Owning an unwanted home in Montreal can be expensive, frustrating and painful. There are few things worse than not liking where you live and feeling there’s nothing you can do about it. Whether you live in this property or rent it to someone, we hope to help you by presenting these 5 things to do with the house you no longer want in Montreal!
No one wants to be taken in to keep a house they don’t want. When such a situation arises, every little expense weighs on us. If you no longer want to own your home, but don’t want to just give it away to a buyer, you’ll be interested to learn what things to do with your unwanted home in Montreal!
Renovez
Calculate how much the renovations you could make will cost and how they will affect the selling price of your home. Maybe you’ve been putting off renovations for years and you’re in over your head. Perhaps your property needs a little attention to make it stand out from the crowd. Some small jobs can be done quickly and have a major impact on the value of your home. These little things could even make your property so radiant that you’ll want to keep it!
Find the right tenants
Maybe you want to sell because you’re tired of having to deal with bad tenants, chase rent and fix everything. Having bad tenants can invalidate all the advantages of owning a rental property. Tenants who leave after a short time will also reduce your profits.
Before letting go of your Montreal property, ask yourself whether things might be different with the right tenants. Maybe the house doesn’t suit you anymore, but maybe it’s just your tenants that don’t suit you and make you want to drop everything and walk away. A good property manager can help you screen potential tenants and choose the right people to live in your home, allowing you to make a profit from your rental property.
Sell quickly, as is
No, you may not get the amount you could have if you sold on the traditional market instead. On the other hand, the faster you sell, the more money you can keep in your pocket. Even if your property is not in very good condition, it could be of interest to an investor who buys properties as is. If you sell your home quickly to an investor or direct buyer, you’ll immediately put an end to carrying costs, so you won’t have to take more money out of your pocket. Selling as is means selling without having to clean, repair and modernize a property, and without having to pay for all these things! You can advertise your house for sale as is, but you’ll still have to pay commissions. By opting for direct sales instead, you won’t have to pay a thing. A fast, direct sale will save you thousands of dollars on insurance, taxes, electricity, interior and exterior maintenance, repairs, renovations and landscaping, all of which are normal monthly expenses for homeowners who advertise their home for sale on the traditional market.
Donate
In some cases, giving away the house is the best thing to do. This way, you’ll receive tax credits and do a good deed that will help someone live a better life. You can donate your home to a charity or to someone you know, such as a friend or family member. If you don’t want to keep your property and don’t think you can sell it at a good price, giving it to someone who needs it more than you is the best thing to do.
Wait
How much does your property really cost? If you answered that it doesn’t cost you anything, you could keep it for a while and see if its value increases. If keeping the property for a few months brings in a few extra thousand dollars, waiting can be well worth it. Find out about market trends and appreciation rates. What do new developments in the region look like? If you keep your property, you’ll be able to sell it when you can make the most money. This could be in a few years’ time, when your city will have expanded and demand will be greater.
Find a direct buyer
A direct buyer will quickly be able to purchase your home as is. Such a transaction will save you time, work and ownership costs. You can sell to an investor or to a reputable home-buying company like Vendre Maison Vite. If you’re looking for a fast and fair way to sell your Montreal home, our team can make you a no-obligation offer right now! Our buying process is straightforward, and we can help you better understand the value of your Montreal home. If you have an unwanted home in Montreal that you’d like to sell, contact our team today and find out what we have to offer!
