When you’re young, thoughts of retiring or downsizing may seem like a million years into the future, something that is of little to no concern in your day-to-day life. However, the reality may appear closer than you realize once you hit your mid-40s, early 50s, or even late 30s. 

With the higher cost of living now and inflation showing no signs of slowing down, some people are selling their homes in favour of something smaller and less affordable. Many are doing so at a younger age than they’d ever imagined a few short years ago.

If the thought of retirement or even a more affordable lifestyle is on your radar, it’s a good time to think about how to get the best results should you decide to sell your house. 

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Why Getting Top Dollar Is Critical

In many ways, a successful sale begins with your mindset. Your house is likely your greatest financial asset, and it is natural to want to capitalize on its full value. More than that, it is the place where you have created many memories and shared experiences with the people you love most. Your home has served you well over the years, and now, it will play a significant role in helping you move on to the next stage in your life. 

During challenging economic times, getting out of debt and having a nest egg is critical to your well-being. The closer you get to retirement age, the more true this becomes.

Earning top dollar when selling your home can mean the difference between having to struggle during what should be your golden years or retiring in comfort. Once you understand what’s at stake, you can begin creating a strategic plan to maximize your sale in the current market.

Want even more practical tips to help you sell your home in the GTA? Check out some of our related posts below:

Work With a Local Expert

A local real estate expert with a pulse on the market can help you ensure you do not leave anything on the table. Selling a house successfully involves countless small details, many of which can change in a heartbeat. 

For example, you might decide on a pricing strategy only to see the market shift between now and your listing date. In addition, extensive networking and marketing are often necessary to find a buyer who is both interested and able to purchase your home. There are countless minor updates and upgrades that add tangible value to your home, but which ones? 

Having an experienced professional to guide you through the twists and turns of a real estate transaction will alleviate much of the stress from the process. And once everything is finalized, you will almost always earn more money from your sale than you could without an agent to negotiate on your behalf.

Expert Home Presentation

The saying “Don’t judge a book by its cover” is well-intended, but we all do it. And potential buyers begin deciding whether they love your home before they even see it in person. That’s why professional photography, videos, and online floor plans are so critical in today’s market. 

When an interested buyer visits in person, you have one chance to make a memorable first impression. While this doesn’t usually mean you must endure months of invasive and costly renovations, you do want your home to look its best. 

The tricky part about presentation is that potential buyers can have vastly different preferences. One homeowner’s version of tasteful decor is another’s disaster, and trends can change as fast as the weather. 

Some improvements that you think are necessary today may have no effect, and others could actually make it more difficult to sell your home. When you’ve owned your property for many years, it can be challenging to keep up with what buyers in the current market are looking for. How can you handle this situation? You will want an experienced Realtor® by your side to help you focus only on the upgrades that will have the most impact. 

Keeping Up With Market Trends

Keeping up with the latest trends is no easy feat for any homeowner, especially one who has not bought or sold in many years. General principles apply most of the time, but minor details can change quickly. 

  • For example, a fresh coat of paint is always a step in the right direction. But what colour? Should you use gloss or matte? Bold and dark colours used to be all the rage, but have since fallen out of favour. Now, neutral tones like grays, soft whites, and light beiges tend to be more attractive to potential buyers.
  • Once, it was almost a given that investing in high-end finishings would pay off substantially once your sale finalized. Now, buyers often prefer to choose their own, and will not pay extra for these luxuries. 
  • Then again, adding wallpaper was also once in style, used by homeowners everywhere to add “interest” and “character” to a room. Now, potential buyers are more likely to gasp in horror and rip it out as fast as they can.

The bottom line is that investing in home improvements can help you earn a higher return. Knowing which ones will help you make money, save money, and save yourself from a world of unnecessary headaches.

Do you want more information about downsizing in Halton or Oakville? The related reads below will help:

Effective Pricing Is Critical

Your price point is the single most important factor in your home selling strategy. It can affect whether your house sells quickly for top dollar, languishes on the market and only sells after several price drops, or doesn’t sell at all. 

The right price is that which attracts the most attention from qualified buyers without sacrificing the value of your home. And getting it right can be counterintuitive. If you want to command a high amount, it seems to make sense to set your price high. The logic is that you could always negotiate with interested buyers if it’s a little too high. 

In reality, overpricing almost always works against you. All too often, a price that is not aligned with the current market will result in selling your house for less, not more.

How do you determine an accurate value for your home? It comes down to the ability to analyze up-to-the-minute data combined with an instinct that stems from years of industry experience. A local real estate agent can perform a CMA (Comparative Market Analysis) that will help you determine the range that is most likely to generate the maximum level of excitement for your listing. 

The more interested buyers you attract, the more likely you are to earn the full potential from your sale, and the more empowered you will be to move on to the next chapter of your life. 

Do you want more unbiased advice to help you succeed in today’s challenging market? Reach out today to 416-884-7925 or damir@damirstrk.com with any questions you may have, and I am happy to help.