If you’ve been waiting for a sign – be it literally or figuratively – that it’s the right time to sell your home, this is it. Kelowna’s got a red hot market for those looking to sell, so if that sounds like you, now’s the time to get into the market.
Why is it a seller’s market?
Kelowna has a dearth of home listings right now, along with most of the Okanagan, meaning there’s very few houses up for sale. When supply is low, there is greater demand from buyers since their options are limited.
As a home seller, you can likely expect your listing to go pretty quickly, likely even with multiple offers.This is why it’s a seller’s market – you can name your price and expect to get it, and then some if you’re lucky. Getting yourself a qualified realtor will help you navigate the seller’s market.
Why sell your house?
There’s plenty of reasons for people to sell their homes. Some have families that have grown significantly since the original purchase and they need more room. Others find themselves with emptier nests and want to downsize, or maybe even move somewhere else.
Now is also an ideal time as interest rates are still pretty low. Whether you’re looking to up- or downsize, you want to get the lowest interest rate possible for your next purchase. It’s an ideal time if you’re a first-time seller, so don’t hesitate to reach out to your realtor.
What should I do to get my home ready to sell?
There are some basic things you can do to make your home even more appealing to buyers.
Stage the house
This is one of the most common things people do to get their house ready to sell. This usually includes a real deep clean and putting out some decorative items,so you can get those potential buyers to really picture themselves in the home.
Complete any renovations or upgrades
There’s also the opportunity to do any upgrades the house is in need of. Now, this can depend on how much you’re willing to spend vs. how much you’ll get back.
Normally, buyers might come back with an offer that wants the upgrades done before the purchase, or have the cost of the upgrades taken off the price. Being as it’s a seller’s market, you may not have to worry about that since people who want to buy don’t have as many options. So really, consider if you want to put in the time and money; your realtor can help you make that decision.
Are you ready to move?
Being in a seller’s market means the turnaround for real estate deals are much faster than in a buyer’s market. Many homes only spend a few weeks on the market, and in some cases a few days, which means you’ll need to be ready to move to your next home quickly.
Start packing things that aren’t necessities in your current home and get them to your new place if you’ve got it. If you don’t have a new place ready, make sure you’ve got a backup residence in case your home sells quickly. You may want to consider a short-term rental if buying looks like it will take some time. Make sure to speak to your realtor about buying a new home while trying to sell.
What’s the best way to get your home listed?
If you think you’re ready to get your house sold, then make sure you contact a qualified realtor. The Mayne Brothers have 40 years of combined experience as Kelowna realtors and they will gladly guide you on your home-selling journey.
They will help you set the best price for the market and handle all the back-and-forth with potential buyers. All you have to do is accept the offer that’s best for you.
Interested in selling your home? Contact the Mayne Brothers today!