Summer may have been a good time to put up your feet and relax, and with the Fall around the corner, it’s also a great time to think about buying or selling. Your home will show at its best at this time of the year if you’re selling, and if you’re buying, the weather makes it a much more pleasant and comfortable time to house hunt. Whether you're looking to buy or sell, understanding best practices can make all the difference. Here’s what you need to know to make the most of the summer market in Ottawa.
FOR SELLERS:
Prepare your home for sale: Before listing your house, take the time to prepare it. This effort includes decluttering, making necessary repairs, and enhancing curb appeal. It increases the chances of a quick sale at a great price.
Invest in staging: A well-staged home is more appealing to potential buyers. It can highlight your home’s best features and help buyers envision themselves living there.
First impressions matter: A positive first impression solidifies the home’s value in the eyes of buyers. Emphasizing key features can enhance their perception and lead to better offers. Small touches like fresh paint and landscaping can make a big difference.
Price your home competitively: Work with your Realtor to set a realistic and competitive price. Overpricing can deter potential buyers, while a well-priced home can attract more interest.
Market your home effectively: Utilize professional photography, virtual tours and strong online listings to reach a wider audience. Effective marketing ensures your home stands out in a crowded market and attracts serious buyers.
FOR BUYERS:
The best time to buy is now: Don’t wait for the perfect market conditions. The saying, “The best time to buy a home is always five years ago,” holds true. Buy when you’re ready and financially prepared to make a move.
Focus on your top 3 needs: It’s challenging to find a home that checks every box. Prioritize your top three must-haves. A home needing minor updates can be a great investment opportunity, allowing you to customize it over time.
Be prepared to act: Even with more inventory available, well-priced and well-prepared homes sell quickly. Have a trusted Realtor to guide you and be ready to make a move when you find the right property. This preparation includes having your financing in order and being ready to make a competitive offer.
Consider future growth potential: Look for neighborhoods with signs of growth and development. Investing in an up-and-coming area can provide long-term benefits as property values rise over time.
Get a home inspection: Never skip the home inspection, even if you’re tempted to close quickly. An inspection can reveal hidden issues that could become costly repairs down the line. Always make an informed decision.
Navigating the Ottawa real estate market can be exciting and rewarding with the right approach. For sellers, focus on making your home shine and pricing it competitively, while buyers should stay ready and flexible, considering both current needs and future potential. By following these tips, you’ll be well-equipped to achieve your real estate goals this season. Happy buying and selling!