Before you determine the listing price for your property and place it on the market, it’s important to assess your home for essential property repairs, cosmetic improvements and in some cases, major renovations to take place. Read our top 4 tips to maximize your sale below. Your real estate agent can then provide you with advice on the required updates and repairs specific to your property type and neighbourhood.

1. General Guidelines

In general, homebuyers and real estate investors seek the least expensive property in the best neighbourhood they can afford—but at the best value.

• Repairs and improvements should be made so the property shows well and is consistent with the neighbourhood’s standards and preferences.
• Capital investments and over-improvements that may not be recovered from the sale should be minimized.

With this in mind, you can maximize your financial return and increase the chance of selling faster.

If you have an older property, you may wish to get a professional home inspection before putting your home on the market. This will help you identify and address any major repairs that may be required. Unless you are prepared to significantly compromise on price, some home repairs are essential. These include:

• repairs to broken mechanical and heating systems
• siding and gutters
• broken appliances
• major fixtures
• structural deficiencies such as leaky roofs
• cosmetic improvements, including fresh paint and landscaping, are quick and affordable ways to help a home “show” better and often result in positive returns.

Ensure you prioritize your time and financial resources on projects that will maximize the value of your property, and avoid “over-improvements” that will do little or nothing to improve your home’s value by adhering to these general guidelines.

Learn about the Yvonne Huh approach to selling Toronto real estate here.

2. Exterior Updates

The first thing you may want to assess is the exterior, as this is often the first impression for any potential buyer and is often what piques their interest in the first place. Once the for sale sign appears on your property, the first thing passersby view is the exterior. There are several things you’ll want to consider:

• repair loose siding, damaged roof shingles, eaves, gutters and cracked windows for your home and garage
• secure loose shutters and awnings
• wash windows, gutters, mailboxes and doors
• repair cracked pavement and walkways on your property
• ensure lawns and gardens are attractive and well maintained
• sweep the entryway, porch and sidewalks daily

Book a seller’s meeting here.

3. Interior Updates

While your exterior might be what draws potential buyers in, it’s often the case that the interior is what locks them in. Before you consider taking property photos, having open houses or walk-through appointments, ensure you take these steps:

• repaint walls in a neutral colour with broad consumer appeal
• invest in kitchen and bathroom renovations that are in line with your property type and neighbourhood
• repair all broken appliances, fixtures, lighting and hardware, such as dripping faucets and shower heads, sticky doors, and cracked tiles
• steam clean carpets or replace them if necessary
• depersonalize your home so potential buyers can envision living in it. Remove personal photos, memorabilia and collections, etc.
• remove clutter from all areas to maximize space and if necessary, put furniture and personal items into off-site storage.
• clean every room thoroughly

Schedule a home evaluation here.

4. Condominium Documents

If you are selling a condominium, you’ll also need to prepare the detailed documentation relating to your unit and strata corporation in advance, as potential buyers and investors will request them in advance of writing an offer or before removing “subjects” on a contract of purchase and sale. These include:

• title search
• registered strata plan
• financial statements of the strata corporation
• property disclosure statement
• building envelope report
• strata and AGM minutes for the past two years
• other legal documentation required for your jurisdiction

Sotheby’s International Realty Canada offers essential marketing tips and information to help families and individuals sell their home at the ideal price and timeframe in today’s market. No matter where you’re located or what your budget is, our specialized expertise can help you get started on your next real estate endeavour.

If you would like to receive a comprehensive guide on selling a home, download the Sotheby’s complimentary Home Sellers’ Guide.

Looking for more information? Contact Yvonne Huh to get expert insights about all things real estate. Call or email today to get started.