With 289 listings between March 10 and April 7, 2022, and an average sold price of $1.3 million, Newmarket is one of the more popular places to live in Ontario. Home prices rose by 21.7% in 2022 in Newmarket compared to 2021.
This puts Newmarket ahead of nearby cities like Markham, which had only an 11.8% increase from 2021 to 2022, and even Toronto had a lower growth at 11.1%. Aurora, on the other hand, had a slightly higher increase in home prices than Newmarket, coming at 22.7%. Smaller towns nearby include Bradford, Gwillimbury, Holland Landing, Keswick, Mount Albert and Uxbridge.
These numbers show that Newmarket and its nearby communities are a strong seller’s market. Homeowners who own houses, condos, or second homes there and want to sell fast have a good chance of finding buyers, especially if they decide to sell their home to a cash home buyer.
Need to Discuss Your Sale?
The traditional mortgage or home selling process is not a good fit for everyone, and can feel overwhelming. You can contact us for a no cost consultation, and we can outline your options.
In this article, you will learn how to:
- How to sell your home fast in Newmarket
- How to find buyers for your home
- Choose a selling option
How to Sell Your Home Fast in Newmarket
Prepare Your Home for Visitors
If you’re listing your home, you will likely get a few or possibly many visits from interested buyers. If they find that your house is not presentable, they could easily walk away. You should always declutter before having people over to view your home. Get rid of non-essential furniture and personal belongings that only serve to make the house look more crowded.
After decluttering, you need to reach out to a professional cleaning service and have them go through your house from top to bottom. You can always count on buyers scanning your house thoroughly. And finding dust, mould, dog hair, or general uncleanliness is enough to sway most people from making a serious offer.
Make Necessary Repairs
While you don’t need to renovate your home, you should always make a few repairs here and there. A fresh coat of paint goes a long way toward making your house look new. On the other hand, you also need to fix problems that would stand out during a visit like leaky faucets, broken HVAC systems, and mouldy roofs.
Upload High-Quality Photos
Some studies show that over 90% of buyers look for houses and condos online. If you want to sell your home, you have to list it online. When you do that, the better the pictures are, the more people will come to view the property. So, invest money in these photos and hire a professional photographer to take the pictures and show your home in the best light possible.
How to Find Buyers for Your Home
Hire a Realtor
If you don’t want to spend time looking for buyers yourself, you could always hire a real estate agent to do the heavy lifting for you. They know the market and they can find buyers and arrange viewings on your behalf.
To find realtors, you just need to go online and look for realtors in your area, whether that’s in Stonehaven, Armitage, or any other neighbourhood in Newmarket. Reach out to one and set the commission. The realtor will handle everything from promoting your home to the paperwork.
Find Cash Home Buyers in Newmarket
A second option that has been growing in popularity over these past few years is cash home buyers, the easiest option for homeowners who want to sell their homes fast. Cash buyers are usually companies that buy houses for cash to resell or rent them. This means they’re not as picky as ordinary buyers that want a house or condo to move into.
With cash buyers, you also pay no commission since there is no real estate agent or middleman involved. This saves you tens of thousands of dollars that would otherwise be paid to your real estate agent as their commission. You just go online and search for ‘cash home buyers in Newmarket’ or ‘companies that buy homes for cash in Ontario’ and you can find cash home buyers who will be willing to purchase your home.
How to Choose a Selling Strategy
How Fast Do You Want to Sell Your Home?
The answer to that question determines whether you’ll hire a realtor to sell your home for you or reach out to cash buyers –– there’s a third option, selling as an owner, but it usually takes more time. If you are in no rush, you can hire a realtor and pay their commission. If, however, time is a factor, then cash buyers are a better option. They would send someone to appraise your home, and 24 hours later, you’ll get an offer. Once you accept it, you can close the whole deal in a week or two.
Can I Sell My Home ‘As-is’?
If you want to sell your home fast, cleaning and doing repairs could slow things down and add unwanted expenses. With ordinary buyers, you can’t always sell your home in its current condition. So, you’ll be forced to spend some time and money to fix things up around your house or condo and put your personal belongings in storage. If you sell to cash buyers, on the other hand, you don’t need to do anything. They purchase homes ‘as-is’ regardless of the property’s current condition, so you won’t have to do any work to get your home sold.
Where Is Your Home?
The location of your property is something else that you have to consider. If you own a house or a second home in a rural part of Newmarket or a suburb like Bogarttown or Schomberg, finding a buyer would be a bit more challenging compared to a location like Central Newmarket.
Properties closer to the city center sell much faster than rural ones. This is another instance where cash buyers present a better alternative than the traditional home-selling process. They often purchase properties in rural locations in order to convert them into vacation homes and cottage rentals. Even if your home or second home is in a remote location, you can still get below market value for your property when you work with a professional cash home buyer.
When Do You Want to Move Out?
If you have another home ready, you can choose whichever selling strategy you want. If, however, you need the cash from the sale to put a down payment on another house or condo, you might be pressed for time. Ordinary buyers would want to move to your home as soon as possible after you sign the deal, so they may not be lenient with extensions. With cash buyers, though, there is a ‘sell and rent back’ option that allows you to continue living in your home as a tenant after selling it.
Need Advice on Your Sale?
You may have more questions on the entire process and how much money a cash buyer may offer. You can contact our team directly and we’ll do our best to answer your questions.
For many homeowners, cash buyers are a faster and more convenient option. Whether you want to sell your property to relocate or settle debt, cash buyers can help you sell your home faster than any of the alternatives. To learn more about cash buyers in Newmarket, call Mortgage Broker Store at 416-499-2122 or fill out one of our forms on this website to get a free consultation with professional advice from our cash buyers. We buy houses in Ontario for cash and can help you find what you’re looking for.