Bonnyville Homes Blog

Did you know that when it comes to selling your condo over a townhouse or detached home, there are certain things you as a condo homeowner can do to help entice sellers?

Here are three tips to help you ensure your condo is prepared for the real estate market, but that is the one that buyers want.

Declutter – When we are about to sell or move, we will often find ourselves in cleaning and decluttering mood. It is essential that when you are preparing to showcase your stunning condo that

 you declutter. It’s important because a condo can sometimes be as expensive as a house in suburbia with a car garage and picket fence. One needs to show the potential buyer all the possible space they can have if they buy your condo.

Condo Pricing – Chances are there may be more than one or two other condos in your building or near-by yours that may be on the market at the same time. It is important that you not only work with a real estate agent who is familiar with the area and type of listing but that they can help you price out your condo. This means knowing what will help a potential make an informed purchase. Installed a marble countertop? New appliances? These details can help price your condo over others.

Added Bonuses – Does your condo have a gym? Pool? Is there parking? Front door service? Storage? These are what are considered bonuses, and while to some, they may seem trivial, to a potential buyer, these are essential features they are looking for. Make sure when you work with a real estate agent, they highlight these but also when you are doing a showing, demonstrate the benefits of these bonuses. For example, having a front door service provides added security.

Remember, when it comes to selling your condo, you want to be as competitive as the other properties in the market. You want to demonstrate why your home is the home for them.

Your family of three is growing and becoming a family of 4 – or maybe you are just only looking to add more space to your household. Whatever the reason is, when it comes to upgrading your home, no one wants to be paying a mortgage on two homes.

When it comes to selling your first home and buying your second, there are a few things to consider.

Timing – You want to ensure that you can sell and buy your new home relatively close to one another. Whether that is having a closing date that allows for a perfect transition to your ideal move-in date, be aware of the timing over buying and selling your home.

Buyers or Seller’s Market – The real estate market is one that often will swing back and forth from a buyer’s market to that of a seller’s market. A buyer’s market is where there are more homes in the market than there are buyers. A seller’s market is when there are more buyers than homes to be purchased. When it is a seller’s market, this can sometimes result in above-asking prices and bidding wars.

Budget – Some homeowners think that because they’ve owned a home before that, they can afford a bigger house. This may be true, but it also may not be. It’s essential to consider your budget, from what your existing home will sell for to what you can afford. If you are looking to move because your family is growing – chances are you will need a bigger house, yes, but your budget will also change.

When you enter the real estate market, mortgage brokers and real estate agents often share that the average time a homeowner spends in their first home will be between 3 – 5 years. For some, they’d like to think their first home is their forever home. While that is hopeful, it is important not to close the door on the possibility you may find yourself looking to sell and buy at the same time.