Homes in Kingston are a hot commodity.
The overall MLS® HPI composite benchmark price for homes sold was $622,200 in February 2022, which was an increase of over 30% from the same time in 2021. These numbers indicate that homes in Kingston are growing in value at a rapid pace, a testament to the allure of the city and the opportunities that come with living in Kingston.
As more millennials leave the GTA for larger and more affordable homes, homes in Kingston and the surrounding communities have experienced significant growth over the past year. Just like Kingston, Waterdown homes grew in value by about 30% in 2022 compared to 2021. Meanwhile, homes in Belleville increased in value by an average of 26.7% according to the Canadian Real Estate Association, while Picton’s housing market achieved a whopping 111.1% yearly growth in home values.
Homeowners who wish to sell their homes fast in Kingston have a high chance of doing so if they act fast, which is why some homeowners prefer looking for cash buyers.
In this article, you will learn:
- How to sell your home fast in Kingston
- How to get the most value for your home
- Your selling options
- How to Sell Your Home Fast in Kingston Ontario
Hire a Realtor
Real estate agents know the market and can help you sell your home with minimal involvement from you. The realtor will list your house, condo, or second home on MLS and other relevant platforms and ensure that people are viewing your home. They will take calls and host open houses, and when someone makes an offer, they will negotiate on your behalf.
When it’s time to close the deal, the real estate agent will handle the paperwork and all you’ll need to do is to sign. The great thing about realtors is you can easily find them. If you live in Novelis or Queen’s, for example, you just need to look online for realtors in that neighbourhood and select one with good client testimonials.
Find a Cash Buyer in Kingston
While realtors are great, they charge 3% to 7% of the sale, which is a lot of money that many homeowners would rather save, especially if cash is tight. Another option you could go with is cash home buyers, which can be companies or individuals that purchase homes to resell or rent them.
Cash buyers can help you sell your home faster than even realtors since the process doesn’t involve any bank approvals. When you get a cash offer, you won’t pay a commission since you can negotiate with them directly without a realtor’s help. The cash buyer will send an expert to appraise your house or condo, the next day, you will get an offer.
Are These My Only Selling Options?
You could also try to sell your home as an owner (FSBO), but chances are, it won’t be as fast an approach as hiring a realtor or finding cash offers. For sale by owner means you do the legwork and market your home, take interested buyers’ calls and show them around, and negotiate the offers yourself. This usually takes more time than if you had a realtor doing things for you, especially if you’re trying to balance selling your home and going to work every morning.
The good news is, with FSBO, you don’t need a real estate agent so you save the commission money. However, this solution is not ideal for homeowners who want to sell their houses or condos quickly because it all comes down to your efforts. The more time and energy you dedicate to selling your home, the faster you could sell it. If you don’t have that much time to spare, it could be listed for months.
How to Get the Most Value for Your Home
Make Necessary Repairs
Whether it’s a house or a condo, buyers always look for faults around the place before they make an offer. Most will send an inspector to confirm that the property is in good shape, and if that inspection reveals something, it could derail the sale.
Get ahead of that scenario and make any necessary repairs that your home needs and give it a fresh coat of paint. These minor repairs won’t cost you much but they could help you get more money for your home.
Clean the Place
Get rid of personal belongings and any items that don’t need to be around the home when buyers come for a visit. The less cluttered your home is, the bigger and more inviting it looks. You should also hire a professional cleaning service to clean your house thoroughly so it could be spotless during buyer visits.
Upload Quality Photos
Most people will view photos of your house or condo before they come to view it, which is why you need to stage your home before listing it. Make sure your curb appeal is impeccable because it’s the first thing buyers notice and it might even cause them to lose interest before seeing the interior.
With your house cleaned, your lawn trimmed, and the front door and porch painted, you next need to hire a professional photographer to take high-quality photos of the property. If you upload phone-quality photos of your home, they won’t look good and chances are, many people will skip your property when they’re browsing for homes online.
Factors to Keep in Mind before Listing Your Home
What Condition Does My House Need to Be In?
That depends on how you plan on selling it.
If you’re looking for offers from ordinary buyers, you will most likely have to do the things we discussed, from cleaning the house to making the necessary repairs. If, however, you find a cash home buyer in your area, you don’t have to do that. They will purchase homes ‘as-is’ no matter what condition they’re in. This is a great option for homeowners who want to sell their homes as soon as possible since they don’t need to clear or repair anything, even if the property is in a state of disrepair.
How Soon Do You Want to Move Out?
While ordinary buyers can pay more, they will also need you to move out by the closing date. Once you agree on a sale and sign the contract, you’re on a deadline to pack your things and leave your home so the new owner could move in.
With cash home buyers, this isn’t the case. They often offer a ‘sell and rent back’ option that allows you to get paid for your home and continue to live there as a tenant. This is an ideal solution for homeowners who wish to sell their houses or condos fast but are not yet ready to move out.
Does My Location Matter?
The location makes a difference with your choice of selling strategy.
If you have a second home or a lakeside house in smaller towns and villages like Portsmouth or Barriefield, trying to find an ordinary buyer will most likely take a long time. These locations don’t have a hot housing market and demand for houses and second homes there may not be high. In this case, cash buyers are the quickest option. You just need to reach out to one and they’ll make you an offer to get your second home sold fast, even if it’s in a suburb or a small village.
You should consider all your options when you want to sell your house in Kingston.
If time is of the essence, cash buyers are the fastest option available in Ontario, which is why many homeowners work with them when they need to quickly relocate, separate assets, or settle debts. If you want to learn more about cash home buyers in Kingston and how you could sell your home fast, call Mortgage Broker Store at 416-499-2122 or check their website here.