The real estate market in Toronto is highly competitive. That means the cost of entry tends to be high. But it also means that the values here tend to be stable and rising. We strongly encourage people entering the market here to be mindful of their full economic capabilities, and to consider the range of costs of living here. Because there’s more to it than mortgage payments.
5 Factors of Pricing
The first view of your property is from the curb. If your house presents an unappealing exterior, consider doing some work.This includes both the details of the house itself and the context of its landscaping and gardening. Also, the value of your property can at least in part depend on your neighbours. If adjacent houses look run-down, your house value can suffer.
Newer is Nicer.
Newer is Nicer. Potential buyers will be interested in the renovations you have completed, and how recently the improvements have been made. More costly improvements, like replacing the roof, will increase your property value, as potential buyers will know that they will not have to pay for these expensive repairs any time in the near future.
Cleaner is Better.
Cleaner is Better. The overall cleanliness of your house can attract or detract buyers. As well, undesirable odours drive value down. One of the first impressions people get from a house is its smell. If they smell cigarette smoke or pets odour, it will decrease your property value. A professional cleaning team can take care of the dirt and dust and drive smells out of carpets and fabric throughout your house.
When it comes to house shopping, buyers notice the age of your appliances. To them, an old dishwasher is a post sale expense that drives down their perceived valuation of your home. The “Oh look, a new dishwasher!” factor can add to the impressions that drive the selling price up well beyond the cost of the appliance itself.
Size and Space.
Most buyers want spacious houses with large, open rooms. Although you can’t do anything about your room size, you do need to take this factor into account when evaluating the merits of your property. This is an area where decluttering and minimizing the footprint of your furniture will come into play.