I hope you will enjoy some tips on how to improve the value of your property and make your next sale a great one!
Should I sell my home?
Selling your home is usually one of the big decisions you can make in your life. Often, the decision requires landing on priorities to ensure you are doing the right thing and you are clear about what you will gain if you chose to sell.
Pondering these three crucial questions to help shape your decision:
What do you value about your current property and what do you find lacking? Make a list of pros and cons considering all features of your home and how it fits with your current lifestyle. If change is needed, see if renovating a viable option.
What are the pros and cons of your current location? Remember why you moved to your neighbourhood in the first place and consider if those reasons are still valid.
How about the financial picture? Are you looking to reduce expenses by downsizing to a smaller, less expensive home? Or, has your financial picture improved since you first purchased and it’s now time to leave this home behind?
Answering these questions will sharpen your perspective and help your decision to stay or sell your home.
5 thrifty DIY fix-ups to help sell your home
When preparing your home for the market, it’s great to know there are some relatively inexpensive improvements that can make a big impact with buyers.
A few well-placed pieces of décor and a clutter-free home are simple things you can do on a budget to bump up interest in your home. Once the fundamentals of a well-maintained home are taken care of, these easy initiatives can seal the deal.
- Clear the decks. Counter space is extremely important for buyers. Be sure to store kitchen and bathroom items off the counters. Purchase storage baskets in several different sizes to help you clear the decks in a hurry and minimize clutter.
- Brighten up storage spaces. Closets and cupboard space are important selling features. You can make the most of what you have by purging unused items and painting a light colour inside cupboards and closets. Adding battery-operated lighting is also an inexpensive way to brighten a dark closet.
- Replace interior room doors. Quickly and inexpensively brighten hallways and rooms by replacing interior doors and hardware. New white panelled doors and hardware can quickly freshen the home. Look for sales at your local building centre.
- Tear up dingy broadloom. You may be pleasantly surprised by what’s underneath. Even if you don’t like what you see, replacing broadloom is one of the most economical improvements you can make when you consider overall return on your dollar.
- Paint. Even high-end interior paints are a bargain when you look at what can be achieved with a fresh new finish. Opt for neutral colours in matte or eggshell finishes to camouflage flaws in walls. Trim is best handled with a white shade of satin, semi-gloss or high-gloss finish.
Top 6 home improvements to add value
Homeowners often look to customize their home for personal enjoyment and to appeal to future buyers. So, we ask, which remodelling projects add the most value?
Homeowners are often inclined to renovate to suit their individual preferences and lifestyles. However, while turning a garage into a music studio may be your heart’s desire, it’s important to be cognizant that future buyers will likely just want to park the car.
Regular and systematic home maintenance provides the best return on investment. Although, there are a few renovations that consistently offer above average return on investment.
According to the Remodeling 2016 Cost versus Value Report (www.costvsvalue.com) the following are among the mid-range renovations that homeowners who are looking to sell may wish to consider. To protect your investment, be sure to obtain work permits and consult a professional before embarking on any project where maximum return on your investment is sought.
- Attic insulation (fibreglass).You can recoup more than 90 per cent of the costs based on immediate energy savings and your home’s future resale value.
- Garage door replacement. Maximum impact on curb appeal and increase functionality. Recoup up to 90 per cent of your investment.
- Entry door replacement (steel). Quickly improve the curb appeal of your home while reducing heating and cooling costs. Estimated return on investment is more than 80 per cent.
- Manufactured stone veneer. Add curb appeal to the exterior of your home, or to accent specific areas within the home. Recoup up to 75 per cent of your investment.
- Minor kitchen remodel. Based on a mid-range investment of about $20,000, you can expect to recoup about 70 per cent.
- Deck addition (wood). Add a deck to increase outdoor living space and recoup up to 66 per cent of your investment.
5 steps to achieve first-home style
The time between inking the deal on your first home and move-in day is sure to be filled with anticipation and excitement. You’ll be thinking about the empty rooms in your soon-to-be-occupied home and the promise they hold. But it’s important to give yourself some time in the home to let your ideas evolve into better ones.
By all means visit stores, gather information, ideas, colours and fabric samples to begin your decorating plans. But remember, a truly comfortable and functional home that reflects your personal style will develop over time. These tips will help first-time homeowners to furnish and style their new abode:
1. Resist the temptation to immediately purchase new furnishings. Organize and move in with what you have, placing furniture in rooms and finding places for items that go in closets, cupboards and drawers.
