Lori VanDinther is a Licensed Sales Representative and Team Leader of the VanDinther Team at RE/MAX Garden City Realty Inc. Brokerage in Burlington Ontario Canada. Lori is a long time resident of Burlington and has been successfully selling real estate in Burlington, Oakville, Carlisle, Kilbride, Waterdown and surrounding areas for more than 18 years. Lori has received numerous awards throughout her real-estate career for Sales Achievements and TopPerformance. Lori attributes a lot of her success to ALWAYS putting her client's needs first!
How important is home staging when selling your home? Most would agree that it produces some impressive results! Home staging has an impact on not only the selling price of the home but also the speed at which a home sells.
According to a survey conducted by HomeGain, the top five home improvements that real estate professionals recommend to sellers are:
Cleaning and De-cluttering. This is a no brainer for many people who are selling their homes. Obviously we all need to pack, downsize, and organize so that moving is less chaotic than it already is. HomeGain estimates that for a cost of $402 a homes value can increase by up to $2024!!! That is a 403% ROI.
Lightening and Brightening. A fresh light/bright colour to create the blank canvas buyers need to envision their future in your home; takes you a long way as a seller. Updating light fixtures and making things more streamlined drastically improves the appearance of your home. With estimated costs of $424 this could mean the potential of a $1,690 price increase.
Repairing Electrical or Plumbing. This will cost a bit more but the ROI is astounding at a potential of $3,175 increase in the selling price.
Landscaping. We have all heard of curb appeal and know that the beautification of a home is equally as important on the inside as it is on the outside. You could increase the price of your home by up to $1,777 with an investment of $564. Not bad right? Isn’t it a little bit fun to get your hands dirty in the garden?
Home Staging. We all want to see a homes potential. By creating an ambiance and improving the overall aesthetic of your home you could bring in an extra $2,145!
These are all relatively low cost improvements that sellers can do themselves or with the help of family and friends. These tips and other cost effective home improvements are worth the extra effort and investment.
Ultimately, the simplest of things are all that is necessary to make BIG changes in your selling price. The home staging industry has seen rapid growth and it is because home staging WORKS! The ideal scenario is that a seller’s house goes to market and they can sell their homes for more money and in a smaller time frame. So get your gardening gloves on, your painting overalls and your high waisted jeans for plumbing. It’s time to put a little elbow grease into your home and maximize your ROI’s!! Happy Selling!
Canada Mortgage and Housing Corp. has declared that they will be tightening up the types of mortgage insurance it will offer. The Crown corporation said Friday that it is going to stop offering mortgage insurance on second homes. It will also stop offering mortgage insurance to self-employed people whose income cannot be validated through traditional means.
These changes affecting those who buy second homes also means that if they currently have an insured mortgage; they will not be eligible to act as a co-borrower on another insured mortgage.The CMHC says that its second home program and its self-employed-without-third-party-income-validation programs account for less than 3 per cent of its insurance business volumes in terms of the numbers of mortgages insured. A recent press release stated:
“Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market.”
The Crown Corporation has been offering insurance on second homes since 2005. This has enabled people to buy more than one home with a smaller down payment than they would otherwise need. It has been offering insurance to self-employed people without strong income validation since 2007. CMHC will cease offering both products as of May 30.The CMHC also noted that
“self-employed Canadians can still qualify for CMHC insured financing through CMHC homeowner products with a validation of their income using traditional methods.”
Those might include a notice of assessment, audited financial statements, or unaudited financial statements prepared by an independent third party.
More good news! Hamilton-Burlington residential real estate is expected to post a strong performance for this year. Demand remained solid across the board throughout much of the year, although inventory proved a challenge, particularly at the entry-level price points. With sellers firmly in the driver’s seat, the market experienced persistent upward pressure on pricing.
The construction sector remains a bright spot, with building permits on track to set another new record in 2013. More than $1.175 billion in building permits was issued in the first three quarters of 2013 alone. Spillover should continue into next year.
Renovations continued unabated, with plenty of money poured into older product. This trend is expected to gain momentum in 2014, with additions already commonplace.
Hamilton-Burlington is forecast to set a new record for annual home sales in 2014, with 14,300 units expected to change hands, an increase of 4.5 per cent. Average price should ease from 2013’s exceptional pace, but still exceed national house price appreciation, as values climb four per cent to push past the $400,000 threshold ($402,500).
Looking for a professional real estate agent in Burlington to help you with the selling or buying of your home? Contact Lori VanDinther – and let her help YOU make the right moves.