A spacious home can be incredibly appealing to potential buyers. No one wants to live in a space that seems cramped and cluttered.
Even if your house is relatively small, there are ways you can maximize the space you do have.
We reached out to our RE/MAX Influencers—a panel consisting of RE/MAX Sales Associates from throughout Canada—to find out their top tips for making your home seem more spacious to potential buyers.
Declutter and stage
Clearing countertops, removing knickknacks and getting rid of oversized furniture are key first steps to make your space appear as spacious as possible.
Several Influencers mentioned “less is more” when it comes to furniture and accessories. Your best bet is to leave only a few subtle, decorative items.
“Keep in mind that when showing your house, there could be four or five people wandering through at once. Make sure they can go from room to room without bumping into anything,” said a RE/MAX Influencer.
Hiring someone to stage your home will likely be a worthwhile investment. It may also be worth it to rent a storage space during the period when your house is being shown.
Brighten it up
Walls that have light colours and good lighting can go a long way toward making your home look more spacious. It’s also a good idea to have window coverings opened to allow as much natural light in as possible.
Eliminate mats and certain area rugs to help focus on floor area; remove large photos to help the space on the walls stand out.
“It’s simple: Clean, crisp colours, open spaces, open window coverings, brighter lightbulbs and less clutter will showcase the space within your house.”
Smaller furniture = larger room
Bulky pieces of furniture are often the culprit for making spaces appear smaller than they are. Depending on the layout, a large sectional couch may be better in the basement than in a main floor living space.
Arranging furniture in groupings, away from walls, can have the desired effect of making your room seem bigger. Also, if your dining table has leafs, remove them to maximize the space. Add crown molding to heighten the stature of the room.
“A great rule of thumb is: The more wall space and floor space that is visible, the better.”
August 2 2016, Victoria, BC
A total of 972 properties sold in the Victoria Real Estate Board region this July, an increase of 22 per cent compared to the 796 properties sold in July last year.
"Though we saw the seasonal slowdown that we expect this time of year, we had another record breaking month," says Mike Nugent, 2016 President of the Board. "The last time we saw a July this busy was in 2009 when 933 properties sold."
Inventory levels remain lower than last year, with 2,161 active listings for sale on the Victoria Real Estate Board Multiple Listing Service® at the end of July 2016, 45 per cent fewer than the 3,942 active listings at the end of July 2015.
"Late last week the provincial government approved new legislation that may affect the real estate market in our area, though at this time we can only guess how a foreign investor's tax in the Metro Vancouver region will impact sales here in Victoria," adds Nugent. "Recent data released by the government shows that nearly ten per cent of property transfers in Metro Vancouver involved foreign nationals. This is part of the rationale for applying a fifteen per cent tax on transactions only in Metro Vancouver at this time. Does this mean international demand will spill over into Victoria and other areas of BC? We won't know until we see the data.The Capital Regional District saw two per cent out of country buyers in the year of 2015. Although this is a small percentage of our buyers, anecdotally foreign buyers do tend to favour the same core neighbourhoods and therefore can have an impact on those areas."
The Multiple Listing Service® Home Price Index benchmark value for a single family home in the Victoria Core in July, 2015 was $599,800. The benchmark value for the same home in July 2016 has increased by 23.6 per cent to $741,100.
Find the Statistics Package as released to media here.
The full Stats Package will be posted on the website early afternoon.