Selling a home in Quebec requires careful planning and investment, especially if you want to attract those first buyers as quickly as possible. There are a few strategies that can be effective in selling, such as using a home staging professional, and that can speed up the process. What’s more, since first-time buyers can count on government incentives, it goes without saying that their needs must be taken into account, as they form a demographic that will always be fruitful to solicit. Here are a few tips to help you sell quickly to this target group.
Who qualifies as a first-time home buyer in Quebec?
To qualify as a first-time buyer in Quebec, the buyer and his or her spouse must prove that they have already owned a property jointly for at least three years. In addition, their combined age must not exceed 70. And of course, the property they wish to purchase must be located in Quebec.
What are first-time Quebec home buyers looking for?
In addition to specific needs such as being able to find an affordable property, most home buyers in Quebec have roughly the same preferences. This makes it easier for sellers to know where and how to invest to meet these needs. Let’s see what they are.
Renovating the kitchen and bathroom pays off
Most first-time buyers in Quebec want to acquire a property they can move into as soon as possible. What’s more, many of them want to decorate the premises according to their aesthetic preferences. This means that renovated kitchens and bathrooms are highly sought-after assets in the Quebec real estate market.
In fact, it’s estimated that up to 81% of first-time buyers consider a renovated bathroom and kitchen to be essential features when looking for a home. So it’s no surprise that most experienced brokers advise their seller clients to invest in renovation projects.
If you’re short on time or cash, the best approach is to look at properties that are selling quickly. Also take note of the
Open-plan homes
If you’re planning renovations that go beyond the kitchen and bathroom, open-plan living is your best option. In Quebec, nearly 60% of first-time buyers prefer this type of layout. This preference may be explained by the fact that open areas appear more airy and less cluttered. The added advantage is that future buyers can modify the layout to suit their needs and preferences.
Of course, this doesn’t mean you have to knock down every wall in your home, but removing a wall or two will be perfect for opening up the space. Most of these design concepts bring the living room, dining room and kitchen together in a single space. Young parents are also attracted to this concept because it allows them to keep an eye on the children while they prepare meals or clean up.
Quebec first-time buyers prefer low-maintenance properties
Put yourself in the shoes of someone looking to buy their first home. These buyers are cautious, as they will be investing a large portion of their current and future income in such an asset. They also need to hire a good broker, have a down payment, pay the mortgage each month, organize their move, hire an interior designer, and so on.
The list of expenses for first-time buyers is pretty long. Especially if they arrive in their new Quebec home with children. They’ll want a property that gives them time to adapt to the changes without putting an extra burden on their wallet. That’s why a home that’s easy to maintain and won’t require major work right away is what most first-time buyers and families are looking for. With this in mind, you could, for example, have the carpet and other dust-holding floor coverings ripped up.
Reducing the number of things the buyer has to get once they arrive in their new home is also a factor that can speed up the sale. Homes with new appliances or in good condition, especially in the kitchen, sell much faster. First-time buyers don’t usually have a lot of furniture, appliances and other essentials. So they’ll be more interested in homes that are already equipped with appliances such as a washer, fridge, central vacuum, etc.
Improved energy efficiency
High energy efficiency and low maintenance are equally attractive features for first-time home buyers. So it makes more sense toinvest in renovations that will pay off in the long term. Fiberglass insulation in attics, basements and crawl spaces, for example, can dramatically reduce energy waste and make every square inch of your home more affordable. This type of work could cost you around $1,000 per room. Bear in mind, however, that such work could increase the resale value of your home by up to 120%.
First-time buyers will consider high-quality insulation, which will make the property much more attractive. A low energy bill is therefore a much more sought-after aspect than trendy furniture or decor.