11.14.22 | Selling

Need to Sell Your House in Peterborough? Here’s What Buyers Are Looking For

When you mention the possibility of selling your home, you’ll undoubtedly hear plenty of advice from well-meaning acquaintances and strangers alike. Some will tell you to wait until the market picks up. Others will urge you to hurry before housing values plummet. And that’s just the tip of the iceberg. 

You’ll also get advice on how much your house may be worth and how you can negotiate with potential buyers. Much of what you hear will be contradictory, and it can get make an already complex process seem even more confusing.

The truth is it is always a good time to sell as long as you sell and buy in the same market conditions. And in Peterborough, you can rest assured that your home will be in demand whenever you decide to list. People are moving here from all over the GTA in search of a more peaceful and affordable lifestyle.

The key to a successful sale is knowing what these buyers are looking for and showcasing your home accordingly.

Family Oriented Communities

Though Peterborough attracts people from all walks of life, it’s particularly appealing to families. The thought of getting a four-bedroom house with a backyard for less than a one-bedroom condo in Toronto never gets old. And the incredible amenities and never ending list of fun things to do only add to the appeal. It’s not just the features of your home that make your property irresistible. Think about what’s in the area.

Before listing your home, you should get to know everything in your neighbourhood that families will love. Local real estate agents make a point of knowing their city well. However, at the end of the day, no one knows your area like you do. 

For example, are you within walking distance of a fantastic park? Is there an epic cycling trail around the corner? What about nearby amenities like schools and recreational facilities?

Families buy into the neighbourhood just as much–and sometimes even more–than the house itself. Knowing the community just might be your ticket to a fast, successful sale.

Do you want to know more about what makes Peterborough so great for families? Check out some of our community posts below:

Return on Investment

Everyone wants to be sure that their house will appreciate in value after their purchase. This puts you at an advantage, because the numbers show that Peterborough real estate is an excellent investment. Even though prices are far more affordable than in the bigger cities, they are rising quickly. Owning a home here means your buyer’s equity will grow every time they make a payment and every year as the house increases in value.

If you can make a buyer see the investment potential, they will often overlook minor flaws in your home. It makes for an easier sale on your part with no loss in value.

A Spacious, Open-Concept Design

Every buyer has different ideas about what they want, but modern, open-concept designs are trending more than ever. If your home is an older style, don’t despair. There are ways to compete with newer houses, even without knocking down walls. How? 

Start by understanding the reasons people love the idea of open layouts. A lot of it comes down to having more natural light and making the rooms feel more spacious. Both of these effects can be accomplished by minor updates. 

Simply rearranging the furniture in a way that allows for maximum light and freedom of movement can change the feel of the room.

Maximizing the light in the house will also add to the transformation without costing a lot of money. Consider replacing any dark-coloured drapes with sheers, and you’ll see for yourself what a difference natural light can make.

You can never go wrong with a fresh coat of light or neutral-coloured paint. This small investment in time and money nearly always pays off in spades when it’s time to sell!

If you want to take it a step further, consider removing a section of the wall. It’s much less involved than tearing down a wall entirely and will go a long way to creating a more open-concept feel to the home. Young parents will especially appreciate this feature as they will be able to keep an eye on their little ones.

Appeal to Young Buyers

A recent survey by Royal LePage shows that over 50% of Millennials intend to buy a home within the next five years. Generation Z is not far behind, with one in three young adults planning to buy as soon as they can save for their down payment. 

The writing is on the wall, and savvy homeowners are doing everything possible to make their properties more appealing to these young buyers. Here are a few ideas that won’t take long to implement.

  • Add smart technology. A few hundred dollars invested in your home now can add thousands to your bottom line when selling. Young buyers love technology, and smart thermostats, door locks, and appliances are becoming more popular every day.
  • Upgrade to energy-efficient HVAC. Young buyers are budget conscious, but they will often be willing to pay more for a home that will save money in the long run. They can also be extremely environmentally conscious. Upgrades to high-efficiency heating and cooling can help you appeal to both the cost and environmental factors.
  • Make your home move-in ready. Low maintenance is the key to appealing to the younger generations. They rarely have the skills, time, or budget to invest in a fixer-upper. A move-in ready home has instant value for any demographic, but especially for young buyers. 

Do you want even more advice to help you enjoy a successful sale? Here are some other posts that can help:

Don’t Forget the Outside

The expression “don’t judge a book by its cover” may be sound advice, but very few people follow it. Your home could be solid from top to bottom, but if the lawn is unkept or there’s debris lying around, it can turn a buyer away in an instant. Your home doesn’t have to look like something out of a magazine, but you do want to make a positive first impression on visitors the minute your home comes into view. 

A few simple details can draw the eye of your potential buyer.

  • Mow the lawn regularly and pull out weeds in spring and summer.
  • In the winter, be sure all walkways and driveways are clear and salted if necessary.
  • Keep all tools, gardening supplies, and garbage bins tucked out of sight in the garage or shed.
  • Clean the outside of the windows, especially in the front yard.
  • Sweep the front porch.
  • A few tasteful outdoor decor pieces can add the final touch!

Every listing is unique, and everyone has different goals when selling a home. That’s why we always strive to provide a completely customized approach for all clients. If you want to know more about our process, download our Seller’s Guide for free right here.