March into Selling Season!
Buyers have spring fever and are motivated to buy — great news if this is the year you’re planning to sell! But before you charge into the market, let’s talk about the biggest make-or-break point for most buyers — the asking price of your home.
If you’ve been living in your home for a few years, and perhaps renovated and added home improvements along the way, you may expect that you’ll get all your investments back, and more. It’s important to recognize that, as much as real estate typically appreciates over time and most home improvements do add value, it may not necessarily mean your property value has automatically increased by as much as you hope it has.
Sellers sometimes want to “test” the market by pricing their home higher than market value, thinking they have nothing to lose and that they can simply lower the price later, should the property not sell. Unfortunately, this strategy can backfire on the owners if the unsold home then lingers on the market, creating the impression that something must be wrong with it.
Buying and selling real estate is no doubt the largest financial transaction most people will ever be involved in, which is why it’s crucial for us to get together and review recent asking and selling prices in your neighbourhood, create your up-to-date home appraisal, and set the right price for a smooth and successful sale!