Costly Consequences: Why Procrastinating on Home Maintenance Hurts.
Brushing off that dripping faucet or ignoring that hairline crack in the foundation might seem like small potatoes, but neglecting seemingly minor house maintenance can lead to a financial situation.
A leaky sewer line left unchecked can morph into a destructive torrent, flooding your basement and racking up thousands in repairs. Ignoring foundation cracks allows them to widen, jeopardizing the structural integrity of your home and potentially rendering it unsellable.
Even seemingly harmless issues like clogged gutters can lead to water damage and mold growth, posing health risks and attracting unwelcome critters. Remember, your insurance might not cover the consequences of preventable neglect, leaving you footing the bill for costly repairs or replacements.
Don’t let procrastination paint your future with costly consequences; proactive house maintenance is an investment in your home’s health, value, and peace of mind.
Selling a house can be stressful, especially if you’re an absentee owner. You may have to deal with a long-distance move, property management issues, and the stress of selling a property from afar. However, selling your house to investors like Ultimate Solutions may be the perfect answer for you. Call +1 587-570-8853 for a zero obligation cash offer.
With the right tips and guidance, you can sell your house quickly and efficiently, even if you’re not physically present in Calgary. In this article, we’ll provide you with seven tips for absentee owners who need to sell a house in Calgary.
1. Identify the right time to sell
Timing is everything when it comes to selling a house. The Canadian real estate market can be volatile, and the timing of your sale can impact your final sale price. The best time to sell a house in Calgary is typically in the spring or summer months when there are more potential buyers on the market.
However, it’s important to keep in mind that the market has changed from 2022 through 2024 significantly, so it’s important to consult with a local real estate expert to determine the best time to sell your property.
Also determining if you want to investing your time to find agents to sell the house vs selling it much faster with a home investing companies like Ultimate Solutions who buy in Calgary, Edmonton.
2. Find a reliable property manager.
If you’re an absentee owner, you’ll need to find a reliable property manager to help you oversee your property. A property manager can help you with tasks such as rent collection, property maintenance, and tenant management. Having a reliable property manager in Calgary can help you maintain the value of your property and ensure that your tenants are taken care of during the selling process.
However, with 14 years of real estate experience we have heard of tenants failing to report leaks, especially hidden ones like sewer issues, property management companies can act as a safeguard to prevent costly damage.
Firstly, regular inspections conducted by the company can uncover hidden leaks before they escalate. Trained professionals know what to look for, from visible water stains to unusual odors, catching problems early on.
Secondly, proactive maintenance goes hand-in-hand with inspections. By scheduling routine drain cleanings and gutter checks, potential blockages or cracks can be identified and addressed before they lead to leaks.
Thirdly, clear communication protocols between tenants and the property management company are crucial. Tenants should be incentivized to report any concerns, leaks included, with prompt responses and timely repairs being the reward.
Finally, tenant education empowers residents to recognize potential problems. Simple guides on spotting leaks, understanding plumbing basics, and knowing how to properly maintain fixtures can go a long way in preventing neglect. By implementing these strategies, property management companies can act as a vigilant and proactive force, mitigating the risks associated with unreported leaks and safeguarding the property’s value and habitability.
3. Price your property correctly
Pricing your property correctly is essential if you want to sell quickly and for the best possible price. Pricing too high can lead to your property sitting on the market for too long, while pricing too low can cause you to lose out on potential profits. A local real estate expert can help you determine the best price for your property based on the current market conditions and other factors such as location, condition, and amenities.
Selling a house by agent with marred by damage, like poor condition or neglected basement repairs, pricing accuracy becomes a tightrope walk between attracting buyers and leaving money on the table.
Setting the price too high for a “fixer home” or a home in rough shape risks scaring away your potential buyers. Leaving the property languishing on the market and accruing additional carrying costs. Conversely, underpricing a fixer home might attract some professional investors but leave you feeling shortchanged, particularly if you’ve factored in the cost of necessary repairs like basement fixes.
Finding the sweet spot requires a delicate balance:
- Market research is paramount. Analyze recent sales of damaged or fixer upper homes would help sellers rather than pitching a price than would be higher than homes in good condition today on the market. This provides a baseline understanding of value, adjusted for the extent of your home’s damage.
