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Whether you have parents considering downsizing their homes or you are thinking about it yourself, there is a lot to consider before making the transition. The boomer population is on the search for downsizing their living spaces. While most of these boomers have lived in their current homes for decades, the decision to downsize can be an emotional process of immense proportion. It takes a commitment and a team of support to undertake a big task such as this. For it’s not just a transaction for most seniors. It’s their HOME, a place where they have raised their families and grandchildren visit. It is the place they are most comfortable with, and the memories that fill those homes are irreplaceable.
Vivien Sharon, Real Estate Broker with Sotheby’s International Realty Canada, has recognized the immensity of this life transition. She has written a book, The Boomer’s 7-Stop Guide to Downsizing: Overcoming Fear & Discovering Freedom, to help boomers and older adults through this life transition. Vivien’s goal is to help seniors downsize in a positive and calm way while addressing emotional concerns and preparing and working through the fear of decluttering your home to prepare your house for sale. Vivien has been through this process herself and understands the concerns that arise throughout the process. She is here to support you personally and as a real estate professional.
Buying and selling a home, for most people, is the most significant financial transaction you will make in your life. This is not a transaction to take lightly, and Vivien encourages you to get top dollar for your home.
How to get top dollar when selling your home:
1. Pricing the house right
It is essential for first impressions because if the house is listed too high, it will sit on the market for too long and be considered a “stale listing” where the value diminishes by the length of time it’s been on the market. When this happens, the property will likely be sold for less.
2. Appearances matter
To get top dollar for your home, it’s great to sell it at the time of year where the house shows best. For example, if there’s a backyard swimming pool, it would be ideal for listing the house in the months when it would be open. Declutter your home, make small repairs and consider cosmetic upgrades.
3. See the home through the buyer’s eyes
That little creak in the stairway may not bother you, but the potential buyer will notice. That crazy purple accent wall that you never really liked, the potential buyer could hate. Try making changes to the house that would appeal to the masses without going overboard. It also makes sense to update paint and make repairs around the house, so it shows well.
4. Staging your home is often a good investment, but not always
Staging a house or condominium is the process of strategically arranging furnishings and decor to make a home look its best during the selling process. It’s possible for an investment of $3,000 in staging will reward you with a large return on investment.
5. Negotiating the offer
When working with a reputable realtor, he or she will help navigate you through the negotiations to ensure you are getting top dollar for your property. The realtor is trained to help you through the negotiation process and will ensure that the legal contract will fairly represent your needs.
And when all is said and done, don’t forget to think about closing costs and moving costs. Not only is it essential to get the best possible price for your home, but consider the costs of selling and moving as well.
It can be an exciting time in your life, but it can also be one of the most stressful times. Going into the experience prepared with a plan and working with the right realtor will help make the transition easier.