If anything needs to be fixed up - big job or small — get it done before you list it.
According to the 2011 TD Canada Trust Home Buyers Report, Albertans are more likely to buy a home that doesn’t need any work done.
In fact, 70% of home buyers in the province want a home with no fixing-up required and they are two times more likely than the national average to say they are willing to pay the extra money for a newly constructed home (39% vs. 22%).
But there’s still a bit of macho out there — on the national level, 14% of men considering buying a house say they would be more likely to buy a fixer-upper, compared to 8% of female buyers, with the guys saying it’s their preference because it would be more affordable.
Which, as most men know, holds little water with the ladies.
Affordability is, however, the most important consideration in the home-buying process in the province, says Jessy Bilodeau, a mobile mortgage specialist with TD Canada Trust.
“Albertans wisely say that cost is the number one consideration for a home purchase, evidence that they realize that in order to truly be comfortable in their home, they need to comfortably be able to afford it,” says Bilodeau.
“When house-hunting, there are some factors, like the features of the home, which can be adjusted once you’ve made your purchase. Other factors, like the location, cannot be changed. Finding the right home is about getting the right balance — and at a price you can afford.”
Albertans enjoy a large selection of homes.
“The boom in the development industry over the last few years in Alberta has created a larger market of new homes for buyers with more options to choose from,” says Bilodeau.
“There are still some fixer-uppers out there and if you’re willing to do the renovations or upgrades, you can transform the space into your dream home. If you decide to go the renovation route, it’s important to understand the costs of the upgrades you intend to make and factor those in when deciding on the price range for a home that is realistic for you.”