Are you getting ready to sell? If so, you should be thinking about some of the key features that have popped to the top of buyers’ wish lists that you may not have been thinking about before.
There’s no question that the COVID-19 pandemic has shifted homebuyers’ priorities worldwide, and Toronto’s market is no exception. People have been cooped up in their homes for months, and they’re growing restless. Now more than ever, prospective homebuyers are ready to make a move.
The good news? Our local housing market appears to be weathering the storm. If you’ve been thinking about a move and are ready to sell, your home might be more appealing to buyers than you previously believed.
Here’s how today’s homebuyers are looking at features that used to be considered challenges.
Out-of-the-Way Location? Not a Deal Breaker
Before the lockdowns hit, buyers traditionally prioritized homes near work, schools, and other necessities (like groceries). In our COVID-influenced current reality, though, several factors have made it easier than ever to live where you want without suffering through a lengthy commute.
With many offices shifting to remote work, classrooms adapting to online learning, and home grocery delivery that’s easier than ever, buyers aren’t as tied to the downtown core as they once were.
If your home is a little further out of the way but offers room to spread out, it’s likely to attract the attention of Metro Toronto home buyers.
Old-Fashioned Floor Plan? More Room for Work
Once COVID hit, the limitations of a sleek and modern open-concept home became much more apparent. Now that we need to carve out room at home for work AND school, Zoom-friendly work areas and soundproof walls are starting to look a lot more appealing.
If you’re getting ready to sell, this change is excellent news for those in older homes with closed floor plans, since clearly defined spaces are now a hot commodity.
Bonus: If your home has a spare room or portion of the basement that can be turned into a gym, even better. With fitness centres still closed or at limited capacity and the change of seasons looming, indoor exercise is sure to become even more critical in the coming months.
Smaller Indoor Space? Not as Important as Your Outdoor Access
Toronto’s condo developers used to skimp on outdoor space since it was included in a home’s overall floor-space, and homebuyers often prioritized their interior living spaces. For decades, it just made sense to keep balconies smaller.
Over the past few months, though, we’ve learned that our yards and balconies are the safest places to get some fresh air. Many homebound Torontonians, especially in the early days of the pandemic, also developed a newfound love of gardening. In today’s market, if your slightly smaller home offers private outdoor access, it’s likely to be snapped up fast.
Getting Ready to Sell?
If it’s time for you to make a change, TRB can help you find the perfect buyers for your home. If you’ve got questions about buying or selling your home, get in touch today. We’d be happy to discuss how you can optimize your space to appeal to the biggest buyer pool to get you more money than you think is possible.