Nestled to the south of Burlington, the City of Hamilton is becoming one of the most highly sought-after areas for those relocating from the GTA. Relatively affordable housing prices and a thriving arts and entertainment scene are helping to drive this new trend. 

In addition, Hamilton’s location between the gorgeous Niagara Escarpment and the shores of Lake Ontario also provides some of the most spectacular scenery in the province. There’s no doubt that Hamilton has been underrated in the past, but it’s quickly becoming more popular as time goes on. In this post, we’ll detail what that means for you should you decide to sell your Hamilton home.

Hamilton Real Estate Values Are Rising

Hamilton has long been considered a less expensive alternative to Burlington, Oakville or Toronto. To this day, there is a significant difference between the average price of a house here versus anywhere in the GTA. However, increased demand and a growing reputation as a great place to live mean that gap is quickly narrowing. 

All of this is fantastic news if you’re a longtime homeowner in Hamilton. Your property has undoubtedly grown in value, which also increases your equity and purchasing power. That said, housing values elsewhere are also rising. You’ll need to make the absolute most of your sale to empower your next move.

Are you looking for more tips to streamline your sale? The posts below are a one-stop resource:

• 8 Important Things to Remember When Selling Your Home
• Why Home Sellers Need to Think More Like Buyers
• Why Did My Neighbour’s House Sell but Mine Didn’t?

Mirroring the GTA

Real estate patterns in Hamilton largely match what happens in the GTA. If housing sales are sluggish in Toronto, Hamilton will more or less follow suit. If the GTA goes into a fast and furious seller’s market, houses here will also be in high demand.

The first step to a successful sale is determining what is happening in the market at large as well as in the smaller niche neighbourhoods where your home is located. Understanding current conditions will help you decide how far to go with any upgrades and where to set your initial listing price. The primary market conditions are as follows:

• A seller’s market: This means seller’s have the advantage because there are more buyers than available listings. It’s a great position to be in when you want to sell your home. 
• A buyer’s market: There are too many listings and not enough buyers, which can cause real estate values to drop temporarily. In addition, houses typically take longer to sell. All is not lost, however. Selling in these conditions may be frustrating, but you will soon re-enter the market as a buyer!
• A balanced market: Sellers and buyers are on relatively equal footing. As a seller, you likely have some competition in your neighbourhood, but there are also sufficient numbers of people looking for a new home. All in all, this is also a good position to be in. 

Preparing Your Home for the Market

Whether the market is balanced or leans in favour of buyers or sellers, one thing will never change. You always want your home to make an outstanding first impression. 

1. In a seller’s market, beautiful presentation can help you sell for top dollar
2. In a buyer’s market, meticulous preparation can mean the difference between selling at all or remaining on the market. 

Some homeowners like to go all out with extensive repairs and renovations before bringing their house to market. Others are completely overwhelmed by the idea. The ideal amount of preparation typically falls somewhere in between those two extremes. If you have maintained your home well throughout the years, you may not need to do as much to capture interest from buyers. 

Our advice will vary depending on the condition and age of the property, but there are some upgrades that always work to help your listing stand out.

• Start by cleaning, decluttering and organizing your home from top to bottom. If you do nothing else, a sparkling presentation will help you sell faster and often for more money.
• A little known tip is to highlight your storage space. Keeping closets clean and only half full will help to make them seem bigger and more spacious.
• Make a list of any minor repairs that will enhance the appearance of your home. At the very least, a coat of fresh paint can breathe new life into a room. New fixtures may also be in order, as well as filling in any nail holes on the walls.
• Clean up the yard to enhance the curb appeal of your home. More than ever, buyers place a high value on luxurious outdoor spaces. Adding cozy patio furniture and maybe even a gazebo will help trigger their imagination.

Strategic preparations will help you save time and money while maximizing the sale of your Hamilton home. Learn more in the posts below:

• The Power of Staging When Selling Your Home
• Minor Upgrades, Maximum Results
• Worth It or Not? What Renovations Really Help When Selling Your Home

Competitive Pricing for the Market

When it comes to selling a house in Hamilton (or anywhere for that matter), almost nothing matters more than hitting the market with a competitive price point. You never want to devalue your home or earn less than its fair market value.

Many homeowners believe they can maximize their earnings by setting a high price and then negotiating with buyers. All too often, this strategy can backfire by causing buyers to quickly lose interest in your home.

The right price generates excitement and can actually help you increase your profit potential, especially if multiple buyers are interested. Determining an optimum value takes extensive research and analysis along with a healthy instinct that comes from years of experience in the local market. 

Your Hamilton real estate agent can help by assessing all of the positive attributes of your home and comparing them with those that have recently sold in your area. With the perfect balance of pricing and preparation, you can look forward to a successful sale in any market!

Do you want more local advice before listing your home? Our top Hamilton and Burlington real estate agents are happy to guide you through every step. Reach out to us here or call 905-332-9223 to connect with our office today.