There’s no secret that we’re in a buyer’s market right now in Kingston. There seems to be a large number of listings on the market and some have been on the market for a long period of time. So why aren’t those homes selling? What’s the problem? While I can’t really pinpoint exactly why those homes aren’t selling, I can and will share ways to help ensure your home isn’t next:
- Price it Right! – While you may be a HGTV real estate expert, the right price for your home lies within the most recent sales history in your particular area. If you own a 1,100 square foot bungalow in Strathcona Park then you want to look at bungalows that have recently sold around the same square footage, ideally on the same street (or as close as possible) and have the similar characteristics. We call these comparable sales or “comps”. In this case, a two-storey 2,500 square foot home in the next neighbourhood over is not at all comparable. Comparable properties that have sold are what you are looking for, not what is actively on the market. Sold properties give you an idea as to what someone (the market) is actually willing to pay. And active listings are well, still for sale… Trust your realtor in this situation and the data he/she provides.
- Clean and depersonalize – Of course this one is easier said than done, especially if you have kids but this should never be overlooked. I’m not saying to hire a professional stager (Although that always helps), I’m saying to keep the place clean and free of clutter. Clutter makes your home feel small and hinders it’s natural flow. As for cleaning, I shouldn’t have to go in too much more detail but there is nothing worse than showing a home where you feel the dirt on your feet and the grease on the kitchen counters.
- Add a fresh coat of paint and change hardware – Something as simple as changing the paint colour to something more neutral or painting original wood baseboards and window/door trim white (May be a good idea to paint or purchase new interior doors to match) can make a huge difference to the appearance of your home to potential buyers. Also, the buyers will see at as one less thing to do when they move in! A colour I always recommend is a warm grey, it goes with everything and seems to be the colour of choice for home buyers. Also, changing light fixtures and door hardware to something a little more modern can really improve the look and feel and it’s not very difficult to do.
- Update your Curb Appeal – Now, this is where you can over spend if you’re not careful. Updating your curb appeal doesn’t mean adding 45 new flower beds that are overgrown with weeds. Simple updates that make the largest difference are: changing your front door, adding mulch to your current flower beds (neutral colours!) and general maintenance. General maintenance includes fresh cut grass, trimming grass around beds and trees, trimmed trees and maintaining flower beds.
There you go! Following these tips will help to ensure your house doesn’t stay on the market for long!