Knowing and applying some Courtenay homes best price selling tips will pay off for Comox Valley homes sellers. Every week I have the opportunity to view a significant number of the best Courtenay homes on the market. Some of the homes are prepared and presented properly to sell, and they show well. Others do not show well. There are a number of reasons for this, and I will discuss some of the potential Courtenay home improvements in this blog. Courtenay real estate is a primary economic driver in our market area so it is important to talk about these types of home.
Like many other people, when my wife and I purchased a Courtenay home, we did to make it our own. When we add our personal touches to our homes, these Courtenay home improvements often become an extension of ourselves and our personalities, and they provide us with a higher level of personal comfort. Personalization is fine provided that the home can be depersonalized when it comes time to sell.
Consider the following scenario. All of the homes in a specific Courtenay real estate neighborhood are 2-bedroom, 2-bathroom ranchers with 1400 to 1700 square feet of finished living space. One newly built home in that same neighborhood is a two-story Cape Code style home that is 4400 square feet. Will this home stand out like a sore thumb? What will happen when the home is placed on the market? Will mainstream buyers consider it? Will this Courtenay home hold the same value as it would if it was located in a neighborhood of similar homes?
Mainstream Courtenay home buyers often look at neighborhoods that are fairly homogeneous such as Crown Isle in East Courtenay. When they do, they may not even consider a comparable Comox Valley home that stands out markedly compared to the rest. While a seller of such a home may eventually find a buyer for this type of home, it may be more difficult to sell, take longer to do so, and the sale may not result in the best price.
What if you are planing to extensively renovate your existing home? Are you renovating in order to derive enjoyment from the new features or are you renovating in order to sell the home at an increased price? Unfortunately, not all home improvements are equal. The Appraisal Institute of Canada maintains statistics on the value of many different types of home improvements. These statistics show that the return on investment of some home improvements can approach 100% while other “improvements” can actually result in a loss.
Besides considering the reasons for the investment in home improvements, it is also worth considering the the subjective part of the improvement. For example, a Courtenay home owner is considering having their home painted and the kitchen re-done before selling it. The kitchen and master ensuite are two areas that are often the focus of home improvements in this situation. Done appropriately, they often result in a more “saleable” home and one that brings a better return on investment. However, just as is the case with the Cape Code home standing out like a sore thumb, home improvements can sometimes be over done. Consider a Courtenay home that is surrounded by other homes with moderately priced kitchens in them. Does it make sense to invest in high end improvements in this Courtenay home if the motivation is to sell the home? This is a difficult question to answer and one should be considered carefully before making such an investment. It is possible to “over improve” a home in some situations. When this happens, the return on investment can be not what is expected.
Personal taste also comes into play. If you love orange paint and you paint your house orange to sell, you may be disappointed by the response from potential buyers. Neutral colors are often a better choice if you want to appeal to main stream buyers. Personal taste is just that – personal. If your tastes are eclectic, your choices will be less appealing to buyers than if they were more mainstream. If your purpose is to sell, you may be more pleased with the results when you consider your choices from the eyes of potential buyers.
Conformity is also important when it comes to features. If most Crown Isle custom built homes in your Courtenay neighborhood have 3 to 4 bedrooms but your homes only has two, it may lose appeal in the eyes of many mainstream buyers. It is important, therefore, to know what the norm is in your neighborhood, especially if you are considering a major home improvement investment.
Consistency is another important consideration. Does your home flow well? By this I mean is it consistent in terms of its style and finish. If it is a mash up of all sorts of colors that do not belong to the same color group, or of different styles, its value in the eyes of buyers may suffer. For example, there is a white refrigerator in the kitchen right beside a stainless steel stove. When colors and styles do not go well together the impact is obvious to most people.
There is no need to contact a Courtenay realtor to discuss Courtenay homes for sale. If you are looking to sell a Courtenay property, Contact Brett Cairns of RE/MAX Ocean Pacific Realty.
by Brett Cairns