Saturday, January 26, 2013

10 Worst Home Renovations

Should you renovate your home before you list to sell?  It’s a difficult question to answer because a renovated home is more appealing and has the potential to attract a buyer, but a remodelled home doesn’t always repay the Seller totally for the work completed. 

Forbes recently published an interesting article on just how much you can expect to recoup when you invest in home renovations when you go to sell your home.  The article points out that Sellers can improve their homes for Buyers more efficiently-and more cheaply- by simply tidying up the rooms and slapping a fresh coat of paint on walls.

Personally, I believe the three things you should seriously consider doing to increase the appeal and value of your home include...  

  • Go overboard on the cleaning,   
  • Tidy up (Pack away things you don’t need -you've got to get rid of the clutter)
  • For dollar investment, consider a fresh coat of paint and if possible replace tired & outdated flooring.
If you have a question concerning your home please contact me.    


Tuesday, January 22, 2013

Home Ownership The Canadian Dream

Changing market conditions have triggered a shift in the Canadian homebuyer mix and mindset, a fact identified and confirmed by the RE/MAX Canadian Homebuying Trends Survey 2013-2014 released today. (January 22, 2013)

The national survey, hosted on the Angus Reid Forum in December, was conducted among 1,109 prospective purchasers who intend to buy within the next 24 months. From consumer demographics to buyer intentions, the survey provides a snapshot of Canadian homebuyers heading into a period of moderation.

Canadian homebuyers more experienced,
 financially prudent moving forward, says RE/MAX

Tighter mortgage lending rules, in conjunction with the fallout of the US housing meltdown and the European debt crisis, have triggered a shift in the Canadian homebuyer mix and mindset.  The new Canadian real estate consumer is experienced, fiscally-responsible, and ready to move forward over the next 24 months.
That’s the takeaway from the RE/MAX Canadian Homebuying Trends Survey conducted among more than 1,100 prospective purchasers late last year.
 National findings include:
·         Almost one in five purchasers is single
·         More than two-thirds are second or multi-time purchasers
·         Four out of 10 purchasers between the ages of 18-34 have a downpayment of 20 per cent or more
·         Just over 80 per cent of buyers believe housing values in their area will rise or remain the same
Changing market conditions have clearly prompted the shift in the homebuying activity from coast to coast.  Once dominated by first-time buyers, the survey found that second and multi-time buyers will lead the charge for housing over the next two years.  Experienced purchasers now represent 70 per cent of homebuyers, while first-time buyers are sitting at 30 per cent.
Spending will be reined in—with 38 per cent of purchasers indicating they’ll spend under $250,000 and 42 per cent indicating they will spend between $250,000 and $500,000. In Ontario, fewer buyers will fall under the $250,000 price point—at 31 per cent—and more buyers will be active between $250,000 and $500,000—45 per cent.
Greater fiscal responsibility is evident across the board.   In fact, 40 per cent of younger purchasers, aged 18 to 34, are expected to put down 20 per cent or more.  Serious equity gains have been a contributing factor.
Consumer demographics continue to evolve, shaped by new realities. Single buyers have emerged as a force in the market, representing almost one in five purchasers.  Forty-Five per cent are female—a stat that truly demonstrates how far we’ve come, as the number of successful, young female professionals entering Canadian housing markets climbs. 
Confidence underpins the Canadian housing market, with 83 per cent of purchasers believing that housing values in their area will rise or stay the same over the next 12 months.  Homebuyers were most bullish in Ontario, where that figure rose to 85 per cent.  Optimism in the province continues to be propped up by sound real estate market fundamentals and an improving economic outlook.
While the homebuying mix may be different, the mantra is the same.   Homeownership remains a key component of the Canadian Dream.  It’s a common thread among all Canadians—a goal to which we aspire—and that’s not likely to go away anytime soon. 

Saturday, January 12, 2013

How About Two Master Bedrooms?

The National Association of Home Builders predicts that by the year 2015 the demand for two master bedrooms in upscale homes will increase significantly.  

Why two master bedrooms? 

People are "tired" (like that) tired of not getting a good night's sleep because their spouse snores or flops around in bed.  People are becoming so desperate for a good night's sleep that they are now seriously talking about separate bedrooms.  When that time comes, who gets the spare room and who gets to keep the nice master bedroom?  That's where the idea for two master bedrooms in a home is gaining steam.

It's estimated that between 75% and 80% of adults have sleep problems like snoring or waking up during the night.  No longer is it a strange thing for happy couples to discuss splitting up, at least for the night.

A night-time separation can be a good thing.  For starters, besides not feeling tired the next day some sociologists report that couples that go for separate bedrooms actually have a more romantic relationship because an invite from a partner to join them in their bedroom for a night adds extra spice to the love life.  

Canadian Living reports the following added benefits from a good night's sleep:

  • Stress Reliever
  • Aids Anti-Aging
  • Better Performance and Energy
  • Better Health

The National Association of Home Builders predicts that by 2015, 60% of custom homes will have two master bedrooms. In fact, even today many builders report that 25% of custom home orders request two master suites.

Here's a question for you.  There are two identical homes with only one difference, that being one has two master bedrooms.  Would the two master bedroom home be your first choice based on getting a good night's sleep?