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Quick Kitchen and Bath Updates To Do Before Selling Your Home
Brendon DeSimone
Zillow  February 17, 2012

Many people say it’s the kitchen and bathrooms that really sell a home.

Buyers prefer that both are clean and in move-in condition. They want to unpack their dishes and glassware as well as their toiletry bag and feel comfortable in their new home right away.

Many homeowners, however, don’t have the time, energy or financial resources for major kitchen and bathroom renovations. Perhaps during their time in the home, the seller focused on turning the basement into a media room or making necessary roof and siding repairs. When it’s time to sell, how can a cash-strapped seller appeal to buyers who want — even expect — an upgraded kitchen and bathroom?

Here are three affordable, quick, easy tips for sprucing up your kitchen and bath right before going on the market.

1. Paint the kitchen cabinets.

It would be too costly to go out and purchase new cabinets just before you sell. But you and your real estate agent despise the old knotty pine or dark grain cabinets from 20 years ago. A quick fix is to paint them white. It will make the kitchen appear lighter, brighter and cleaner. A fresh coat of paint will give the appearance of new, which will appease many buyers. This can be done in one or two days’ time for just a few hundred dollars.

2. Put some new hardware on the kitchen cabinets.

After you’ve brightened up the kitchen with some new paint, throw on some brushed nickel cabinet door hardware. This hardware with the new white paint in the backdrop will make the kitchen pop. Buyers’ eyes may be drawn away from the older counter tops or appliances. And, given that the cabinets are at or just above eye level, the hardware may be the first thing they notice in the kitchen. You can buy new hardware for just a few dollars and install them yourself

3. Re-grout or clean the bathroom tile and grout.

Bathrooms should be sanitary places and a new buyer wants to feel comfortable with their new bathroom. Nothing is more of a turn off than a bathroom where the grout is dirty or moldy or full of soap scum. At a minimum, spend an hour with a toothbrush and some bleach and scrub that grout. This is something you can do on your own in just a half a day. If the bathroom is too far-gone, you may want to spend the money on a tiler to regrout the tile. This will make the bathroom pop, giving a new, clean feeling to this important room

There may be other, more important projects for which you’ve budgeted. In many cases, your real estate agent has suggested painting some of the rooms a more neutral color or spending some money on storage for excess furniture. Staging and home preparation are unique for every home. But, given the focus buyers always put on kitchens and bathrooms, these three tips should be seriously considered as you prepare to go on the market.

SHABBY TO CHIC!

Say yes to renos a fixer-upper can save on the overall cost of the house
National Post
Nov. 12, 2011

Don't pass by that shabby house just yet. With the average price of Ontario homes on the rise to almost $360,000, the Ontario Real Estate Association (OREA) recommends looking beyond move-in-ready properties. "Everyone wants a house or condo that will be perfect the minute they move in," says Barbara Sukkau, president of OREA. "But with the price of houses continuing to rise, and some buyers looking for a family home in a seller's market, it may not be an option for all buyers. Buying a property that needs work can be a way to save on the overall cost even when you factor in the cost of an extensive renovation," she says. OREA recommends identifying properties with your realtor that will build equity after improvements are made but still remain in budget, and make sure the neighbourhood you invest in is worth it.

THE MAGIC 8 BALL

8 Factors That Devalue A Good Home
By INVESTOPEDIA

If you’re considering selling your home, there are a number of factors you should consider regarding the resale value of your property. Some of these issues may devalue your home or scare some potential buyers away entirely, even if your home is an otherwise outstanding property! Consider these eight factors when listing your home.

1. Location, Location, Location

Many real estate television shows repeat this phrase over and over. Buying a home in an area that provides residents with access to services and effective transportation is important – though many buyers don’t wish to live too close to airports and busy roads for fear of noise.

Visual appeal is another concern. Cell phone towers and power lines can be seen as eyesores – or possibly even having potential health hazards. Local school closures can also deter potential buyers who have children or who are considering having children in the near future. Some buyers may be leery of purchasing homes that are on flood plains.

To ensure maximum resale potential, consider how many of these types of issues exist near the properties you’re considering. Remember, though, there’s no way of knowing exactly how a neighborhood will evolve over time. (A lazy or incompetent real estate agent could spell disaster.)

