar, or create a new one just for moving-related items. With an up-to-date calendar in place, you’ll always have a view of what needs to be done and how those tasks fit into your weekly schedule. Maintaining a moving calendar also reduces stress.

3. Ask for advice. How should you stage your main floor? Should you make any home improvements? How should you prepare for a buyer coming to view your property? You don’t need to guess or Google. Get professional advice. Doing so will expose you to the most current best practices and will save you time.

4. Hire help. You don’t need to do everything on your own. Instead, consider hiring professionals to do at least some of the work for you. For example, hire a painter, a lawn mowing service or a dog walker. Hiring professionals during the selling period can save you countless hours. And, those costs may be offset by the sale of your home.

There are many ways buyers can find out about your home for sale. Some will see the lawn sign. Others will notice the listing on MLS. Still others might find out via an advertisement or social media post. But, there is one other way buyers will discover your listing — and it can be pivotal to the success of your sale. The agent can make sure they know. In some cases, buyers shopping for a particular type of home, or those who are targeting a specific neighbourhood, will get on an agent’s alert system. The agent will arrange for the buyers to be alerted as soon as an ideal property comes up on the market. That’s why being strategic when creating an MLS profile and other listing materials is so important. You want interested buyers to be notified of your listing! Agents often also have a network of buyers they are in touch with regularly or who are actively looking to buy a home. They reach out to these contacts as soon as a desired property is listed. Say, for example, you put your property on the market. The agent you work with may already have qualified buyers in mind. If so, that increases the chances of your home selling quickly and for a top price. Good agents also have a robust network of professional contacts — such as real estate lawyers, contractors, and even other agents — that they can potentially tap to find qualified buyers. Overall, well-connected agents are more likely to be able to leverage their networks to attract ideal buyers to your listing.

Want to discuss how I can attract high-interest, qualified buyers to your listing? Call me.

Advantages of Buying a House that Needs Work

There’s no doubt about it. Buying a home that is “move in ready” is a real convenience. All you need to do is get your belongings in place, and you’re ready to enjoy living in your new home. You don’t even need to paint. That’s why move-in-ready homes tend to attract more buyers.

However, there are advantages to buying a property that needs work. And, if you’re currently shopping for a new home, a listing that requires some repairs, upgrades, or renovations might be worth considering.

Why?

Properties that need work tend to be priced lower than comparable movein-ready listings. Depending on market demand, the price savings can range from modest (just a few thousand dollars) to substantial.

Also, homes that need work tend to attract fewer buyers and offers, so there’s less competition.

Another advantage is the opportunity to get into a desirable area you otherwise might not have afforded. It might be worth the extra work you’d need to put into the home to live in your dream neighbourhood. But, while there are advantages, there are also important caveats.

The first caveat is you must know the scope of work that is required before making any decision to purchase. How will you get the work done? How much will you need to budget for the improvements? Are you prepared for the realities of living in a property during renovations?

The second caveat is you must anticipate any issues that can’t be seen during a typical viewing.

The last thing you want is to pay for a major repair you weren’t expecting. That’s why getting a professional home inspection as a condition of your offer is often a good idea.

There’s a lot to think about when you’re buying a “needs work” property. But, I can help you make an informed decision.

Want to learn more? Call today.

250-681-4004

Selling Quickly without Compromising on Price.

There are many reasons homeowners may need to sell their property — fast. Work relocations, changes in family makeup, and financial needs are among the most common. If you find yourself in a position where you need to sell quickly, you don’t necessarily have to go to market with a temptingly low price.

Here are some other ways to accelerate the sale of your home:

1. Make your property as move-in ready as possible. Get any needed repairs done. Ensure everything is tidy.

2. Hire the help you need. Getting a professional to do some or all of the prep work, will save you time. And, the cost may be offset by a boost to your home’s sale-value.

3. Use the latest staging techniques to make your home look great to buyers. Staging is proven to help sell a property faster.

4. Remove as many impediments to a quick sale as possible. Consider offers with conditions. Be flexible when it comes to a buyer’s need for a particular closing date.

5. Accommodate as many viewing appointments as possible in the early days of the listing. They may be inconvenient, but the more buyers see your property, the more likely you are to get a quick offer.

6. Make sure your home is marketed in a way that attracts qualified buyers, quickly. These are just some of the many ways to list and sell your property, faster, while still getting a good price.

There are other techniques that can be employed, depending on your listing and market conditions.

Want to learn more? Call me today!

250-681-4004

Fix it? Or leave it “as is”?

When preparing your property for sale, you want to make it as attractive as possible to buyers. After all, the more buyers like what they see, the higher the probability you’ll get good offers.

That’s why it’s advisable to clean, declutter, decorate, fix, and improve as much as possible.

But, how far should you go with fixing and improving? For example, should you tear down the old deck and build a new one? Or, should you leave it as is?

Should you paint the main floor? Or is it okay to leave the faded finish and few wall dents just as they are?

Those can be difficult questions to answer because many factors come into play.

