Selling your home in P.E.I.'s 'hot' spring market: 5 tips
'You might be used to all this stuff, but now your home is going to be on display'
Spring has sprung and real estate fever seems to have hit P.E.I. hard. And what just a year and a half ago was a buyers market seems to have turned around dramatically.
"The market right now in P.E.I. is really hot right now," said Tayler Weeks, realtor with Allan Weeks Real Estate.
The second those potential buyers pull into your driveway, you want them to be impressed.— Tayler Weeks, Allan Weeks Real Estate
"We had a tremendous first quarter of 2016 compared to 2015, and things are looking promising so far in the second quarter," Weeks said, noting P.E.I. saw 432 sales in the first quarter of 2016 compared to 289 last spring.
Every area of P.E.I. has seen an increase in sales, Weeks notes, but Charlottetown and surrounding areas are definitely the hottest market, with home sales up more than 41 per cent this compared to last. Better weather this spring was a major factor, realtors agree. According to the Canadian Real Estate Association, national home sales in April 2016 rose to their highest level ever across Canada.
At the same time, the number of listings is up too: 1844 this year compared to 1394 last year, an increase of 32 per cent, points out Century 21 broker/owner Joel Ives.
Wondering what will make your home stand out from the crowd? Here are some tips from the pros.
Curb Appeal
"What I tell people is you have to sell your home three times — once online, once driving by, once going in," said Re/Max agent Linda Anderson. Photos online — she takes 25 or 30 per listing — must be done well. If people like the property online, they'll drive by, so edge and weed your flower beds, mow the lawn and replace that rusted, outdated outdoor light fixture, she advises.
"The second those potential buyers pull into your driveway, you want them to be impressed," agrees Weeks, who likes a freshly-painted front door.
De-Clutter
De-cluttering can mean different things to different people, but all realtors say it must be done to some extent.
"If your plan is to move anyways, why not start cleaning out your closets and storage rooms and host a yard sale," suggests Weeks.
"Make the closets appear bigger," agrees Ives. "Usually one of the reasons you are moving is you need to change space. That is no different than your buyer."
This time of year, he advises sellers neatly store away their heavy winter things.
"You might be used to all this stuff, but now your home is going to be on display," said Anderson, who works with a home stager.
"If I walk into somebody's living room and there are family photos in different frames at different levels all over the walls — we advise taking them down," adds Anderson.
"People want it tidy, cause that's what they see on the shows — they see the before and after, and they all want the after."
"Kitchens and bathrooms must be "clean, clean, clean," Anderson stresses.
Cat litter box? Put it outside if you have time.
Fix It Up
If there is something broken, fix it yourself or hire someone to do so before buyers start viewing. Loose railings, holes in the wall, leaking sinks, squeaky door and burned-out light bulbs are things you'll want to address.
Best bang for your buck is always a fresh coat of paint.— Joel Ives, Century 21
Some items just have to be fixed if they have to, said Ives. "Furnace, oil tank, leaky roof etc. It may assist the new buyer in not having to spend money in the near future and may make the house more appealing versus one that is similar priced."
What to upgrade
There are lots of suggestions for adding value to your home through upgrades, but deciding whether to update or let buyers put their own stamp on renovations can be tough.
"Best bang for your buck is always a fresh coat of paint," advises Ives. "Not too much in wild colour, most new buyers will still want to add their own personality but a fresh clean wall at least is inviting."
Renovations or additions should be current to the price point or marketability of your home, Ives adds. For instance, if you are selling in an area where homes are priced between $175,000 and $200,000, spending lots of money on gardens, granite counter tops, appliances and movie rooms, although nice, may price you out of the market.
"Don't put a Cadillac sound system into a Chevette and expect a Cadillac sale price, it's still just a Chevette," said Ives.
A new kitchen backsplash can make a huge impact and costs very little, said Anderson. Stay neutral, she advises, adding white subway tile "never goes out of style."
Update kitchen cabinets with new hardware — another quick, surprisingly high-impact upgrade.
Final touches
Anderson often spends several hours staging a home for her photos, and they always include fresh flowers or greenery, especially in the bathroom and kitchen.
"Never ever smoke in your house if you want to sell your house and get top dollar," she advises. "It's a big turn-off these days."
Gently scent your home by simmering a small pot with water with cinnamon and cloves on the stove, she adds, then put it away right before potential buyers visit, if possible.
Give each of your kids a rubber tote to throw their toys into quickly and neatly if a viewing is imminent, and tuck it away in a closet. Take top sheets off kids' beds and leave them with one quilt or comforter for the duration of the time your home is for sale — it's faster to make the bed.
New towels, oven mitts and tea towels are a "cheap and cheerful" way to make your home look cared-for, Anderson concludes.