2. Measure and make a plan for each room on paper. Explore options on graph paper and consider using masking tape to mark out dimensions on the floor or walls of any furnishing you might purchase. This will ensure the pieces will work within your available space.
3. Consider unwanted elements. Home ownership affords you the luxury of making choices. If you don’t like a lighting fixture or the wallpaper border in the kitchen, you are at liberty to replace it.
4. Consider any changes you would like to make to flooring. Carpeting from the previous owners may be crying out for replacement. Research and price out replacement options with consideration to available products, the temperature underfoot, and any need for noise reduction.
5. Create a budget. Apply a realistic price tag to your wish list and establish a time-frame to achieve your goals. Do things one step at a time and keep a tally against your budget as you go.
Five Summer Projects to Increase Home Resale Value
Assessing the best return for your investment is paramount when undertaking home improvement projects. This means putting a priority on the jobs that are likely to be more valuable than others.
1. Build a deck or patio. A deck or patio not only adds visual interest and enjoyment, it is also a way to add to the resale value of your home. There are many designs and approaches to consider so start with a trip to your local library to research ideas and choose an approach that fits your time and budget. Be sure to plan well ahead and to check your municipal building requirements as a building permit may be required for decks above a certain size and height. Summer is an ideal time to get outside and invest your time, money and resources in a project that is going to pay back when it comes time to sell your home. We recommends investing in these top five outdoor home improvements.
2. Install a sprinkler system. On average, homeowners use 50 per cent more water than necessary on their lawns. This increases hydro bills and may subject your basement to seepage and your garden from damage from over watering.
Automatic lawn sprinkler systems are designed to allow proper irrigation through timing and even water distribution. Although there’s an initial cost of installation, you could save money in the long run.
3. Landscape your property. Landscaping is a great way to add visual interest to an outdoor living space. Whether planning a garden or building a pond, landscaping often results in a significant return on your investment. However, always consult a trained professional before tackling a landscaping project to ensure that your project has all the elements of a professional project.
4. Build or replace a fence. Defining the limits of your property is important for a variety of reasons, including privacy, security and safety. Considering your specific needs will help you to choose the right fence. Ultimately, the fence has to fit with how you use your yard. Do your research and consult with neighbours to determine if you can complete the project jointly.
5. Re-shingle a tired roof. A strong, durable roof is an essential component of your home’s overall health and functionality. If your roof is showing signs of wear, such as raised shingles or water seepage, choosing a qualified roofing contractor is a good first step. If you decide to do the job yourself, you’ll want to estimate the materials required accurately, consider disposal options for the old shingles, and ensure that you have plenty of hands available to make light work of a rigorous one-day job.
Make merry with a late-in-the-year home sale
You may have fewer people viewing your home during the fall and winter months, but that doesn’t necessarily mean fewer offers. Compared to selling a home in the spring when there are more homes on the market, selling during the final months of the year can often be a successful endeavour.
With careful planning and a few helpful tips you can showcase your home and find time to enjoy the season too. Here are tips to help you through a late-year sale:
- Weekends are for showing. Homes show better during the daylight hours, but as the days get shorter, the work week gets in the way for many buyers. However, this can work in your favour if you are selling a home late in the year. Show your home over the weekend during the day and leave it the evenings to enjoy outside social events.
- Get help with the cleaning. You’ll need to keep your home sparkling clean for showing, so this might be a good time to spend a little extra money on a housekeeper. Alternatively, have the whole family pitch in daily to pick up, wipe clean, dust and vacuum. Many hands make light work.
- Trim a smaller tree. Opt for a smaller Christmas tree and decorate sparingly to make an impact while not taking over the room. Be sure to store wrapped presents out of sight.
- Strip out the clutter to make merry. If you’re selling during the holidays, it’s critical to clear out and store away all household clutter and personal items. Once the decks are clear, you can accent with a few tasteful and carefully-placed decorations.
- Leverage tradition to create a warm, homey atmosphere. Plump pillows in cream and golds and soft earthy coloured throws coupled with red and woodsy greens accents provide seasonal touches that draw directly from nature. This kind of decorating is easy on the eye and attractive to any buyer.
Request a home evaluation
I offer complimentary home evaluations. Please do not feel obliged to list and sell with me when you request a current home evaluation. I am always happy to help, and when you are ready, I will be available to provide you with my full real estate services.