If you are an existing or past NESTED client, you definitely know that we are not afraid of old houses. Toronto’s west end is filled with old houses. Many are over 100+ years old. These homes are filled with original, charming features as well as their fair share of old house problems. We absolutely love old houses because the history and character can’t be replicated in a new build. This is also the reason many home buyers seek houses in Toronto’s west end. Unique, thoughtful layouts and incredible attention to detail make these homes extra desirable for those looking to get away from the cookie-cutter designs of new builds and suburbia. However, all this old-world character often comes with a bit of a required renovation. 

Prior to 2020, there were plenty of buyers interested in taking on these older home projects. However, during Covid, renovation projects took a pause and buyers were seeking turn-key and move-in ready homes. With inflated renovation costs, lengthy delays, and new work from home routines, tackling a renovation seemed impossible to many new home buyers. Homes requiring a lot of work inside and out, were much less desirable and not selling well. 

As the Toronto real estate market improves more and more buyers are interested in renovating and older homes are once again desirable. The west end is filled with century old homes, many of which have never been updated. If you have an older home to sell, don’t discount the importance of prepping your home for sale. While it’s true some homes need more worth than others, the type of buyer your house will attract depends on how much work is required up front. Older west Toronto homes can be broken up into two categories: 

1) Well maintained with some updates throughout: 

A house falls into this category if no significant renovations have been done and most of the original features are still in place. This home has been well taken care of and has some minor, but visible updates. For example: updated wiring, some plumbing updates such as bathrooms and a kitchen. These updates are usually 20-30 years old, function well and have no immediate need for replacement other than cosmetic appeal. 

We call these homes “move-in ready with lots of room to improve.” These types of older homes will attract buyers with plans to live in the house for several years without completing any further improvements. Often this buyer will be eager to invest their max budget for a bigger, better home requiring future renovations vs. a smaller turn-key home – longevity in a home is a big factor for most buyers these days. The importance of prepping a home like this for sale cannot be understated. A well-maintained home is one thing, but for a buyer to truly be able to envision comfortably living in a space without immediate renovations, is another.  

 Looking for more selling resources? Check out these helpful blog posts next: 

• Selling Your Home in the Age of Digital Marketing
• How Long Does it Take to Sell a Home in Toronto?
• What’s the Cost of Selling a Home in Toronto?

NESTED pro-tips on selling a well-maintained older home:  

• Complete a home inspection 3-4 months before the house goes to market. Ensure any minor items are rectified prior to listing. A good home inspection instills confidence in potential buyers 
• Declutter and remove large furniture pieces.  This is one of our top recommendations when prepping a home for sale.  The more a potential buyer can envision a life in this space, the more likely they are to make an offer 
• Refresh the interior and exterior with neutral paint colours or a burst of colour in the front door.  Again, this comes back to presenting the potential buyer with a neutral canvas, ready for their personal touch 
• Professional home staging is just as important in these homes as in any turn-key house.  It is important for the buyer to easily visualize living in the home, as well as to see the potential lifestyle this home offers. 
• Market the home in this new era of social media marketing, and online interactions, having the home information available 24/7 will increase interest. Potential buyers can peruse listings at their leisure, when they have the time 

2) Mostly original home with need for immediate TLC 

A house falls into this category when no major or minor updates have ever been done. There are plenty of west Toronto homes that have never been renovated, or just had a quick facelift in the 60’s or 70’s. These homes are considered full fixer-uppers and by today’s standards, will require immediate and extensive renovations. The buyer for these homes is often very different than most other buyers.  

In a robust real estate market, renovators, or house flippers, are always quick to snap up these projects. This is highly dependent on the location and potential return on the investment. However, an end user buyer is still very much a possibility. This could be someone in the renovation industry with great connections and capital available for a complete renovation. Occasionally, these homes will be purchased by a buyer who is not in the industry, though has prior experience with home renovations. A home renovation of this scope is not for the faint of heart. If you are considering a true fixer-upper, check out our blog on what it takes, and what to ask yourself before you embark on this rewarding, yet all-encompassing journey.  

Do you still have questions about selling your home? Read these posts next:

• How to Successfully Price and Sell Your Home 
• Top 5 Staging Tips to Sell Your Home for More Money
• Are You Truly Maximizing Your Home Sale?

NESTED pro-tips on selling a fixer upper: 

• Remove everything you can from the house. It should be sold completely empty so the buyer can see the full size of the rooms and visualize the potential. 
• Refresh the walls with a coat of neutral paint, even primer will do the trick. Paint is the best way to make a space look cleaner, more appealing and even larger. 
• Empty the garage, shed and clean up the exterior space.  The tidier the presentation, the less work it will appear to be.
• Ensure your marketing is geared towards the future opportunity and the value in doing a renovation.  Describe the home’s potential in great detail. Layout plans, opportunities for adding more windows, patio doors, open concept main floors etc.  A small nudge in the right direction will often get potential buyers thinking of new ways to improve the home and build it into a dream-home. 

Selling an older home in Toronto does not have to be a daunting task.  An older home needing work does not equate to less of a sale price. There are many pros that far outweigh the cons of listing an older home. The charm and character built into these homes from another time and place are what sets them apart. And often, as noted above, is what buyers are looking for when house hunting for a century home.  

Planning a home sale this year? Give us a call at 416-909-1602 or email hello@getnested.ca to learn more about how we can help!

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