Selling Your Home: Getting Started

Selling your home in the Greater Toronto Area.

Selling Your Home in Toronto

People choose to sell their homes for a variety of reasons, but every seller has one thing in common: the desire to get as much money as possible from their current residence and to do it as quickly and as smoothly as possible. Remember: If the home you are selling is your principal residence, you will not have to pay any capital gains tax on any profits from the sale. If, on the other hand, it is an investment property, prepare to pay some tax!

Before you begin the selling process and start looking for new homes, it’s important that you evaluate why you’re moving to begin with. Do you have too few rooms, or too many? Has your job moved to another city and you’re relocating? What can I afford? What’s my timeline for moving? How will my family be affected? A complete analysis of your current position and finances will set a good starting-point for your next home hunt.

Buy or Sell First?

A common question we receive: Should I buy or sell my place first? That’s a tricky question to answer. After all, if you find a buyer for your existing home before you’ve found a new one, you may find yourself living out of a suitcase at a friend’s place because convenient closing dates could not be negotiated. On the other hand, if you find your dream home before you’ve unloaded your old one, you may be faced with carrying two mortgages for a time.

So how should you manage a buy/sell situation like this? Simple. Do your homework and have a good idea about the neighbourhood and type of home you’re looking for. Decide what you absolutely need and what you can live without. Do an honest evaluation of your family’s needs and budget to establish what’s most important to you.

It’s a good idea to speak to your sales representative and start your new home search as soon as your existing home hits the market. Purchasing a new home before you sell could be a risky strategy if you’re counting on the proceeds from the sale. But remember, almost all terms, including closing dates, are negotiable.

Making Your House More Sellable

While we all believe that our home is our castle, our personal tastes may not appeal to everyone. Your sales representative will work with you to give you an impartial analysis of your home. They will consider things such as how your home relates to other “competing” homes on the market, how your home reflects current design and style trends and which features of your home are good selling points. Your sales representative will also take a good look at the general condition and upkeep of your dwelling and make recommendations if need be.

Overall, your sales representative will work with you to position your home on the market so that your home’s sale will take place as swiftly as possible and get you the best value for your home.

Take a look at the Home Improvement Tips page for more tips on how to make your home more sellable.

PROMOTING YOUR HOME

In the 21st century, consumers have access to a wealth of knowledge via the internet. Print ads have begun to make way for online advertising. Print ads target general consumers while online promotions target people looking to buy and sell. In fact, over 90% of buyers begin their house hunting online and often research prospective homes for longer than a year.

Being able to easily access your home’s listing via the internet is integral for a quick and painless sale. Make sure that your sales representative is advertising on a number of online real estate portals. These portals are the first place realtors go to find homes for their prospective buyers.

ARRANGING SHOWINGS

Your sales representative’s reception desk will work with you to arrange showing times for when buyers and their sales representative will tour your home. Be as flexible as possible in allowing appointments to take place. A potential buyer wants to come at dinner time or early on Sunday morning? No problem! Make the effort, this could be the one to make an offer.

Get a Free

Consultation

Name:*

Email:*

Subject:

Message:

Interested in buying or selling your home? Work with the West End team.