Whether you own a detached home or a condo, demand from buyers for properties in Toronto is set for another record-breaking year in 2022, and real estate expert Heather Hadden is offering crucial advice on how to add value to your home and stand out in a crowded marketplace.
Experts like Hadden say that despite the coronavirus pandemic, the frantic pace of property sales in the city and its surroundings shows no sign of abating. The sale prices of some homes are reaching astronomical amounts, netting owners a fantastic profit. But as more property owners realize the potential money they could make from selling their homes, the greater the size of the portfolio of condos, houses and other dwellings that buyers can select from.
“A busy but crowded real estate market makes it ever more important that owners add value to their property and make it eye-catching and unique from other homes,” says Hadden. “You’re competing with other sellers to get the attention of buyers, who have plenty of options.”
Her company Hadden Homes offers a broad range of services for buyers and sellers alike, including staging and marketing of properties for sale, and helping identify “hidden gems” in the marketplace that other real estate companies aren’t able to find for potential buyers. Hadden and her team of 18 employees have in-depth experience of both aspects of real estate, earning the company its reputation as the go-to business for advice on buying and selling homes.
If you’re a Toronto homeowner thinking about selling your home, Hadden encourages you to act sooner rather than later. “2022 is going to be a crazy year for real estate,” she says. “It will be a great time to sell, and that’s why you need to know what to do and not to do before selling. The wrong decision can knock value off your property rather than help to increase its price.”
Hadden is offering some key tips on what homeowners should do, and what they certainly should not do, when trying to add value to their properties before listing them for sale. Follow these tips and you might increase your prospects of making a healthy sale profit.
Do: Clean your home from top to bottom
It’s a simple strategy and one that shouldn’t cost any money – clean every part of your home, making sure every room looks immaculate. If someone comes to your property to tour it before possibly making an offer and they are greeted with a dusty, messy interior then they will likely think the home is worth less than whatever asking price you are seeking for it.
Don’t: Leave your garden to grow wild
If you’re lucky enough to own a property with a garden or other outside space like a yard, don’t let it get overgrown. How the exterior of the property looks is just as important as the interior, and if a potential buyer shows up for a viewing and sees overgrown weeds and a messy garden, it could be a dealbreaker in a crowded market where excellence is a necessity.
Do: Give your bathroom a makeover
The bathroom (or bathrooms plural depending on the size of the home) is one of the most used rooms and therefore will get extra attention from buyers. A great way to add value to your home while also making it more enticing to a would-be owner is to give the bathroom a makeover with a fresh coat of paint, new lighting, and even new fixtures like a modern tub. You don’t have to break the bank with a bathroom renovation, even a small investment can pay off significantly.
Don’t: Cover up hardwood floors with carpet
Property buyers are on a quest to find homes with hardwood floors, and if two properties are alike but one doesn’t have wooden flooring, the other is likely to be the one that sells. If you have hardwood flooring in your home don’t make the mistake of laying down any carpet. Many buyers now find carpet to be a huge negative, and it could be enough to cost you a sale. Instead, invest your resources in polishing and repairing your wood floors to pristine condition.
Do: Cook up a great kitchen overhaul
Another heavily used room is the kitchen, and here’s where a modern makeover can truly help to boost your property’s value and make it stand out in the crowded real estate market. Spend some time and money in overhauling the kitchen with all new fixtures and fittings, replace any dark decorating with lighter colors, and try to make this busy room as inviting as possible. You want buyers to think that they’ll feel truly at home making meals in your kitchen.
Don’t: Dive into the deep end with a pool
Some homeowners who have the space and budget to install a pool at their properties think it could be a great asset when selling the place. Wrong. Adding a pool to your home is one of the biggest mistakes you can make – literally and figuratively. The hassle of maintaining a pool can be enough of a dealbreaker for some buyers to immediately lose interest in your home, and if you’re already planning on moving out, you’ll barely get any enjoyment out of the pool yourself.
Do: Convert existing space into another room
Perhaps you have a basement or an attic that is mostly used for storage, even though it’d be pretty easy to convert it to another bedroom, a home office, or another livable space. If you can clean up such a room easily and give it new life this way without investing in any construction, then that’s a simple and cost-free way to make your home more valuable to buyers.
Don’t: Get creative with bright decorating
Buyers who come to your home to view it ahead of possibly making an offer want to be able to imagine themselves living in the property. It’s best to give them as close to a blank canvas as possible by ensuring rooms are decorated in light and neutral colors. Don’t make the mistake of embarking on a colorful decorating spree before selling with eye-catching paint jobs that you think are necessary to get a buyer’s attention. It’ll have the opposite effect and drive them away.
Contact: Heather Hadden
Company Name: Hadden Homes
Phone Number: +1 (647) 360-2579