BC Assessment has released its annual property values report and it’s good news for Sunshine Coast residents. On The Coast, single-family detached homes increased by 25%, while condo property values saw an increase ranging from 10% to 25%. Some vacant land lots saw an increase of up to 35%.
According to the Coast Reporter, the total property values on the Sunshine Coast sit somewhere between $10.35 billion and $11.99 billion. BC Assessment indicates that Gibsons has seen the largest average increases in all property classes. Here, residential assessments are up 17.93 % on average. In Sechelt, residential home values increased by 17.44%.
When your property value increases, it’s only natural to start thinking about the potential of selling your home. If you’re thinking about selling in 2018, here are three ways to prepare for listing your property:
1. Start with your goals
When you first decide to sell your home, it’s easy to get swept up in the excitement of home improvements and getting the property listed. However, before you dive in, take some time to sit down and write out your goals for the home. Here are some questions I ask my clients when we first meet:
What are your reasons for selling?
What are your timelines for moving?
Is timing or pricing most important?
Do you anticipate any challenges with selling your home?
What we will do first: list and sell, or buy a new home?
If your upgrading to a more expensive home, are you pre-approved for your mortgage for your new purchase?
2. Create a home improvement plan
Even simple updates, like a fresh coat of paint and new appliances can make a huge difference in perceived home value. Small improvements like tightening door handles, fixing leaky faucets or replacing blinds, can be cheap and quick. Meanwhile, larger improvements like new kitchen cabinets, interior painting, exterior landscaping or even full on renovations will take more time and budget to accomplish.
Make an inventory of home updates that need to be made and prioritize them in order of what tasks will have the greatest impact on your home value. Create a budget and work-back schedule to keep yourself focused and on track.
3. Bring on the right partners
Start looking at the property as a business venture. Every successful business has the right people at the table, and your home listing is no exception. Finding the right real estate agent is part of the equation, but you may also need to source contractors and home staging experts to help showcase your home in the best possible light.
Review your goals and your home improvement plan and find experts who have an aligned vision and values. It’s so much easier when you are working with a great team.
For more steps on preparing your home, read my previous post, “How To Sell Your Home In 10 Easy Steps”.
Interested in selling your home in 2018? Contact me for a consultation!