Does your house seem too big or your neighbourhood too loud lately? If the thought of downsizing has occurred to you, then it’s time for a plan. The first step is to make your home as appealing as possible to the most likely buyer.
When preparing your home for sale, be sure to consider your audience. If you’re selling a detached home in Toronto, your buyer will most likely be a Millennial or Generation Z.
- Single professionals flocking to the Toronto area in search of excitement. They may have just landed their first high-paying job, have no kids, and have money to spend on a nice place.
- Young families with children in search of more space. Often with dual incomes, they want a modern and family-friendly house.
- Couples who don’t yet have children, but plan to. They want a place to enjoy life before children that will also accommodate any new additions to the family.
As you are well aware, we are in a fierce seller’s market where buyers have to compete with each other. In the past, young buyers have been very picky about what they want. Now, they can’t afford to be. So why bother updating or staging your house at all?
Your house will likely sell no matter what shape it’s in. The question is, how much will you get for it? Stats show that a properly staged home can increase your sale by up to 20%.
It’s well worth the time and modest investment to get your home in tiptop shape.
While you don’t want to sink a lot of money into remodelling, there are several low-cost ways to stage your home to appeal to young buyers.
Declutter
Get rid of everything you possibly can. Too many belongings can make your house appear cluttered and smaller, and some young buyers may think your style is outdated. Clear out old clothes, books, magazines, and essentially any decor items not nailed down.
Take the paintings off the wall and remove all knickknacks from your shelves.
If you have items you simply can’t part with, store them offsite or with a friend or relative.
Staging
When it comes to staging, think bright! Light colours naturally make any room more spacious. For furniture, avoid decorating with the latest trends and look for pieces with timeless style. The goal is to remove every trace of personality from the home.
It may seem strange, but this is one of the best-kept secrets of staging. Why does this work?
It’s impossible to style a house in a way that appeals to everyone. Even in young buyers, tastes will vary. Impersonal but beautiful staging allows your potential buyer to “decorate and colour” the home with their own imagination.
Now that you see the value of professional staging, here are some more resources to get you started:
- Five Home Staging Mistakes Sellers Should Avoid
- Our Top Boutiques for Beautiful Furniture and Decor
- Home Staging Services in Toronto
Upgrade
You don’t have to break the bank when upgrading your home to sell. Some repairs and remodelling are worth every penny and can add value to the sale. Upgrades that appeal particularly to younger people include:
Improve energy efficiency
Millennials and Gen Z are very concerned about the environment and climate change, and they also seek cost savings on their utilities. If your HVAC system is very old, it may be worth replacing. Thermal windows can be very appealing, but also expensive. Talk to an experienced agent before undergoing any costly repairs or upgrades.
Luckily, there are many low-cost ways to improve efficiency, including:
- Switching to LED bulbs
- Recaulking door and window frames
- Having ducts and vents cleaned
- Changing the air filters in your furnace
- And if you really want to impress a young buyer, install a smart thermostat!
Set up a Home Office
With more people working from home, an office can add tremendous appeal. An extra bedroom that doesn’t get used very often is perfect. A stylish yet functional desk and chair can do the trick, along with proper lighting.
Highlight Your location
What’s inside your house isn’t the only consideration. A significant part of a home’s value comes from its location. A good local agent will highlight all the parks, restaurants, and unique stores that are right around the corner.
Is there a skating rink within easy walking distance? You may have passed by many times without noticing. But to a buyer with a family, these close amenities are highly desirable.
Is your house a block away from a subway station? That’s another plus to a young family.
The time has come to start paying attention to the small details around your home. By looking at everything with fresh eyes, you’ll find dozens of ways to make your house appeal to a younger crowd.
Want to know more about how we make buyers fall in love with your home? You can read about our in-depth process here.