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Old 2014-05-15, 11:39 AM
buildmyhome buildmyhome is offline
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Default value of a house

Our neighbors and us have the exactly same model, except for a few differences listed below:

1) We have granite in the kitchen and they don't
2) We have a 3ft pantry in the kitchen and they dont't
3) Our hardwood is professionally installed and brand new and theirs is older, not installed professionally, so has a lot of gaps and also lots of scratches.
4) Ours is pet free and smoke free, but they have a dog and I know that he smokes too.

I have a feeling that both our houses will go on for sale around the same time next year. I know its not good for the competition and we both are going to try and avoid selling at the same time, but just in case we both end up being in the market at the same time, will we be able to command a bit higher price than them because of the above mentioned differences or will the price for both the houses be the same?
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Old 2014-05-15, 11:52 AM
London2Ottawa London2Ottawa is offline
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I dunno, having a dog that smokes is a pretty cool party trick that may bring viewers in.

Kidding aside, yes it should help but staging and bathrooms, etc matter too.
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Old 2014-05-15, 11:59 AM
buildmyhome buildmyhome is offline
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sorry! I meant my neighbor smokes...

Also, We have the exact same looking bathrooms
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Old 2014-05-15, 12:03 PM
jeffjc jeffjc is offline
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you might be able to ask a little bit more but who knows, its hard to say without pictures and really knowing what's what.
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Old 2014-05-15, 12:06 PM
nessiesens nessiesens is offline
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Quote:
Originally Posted by London2Ottawa View Post
I dunno, having a dog that smokes is a pretty cool party trick that may bring viewers in.

Kidding aside, yes it should help but staging and bathrooms, etc matter too.
I always wanted a cool smoking dog, even cooler if the dog wears sunglasses and gives you an "I don't give an eff" look!

I think stagging can play a big part in the sale of a house, but I've found myself that sometimes whether you list at same time or not and sometimes have similiar/different features, if one house on your street sells at a lower price because they needed to get out quickly that really can also impact anyone's sale, regardless of features.

Sadly, even though you might know you have more in your house than another, the buyer doesn't seem to care to compare that (nor does their agent get that point across I find). Too many times my house was really low balled because they compared it to an interior unit with no upgrades and not properly shown/staged. Whereas I had nicer upgrades, end unit with no access and bigger yard, didn't make a difference.

Obviously I'm sure you do your research and if you use realtor you can get an idea of what similiars have sold for and make a decision! Hope it goes well when you sell and get the price you want (or close to it!)
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Old 2014-05-15, 12:54 PM
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good2know good2know is offline
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In our experiences people are willing to pay extra for features and deluxe condition. In this market with lots for sale buyers can be fussy so at a minimum yours should sell fastest. Get all the info you can regarding selling prices for similar house, features, and area and set your price accordingly.

Having competition is good for you - when you have the best on the market, it sells itself.

Every house we have ever sold set a new price standard and for a higher selling price than agents suggested. My daughter was selling a kanata lakes town on grapevine. An annoying agent - thats redundant i think - called her and told her price was was too high and she would never sell it herself. Sold for full asking the next day to a buyer from montreal.
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Old 2014-05-15, 09:03 PM
WellThatsLovely WellThatsLovely is offline
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My family is the neighbors you described lol (minus the smoking)... the kids and pets are built into the calculation and I automatically assume that our house will go for less than the shiny, pristine version of it nextdoor will... However, we also have our own separate market of buyers. I know people either not yet at the dog/kid point in their lives, or past it would not be caught dead in our home with scuffed floors and the kid/dog people know not to bother paying extra for floors they'll just destroy anyway, so the professional installation means nothing to them.
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Old 2014-05-15, 10:14 PM
The Eagle The Eagle is offline
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Just get a good realtor to come in and give you a free home evaluation. Unless you have access to recently sold homes in the area you won't know if your neighbor is at market value, under priced or over priced. The agent should also factor in lot sizes (if not the same) and few other things that may make a difference to potential buyers. In short, your home should command a higher price if the buyer does not want to do the upgrades you mentioned after purchase. It doesn't mean your house will sell faster though since someone may prefer paying a little less for your neighbor's house and then having granite they like installed post possession. Some people will pay more to have a turn key home and some will prefer to pay less and add sweat equity like refinishing the hardwood.
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Old 2014-05-15, 11:18 PM
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good2know good2know is offline
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Would like your thoughts on what makes a good realtor and how someone finds them and selects one. One change to above imo is to get three or more realtor opinions.
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Old 2014-05-16, 09:54 AM
The Eagle The Eagle is offline
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Would like your thoughts on what makes a good realtor and how someone finds them and selects one. One change to above imo is to get three or more realtor opinions.
Agreed, I had meant to write get around 3 home evaluation since they're free, they should all be in the same range so beware of ones that are really high (agent trying to potentially sell you a dream price) and ones that are really low. Be sure to ask them how they got to that price, don't just accept the # they give you, it should be backed up with information

As for finding a good realtor, it is very much like a good mechanic, doctor, etc...You can ask friends if they have used an agent and if they would recommend them...When visiting open houses you can get a feeling for them and get a glimpse of their personality, don't be afraid to ask them questions at that time about how they deal with new clients. Did they meet you at the door, introduced themselves when you walked in or were they just sitting in the kitchen using their phone? In my opinion little things like that matter
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