Preparing Your Home To Sell
I have been selling homes for over 40 years. I know there are many factors that come in to play when selling your home. I always ask the owners to tell me what they love about their home ? I'm looking for those things not easily visible or known. Like "The amazing sunsets" "The wonderful nieghbours" or "The amazing community services." I do business in a small town and I believe our civil servants are second to none and still understand that the property owner who pays taxes is their customer and the one who pays their salary. Often not only are you competing againest other houses but other communities when selling your home. What do you love about your community ?
COMPETING !! This is the key word to remember when selling your home. When you list your home you are competing againest other homes in your price range and location. That's why Realtors do a "Competative Market Analysis" when listing your home. They analyze the Competion and make recommendations based on how competative you want to be with your listing price. This is not to be confused with an appraisal or assessment. An appraisal is done by a seperate profession. An appraiser in most cases is licensed by the province or state and provides written property evaluations for lending institutions, law firms , tax purposes and the general public for a fee. Assessors on the other hand may be qualified appraisers but work for the government or government agency evaluating property for tax purposes. That's the annual property tax assessment you receive every year. Realtor's, Appraisers, Assessors are actually 3 seperate professions with 3 seperate job descriptions. In my case I am a licensed Realtor and Appraiser and work at both professions.
Now back to selling your home and we accept we are competing with other homes listed for sale. Now the question is exactly what are we competing with ?
Here is the List !!
1. PRICE Buyers will buy what they percieve to be the best house for the best price that offers them the benefits they are looking for. The better your asking price the more competative you are and the better your chances of selling before the competition.
2. Condition of the house Buyers bring in a home inspector . Buyers favour the house that will require the least amount of upgrading. They will negotiate the price based on what they will have to spend in the near future. The rule of thumb here is if the buyer has to spend a dollar they will beat you up for two or more. This is the time to call in those favours. Get the boys over with a box of beer and redo your roof. Call your cousin Bill and get a deal on new flooring. Remember this very important fact. Here in Nova Scotia Canada CRA (Canada Revenue Agency) does not make us pay any tax on any gain on the sale of our principle residence. So it is in your best interests to spruce your home up before resale to maximize your tax free return on resale. A good Realtor will be able to help you in deciding what repairs and upgrades you should and shouldn't do. Remember some upgrades maintain value while others improve value.
3. Mechanics of the house Today buyers are concerned about energy costs and water and sewer issues. What type of heat do you have ? Is it efficient. Did you know Nova Scotia has an energy rebate program and you might qualify for assistance. here is the link (Don't forget to come back I'm not done.)
http://www.novascotia.ca/sns/access/business/your-energy-rebate/about-the-program.asp
If you have an on site well and septic I would highly recommend some pre-listing maintenance for sure. With a dug well it has become almost impossible to get a water test to pass without treatment. (Most path labs now go with zero tolerance due to liability issues.) There are two main types of treatment. 1. Install an ultra violet system cost $600/$900 or buy and install it yourself from Home Hardware ($400+/-)
2. Chlorination or "Shock" the well with chlorine to kill the bacteria. Don't be alarmed this is what all municipal services do. Also what Dept of Health will recommend you do if you discover you have bacteria in your well. So do your own water test for bacteria and it wouldn't hurt to check for arsenic and uranium. You can pick up the bottles at the path labs here is the link to the one I use (Please come back I'm not done yet !)
http://novascotia.ca/agri/programs-and-services/lab-services/pathology-lab/
If you have a drilled well your test may pass but it still may need to be shocked if bacteria is present. Why go through all this ? Because most banks require proof of potable water before releasing funds to close. If you fix it before you list it you could prevent the sale of your house from falling through when the water test fails.
The SEPTIC This has definately become a bigger issue especially with older homes. Buyers have the right to bring in an expert to check the septic. This can range from a dye test to see if it's functioning properly to a video from the house to the tank and then from the tank to the field bed to a QP2 actually digging up the system to check it out. Replacing the septic can cost from $5000 to $30,000 depending on lot size and soil type. Septic systems are not complicated the tanks hold the solids where bacteria forms and converts the solids to liquids which are discharged into a field system where the liquids are filtered. The biggest mistake with a septic is too much detergents killing the bacteria and continuous flushing forcing the built up solids into the field bed. If you haven't pumped out your septic have it pumped and keep the receipt. Ask the people pumping if the tank appears to be working okay ? If he says it appears okay and you haven't had any issues with it you should be okay.
Here's a link to help you out. (Don't forget to come back)
https://www.novascotia.ca/nse/wastewater/docs/Homeowners.Guide.to.Septic.Systems.pdf
Heating Systems The type of heat you have is a factor. Oil is becoming less popular due to issues with oil barrells at present older than 10 years outside and 15 years inside need to be replaced but can vary depending on the insurance company. In preperation for selling have your heating system serviced and keep your receipt. Any wood stoves need to be CSA approved and wett certified to today's standards. If you have hot water oil heat check and make sure your plumbing is not kitec as that will cause issues with your sale/home inspection. Here's some info.(Don't forget to come back)
http://thechronicleherald.ca/homesnews/1155792-what-homeowners-should-know-about-kitec
4. PRESENTATION Last but not least. Presentation I often say people buy a home because of how it makes them feel. As important as the first 3 things on our list are nothing will make them buy your home if it dosen't feel right. That is an emotional decision as compared to a practical decision. I am often asked what is the most important thing I can do to help sell my home ? I always answer 3 things. Clean, Clean and Clean.
Clean and Bright always wins over dull and untidy. Make it sparkle, turn on all the lights, open all interior doors and open the curtains and drapes. This can be the toughest issue a Realtor has to deal with. It seems everyone has a different standard of clean depending on their own lifestyle. When you are selling your home you have to realize you will be competing with the highest standards of clean and even if you have to get someone in to raise your home to those standards it will be money well spent. Working Moms and busy Moms take heed your priorities are your children, careers and living life well not house work and that is fine except when you are trying to sell your house.
Staging is something that often comes up and can be a benefit. Decluttering is a must. Your home may appear cramped and claustrophobic if you don't declutter and make it as spacious as possible.
Pets !! Yes we love them but the buyers may not. No smells, litter boxes or doggie doo please. Minimize as much as possible.
The ultimate goal is to organize and present your home so that whomever comes through the door instantly feels at home and little things count. Warm (Maybe wood stv going) Bright (All lights on.) Inviting (Bread in the oven, flowers on the table even cookies and coffee on.)
Hope you've enjoyed my article and if I can help you out give me a call ! Happy Selling
Larry
Preparing Your Home To Sell
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