You would be surprised at how far creativity within a budget can go for homeowners wanting to flip a property for profit. The average selling price for transactions reported in Toronto during the first 14 days of this June was up by double digit percent points as compared to last year. If you’re a homeowner—congratulations! You have made a good investment as your largest asset has increased in double digits. If you are considering downsizing to a smaller home, you will be smiling blissfully as you are going to have greater liquidity while executing your decision.
However, when selling your home, you should make it appealing to as many buyers as you can. Open concept living, dining and kitchen area is a great draw, so get rid of non-structural walls and partitions to create a sense of openness and flow. Making a lasting first impression is vital. Trim overgrown bushes, hedges and plants to make your garden look inviting and safe. And yes, please ensure the lawn is mowed! Freshening up your kitchen and bathroom will definitely add value to your home as buyers love clean and well-maintained properties. This includes simple upgrades like replacing leaky faucets and painting the bath tub. Painting is probably ‘the most important upgrade’ that makes all the difference in clinching that lucrative deal. It’s safest to stick with neutral colors like whites, greys or pastels as buyers tend to have varying tastes in choice of color.
Last but not the least, give your home a touch of your personality. Decorate it with paintings that reflect character and lend a positive vibe to your space. Landscape canvases are ideal if you like nature; however, monuments are good conversation starters too. Remember, a warm and fuzzy environment is more likely to appeal to prospective homeowners than a space encumbered with items bought without much thought or purpose.
Vinita Kinra is a Toronto-based author, editor, speaker and activist, best known for her short story collection, Pavitra in Paris, launched to critical acclaim in 2013. She is also a contributor for India’s largest English daily, The Times of India.