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How to increase the value of your home in Toronto or the GTA.

Posted by MAC Suites on October 2, 2023
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There are many different reasons why you may want to sell your home or property in Toronto or the Greater Toronto Area (GTA). You may be looking to upsize as your family grows or you want to cash in on a property investment. Whatever the reason, the common denominator for all sellers is that they want to get top dollar for their property!

Deciding what value you should list your home for can be tricky! Of course, you want the best price, but you also don’t want to discourage potential buyers with a listing price that is far above market value. This is where working with a realtor specializing in Toronto and the GTA real estate market will make all the difference. Not only will they be able to guide and support you as you navigate this new chapter, but they will be up to speed on the market trends, both in and out of the city, and will therefore be able to recommend an appropriate listing price that will encourage buyers to view your home and hopefully make an offer! Given the demand for property in Toronto in the GTA, there is a good chance there will be a bidding war – which is excellent news for sellers!

Your realtor won’t be the only one to help you get top dollar for your home. Although they will play an integral role, there are a number of things that you can do prior to listing your home that will increase the value of the property!

RENOVATE? MAYBE, MAYBE NOT.

Renovations may be the first thing homeowners think of when looking to increase the value of their home. Sometimes renovations do just that, but if you do not get it right, renovations could negatively impact the value of your home. Particularly when the real estate market in Toronto and the GTA can be fierce.

The main problem that could arise post renovation is that the style and design of the renovation might not be every buyer’s taste. If your property is in serious need of renovation, we recommend keeping the style and design relatively neutral so that buyers can visualize themselves living in the property with their own style and décor. Many buyers do not like the idea of carrying out further renovations when they buy a property, so keeping this in mind with any renovations you might be planning on will be key!

If you have an older property, we recommend getting it back up to spec with keeping as much of its original character as possible. If you have a newer property, you might want to make your renovations be a bit more modern, but simplicity and neutrals will be your best friend – being bold is great if you are going to be living in the home for a long time, but not if you are looking to sell for top dollar.

One renovation which can give you an edge in the current Toronto and GTA real estate market is to renovate your basement and giving your home more livable square footage! This renovation doesn’t have to be too complicated and can really be a simple project. A fresh coat of paint and new flooring can go a long way!

MAINTENANCE AND DECORATION

Maintaining and decorating your property is far cheaper than any renovations and could easily yield better results in terms of property value. The style and décor chosen should, once again, be neutral and not too bold. You want your home to appeal to as many potential buyers in the Toronto or GTA real estate market as possible. You certainly do not want a niche market.

Consider painting the walls in light colours to give a vibrant and fresh feel throughout the property. After the painting is complete, if you notice a scratch or any nicks in the paintwork, we recommend fixing it right away to maintain that clean and bright look!

If you have carpets in the house, make sure they are not stained and still looking fresh. If they are looking dull, consider replacing them with hardwood floors. Hard wood floors are very desirable for home buyers so even if your carpets are in excellent condition, it may be worth considering an upgrade.

Likewise, if your property has curtains that are beginnging to look a little old and outdates, this could be a simple and rather inexpensive fix. Ask yourself if the size, colour, and weight of your current curtains really work in their current room. If not, perhaps consider switching to a new pair or even upgrading to blinds.

Another thing to ask yourself is if the built-in appliances in your kitchen could use an upgrade. Old white appliances make a kitchen look outdated. Opting for stainless steel appliances could make your kitchen look more high-end and will give any kitchen a more polished and finished look. Consider appliances that are more energy efficient to reduce utility bills – something which many home buyers are now looking for!

When it comes to actually listing your property and buyers viewing your home, think carefully about staging and the type of furniture you are placing and where exactly you are placing it. Furniture that is too big and bulky will only make your home feel smaller than it is. Stick to sleek furniture and make sure there is nothing blocking the natural walkways in your home, Such furniture may not be practical for your home and your family, but during the listing process it will definitely be worth it!

Remember the more effort you put into your property now, the more money you will make when it comes to selling, and ultimately, the more money available for your next investment!

TEMPORARY ACCOMMODATION

If you have decided that your property is in desperate need of renovations or decoration and you want this carried out as soon as possible, you might find that your property is inhabitable for a period of time. You might want to consider moving in with family or friends, but this often is not very convenient if you have a family. To refrain from living on top of each other, it may be sensible to find a short-term rental.

If you’re considering a furnished rental while your property is under works, MAC Relocation Services are here to help! We are able to offer fully furnished residential suites and luxury apartments across Toronto and the GTA whilst you wait for your property to be renovated. If you are considering listing your property or would like to talk more about furnished suites and luxury apartments in Toronto or the GTA, please don’t hesitate to get in touch with one of our registered Toronto Real Estate agents and licensed Ontario Real Estate Association brokers at info@macsuites.ca or calling at 416-222-0025 / 1(877)-239-0025.

Not only are we able to provide furnished suites while your property undergoes renovations, we offer many other services:

  • Toronto and GTA Area Orientations – We will personally familiarize you with the city and neighbourhood.
  • Move Management (Global) – We arrange the mover, survey your home, take care of customs clearance, and all of the other details from origin to destination.
  • Destination/Settling in Services – We can help you organize things such as Social Insurance Number, Health Insurance, Driver’s License, Banking, Schools, Cars, Pets, etc.
  • Rental and Residential Re-Sale – As experts in rental and home purchasing in Toronto and the GTA, our licensed realtors can help you find your perfect new home.
  • Temporary Accommodations – We offer furnished suites and luxury furnished apartments whilst you wait for your permanent real estate accommodation.
  • Departure Services – We also help those leaving Canada through home sales, lease terminations, closing of utilities, etc.

If you are in need of any of the above services, please don’t hesitate to get in touch with someone on our team. All of our real estate agents and brokers are licensed with OREA (Ontario Real Estate Association) and TREB (Toronto Real Estate Board). We can assist in individual relocations, family relocations, and corporate relocations. For more information or to chat more about our services, please email info@macsuites.ca or give us a call at 416-222-0025 / 1(877)-239-0025.

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