By: Gary Singh

Your Monthly GTA REAL ESTATE NEWSLETTER - November 2020

Tags: HOMES FOR SALE. TORONTO. MILTON, BURLINGTON, MISSISSAUGA. OAKVILLE, VAUGHAN, GTA

Feeling Cool about Selling in November or December?
 
If you need to sell your home in the next month or two, you might be worried. After all, aren’t spring and summer the ideal seasons to list your property? If you list in November or December, you might have difficulties attracting buyers and getting the best price for your home. Right?
 
Not necessarily.
 
While it’s true that spring and summer are traditionally busy periods in the real estate market, properties do sell every month of the year.
 
So, if you’re thinking of selling, you’ll need to know two things:
 

 
There might be a local seller’s market this month. That would mean there are more buyers looking for homes like yours than there are sellers. If that’s the case, your property will likely sell fairly quickly; perhaps you’ll even get multiple offers.
 
But, even if there’s a buyer’s market at this moment, that doesn’t mean your property won’t sell. It just means your home will need to be staged and marketed effectively to attract the right buyers and pique their interest in making an offer.
 
Regardless of the market, chances are, there are buyers out there looking for a home like yours. They just need to find out about it, become interested in viewing it, and be wowed when they see it.
 
So, don’t be too concerned about the month. If you’re ready to sell, there’s a way to make it happen.
 
Call me for more details.



Buying a Home that Needs Some Work
 
When you’re shopping for a new home, you probably want the property to be as “move in ready” as possible. That way, you can... well... just move in!
 
However, there are a lot of fantastic properties on the market that need some work. For example, you might see a home that has everything you need, but the kitchen is long overdue for a renovation. Or, you might view a property that requires a lot of repairs and painting — tasks that, at first glance, seem overwhelming.
 
You don’t want to just pass on a property that might be a great buy. On the other hand, you don’t want to purchase a home, only to end up with more renovations, repairs and expenses than you anticipated.
 
What’s the solution? Here’s an idea.
 
When you view a home that needs work, make a note of exactly what needs to be done. Stick to the important “must have” improvements and leave “nice to have” improvements for a later time. Chances are, you’ll identify just one or two projects — such as “paint all the walls” or “replace the countertops in the kitchen”.
 
Once you have that list, you’ll be in a better position to determine how long the work will likely take and the approximate cost. This will give you some needed perspective on whether or not to buy the home.
 
If a home you’re considering needs $15,000 in work that can probably be completed within two months, that might make the property worth buying. In fact, it probably would!
 
So, when you see an otherwise ideal home that needs some work, don’t let your imagination make that work into more than it is. Take notes and get estimates.