The housing market is still hot in some of the key markets, such as Toronto, Vancouver, and Montreal. But what about the rest of the country? The data show that sales and prices are still surging in these places, but sales and prices are stagnant in most places you could not find on a map of Canada.
In this market, even a dilapidated home in the middle of Toronto can yield $900,000. This can make any homeowner ask themselves: Why bother doing anything at all if you can make such a big profit from selling a house? Well, for one thing, there is a huge difference between $400,000 and $485,000, especially when you factor in closing costs, taxes, and all the other unexpected fees that come with selling a home.
Whether you want to sell real estate in a big city like Toronto or a small humble town in another part of Canada, you can take measures now to attract the buyers and make a profit from selling your home. Here are the eight best ways to make a big profit from selling a house:
1. Raise the curb appeal of your house.
They say that you should never judge a book by its cover. Whoever remarked that has never been in real estate. In fact, the external appearance – from the front door to the edge of the property – matters a great deal to agents and buyers. It is estimated that an improved curb appeal can help you make a significant profit from selling a house.
So, how can you raise your curb appeal? Here are a few tricks to consider:
- Take care of your lawn during all four seasons.
- Renovate or replace your front door with something that is secure and pops.
- Add some lighting installations throughout the front yard.
- Upgrade your housing numbers.
- Clear the path; put the car in the garage, clear garbage, or put toys inside.
As you can tell, it is the little things that can make a big difference.
2. Perform house maintenance before you sell.
Sure, the interior décor may be impressive, that new state-of-the-art dishwasher might be jaw-dropping, and the mancave in the basement could encourage more dollars to spend. However, if the foundation is in trouble, the pipes are eroding, and the insulation is in terrible shape, then what good is everything else?
There is no argument that repairing the foundation or replacing the insulation can be as expensive as all the renovating endeavours. If you can show off at just how well maintained your home is (back to the digital home history tip!), you can make the apprehensive buyer more confident in the house. Proper maintenance can help you secure a profit from selling a house.
3. Upgrade your kitchen and bathroom.
A kitchen makeover and a bathroom remodeling can add tens of thousands of dollars to your home value. These kinds of renovations can help you make a profit from selling a house.
If these two rooms are around 20 years old, then it is time for a complete renovation. However, if these areas of your home are about ten years, then you could make some minor updates, such as a new eco-friendly refrigerator or a fresh coat of paint in the washroom.
4. Update your flooring.
Let’s face it: Adults, children, and pets can destroy the most durable of hardwood floors or carpets. Indeed, wear-and-tear is normal, and there really is no way to prevent it from happening over a long period of time. With that said, if it is not remedied before you put your home on the market, you could erase a few thousand dollars from your sticker price.
5. Enhance the lighting in your house.
Let there be light! In this hot housing market, the light may not be the hill to die on for either the buyer or the seller. However, it can be a nice addition to have when trying to sell your home. Although natural light is far preferable to artificial light, your home may not be an enthusiastic property if it is dark and grungy.
Many people underestimate the impact of lighting, but it plays a big part in making a profit from selling a house. You can always present the illusion of living in a light-filled oasis, such as more mirrors across from windows or opening all the blinds and curtains.
6. Create a digital history of your house.
Technology can play a big role to help you make a big profit from selling a house. Recently, the newest craze in the real estate market are homeowners putting together a digital home history.
There are plenty of online services around that help you produce an online footprint that provides a treasure trove of important details regarding your property. This would consist of household maintenance, warranty for various installations and upgrades around the home, and floor plans.
It is a great way for potential buyers to grasp how well the home has been taken care of. Moreover, it can be utilised as a complement to an appraisal.
7. Ditch the clutter during house showings.
Experts say that the best thing you can do during a showing is to ditch the clutter, de-personalise every part of your house. You want a neutral and relatively empty space so prospects can visualise the setting.
Plus, when you remove the clutter, you make the home appear to be a lot cleaner and organised. This simple cleaning task can possibly help you make a profit from selling a house.
8. Renovate different parts of your house.
In the end, it is all about the little things in your home that can be the cherry on top. If you want to make a bigger profit from selling a house, here is what you can do:
- Replace the light switches if they are old, dirty, or missing a screw.
- Install new locks around the house.
- Clean the garage floor and give the door a new coat of paint.
- Swap the old mailbox for a new one.
- A dead lightbulb for an unused room? Put in a new one.
- Hire a professional cleaning crew to perform a thorough clean.
- Try to make your home as green as possible.
These may not make your home a million-dollar property, but they can present your home in a really incredible light.