Your bathroom can have a surprising impact on a buyer's impression of your home. Here's how to stage this room effectively
If you have buyers coming to see your home, here are some ways to quickly improve your home's curb appeal in just about an hour
Want to find out how to set the ideal list price for your home? This article walks you through the process
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Open House Questions Some Buyers Forget to Ask An Open House is an event. And, like many events, it’s easy to get caught up in all the excitement and energy. In fact, when you visit an Open House, you might even end up rubbing elbows with other buyers who are there at the same time. It can feel like a party! In an environment like that, it’s not unusual to forget to ask important questions about the property. Here are some of the most common: • How old is the roof? • How old is the furnace, air conditioner and other HVAC equipment? • How does the price compare to similar properties in the neighbourhood? (You don’t want to make an offer that’s too high.) • What are the characteristics of the neighbourhood? (Amenities, safety, traffic, access to public transit, property turnover, etc.) • What doesn’t come with the home? (Ask specifically about kitchen appliances, gas-connected BBQs, chandeliers, window coverings.) • Are there any potential impediments to the sale? (Tenants, outstanding liens, etc.) • Are there any outstanding maintenance issues, or repairs that need to be done? (For example, cracked ceramics on the foyer floor.) • Are there any issues that impact the full use of the property? (Ask specifically about shared driveways or walkways, public “right of way” through the property, water drainage rights from neighbouring homes, etc.) Yes, an Open House can feel like a frenzy, and if it’s a home you love, you might feel pressured to make an offer. But, it’s important to take the time to ask the right questions and consider your decision carefully. You don’t want to find out, too late, that there were questions you should have asked. Want more tips on finding the home of your dreams? Call today.
The reasons you may want to sell your home aren’t always obvious. Do you relate to any of the following?
Subtle Signs it May Be Time to Sell Sometimes the reason for putting your home on the market is crystal clear. For example, you might have a job relocation and need to move. Or, you might have decided to downsize because the kids have left the nest. However, there are many other motivations to list your home that are not as obvious, and yet are still good reasons to make a move. Here are just a few examples... • You’re bored with your home and are looking for a change. • There’s something you’ve always wanted in a home that your current property doesn’t have, such as a wooded backyard. • You want to be closer to work, or to activities you enjoy, such as golf. • You want to be closer to family. • The neighbourhood is changing in a way that no longer fits the lifestyle you want. • There’s another neighbourhood you’ve always dreamed of living in. • Your tastes have changed and you want to live in a different type of home. None of these reasons makes it an absolute necessity to list your property and find a new home. Yet, they’re all worth considering, especially if moving will make you and your family happier, and provide you with a more desirable lifestyle. Want to talk about the possibilities? Call today.
Using Neighbourhood Data to Help Sell Your Home Your neighbourhood has a lot of features that can help sell your home faster. Unfortunately, buyers don’t usually notice those features just by driving around. So, you need to make sure they get all the information they need about your neighbourhood. For example, say homes don’t go on the market often in your area. That’s an indication that the quality of life in the neighbourhood is so good that no one wants to leave! In real estate we measure the area’s “turnover rate”, and it’s handy data to have when listing your home. Another bit of data that buyers can’t simply see is the local crime rate. But, most police departments keep those statistics. If your neighbourhood has a low crime rate, that’s an obvious plus to sellers. Demographic data can also be helpful when selling your property. If your neighbourhood has a lot of families, for example, that’s going to be appealing to buyers with kids. Even local development plans can play a role in making your home more attractive to buyers. If a new ramp to a major highway is in the works nearby, getting to work is going to be easier. That’s a big benefit to commuters. Other types of data that can help sell your home include: • Planned local construction. • Proposals for neighbourhood improvements. (For example, a new playground.) • Rates at which local property values are increasing. Any information that shows the advantages of living in your area is going to be useful when selling. By the way, this is the kind of information I put together to provide to prospective buyers when selling your home. Contact me today.
Should You Rent Out Part of Your Home? Have you ever considered renting out a room to a student or renovating your basement into a self-contained rental apartment? It’s a big decision. There are many pros and cons to consider. On the pro side, renting can provide you with additional income. An extra few hundred dollars a month can go a long way towards paying down your mortgage or splurging on an exotic summer vacation. Creating rentable living space in your home — for example, an “in-law suite” featuring a kitchenette and bathroom — may also increase your property’s market value. On the con side, you’ll have more costs and responsibilities as a landlord. For example, you might need to purchase extra insurance because basic home insurance policies typically do not cover rental units, even if you’re just renting out a room. You’ll also be responsible for dealing with repairs sometimes in the middle of the night. Also, if you’re not careful about the renter you choose, you might end up with a “problem tenant”. For example, you could have a tenant who is consistently late on rent payments or simply stops paying. That can be stressful. If you’re deciding whether or not to rent, be sure to check local laws and regulations. Many jurisdictions have very strict rules regarding renting out space in a residential property, and those rules change frequently. Make sure you get the latest information.