Is the Ottawa real estate market different from other cities? In a lot of ways, the answer is yes. We do experience the ups and downs that other places go through, but rarely to the same extremes. 

Ottawa is a significant cultural and technical hub, yet it remains affordable, especially compared to Toronto and Vancouver. With plenty of career opportunities, we also don’t experience the brain drain that small cities do as young people leave.

In addition, thousands of new residents come to Ottawa every year, including military relocators, students, and other career seekers.

As a result, our real estate market is far more stable than many other places in the country. What does this mean when selling a home in Ottawa?

Ottawa Housing Values Remain Strong

The good news is that real estate tends to hold its value better in Ottawa. You can count on steady appreciation and equity growth the longer you’ve owned your home.

The even better news is that there are many little things you can do to stand out regardless of what the market is doing. Attracting the attention and interest of multiple buyers is one of the best ways to ensure a successful sale.

Here are some of our top tips to draw maximum exposure for your listing.

Determine the Optimum Listing Price

Deciding on a price point for your home can be tricky. The idea is to find the perfect balance that captivates buyer interest and allows you to maximize your profit. Effective pricing is critical, and you can’t afford to guess.

If you price too high, potential buyers can be turned off.

Set your price too low, and you risk selling your home under value. Or worse, potential buyers might begin to think something is wrong.

If you want the best results, base your initial listing price on facts, not emotions. Determine the value by analyzing the square footage, the age of your home, and what upgrades you have made. And, of course, remember to take current market conditions into account.

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What’s your next step after your house sells? Why not consider one of the beautiful towns just outside Ottawa:

• The Joy of Living in Carleton Place
• 5 Reasons to Move to Almonte
• The Future is Bright in Bells Corners

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Market Your Home to the Right Audience

As mentioned, Ottawa attracts many new residents to the area. However, you never know who your buyer will be until your home sells. Your best bet is to develop a comprehensive marketing plan to cover all the bases. An  MLS® listing can give you global online outreach and is an excellent place to start. To attract attention online, be sure to use beautiful professional photography and videos. Online marketing is essential in the current market because even potential buyers who are local will likely begin their search online.

Listing on the  MLS® is only one of many options. Countless websites can attract millions of people worldwide. Your real estate agent can help you create a plan to reach the people most likely to fall in love with your home.

Make Sure Your Home Shows Well

Some markets are so hectic that your house will sell in any condition. However, we believe you can always enhance results by ensuring your home looks its best when buyers visit. Even something as simple as cleaning and decluttering can help increase the value of your home in a potential buyer’s eyes. Best of all, it costs you nothing except some time, effort, and cleaning supplies.

If you’re willing to go the extra mile, many other minor updates can have a significant impact on your bottom line.

• A fresh coat of paint on the walls can do wonders.
• Replacing the knobs and handles on all cupboards and drawers can give your house brand new appeal.
• Consider switching some light fixtures to enhance the atmosphere of your home.
• Replacing dirty or peeling silicone around the bathtub can make your bathrooms appear cleaner and better maintained.
• Upgrading to smart technology can make your home more appealing to young buyers!

We recommend holding off investing on significant renovations until you talk to an experienced local real estate agent. Depending on the market and your neighbourhood, some upgrades are not worth the time, money, or effort.

Should you stage your home? Staging to some degree is proven to add value in most cases. Your real estate agent can help you decide if bringing in a professional staging company makes sense for your listing.

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There has been plenty of talk about what is happening in the real estate market. Find out more in some of our recent posts:

• Interest Rates are Rising: Will Ottawa’s Market Stay Strong?
• The Past and Future of Ottawa Real Estate

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Work With a Local Real Estate Agent

The expertise of a local real estate agent will be invaluable when listing your house. Very few people realize how much work goes into preparing your home for maximum results. A full-service real estate team takes all or most of the stress away from you so you can go about your daily life. And it isn’t just about reducing your time and effort. A successful sale requires in-depth knowledge of the current market and the neighbourhood.

A local agent can help with everything from knowing what renovations will have the most value to what price will get maximum exposure.

Are you ready to sell your home in the Ottawa area? Why not start with a consultation with one of our experts? It’s free, and there’s no obligation. Feel free to reach out to us at team@westottawarealestate.ca or call 613-690-5993 with any questions you have.

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