Price Determining Factors When Selling Your Home in Calgary
Are you thinking of selling your home in Calgary? If so, there are some key selling factors that you’ll want to be aware of as they can greatly affect the resale value of your home.
If you do find your property lacking in one of the categories below, not to worry as there are other methods to increase resale as outlined in these 15 Ways to Increase Your Home’s Value.
Here are the most influential features that can add or deduct value off of any homes resale price…
A simple rule of real estate is that new homes are typically worth more than their older counterparts. However, there are exceptions when it comes to heritage homes.
If you do happen to own a heritage home it’s likely that you’re sitting on a gold mine.
Heritage homes have a special designation due to their environmental, historical, architectural or scientific value. A prime example would be the Lougheed House in Connaught.
Between new and heritage homes are less-valued properties that are usually bought then redeveloped, like the post-war bungalow homes in Calgary’s inner city communities constructed in the 1940’s and 50’s that today are being transformed into brand new infills.
The location of a home has always played an integral role in its overall value.
It goes without saying that if there were two identical homes in two different locations – one with spectacular views and the other without – it’s likely that the one with the view will be worth more on the resale market.
Another important aspect of location is walkability; neighbourhoods like Sunnyside, Connaught and Eau Claire for example are highly sought after because people can enjoy the convenience of living a walkable lifestyle.
For some, a nearby elementary school and active community centre may just be all they need to make a move.
These are all things to think about when buying a home in Calgary and how the location may affect your resale value in two, three or even ten years down the road.
While it’s important to make sure you buy a floor plan that fits your lifestyle, it is also crucial to think about if it will be outdated by the time you sell.
A flexible floor plan that can serve many different purposes is best as it will cater to the needs of more potential buyers down the road.
For example, an open-concept floor plan will look much more spacious than a traditional format with separated rooms. Keep this in mind if you`re a home owner looking to do some renovations!
You would think that renovating your home would always increase its value but there are some exceptions.
If you live in a luxury community then high-end renovations would most definitely add value for potential buyers and increase your overall market value.
On the other end of things, a fancy renovation done to a home in a middle-class neighbourhood may not always pay off because potential buyers may not see its value and be willing to pay for it.
Making an appointment with an appraiser would be the best way to determine if a home renovation would add selling value, or, consulting a real estate agent who is an expert in your neighbourhood.
Keeping your house clean (or not) can add up to a considerable change in the asking price and time spent on the local real estate market.
- Potential buyers notice the small things:
- dust on baseboards
- stains on the carpets
- smoke odour and yellow roofs (smokers)
…and other things of the sort all add up over the long haul.
Also, if something in your home breaks, try fixing it as soon as possible as you may never know how it will affect things in the years ahead.
An example would be forgetting to change your furnace air filters. This task that should be done every two to three months, if not it can lead to large amounts of air born dust and unpleasant odours in your home.
Be prepared when selling and check out our list of Standard Home Maintenance today.
More Sellers Guides
For a complete list of sellers’ tips, be sure to check out our Calgary Home Sellers Guides today.
Planning on selling sometime soon? Get a free Comparative Market Analysis on your home today!
Questions about Selling Your Home?
As an experienced REMAX Real Estate Professional, I will help you maximize your home’s value while providing you with only the best level of service and expertise the industry has to offer.