With Toronto’s real estate market stable at the moment and a supply shortfall pushing home prices up by 5%, it’s a really good time to consider putting your house up for sale. If you’ve invested wisely in your property over the years you might realize a good profit by selling now.
As a seller, you’re responsible for disclosing any defects in the home that might not be visible to potential buyers during a simple visual inspection. Getting your home ship-shape with all the electrical and plumbing repairs it needs before putting it on sale will not only make it turn over faster—and at a higher price—but will help you avoid complications after the sale if the buyer discovers faults you weren’t aware of.
It’s essential to make sure your electrical installation is up to standard before putting your house on the market. All home wiring must comply with the City’s electrical safety requirements, and if you’ve been in your home for 20 years or more there’s a strong possibility the wiring is not according to building codes, even if it still appears safe. Your buyer will get an inspection carried out and if the electrical installation is sub-standard in any way, he will be required to conduct repairs before taking transfer. This can delay the sale process or result in a deduction of the costs from the final amount paid for the home.
Schedule a visit from your Toronto plumbers to do a full camera inspection of your water installation and drains and a snake inspection of your sanitary line. Heavy summer rains and new roots growing in your garden can cause trouble for your drainage system, while old residue from winter can result in blockages. If you find any problems, hydro-jetting is a good way of cleaning out the pipes without digging up any of your property.
Check your walls inside and out for cracks and other problems. Mildew is sometimes an indication of a leak in either the roof or the wall, and any of these issues can cause damage to the structure if left unattended. Also check for any damage to your basement waterproofing or foundation. Rather fix these issues yourself than leaving them for the buyer. He’s more likely to commission expensive plumbing repairs than you are, and you could find yourself severely out of pocket.
Check your garden or yard for any pools of standing water. These could just be a hangover from the last rain, or it might mean you don’t have great drainage. That in itself isn’t a problem, but it does mean the water will be trying to find ways to get into your home. It can also be an indication of a more serious problem such as a leaky drainage pipe under the ground. Also check your downspouts and gutters to make sure they are free of debris. Getting water trapped on your roof is a sure-fire way to end up with it indoors instead of outdoors.
Be a responsible seller by handling all necessary repairs before you look for home buyers, and you’ll have the reassurance of knowing there’s nothing that can come back to bite you.