What is a seller’s market?

If there’s a seller’s market in your area, now would be a great time to sell your property. Why? Seller’s market happens when demand exceeds supply. In translation, multiple buyers are bidding for the same property. You will receive multiple offers which could drive up the sales price. If you’re a buyer, this can be a tricky terrain. The key is to act fast and make a higher offer to avoid being outbid by your competitors. 

What is a buyer’s market?

Buyer’s markets favor those looking to buy a home, rather than those who are looking to sell. Buyer’s market happens when the number of available properties for sale is greater than the number of buyers seeking to purchase a property. If you’re looking to buy a home, this would be the ideal time to make a move. You would be able to buy a beautiful home at a lower price. If you’re a seller, your home might stay on the market longer than average. You might also have to lower your price in order to secure a buyer. 

What upgrades add value when selling your home? 

There are several ways to add value to your property and attract multiple offers. Placing a sign in front of your home will simply not suffice. A great strategy would be to fix any major structural problems before moving to the cosmetic improvements and renovations. Issues like a leaking roof or a collapsed floor should be taken care of first as they can put many buyers off. The next step is to beautify your home and add a touch of novelty and appeal. You may want to improve existing accommodation, give the kitchen a makeover, and renovate existing bathrooms. Don’t forget to clean up the garden as this can add a great deal of value to a property and make it more sellable.

I’m interested in an investment property, where do I start? 

Making a real estate investment is always a great idea whether you’re a first-time or an experienced buyer. The best investors always do their due diligence before taking the plunge. First and foremost aspect you must consider is your budget. Your budget will dictate the size of the property, type of property, and its location. If you wish to ensure success, ask Johal Real Estate Group for assistance and we will steer you in the right direction.