Market Value of Your Home & Preparing Your Home for Market

If you were to put your home up for sale tomorrow, how would you determine what it would likely sell for? and how do you get the most dollars?

Your home’s probable selling price is influenced by the following factors:

1. The type and style of your home.
2. The condition of your home. (Is it “move in” ready?)
3. Have major items (roof, furnace, windows, kitchen, baths, etc.) been updated?
4. How well your home shows (Is it staged?)
5. The desirability of the neighbourhood and your home’s location.
6. Recent selling prices of similar homes in the area.
7. The current demand for a home like yours.

All these factors, especially recently sold homes in your neighborhood, need to be considered in order to determine the market value of your home and the price range within which your property will likely sell.

Why is this information important? If you plan on selling soon, the benefits of knowing the probable selling price allow you to consider how to price the home and what a reasonable offer would be. But even if your plans to move are far down the road, it’s still a good idea to know what your home is worth today. That information enables you to plan ahead and make better decisions for your next home purchase, whether you need to consider selling and buying a home at the same time, budgeting and timing of your move.

The next question is: how do you get the most dollars for your home/property? Preparation and a plan are key. Below are some key items you can do to prepare your home for market.

Preparing Your Home for Market

1. Consider your curb appeal. In the Winter months, driveway should be clear and walkways, decks, patios should be shoveled to show them off. In Spring, Summer & Fall, decks and patios should be freshly stained and interlock resanded.
2. Fence – repair any damage and if a wood fence consider power washing and/or staining.
3. Eavestrough – cleaned out and in good repair. Downspouts should be extended in Spring, Summer & Fall.
4. Prune shrubs and edge flower beds, use mulch to finish.
5. Declutter your house and simplify, you want potential buyers looking at the rooms not your personal items
6. Repaint walls to neutral tones, don’t forget baseboards and trim. High traffic areas like foyers, halls and stairwells may need to freshened up to look their best.
7. Flooring – is the carpet clean and has no wrinkles. A fresh cleaning and stretching of any wrinkles will help make carpets look their best and show that you have taken care of the home
8. Window coverings – open to let natural light in.  If too heavy or dated style then consider removing.
9. Kitchen and bathrooms must be fresh and cabinets organized, and tile caulking in good condition
10. A tidy and clean garage shows potential buyers the space for cars and storage
11. Basement – if not finished – organize to show off spaces (rec area, office or bedroom, workshop & storage).
12. Check and see if any cracks in foundation. If you see cracks, call a professional to get an estimate for repair.
13. Fix any loose handles & door knobs/locks so that they close properly. Replace burnt out light bulbs, lighting is important for showings.
14. Clean, clean, clean
15. Staging – doing the above gets your home ready for staging and showings. Staging is key to show off room sizes, layout and key features of the home on the web, social media and during showings.

As experienced Kanata Realtors^®and Ottawa Realtors^® we would be happy to prepare a home evaluation for you and make a plan to help you get ready for market, whether for next month or next year. Helping you prioritize the items that will have the biggest impact on potential buyers and dollars obtained is our specialty. We also have contacts of professionals, i.e. painters, handyman, flooring, to assist you. We have been successfully staging homes for years, whether a small condo, single family home or larger property. Many of our clients have asked us to stage their new home!

Have a question about the market, your home or houses for sale in Kanata or Ottawa, please feel free to contact us.