Sun
A recent report by the Real Estate Board of Greater Vancouver (REBGV) indicates that listings are rising and sales are slowing.
“The market is continuing to balance, with sales and listings beginning to re-align with our 10-year averages,” says REBGV president, Dave Watt. “The selection of inventory hitting the market is wider than we have seen in the past few years, which gives prospective buyers more choices.”
When getting your home ready to sell in a buyer’s market, you need to look at your house in a new way. Think of your house as a product about to be launched in a competitive market. It needs to show well – which means clutter-free and well kept.
Today’s homebuyers lead busy lives and may not be interested in taking on major repairs or improvements upon moving in. Ensure your house looks fresh, clean and well maintained when the “for sale” sign goes up.
If you need to make improvements to your home, do the work before it goes on the market. Potential buyers are not interested in hearing about your good intentions to look after defects before a transfer of ownership takes place. Even if fix-up work is underway, buyers may not be able to visualize what your home will look like when the work is finished. They will just remember it being in a state of disrepair.
Next to de-cluttering painting is probably the least expensive improvement you can make and it’s not the chore it used to be. A professional look is now easier to achieve. Whatever your project, talk to the paint experts where you purchase your paint. They are a valuable resource.
If you are having a hard time visualizing the colour, inexpensive computer software programs can allow you to try out different colours. Or, there may be a decorating service where you buy your paint.
Could the outside of your house use a new coat? Stand at the curb in front of your house. That is where prospective buyers will be when they first see your home; and, that is where they will form that all-important first impression.
While it’s sometimes hard to be objective about your own home, take a tour as if you were a prospective buyer. Buyers want to see a neat, clean, well-lit interior. Get clutter out of sight; ensure that carpets are clean and floors are scrubbed and polished; and that walls and trim show fresh paint (preferably neutral or light colours).
Take a sniff. Are there any unpleasant odours in your home? If so, track them down and eliminate them. Ensure all your lights work and are free of cobwebs. You want your home to look spacious, bright and fresh.
If you have considerable family memorabilia about, consider thinning it out. Your objective is to help potential buyers feel as if they could live in your home. That mental leap becomes more difficult for them if your house resembles a shrine to you and your family. If you’re having trouble distancing yourself from your home, you might consider enlisting the help of a home staging company.
Professional realtors and decorators say the most important areas of your home to upgrade and modernize are the kitchen and bathrooms. Buyers also want to see new or recently installed floor coverings throughout.
Keep furniture to a minimum so these rooms do not appear smaller than they are. Ensure that traffic can flow in or through these rooms unimpeded. If they contain bookshelves or cabinets overflowing with books, magazines and knick-knacks, remove some of these items. Ensure bedroom closets look spacious, organized and uncluttered. Create space by getting rid of old clothes and junk. Remember to remove or lock away valuables such as jewellery, coins, currency, cameras and compact discs.
© The Vancouver Sun 2008
