October 2021 Real Estate Newsletter
Wednesday Oct 06th, 2021
Goodbye September, Hello October! Thanksgiving is just around the corner; the leaves are changing colour and the temperatures are much cooler at night - Kind of refreshing if you ask me. So how is the real estate market doing now? Prices are still strong in the country markets, towns in the suburbs are not as competitive, but overall, it’s still a great time to buy. Selling on the other hand, is not as hot as it once was earlier this year. It does tend to take a little longer to sell a home right now, and in some cases over a month. However, the prices are still higher compared to the previous year, so being patient still has it benefits. Keep in mind the market typically works both ways – sell for higher, buy for higher – buy for less, sell for less.
TOP UPGRADES FOR THE RESALE MARKET
When it comes time to put your home on the market, you might want to consider doing some renovations to maximize profits and increase the saleability of your home. Most buyers today want move-in-ready homes and will pay top dollar for a beautiful design. Here are some of the most important parts of your home that you should invest your money into sprucing up.
Kitchen - I think this is the most important part of a house. A nice kitchen is a major selling feature and can make or break a sale. The goal is to attract a wide demographic of buyers by picking more neutral tones and a timeless design while keeping within a budget. Make it look bright, spacious, and inviting.
Bathrooms - Everyone loves a shiny new bathroom! Keep it neutral again – bright, spacious, and inviting. If you have an opportunity to create a bathroom in your basement or an ensuite in the master bedroom, this will add value and attract more buyers.
Paint - A fresh new paint job is always a great idea. Stick to something light and bright that will complement your flooring and space. Your ceiling might need a coat or two as well. Don’t forget your baseboards, doors and trim.
Some other items to consider updating are your floors, windows and your landscaping. The goal is to make your home appealing to buyers and to maximize your selling price. Always consult with and hire a professional.