- Transparency is key. Disclose all known issues upfront, providing detailed descriptions and estimates for necessary repairs like basement fixes. This fosters trust with potential buyers and avoids surprises down the line or at the closing table.
- Consider the buyer pool. Are you targeting investors who specialize in fixer-uppers, or DIY enthusiasts looking for a project? Understanding your target audience helps tailor the pricing strategy and presentation accordingly.
- Seek professional guidance. A qualified real estate agent experienced with selling damaged properties can offer invaluable insights into market trends, pricing strategies, and effective marketing approaches.
Ultimately, by carefully considering these factors and striking the right balance between market forces and the reality of your home’s condition, you can ensure a smooth and successful sale, even amidst the challenges of a fixer-upper or damaged property.
4. Consider selling directly to a home buying company
If you’re an absentee owner, selling your property directly to a home buying company like Ultimate Solutions can be a convenient and stress-free option. Home buying companies can purchase your property quickly and efficiently, without the need for showings, repairs, or negotiations. This can be especially beneficial if you need to sell your property quickly or if you’re not physically present in Calgary, Edmonton.
When faced with a house in need of repairs before selling, the critical question becomes: Do you fix it up yourself and invest time, or sell it “as-is” and potentially sacrifice sale price?
Time plays a pivotal role: If a quick sale is paramount, selling as-is might be tempting. However, be prepared for a lower selling price as buyers factor in repair costs. Conversely, tackling repairs yourself can lead to a higher selling price but requires significant time investment and potential unforeseen costs. Dealing with traditional trades, from plumbers to electricians, can be time-consuming, and navigating different schedules adds to the burden.
5. Make necessary repairs and upgrades
Making necessary repairs and upgrades can help increase the value of your property and make it more attractive to potential buyers. This can include tasks such as fixing leaky faucets, updating appliances, and repainting walls. However, it’s important to keep in mind that you don’t need to do a full-scale renovation. Focus on making small updates that can have a big impact on the overall look and feel of your property.
The golden tip? Avoid trades with wildly optimistic estimates. While tempting, lowball estimates often mask hidden issues, leading to cost overruns and jeopardizing the final sale price. Opt for transparent trades with realistic estimates to avoid unpleasant surprises during repairs and maintain your desired selling price.
Ultimately, the best choice depends on your individual circumstances and priorities. If time is of the essence, selling as-is might be the right answer, even with a lower price tag. But if maximizing profit is your goal and you have the time, tackling repairs yourself could reap greater rewards. Just remember to factor in realistic repair costs and avoid overly optimistic estimates to ensure a smooth and successful sale.
Ultimate Solutions would like to help you in your situation by giving you an offer on your home within 24 hours. Contact us today to learn more about how we can help simplify the home-selling process. +1 587-570-8853
6. Stage your property for potential buyers
Staging your property can help potential buyers envision themselves living in the space and can make your property more attractive to potential buyers. This can include tasks such as decluttering, rearranging furniture, and adding decorative touches such as plants or artwork. If you’re not physically present in Calgary, consider hiring a professional staging company to help you prepare your property for showings.
7. Work with a Calgary real estate expert
Working with a local real estate expert can help you navigate the selling process and ensure that you get the best possible price for your property. A local real estate expert can provide you with guidance on pricing, marketing, and negotiations, and can help you navigate any legal or logistical issues that may arise during the selling process.
It is always wise to work with home investing companies in Ontario and British Columbia who have a representative in Edmonton because they have the financial capacity to buy in Calgary VS local investors who only buy locally.
Selling a property as an absentee owner can be challenging, but it doesn’t have to be stressful. By following these seven tips, you can sell your property quickly and efficiently, even if you’re not physically present in Calgary. And if you’re looking for a stress-free and convenient way to sell your property, consider selling directly to Ultimate Solutions. We specialize in buying homes directly from homeowners, which means you can avoid the hassle of working with a realtor. Contact us today to learn more about how we can help simplify the home-selling process. +1 587-570-8853
