Whether you just jumped into the real estate market or have been here for a while chances are you are concerned about the resale of your home. Recently we had a first time buyer who struggled for months to find a house. Despite a few attempts at offering she wasn’t having any luck. Deciding not to pull any punches she went in strong and the third time was a charm.

She was delighted. Her parents on the other hand were a bit concerned she’d overpaid. Would she get it back in the resale? Was it worth what she was willing to pay for it? In the end the decision was hers and she made it weighing her options and coming to the conclusion that the location, house and conveniences it offered her were well worth the price.

What I would like to say to her is this: Nothing in life is guaranteed, least of all resale of a home. It does bode well for her that there was other interest and other offers for this property.

Over the last few months we saw SEVERAL properties, some which garnered a lot of interest and some that garnered none at all and languished on the market. The ones that languished did so for obvious reasons; bad bones, terrible location, too small to be inhabitable etc.

The market was and is so hot that people were looking past the cosmetics and the work that may need to be put into a home and going for them none-the-less. This is happy news for me. The public wants property so badly there are dragging themselves out of the quagmire of the HGTV syndrome and the move-in ready phase and looking at what they can make a home not what it is already.

Happy news for me not so good news for our buyer who herself was willing to put in the time and work to make a house her own but didn’t necessarily have the capital to pay for a house twice over. What I mean is she couldn’t buy the house for well over it’s current value and then sink a ton of money into it to make it what she wanted, therefore she had stiff competition from people who both wanted a fixer upper and were able to pay more for the privilege.

The positive is that if others are seeing the potential in a house and looking beyond the cosmetic and are willing to come to the table with an offer it’s clearly a hot property.

Buyers these days may be looking past the cosmetic but they are seeing the potential of SOLID homes. Those houses that do not have the potential because they are either leaning on their neighbour, have 10 too many odd little rooms in what appears to be a maze more than a house or boast basement apartments little more than hovels have languished on the market and will continue to. The only potential they have is for headache and a wide gaping hole where the buyer’s bank account used to be.

So soothe your mind. Think of your houses resale like this: if it was a hot property that garnered a lot of attention and multiple offers it will sell. If you put the love and care into it that it needs, and don’t just ‘babysit’ it as Joe would say you should get a return. But again nothing in life is guaranteed.

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