Home Buyer Survey

There’s an entire home improvement industry that can help you figure out how to spruce up your house and how to prevent potential homeowner disasters. But we wanted to know which of those investments are worth the time an energy. That’s why, in the summer of 2017, CENTURY 21 Canada® surveyed more than 1000 agents for our Home Buying Trends Survey.  The results varied across provinces. Here are the top results for Newfoundland-- and advice for sellers to stay on trend with buyers.

Owning their own home is important to Newfoundland home buyers. In Newfoundland, 40% of people said having a place to call their own was the top reason for buying a home. As a seller, knowing this is a big advantage. Take the necessary steps to show that your home can easily become theirs by removing your personal items while adding welcoming touches such as fresh flowers.

The need to renovate is the biggest turn off for Newfoundland home buyers. In Newfoundland, home buyers are looking for homes that require minimal renovations. As a seller, be sure your home is looking well-maintained and up-to-date. Fix the little damages that you might have been ignoring and update fixtures to turn potential buyers into highest bidders.

Home buyers in Newfoundland consider layout and the potential for the value to increase very important. Buyers are looking for homes with open and functional layouts. If you’re selling in Newfoundland, consider taking the necessary steps to improve the flow of your home. This can be done through major renovations or simply hiring a professional stager. Either way, clearing out excess clutter from your home will speed up the sale.

Across Canada, home buyers want a newly renovated kitchen and updated finishings. If a seller is looking to update one room in the house they should focus on the kitchen. Updating the kitchen will attract more buyers and provide the most return on investment, around 70%. A general rule of thumb is to spend 6-10% of your home’s value on renovations to get fair returns. The Home Buying Trends Survey found that 67% of buyers are looking for updated finishings through the home. Updating a few finishings in each room has the potential to take your home from ‘asking price’ to ‘bidding war’.

Preparing your home to sell doesn’t have to be a stressful or lengthy process so long as you know what buyers are looking for in a home. According to the CENTURY 21 Canada® Home Buying Trends, Canadian buyers are looking for a home with a renovated kitchen and updated finishings. In Newfoundland specifically, buyers appreciate a newly renovated home with a great layout and the potential to increase in value. The biggest thing to remember is that investing a little time and money into preparing your home will attract more buyers and higher bids. 

Mark Fagan

Mark Fagan

CENTURY 21 Seller's Choice Inc.
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