Whether you’re looking to buy or sell a home in Canada, you’ve probably noticed that winters aren’t particularly a great time for real estate deals. For instance, market experts note that 25% of fewer home sales were conducted in December 2020 as compared to May 2020. The practical reason is that moving in winter isn’t an easy job. However, you may need to sell your house and move without waiting for the weather to change in your favour. To help you out, we list 5 tips to sell your home in any season.
1. Use the seller’s edge of fewer homes on the market
Given that most homeowners prefer to wait until spring to move house, January typically sees fewer homes on the market. For this reason, the houses are more expensive this month. For instance, homes in the Greater Toronto Area (GTA) sold for an average of $878,000 in 2020 which is considerably higher than the prices they went for in the previous year. Experts also expect that real estate prices should show an uptrend in the year 2021 in contrast to the downtrend of 8% to 15% that was anticipated due to the pandemic.
To sell your home, you could take advantage of the higher estate prices and sell when there are fewer homes available in the market.
2. Target buyers who are seriously considering a move
At any given time, there are always serious buyers in the real estate market who are looking to move irrespective of the price trends or seasons. These are the potential buyers you’ll want to target to sell your home. For instance, work from home has really boosted the real estate market in 2020. Then there are buyers that like to scout around the market and apply for pre-approval so they can be ready to move come spring. Like mortgage expert at The Financial Forum, Lou Salvino advises, getting pre-approval for a mortgage during the off-season may get you more beneficial terms and conditions.
3. Take Advantage of Off-Season Facilities
During busy seasons, most real estate professionals are typically stretched thin keeping up with a deluge of buyers and sellers. However, during the off-season, these agents and other experts such as lawyers, stagers, appraisal agents, and mortgage brokers are likely to have more time to devote to your sale. This factor could help you get better deals.
4. Invest in Home Improvement Projects
Given that many home improvement projects you undertake can raise the value of your home, now would be a great time to get started. That’s because most professional contractors that assist you with floor improvements, painting, decluttering, repair jobs, and other add-ons may offer you off-season discounts during the winter when fewer projects are available.
5. Present Your Home in the Best Light Possible
As any agent will tell you, when prospective homebuyers come by to visit your home, they like to imagine themselves living in it. For this reason, you can do the best you can to make the home warm and inviting. Go the extra mile by shovelling and salting your driveway, and set out mats and pegs where visitors can hang up their bulky overcoats. Keep your home cozy and welcoming by furnishing it with warm fabrics like shaggy rugs, flannels, and furry blankets. If you can get your home professionally staged, that would be an added plus.
