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Home Renos and Upgrades

Fri, 16 Sep by Pauline Relkey

Home renovations and upgrades are a smart way to add value to your home. Even simple repairs, regular maintenance, updating fixtures and appliances ensure your home stays in tip-top shape, maximizing not only its value but also its future marketability.

Here are a few areas to focus on:

Renovations that pay back
Kitchens and bathroom overhauls top the list of home improvements that yield the best return on investment. Fast and easy updates such as replacing fixtures, counter tops and resurfacing cabinets can go a long way in transforming these high-traffic areas with a fresh, modern appeal.

Add more space
Expanding your living space, such as finishing the basement, is an excellent value-add to your home and lifestyle, especially if you have a family looking for more room to play and grow.

Repurpose a room
Survey your home with an eye to converting rooms for new functionality. A home office is a great feature to have, and a revamp that still allows the flexibility of easily reverting the room back to its original purpose.

Take a green approach
If planning a home renovation, go green with energy-efficient options that promise a high return relative to cost. Today’s high-efficiency appliances, heating and cooling systems, lighting fixtures and even building materials such as insulation, can help reduce your household’s monthly overhead costs.

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Things that Sellers shouldn’t reveal during home showings

Thu, 15 Sep by Pauline Relkey

I believe that sellers should be out of their property when it is being shown, but if for some reason you HAVE to be home when a showing occurs and if you want to improve the odds of selling your home quickly, there are some details you may want to keep to yourself. You don’t want to reveal information that could put you in a compromising situation when offer time rolls around.

Here are some things you shouldn’t divulge if you want to ensure a smooth sale that works to your advantage:

1. Motivation for selling
Revealing too much information as to why you’re selling your home may give buyers the impression that you’re desperate to leave your property behind (hate my neighbours, noisy dog next door, divorce, road noise, etc). When asked why you’re selling, keep your response short and sweet (downsizing, change of plans, etc). A lack of urgency on your part will hopefully eliminate the possibility of a buyer low balling you with an offer simply because they think you’re eager to sell quickly.

2. Things you planned but never did
Always wanted to renovate the kitchen or bathroom, but never got around to it? That’s not the type of information you want to share with home buyers. This might give the impression that the home isn’t move-in ready and that there are many issues with the home that could require costly renovations. Instead, highlight what you have done to the property for upgrades and maintenance and what you love about the home, the street and the area. A good Realtor will ask you these questions when listing your property.

3. The number of showings you’ve had
Sometimes potential buyers will ask you how many people have visited your home. This is their way of determining how much interest there is for your home. While it may be tempting to provide them with a high number, don’t. Since the amount of people who have visited your home doesn’t directly influence whether or not a potential buyer will make an offer, you’re better off remaining vague and saying you’ve had “a few visits.”

4. Number of interested buyers
Revealing that there are a slew of interested buyers (calls and emails and showings) may deter someone from making an offer simply because they feel the competition is too much. On the other hand, saying that there has been no interest in your property could create doubt and cause a potential buyer to believe that there is something wrong with the home. You are not obligated to discuss how many buyers have shown interest in your property.

5. Verbal negotiations
As a seller you could be liable for verbally negotiating and sharing information.  Should a potential buyer ask you if you are willing to negotiate, be very cautious with your response. Only communicate your intentions (and follow through) in writing with the guidance of a real estate agent, in order to protect your interests. Isn’t this one of the many reasons you have hired a Realtor to help you with the sale?

6. Trepidation about selling
Even if it’s your first time selling a property and a month has passed without an offer, don’t let your nerves get the best of you. Stay focused on the fact that you are receiving inquiries and visits which is a good thing. Keep your head up, project confidence and the right buyer will come knocking.img_5203

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