2. Good Renovations Gone Bad

If your home looks like a DIY nightmare, this can definitely devalue your home. Though putting money into renovations generally increases the value of a home, poorly done renovations can have the opposite effect. If buyers feel that the renovations will have to be redone, there’s a good chance they’ll make a lower offer or keep looking for a move-in ready home.

3. Overly Creative Customization

That bright pink feature wall might have seemed like a good idea at the time, but the truth is that unusual paint choices – both inside and outside the home – can turn buyers off, even if your customization is the cutting edge trend in current home design magazines. Customizing spaces so that they may not be functional to future buyers, like turning the garage into a home gym or a granny apartment, might make some buyers reluctant to buy your property.

The same can be said for unique landscaping choices or renovations that are too high scale for the house. A professional chef’s kitchen or marble bathrooms in a modest home suited to first-time buyers won’t likely provide a good return on investment.
4. Unappealing Curb Appeal

The first thing potential buyers will see is the exterior of the property. If the house appears to be outdated or in poor repair on the outside, people will assume it is the same for the inside. Water features or swimming pools and overly landscaped green space may turn off some buyers since people tend to associate high maintenance yards with expensive upkeep and unnecessary headaches. Old fences and sheds can also devalue your home, especially if they look like they’re in dire need of replacement. Keep the gardens weeded and the lawn mowed so that potential buyers can see how nice the property is, inside and out.

5. Pets Gone Wild

Many people won’t mind buying a home that has had resident animals, but no one wants to live with constant reminders of former owners’ pets. Damage to carpets, walls or a strong smell of animals will put off some buyers – especially those with allergies. Consider letting your pets live elsewhere while the property is for sale. Also, a good cleaning and repairing of any visible damage will help to mitigate the potential devaluation of your home associated with pet ownership.

6. Not-So-Nice Neighborhood

A dodgy neighborhood with a high crime rate or homes on your block that look unkempt can scare potential buyers away. Even if your neighbors have unusual-colored homes or have made strange additions to their homes, this can be perceived by potential buyers as an eyesore.

7. Sinister Reputation

Well-known crimes, deaths or even urban legends associated with your house or neighborhood can decrease the value of a home immensely. Most people don’t want to live in a home where they feel that something awful has happened, much less move in with your alleged resident ghost! Though these kinds of issues may be out of your control, they may certainly have an impact on the resale value of your home.

8. Frightful Foreclosures

Many buyers are leery of purchasing foreclosures that are being sold on an “as-is” basis. The fear is that the home could be a money pit or require a huge amount of repairs before being move-in ready. Some good homes may be available through foreclosures, but it’s important to do your research, ask lots of questions and don’t be afraid to bargain. It’s also crucial that you get a home inspection so that you know exactly what you’re getting into. There’s a good chance that some work will be required when buying a foreclosure, but you may get great value for your money if you’re willing to put in a little work.

The Bottom Line

Neighborhoods change over time, so there’s no way to be totally sure when you buy a property how the area will look in the years to come. However, you should always make your best efforts to address any issues with your property that are within your control. Play up your home’s strong points and get involved with your realtor to ensure that any special features of your home and neighborhood have been highlighted.

Photo By: .Craig

10 TIPS IN 2010

Ten ways to get more money from your home
Tim Kiladze
Forbes
Published: Wednesday, February 24, 2010

At last some hope for American homeowners: A week ago the National Association of Realtors reported that fourth quarter existing home sales surged almost 14% over the previous quarter. Still homeowners must be realistic; the median existing single-family home price remains 4.1% below 2008 fourth quarter levels, according to the same report.

The freefall in home prices may be over, but the buyers' market persists -- there's stiff competition to get a house sold for a good price. In a competitive market sellers need to make every effort for their properties to appear more attractive so they sell for more.

And it's the simple touches -- not the big renovations -- that often matter the most.

Clean and De-Clutter
HomeGain's 2010 Home Sale Maximizer Guide, which identifies key repairs to increase your home's selling price, says "cleaning your home and freeing it from all clutter can be the most important of all pre-sale activities." Suggested tips include organizing closets and storage rooms, removing all personal possessions and removing appliances from kitchen counters to free up the space.

Staging
Staging means dressing up your home by hanging artwork, putting out fresh flowers or turning on the fireplace in the winter. The techniques may seem basic, but a 2009 survey of Realtors found that $300 to $400 spent on staging can yield a $1,500 to $2,000 increase in home price.

