Whether you are buying or selling a home in Ottawa, the process can seem very confusing and, at times, overwhelming. Having an experienced and dedicated RealtorⓇ by your side can make all the difference. Over the years, we have picked up a number of tips and tricks to make the home-buying or home-selling process go as smoothly as possible. In this blog post, we’ll let you in on a few of our best kept secrets – directly from our very own Royal LePage Performance Realty RealtorsⓇ!
Size isn’t everything
A bigger home doesn’t necessarily mean a bigger profit when it comes to sell. A home’s value is so much more than just square footage! Do your research and study the local data – or better yet, find yourself a RealtorⓇ to do the leg work for you! Look at areas of the city that are affordable now but where prices are appreciating quickly. Other factors than can increase a home’s desirability are its proximity to public transport and other amenities such as schools, stores and medical centres.
In terms of investment properties, consider how you want to make your money back – do you plan to sell again quickly, or would you like to rent for a longer period of time for sustained rental income? If this is the case, make sure to look at how rent prices are increasing in certain areas. If you are looking to sell and make a quick profit, look at areas when home prices are appreciating quickly. Start small – if you look at how the condo market is performing in Ottawa right now, you should have no problem finding renters for your small investment property. A smaller property will also likely have a smaller mortgage and more manageable upkeep fees.
Sort your finances first
Before you start house-hunting, check your credit rating and consult a mortgage broker. By speaking with a mortgage professional and obtaining mortgage pre-approval before you even start looking for a home, you are able to know just how much you can afford to spend. Having a good idea of your finances means you won’t be in danger of overstretching your budget. In this current competitive market, mortgage pre-approval also makes you a more desirable prospect to homesellers.
Put in some work before you list your home
Before listing your home for sale, there are a number of things you should consider doing to make your home as desirable as possible. Firstly, fix any small issues or broken items. Even something as insignificant as a broken light bulb or sticky door handle could turn off a potential buyer! Patch up any marks or holes in the walls and consider a fresh coat of neutral-coloured paint to really show off your home in the best light. You don’t need to spend a lot of money on renovations, but just a few minor upgrades could allow you to list for a higher price.
Looking to enlist the services of an experienced RealtorⓇ? Reach out to a member of our team today! Our RealtorsⓇ are at the very top of the Ottawa real estate game and are waiting and ready to help you find the home of your dreams.