Sell Your Home in Canada. Geraldine Santiago

or its location (e.g., Is your home on a busy main road? Is it too close to the golf course or train tracks?).

      Highlight the positive aspects of your home as much as possible. Buyers will probably notice the negative aspects themselves. Also remember that some negative aspects may not be entirely negative to some people. For instance, having a golf course nearby may be ideal for seniors, or being on a main road may be great for someone who doesn’t drive.

      Selling the Neighbourhood and the Community

      When you purchased your home, you were probably also sold on the neighbourhood and broader community. These are great selling features that you should emphasize for potential buyers. For example, you may want to tell them about nearby schools, recreation centres providing year-round activities for the community, parks, hospitals, shopping centres, and places of worship. If you are selling your home to a young couple or young family, indicate how close they are to the nearest elementary school or daycare centre.

      Make sure you let all potential buyers know what services are provided by the city, such as police, ambulance, garbage collection, mail delivery, fire protection, or snow removal. Buyers will also want to know about accessibility to your neighbourhood — is public transportation frequent and reliable, is there easy access to express routes, and so on.

      Selling a Condo

      If your home is a strata type of ownership, find out some of the basic information that buyers always ask about this kind of property, such as the amount in the contingency fund; what repairs (if any) have been done or will be done in the future; what the monthly maintenance fees are and what they include; whether there are restrictions on pets, the age of residents, or renting out a unit; and whether there have been recent sales in the building. In addition, tell all potential buyers what is included in the price. For example, let them know if there is a storage locker included, one or two parking spaces, recreational facilities, and so on.

      Amenities provided in your condo development may significantly enhance the property you are selling.

      Don’t get caught not knowing about your own home. Buyers are hungry for information and they want it fast! They expect that you know about your property unless you are an absentee owner or an investor. If you don’t know the answer to their question, the next best thing is to be honest about it and tell buyers that you will find out and let them know as soon as possible. Never give buyers inaccurate information. In real estate, honesty is the only policy!

      If you are selling a condo in a new development, you are also selling the builder’s and developer’s reputation and goodwill. Be sure to mention other projects they are currently building, site builder/developer warrantees, the name of the warrantee holder, after-sales service the builder/developer offers, and reports of customer satisfaction. Potential buyers may be new to the area, province, or country, and they may not know of the builder’s or developer’s credentials. Include this information as part of your sales and marketing effort.

      Equally important for potential buyers are the amenities provided in your condo development. For example, many strata corporations offer recreational facilities — a fitness gym, sauna, hot tub, swimming pool, tennis court, or outdoor areas such as a pond or a lake, or indoor rooms such as a library, sitting room, party room, billiards room, or movie-screening room. In addition, there may be other services that your condominium provides, such as a 24-hour, seven-day-a-week concierge, caretaker, or property manager, or parking facilities for guests and visitors.

      Some newly built condominiums offer state-of-the art security systems, with security cameras, security patrols, access to the elevators and the building only by remote control, and other such features. If this is the case in your condominium, make a point of letting potential buyers know, as these added features greatly enhance the property you are selling.

      Selling a Rental Property

      A rental property can be an attractive investment. Investors often make their buying decisions based on potential revenue, which means you will need to provide accurate information about rental rates. Rental rates fluctuate the same way property prices do, so providing solid information about rents to investors requires that you keep a close eye on local rates and trends.

      If you are not up to date on rental rates, you can suggest that a buyer obtain such information from a property manager or real estate agent with expertise in local rental properties.

      Selling an Older Home

      An older home is generally less expensive than a new home because the older home’s replacement cost — the cost of replacing it with a modern equivalent — is higher. Furthermore, gst does not apply to a resale home unless the house has been renovated substantially. In that case, the tax is applied as if the building were a new house.

      An additional advantage of resale homes is that they are usually situated in more established neighbourhoods. This means the landscaping has been done and there may be many trees and foliage. In a settled neighbourhood, you will know who your neighbours are, which can be a selling point for buyers.

      The main disadvantage of a resale home is that because it is an older building, maintenance costs will likely be higher than those for a new home. The plumbing and electrical systems may be outdated and may need to be repaired, replaced, or updated. You can engage a professional home inspector to check plumbing and electrical systems and also look for structural problems, such as a leaky basement or roof, and to estimate how much repairs will cost. Older homes that do not need repairs may require some redecoration, renovation, or upgrading

      You can either perform repairs, upgrading, and renovation yourself or adjust your price to reflect the condition of the home. If you are using a real estate agent, he or she will be able to determine how to price your home based on the upgrades that need to be done.