Online Advertising
Most home buyers browse online listings, and good ads with video walk-throughs are clicked on 150% more than those without. Web appeal is more important than ever in selling a home.

New Front Door
Jean Nayar, author of Staged to Sell (or Keep), says a home's exterior can have a big impact on potential buyers. For cash-strapped owners, replacing the front door is a cheap exterior enhancement that can have a big impact.

"Tier 1" Renovation
Bill Carter, president of the National Association of Remodeling, recommends piecemeal renovations rather than complete overhauls, such as upgrading HVAC systems and hot water heaters, as well as installing double- or triple-paned windows. Homeowners who are able to get a small loan should invest in energy-saving projects and utilize the available tax credits.

Outdoor Entertainment Areas
Because of the recession, "people are starting to realize they've got to rethink their way of life," Carter says. He notices that families in warmer areas are emphasizing outdoor living space, such as patios and decks, rather than taking vacations.

Attic Bedroom
An attic bedroom is a great green renovation for families able to afford it. Instead of building an addition, homeowners can add space without increasing their carbon footprint. "You already have the roof and the joists and the walls there, so you can take advantage of costs already spent," Nayar says.

Inexpensive "Greening"
Installing water-conserving faucets and adding weatherstripping to movable joints are good, money-saving improvements for buyer and seller alike.

Pre-Sale Home Inspection
A pre-sale home inspection may not add value to your home, but it can certainly prevent loss, says David Tamny, president of the American Society of Home Inspectors. He says some homeowners are now advertising their completed pre-sale inspections as added insurance that their home is ready for sale.

Neutral Paints & New Carpets
It's easy to get lost in the suggestions for increasing home value, but a new coat of a neutral-colored paint and new (or shampooed) carpets are always a good base from which to start.


Look the Part

Louis Cammarosano, general manager of HomeGain, a real estate marketing company in Emeryville, Calif., stresses the importance of subtle yet crucial marketing tactics such as staging, or dressing up your home. "It's the same thing when you go for a job interview," he says. "You're looking at a person -- how they dress, how they speak. You're not looking at their credentials initially."

Last year HomeGain surveyed 1,000 real estate agents to determine which home repairs offer the biggest rewards. After ranking for return on investment, the survey found that cleaning and de-cluttering -- including removing personal possessions, polishing woodwork and glass and removing excess furniture -- is the most important. Spending US$100 to US$200 tidying up can increase a home price by US$1,500 to US$2,000.

Putting out fresh flowers, hanging artwork and turning on working fireplaces in the winter all can be equally helpful, but there are exceptions to the rule, Cammarosano says. In some parts of the country, including California, staging seems to matter more than it does in other places, where online presentation might be more important.

"Web appeal is the new curb appeal," says Julie Reynolds, senior director of PR at Realtor.com, which is run by the National Association of Realtors. She recommends making your home stand out online because "the value of a home is what a buyer is willing to pay." Ads that stand out often include walk-through videos; those that do are clicked on 150% more than those without, she says.

Sellers should also think about the type of buyers they have in mind. Targeting families? Make the house look lived-in. Hoping for a young couple to move in? Remind them that kid-friendly parks and other activities are nearby.

Renovate with Marketability in Mind

Certain renovations can also add value, but they don't have to be major overhauls. Jean Nayar, author of the book Staged to Sell (or Keep), which offers simple suggestions to add home value, says installing a new front door is an inexpensive exterior improvement. She also suggests replacing worn-out siding. New fiber-cement siding will generate the best return on investment, but vinyl siding will work for those with smaller budgets.

Bill Carter, president of the National Association of the Remodeling Industry, also stresses "piecemeal" renovations.

"Without HELOCs [home equity lines of credit], without property values, without lending, without people working, you're not going to see a big reach for [big renovations] yet," he says. He suggests upgrading HVAC systems and hot-water heaters, as well as installing double or triple-paned windows.

Outside projects can also add value, depending on geographic location. Particularly in warmer climates, consider adding a new patio or deck. But if you do have the budget for a big renovation, Nayar recommends thinking green.

"There is a trend in general to reduce your carbon footprint," she says. "Consumers are more aware of green living concepts and reducing your energy consumption because of the good that it will do the planet."

