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The Importance of Depersonalizing Your Home

When a buyer views your home for sale, they want to visualize themselves living there. They want to imagine cooking in the kitchen, relaxing in the living room, and enjoying get-togethers with family and friends.

However, when they see a baseball trophy on the mantle with your name on it, that visualization crumbles, especially if they don’t play baseball! That’s why it’s smart to depersonalize your home as much as possible when selling.

You don’t have to go too far. Simply do what you can to remove items that scream “We live here!” Consider stowing items such as:

• Trophies, diplomas, certificates and anything else with a name prominently i89displayed on it.
• Personal and family pictures.
• Mementos, knickknacks and other items of a personal nature.
• Notes, pictures, etc. on a fridge door or bulletin board.

Depersonalizing is a proven staging strategy that can help sell your home faster and for a better price. Depending on the number of personal items you have, you may be able to display them between viewings.

Staging Doesn’t Have to be Difficult

You’ve probably heard of “staging”. It involves setting up each room of your home in a way that maximizes its appeal to buyers. You’ve probably also heard that this strategy can help sell your home faster – and for a higher price.

That’s true. However, if you’re like many homeowners, you’re worried about the time, energy and cost involved in staging your home properly. After all, don’t professional stagers bring in special furniture and décor? Will you have to do the same thing?

Not necessarily. Staging doesn’t have to be a big imposition. In fact, there are many staging techniques that most homeowners can easily do on their own. Among the simplest are: cleaning, decluttering, fixing, and painting.

Rearranging furniture can also improve the look of a room, while putting some furniture into storage can make the room look more spacious.

A helpful technique is to think of each room in your home as a product for sale. Then, explore ways to make it the kind of room buyers would want to buy. When it comes to effective staging, that’s a good mindset to get you started.

TREB MLS Average Home Price September 2019

GTA REALTORS® Release September 2019 Market Watch

October 3, 2019 -- Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB's MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales. On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.

The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active listings at month-end being well-below last year's levels. This speaks to tightening market conditions and an accelerating annual rate of price growth. 

The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.2 per cent on a year-over-year basis in September. The average selling price for all home types combined was up by a similar annual rate of 5.8 per cent to $843,115. On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.

3 Ways to Sell Your Home Quickly

When you put your home on the market, chances are you’ll cross your fingers and hope that a good offer – or two or three – will come in fairly quickly. So, what can you do to help make that happen? A lot!

Here are just three of many sure-fire ways to speed up the sale of your home.

1. Price it right. Your home will sell more quickly when the list price is set at or near the current market value. That value is calculated using a number of factors, including what similar homes in the area sold for recently. You don’t want the price to be set too high, otherwise few, if any, buyers will bother to see it. On the other hand, setting the price too low may not excite as many buyers as you might think, and you may end up leaving a lot of money on the table.

2. Staging. This is all about presenting each room of your home in a way that looks attractive to buyers. The technique involves decluttering, reorganizing furniture, and decorating strategically. Staging is proven to reduce the number of days a home sits on the market. In fact, many studies suggest you can expect a 10-20% reduction in days on the market. Consider hiring a professional stager or get some good staging advice and do it yourself.

3. Flexibility. During the listing period, if you’re flexible when it comes to scheduling viewings, more buyers will see your home. More buyers means more chances that at least one will become interested and make an offer.

The great thing about these strategies is none involve lowering the price of your home.

Toronto MLS - Sales-To New Listings - September 2019

Toronto MLS - Sales - September 2019

TREB MLS New Listings - September 2019

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What To Watch For When Viewing An Older Home

Buying an older property definitely has its advantages. The neighbourhood will already be

well-established, so you’ll be able to get a sense of the community. The trees will be grown. The area will have a defined character. This combination of an older home and established

community may be something you like, or even love.

However, when you’re viewing an older home for sale, there are a few extra things you need to be sure to check. Here are the most important:

Needed replacements. Nothing lasts forever. In any home, there are items that will eventually need to be replaced. The most common include roofing shingles, furnace, water heater, air

conditioner, windows, deck, and fencing. When viewing an older property, ask about the age of each of these items. You’ll get an idea of probable upcoming replacement expenses.

Building issues. Homes were built differently decades ago than they are today. So, there may be issues that need to be addressed by a new owner. Some can be serious, such as water leakage and structural problems. Others, less so, such as old electrical outlets that need to be updated. If there are issues like these, they’ll likely be identified during the professional home inspection.

Drafts. Drafts are common in older homes. Of course, that doesn’t mean they shouldn’t be fixed. Even modest infiltration of air through an old window or door with worn weather-

stripping could add hundreds of wasted dollars to your energy bill each year. Look for signs of drafts when viewing a home.

The good news is, the overwhelming majority of these issues can be fixed easily. Don’t let them

dissuade you from buying an older home you otherwise like.

Buying a Home Out-of-Town

Have you ever considered selling your home and moving out-of-town? One concern that might be holding you back is the uncertainty involved of finding a home in an unfamiliar place. What are the best neighbourhoods? What are homes selling for in that area? What is it like to live there?

There are many ways to find out.

•  If possible, spend a day in the area. Walk some of the

   neighbourhoods. Visit schools and parks. Check out the local

   shopping and other amenities.

•  Talk to someone who lives there. This will give you firsthand

    insights into the area. You can facilitate this through a Facebook

    post where you ask to chat with a local resident.

•  View current listings in the area online. Most listings include helpful

   data on safety, demographics and other information.

•  Get a handle on home prices by finding out what a home like yours

    is currently selling for in that area. That will give you a baseline to

    determine what you can expect to pay.

What’s the bottom line? There’s no need to let uncertainty about finding a home in a different town or city hold you back.