• What is the traditional return on investment for that home improvement? (In other words, how much will you get back when you sell?)
• To what degree will the fix or improvement help sell your home faster and/or for a higher price?
• If you don’t make the fix or improvement, will those deficiencies be likely to dissuade buyers who would otherwise be interested in buying your property?
• What are the current market conditions? Are there other listings in the area competing with yours?
• How much will the fix or improvement cost? Is it affordable, given the benefits of having a listing that’s more attractive and move-in ready?

Once you have answers to those questions, you’ll have a clearer idea of whether to fix it or leave it as is. I can help you get those answers.

Call me today!

250-681-4004

Know the Local Market when You Sell

Are you thinking of selling your home this year?

If so, you might be paying extra attention to housing market news covered by the regional and national media. While that news can be helpful information, it can sometimes say little about what’s happening in your particular neighbourhood.

In fact, it’s possible for there to be a balanced market nationally or regionally, while at the same time your street may be experiencing a hot seller’s market! That’s why it’s important to understand what’s happening in your local “micro” housing market when you’re selling your home. What do you need to know about your local real estate scene?

Here are a few questions to ask yourself:

• Is our neighbourhood a seller’s, buyer’s, or balanced market right now?
• If we list our home this month, will there be any competing listings in our area? If so, how many?
• How long is the average listing in our area taking to sell? A week? A month?
• How much are properties like ours in the neighbourhood selling for?
• How desirable is our neighbourhood? How many buyers are actively looking to move here? Are there currently buyers eager to purchase a home like ours
• What are the demographics of buyers looking to buy in our neighbourhood?
• How important is it to fix up and stage my home if I decide to sell? Getting these local insights will be far more helpful than the national news when you put your property on the market.

So, find out what’s happening right here, in your neighbourhood. How do you do that? Call me today.

Showing your Home on Short Notice

Unless you’re selling in a strong sellers’ market, you should take advantage of every opportunity to show your home. Say, for example, an interested buyer would like to see your property tomorrow evening. If you say no, they might see another listing in the meantime — and make an offer! So, being prepared to show your home at the drop of a hat is important. That doesn’t mean you should agree to be inconvenienced constantly. However, if you can put up with some disruptions in your plans now and then, you’ll increase your chances of selling your property.

Consider these tips:

• Avoid restricting showings to a particular weekday, such as Monday evening and Saturday afternoon. What if an interested buyer isn’t available those days?

• Try to keep your home clean and tidy. That way, you can accommodate a short-notice request to see your listing more easily. (Consider temporarily hiring a cleaner.)

• Make a list of places you can take your family (including pets) on short notice. For example, a park or movie.

Want more tips for selling your home quickly and for top dollar? Call today.

Are you thinking about selling your home this spring?

If so, one factor that may be holding you back is time. You might be worried that you won’t find the time in your busy schedule to sell your property successfully. If so, here are four strategies that will help:

1. Understand what needs to be done. Do you know what you’ll need to do to sell your home? Do you understand the steps involved? Do you have a clear idea of how long it will take to complete various tasks, like getting repairs done and doing some “staging”? The more accurately you can anticipate your tasks and how long it will take to complete them, the better you’ll be able to plan and schedule.

2. Keep a “moving” calendar. It’s a known time management fact that using a calendar and blocking out time for tasks will ultimately save you time. So, use your calendar, or create a new one just for moving-related items. With an up-to-date calendar in place, you’ll always have a view of what needs to be done and how those tasks fit into your weekly schedule. Maintaining a moving calendar also reduces stress.

3. Ask for advice. How should you stage your main floor? Should you make any home improvements? How should you prepare for a buyer coming to view your property? You don’t need to guess or Google. Get professional advice. Doing so will expose you to the most current best practices and will save you time.

4. Hire help. You don’t need to do everything on your own. Instead, consider hiring professionals to do at least some of the work for you. For example, hire a painter, a lawn mowing service or a dog walker. Hiring professionals during the selling period can save you countless hours. And, those costs may be offset by the sale of your home.

There are many ways buyers can find out about your home for sale. Some will see the lawn sign. Others will notice the listing on MLS. Still others might find out via an advertisement or social media post. But, there is one other way buyers will discover your listing — and it can be pivotal to the success of your sale. The agent can make sure they know. In some cases, buyers shopping for a particular type of home, or those who are targeting a specific neighbourhood, will get on an agent’s alert system. The agent will arrange for the buyers to be alerted as soon as an ideal property comes up on the market. That’s why being strategic when creating an MLS profile and other listing materials is so important. You want interested buyers to be notified of your listing! Agents often also have a network of buyers they are in touch with regularly or who are actively looking to buy a home. They reach out to these contacts as soon as a desired property is listed. Say, for example, you put your property on the market. The agent you work with may already have qualified buyers in mind. If so, that increases the chances of your home selling quickly and for a top price. Good agents also have a robust network of professional contacts — such as real estate lawyers, contractors, and even other agents — that they can potentially tap to find qualified buyers. Overall, well-connected agents are more likely to be able to leverage their networks to attract ideal buyers to your listing.

Want to discuss how I can attract high-interest, qualified buyers to your listing? Call me.