For example, creating an attic bedroom is a good way to add space to your home without using more energy. Plus, "you already have the roof and the joists and the walls there, so you can take advantage of costs already spent," Nayar says.

But thinking green doesn't have to be expensive. She also recommends installing weatherstripping and low-flow faucets as cheap alternatives.

Safety First

Pre-sale home inspections have gained traction in the depressed market because buyers are trying anything and everything to outdo one another. With a heavy supply of houses on the resale market, a pre-sale inspection can provide extra assurance that there won't be any surprises after signing the sale contract. David Tamny, president of the American Society of Home Inspectors, admits these inspections may not identify ways to add value, but they can certainly prevent a loss of some.

"Because of the do-it-yourself movement, people do things that are unsafe," he says, citing botched ceiling fan installations and improperly spliced wires as examples. If these problems are not detected when the home is sold, some sale contracts allow buyers to renegotiate prices if inspectors find them after signing.

Sellers needing to move quickly, however, should remain focused on the basics, Nayar says -- neutral paint jobs and replacing or cleaning carpets. That could be the difference between a signed contract and the for-sale sign remaining on the lawn.

Photo By: Tosska

GOOD THINGS COME IN 3s

Can I quote you on that? Renovating a home requires an endless process of decisions. And the first one-choosing who will do the work-is often the most daunting.
By Ruth Myles, Calgary Herald
February 26, 2010


The most well-known adage in real estate is "Location, location, location." The second-most famous, which applies to renovation, also features a trio: "If you're going to have work done, get three estimates." Easier said than done. What exactly should be in those estimates? Is there a fee involved? Should floor plans and finishes be nailed down before approaching these fabled three companies? Often, the sheer scope of what's involved can overwhelm homeowners interested in a reno, relegating the dream project to the back burner for yet another year. But take a deep breath--even better, take three--and we'll take that first step together.

Ask family, friends, co-workers and neighbours for recommendations. (Basically, everyone you know.) And don't be afraid to knock on a stranger's door if you know that a house down the street had a new kitchen put in. Most people are only too happy to share their experiences. Check out Calgary-based publications, such as the Herald's Life at Home or New Homes sections, for renovation features and profiles of award-winning companies.

Once you've compiled a list of contenders, start calling around. Have footage, features and finances on hand. Many companies employ a multistage approach to estimates. The process starts off with a ballpark figure, then moves into more detailed accounting the further into the process you get. "From ballpark to budget to final, we're going to be plus or minus 10 percent. If 10 percent is going to make or break the project, then we shouldn't be in the running to begin with," says Steve Perlette, project manager at Litwiller Renovations and Custom Homes. (Hence, the wisdom of budgeting an extra 10 to 15 percent of the total cost of the renovation. There's nothing like scrambling to come up with an extra 15K.)

Ultimate Renovations also begins with an educated estimate; then, if both parties agree, they draw up a plan and create a spec document that details anything and everything in the job, from framing to the number of electrical outlets to the kitchen sink and its faucet. "Pay for a proper drawing and then, if you want, go shopping," says Danny Ritchie, president of Ultimate Renovations. "This way, you're comparing the same apples to the same apples."

His company charges two percent of the job cost for these plans, but that fee is waived if Ultimate gets the job.

In addition to checking references, Ritchie recommends that potential renovatees request a visit to the business's office, as well as current job sites, to get a real feel for the kind of work they do. "Sure, they may have been in business for 40 years, but under 40 different names." And, as different companies have different levels of spec, it's important to ask what their level of finish is. "You can do very inexpensive casings, carpet at two bucks a square foot, stuff like that, so there can be a fairly substantial spread in specifications," Perlette adds. Once homeowners have a range of quotes from three companies in hand, Perlette recommends choosing between the ones that are consistent in pricing, throwing out the high and the low. "You'll usually have two or three that are fairly realistic and have valuable numbers in them."

Of course, people need to look at more than just dollars and cents when it comes to choosing a renovator. The potential to establish a real connection should be the final dealmaker. (That has certainly proved true for me. Five people have keys to our home and the only one not related by blood is John, our handyman since we bought the house in 2006.) "Pick the people that you like, that you enjoy talking with, that you think you can communicate with because it's a long process," Perlette says. "It's very invasive. You have to live with these people for a very long time."