Start with an Open Mind
Take a tour with a
Realtor and get some outside opinions on what areas you should focus your
dollars on and what’s needed to get the maximum offers. Too often investors/home
owners become either too emotionally attached or not attached at all. I have
worked with investors who were renovating a property and blew their budget on
some obscenely expensive tile they “had to have” and had nothing left for
furnishing the place. On the other hand I’ve worked with landlords who did not
see the value in painting a place that had gone through 3 tenants! Looking at a
property from a buyer’s perspective is key.
Maximize curb appeal
The outside should
draw people inside. Neatly trimmed bushes, mulched beds, and weeded lawns all
help make that crucial “first impression”. Freshly painted front doors with new
mailboxes and house numbers are easy ways to create maximum impact without
breaking the bank. Adding seasonal urns by the front door for some colour are
another way to brighten up concrete steps or boring brick.
Choose neutral colour tones
Bold colours are great
for living, but not for selling. Light and Bright should be your motto! Stick
with a warm, neutral palette like tans, taupes and greys. Avoid dark colours,
especially in small spaces (like powder rooms). Keep the ceilings white to keep
walls looking tall. Rule of thumb, if the walls haven’t been painted in over 2
years, now is the time!
Let there be light
Lighting plays a vital
role and is often overlooked when getting a property ready for sale. Dark
hallways, rooms with little natural light, basements and bathrooms should be
addressed. A minimum of a 2-bulb overhead fixture with maximum watt bulbs can
transform a dingy area.
Adding ambient lighting is essential especially in areas where
there are no overhead outlets. Adding table lamps and floor lamps will help
brighten up any room and help your property appear as “light-filled” as
possible.
It’s all in the details
Replace all burnt out
bulbs, touch up any nicks and dents in high traffic areas, replace torn screens
and fix leaking faucets. Once the fix ups are done it’s time to focus on the
pretty stuff. Fresh linens in the bathrooms, a bowl of fresh green apples on a
kitchen island, fresh flowers on a dining table or in the entrance way.
Adding live or silk greenery to bathrooms and adding a new crisp
bedding set to the Master all help create the impression of a well-cared for
home.
Flooring
This is the other main area that always increases the value of a home. It will ALWAYS cost you less to replace worn carpet or add new flooring then to leave it to the new home own.
Most buyers are looking for reasons to discount their offers. Flooring is one of the first things buyers see when they walk in. If their first thought is “I will need to replace these floors”, I guarantee they are discounting their offers $5000-$10000 for condos and $7000 – $15000 for houses. Doing the work yourself will cost you a fraction of that amount.
Highlight best use of the
space
You may have liked to
use the dining room as an office, but it should be shown with its intended
purpose. Giving a room more than one function (i.e. guest room and office) is a
great way to effectively show the space. In condos this becomes essential when
space is at a premium.
Using small glass desks with a stool you can tuck in can
creatively introduce a work space where one wouldn’t think possible. Adding a
daybed to a den/office creates extra sleeping space. Determine what adds the
most value to potential buyers in your neighbourhood and showcase the space
accordingly.
This may seem like common sense, but unfortunately it’s still the one area owners tend to try and shortcut. This is the time to hire a professional cleaning company. Special attention should be placed on appliances, inside and outside of cupboards, baseboards and windows. Bathrooms should be scoured and if necessary use grout cleaner to get the tiles looking spotless!
Kitchens and bathrooms are
the place to invest
If you have dated
cabinetry, cracked and worn laminate counters, chipped or broken tiles,
consider investing in repairing and upgrading these rooms.
If your budget is limited, changing cabinetry hardware to brushed
nickel or silver knobs and handles will give it an immediate appeal. Consider
painting cabinetry instead of replacing them. Depending on the price point of
your property it is often worthwhile to install stone counters. This
immediately adds value and is very durable for long term use. If stone is not
in the budget, consider a “granite– like” laminate counter. Re-caulking around
sinks and bathtubs is a simple improvement that can greatly improve the look of
a bathroom.
Vacant properties sit,
staged properties sell
Staged homes sell 2 –
3 times faster and up to 6 per cent more than unstaged ones. People perceive
staged units that are well decorated as worth more. Professional stagers know
how to highlight the features of the unit and distract from any “not so
desirable” features.
If your budget is limited consider focusing on the main living
areas and at least one bedroom. If you can’t borrow furniture and artwork,
rental companies carry everything from furniture to linens. Just keep in mind
that the goal is to show people how to use the space effectively.
Remember that 79 per cent of Toronto buyers have already viewed your
property on the Toronto MLS (Muliple Listing Service); make sure that your property stands out among the
competition! Staging is your key to getting noticed and getting SOLD.
Curious about what your home is worth in today's Toronto Real Estate Market? Give us a call; you will be pleasantly surprised at your home’s current value. Planning a renovation? We can advise you where you will get the most return on your investment. Please accept this as your personal invite to call upon us with all of your real estate needs.
.jpg)
.jpg)
