There’s a home in my Montreal West Island neighbourhood that’s been for sale for a long time, and I think I know why. It’s the same problem that kept another home in the area from selling for more than a year. And the problem relates to the unfortunate decision that some homeowners make to not update their home as time goes by.
Or maybe it’s not even a conscious decision to not update their home. It’s probably more of a mindset that they like their home the way it is, so it never really occurs to them to change any of the finishes or renovate the kitchen or bathrooms.
This alone is not unusual. We’ve all seen lots of homes that haven’t been updated. As a Montreal West Island real estate agent, I see this all the time.
The problem comes when the home is REALLY BIG.
Then, the task of updating also becomes REALLY BIG — an enormous, all-consuming task that can turn many potential buyers off.
In a smaller home, a buyer can usually fathom having to update a bathroom at some point. But in a home with three complete baths that haven’t seen anything more recent than 1986? That poses a HUGE psychological block.
If you’re the owner of one of these larger homes, do yourself a favour and commit to gradually updating over time, from time to time. Then, when it comes time to sell, even if the whole house has not been updated, the job of doing that won’t seem so daunting to a prospective buyer.
And if you’re one of those people who hasn’t kept up with the times in your home’s flooring, kitchen, bathrooms, windows, etc., then please price your property accordingly.
And when you feel like saying to your Montreal real estate agent, “But our home is so much BIGGER than the other homes on the street,” please understand why that may not carry as much weight as you would like it to.