Posted 7.9.12 @ 9:25
The housing boom is on with real estate but this means nothing for you if you don’t know what buyers are looking for! Some are looking for an older home they can retrofit while others are looking for a modern masterpiece. Here we’re going go over just what buyers are looking for so you can market your home accordingly. If you’re looking for a way to sell your home, talk to us! Our experienced team of Oakville realtors will be able to help you find buyers for your home.
Brand New Homes
Half of people in the Greater Toronto Area polled last year said that they wanted new Oakville real estate for sale as opposed to “used” or older homes. About 25% said they wanted a new home only because they believe that everything is new, so it must be working (if only this were the case!), while another 25% said that they just wanted to live somewhere where they were the first and only tenants. This doesn’t necessarily mean that these people won’t want to buy your home, it’s just that they would prefer a brand new home as their first choice.
There is a segment of Oakville real estate buyers who want to buy older homes. They’re a little over 33% (a third) of the market. These people usually buy older homes because they’ve been tried and tested. They also are considered by most to have a good history; some buyers believe it’s bad luck to buy a brand new home. Most of us have “older homes” since even one tenant in there prior to the new buyer makes it old. You’ll want to stress the character of the home to appeal to a wider range of buyers.
Affordability and Price
These two things are actually pretty different when we boil down to it! Price is the money amount that something costs, there’s not much you can do about the price. But affordability, or value, of a home is one of the most important things that buyers will be looking for. The affordability and value of your Oakville real estate will be the deciding factor with most buyers, but the price will also be important. If they look at your home and just don’t feel it’s worth what you’re asking for, they’ll move on and find someone else’s home to look at.
What Other Features are Important?
There are other important features to look at like:
- Size: There was a trend for a while where Canadians were moving towards larger homes, but that’s starting to reverse. Smaller footprints mean smaller homes, with enough room to grow but not so much room that it becomes wasteful.
- Security: If you’re in a condo this will be easier to establish, but with houses you can get reports to show that the neighbourhood is safe.
- Location: Location is important, people want to be where they want to be.
When selling your Oakville real estate, never forget that you will need to think about what kind of house you have and who wants to buy it!