How to get Maximum Value on your Home Sale in the Current Edmonton Market!

There’s a lot of factors that come into play when talking about getting maximum value for your home. In this article we will discuss what some of those factors are - how you can potentially increase the value of your home, what you should know about a sellers market, and what other factors affect the value of your home.

When getting your home appraised to sell, it’s helpful to know why it should be marketed at said price. The location, condition, age, and presentation are just a few of the things that will be taken into account. For example, if you have an outdated kitchen, you’re likely going to receive a lower market price because your kitchen is not updated, and this is what most buyers are looking for. Though, while you can’t change the age of your home, you can most definitely make small improvements that could drastically increase the value of your home. 

Updates

Diy projects are going to be your best friend if you’re wanting to increase the value of your home. A little paint, some new handles on your cupboards and upgraded lighting could increase the value of your home by thousands of dollars - just because your kitchen looks a little more modernized. Along with a few small upgrades, keeping your home neat and getting rid of clutter can also help in raising your home value.

Location

Just like you can’t change the age of your home, it’s also nearly impossible to change the location of your home. This is why it’s important to understand what “specific house” means. This means that primarily based on the location and neighbourhood of your home, this is the starting point for the determination of the market value of your house. If you were to compare the exact same house in another city or neighbourhood, the price may go up or down strictly based on the location. This is why when pricing your home it’s important to look at the prices of homes selling in the same or similar neighbourhoods.  

Timeline

Keep in mind when selling your home, the amount of time your home is on the market is also going to be a determining factor on how much you can get for it. Ideally you want to price it at an amount where it will sell within 30-90 days! Just like anything, when an item is on the shelf for too long, the value is going to decrease. This is the same for your home. If you price it too high and it doesn't sell, you’re going to have to end up bringing down the price anyways. This is why it is crucial to put it on the market at the right price.

Finding the Right Agent

My final tip for you is to ensure that you get the right agent. Here at Haupt we can ensure you that we will help you get the best value for your home in the current market! Contact us today if you’re ready to discuss selling your home and we will help you navigate the whole process!