With the effects of the global economic downturn, the housing market has become an ideal market for home buyers. But if you're in the market to sell your home, you may be wondering what you can do to use the current economic condition to your advantage. Here are two ways for sellers to improve their situation in a down market.
Improve the sales value of your home.
No one wants to sell their home at a price that they don't feel is right. So, if you're not receiving and offer that you're comfortable with, use this time to make a few minor upgrades to help increase the sales value of your home. it's expected that buying activity may pick up again later this year. in the meantime, consider making improvements that you can showcase as an attractive selling feature. Buyer's are looking at kitchens, bathrooms, flooring as well as the major items in an older home, like the roof, furnace and windows.
2009 is the year of the reno! In the wake of the Home Renovation Tax Credit (HRTC) announced in the new federal budget, and for Canadians who may have been postponing their renovation projects, big or small, there is no better time to invest in their home and take advantage of the temporary tax credit.
Lastly, Jump on declining home prices.
Some sellers are concerned about selling their home at a lower price than planned. But if you're one of the many sellers looking to upgrade to a larger home, the market can present opportunities for you. Though you may be selling a smaller home at a lower price, you may also have the benefit of buying a larger home with a larger difference in the selling price.