The spring market in Canada is starting to heat up with record low inventory. Buyers have started to come back, as for the first time in the last few months Bank of Canada has not increased interest rates.

In fact, Royal Lepage has adjusted their national aggregate home price forecast to increase 4.5% year-over-year in Q4 2023. This is an opportune time for home sellers waiting in the sidelines, to finally start getting their home ready for sale and look into renovations.

When selling the place you’ve called home for the past five, 10 or 30 years there is always one question that comes to mind: How do I get the most money back on my home?

How can homeowners increase the ROI, or return on their investment? There are a ton of tricks and tips to increase the ROI when selling a home, but the number one piece of advice is to look into hiring a Real Estate Agent.

The right Real Estate professional can assist in setting an appropriate asking price which is influenced by the season, annual trends, neighbourhood and amenities offered in the area. They can also help with other things like organizing showings, and offering invaluable advice about possible projects that can be completed to upgrade your home and also increase sale price.

Other ways to ensure you are increasing your investment in your home upon selling is by putting some money back into the house before the sale sign is even hung.

Who is buying?

Speaking with your hired professional and by taking note of the demographics in the area can help you determine your target audience. Who will be looking at purchasing your home? A young family? An expanding family? A couple looking to retire? Investors? Perhaps it is some people who are looking to flip the property?

Learning your target demographic can ultimately save you from investing money into big projects that will do nothing to return on your investment. “There are a lot of buyers who just want to buy a home that is turn-key. Updating rooms like the kitchen, will have the greatest impact for them. However, you need to know who your buyer is so the upgrades will align with their wants and needs.” says Terry Osti, award-winning, REALTOR® at StilHavn.

Web appeal is the new curb appeal

Forbes reports that it is just as important, or more so, to have a strong web presence when selling your home as it will bring interested buyers to the door. Senior director of PR at Realtor.com, Julie Renyolds told Forbes that ads featuring walk-through tours are clicked on 150% more than ads without them.

Curb appeal still a good investment

HGTV says that curb appeal is still just as important as ever. After all, you can only make a first impression once.

Ensuring cracks in sidewalks and driveways are patched, windows and doors are caulked and door knobs, locks and hardware are upgraded are low cost ways to boost the return on investment upon selling.

Taking that extra initiative and planting flowers and perennials in the garden can also have a lasting impression and increase the value of the home. Interior designer Brittany Farinas of House of One told Forbes.com that adding some greenery can give the outdoors a whole new look.

New siding, although a little more costly, is reported to rank high on the cost vs. value report according to HGTV. According to Forbes.com, homeowners can expect to pay between $1,000 to $16,000, depending on the size of the home and the type of siding material used, but it will not go unnoticed.

Sound structure is key

Interested buyers aren’t going to be as thrilled about an upgraded kitchen if the basement is flooding due to poor plumbing or cracks in the foundation.

HGTV says that investing that facelift money into ensuring the roof is in good repair, the foundation is sturdy, the furnace is functioning properly and all electric and plumbing is up to code will ensure the asking price won’t plummet in order to compensate for the necessary repairs.

Replacing windows can cost around $15,000 for a 2,000-sq-ft home with new vinyl windows, but RE/MAX predicts a return on investment of 75%.

Focus cash on bathrooms & kitchen

The kitchen and bathrooms are where a lot of time is spent in the home and architect Steve Straughan based out of Los Angeles’ KAA Design Group says they are the areas of the home that interested buyers can tell if money has been well spent.

According to RE/MAX, kitchen renovations such as countertops are one of the top three changes that lead to a high return on investment. Countertops can be expensive, but $3,000 stones such as granite or quartz can make a huge difference. To further elevate your kitchen, spend around $5-10,000 for stainless steel kitchen appliances. Kitchen renovations typically have a return on investment of 75-100%, usually the highest ROI.

Bathrooms can often always use a facelift — and, for certain, a deep clean. Every bathroom is different, but it is one of the main focuses that buyers look for in a home. Renovations can vary, but having a vanity with marble countertops or a frameless glass shower are elements that can draw buyers. A tip recommended by RE/MAX is to analyze your bathroom and figure out the strengths and weaknesses of it. A typical bathroom renovation is between $5-$15,000 and can have a return of 62%.

Updates and remodels should focus on creating open and inviting spaces and one of HGTV’s tips is to skip that soaker tub and put in a grandiose walk-in shower — or steam shower. After all, who really has the time anymore to take lengthy soaks often enough to justify the space the tub takes up.

Creating additional space

Does the home have an attic with dimensions that would allow the creation of an additional bedroom or office space? Can you extend the deck or create an outdoor living area or sunroom? Can the basement be finished and transformed into a cozy living space? Adding more functional spaces in your home can make it look larger and eliminate any unused spaces. Forbes predicts that the average cost to finish your basement is $22,850 in 2023.

HGTV says keep other homes for sale in the area and your target audience in mind because you don’t want to renovate your home to the extent that you price yourself out of your market.

Go Green

Concentrating on making the home energy efficient with better insulation, window and door replacements can not only increase your ROI when you sell the home, but you will also notice instant savings on your energy bills. By making such upgrades, AIC says the ROI is typically between 50-75%.

Plus, as of December 1, 2020, Canada has offered a number of grants for homeowners to make energy-saving upgrades.

At the end of the day, it isn’t always the fun and sexy renovations that add the most value to the home. Sometimes it’s the dirty work that goes the extra mile when selling. But, to make sure you are getting the best return on your investment, be sure to speak with a professional Real Estate Agent who can help answer any questions you may have along the way.

The post Renovating your Return on Investment for the Best Results first appeared on RankMyAgent - Trusted resource about Buying, Selling and Renting.

Of course, the best-case scenario is to wait out the storm and to move once we return to normalcy. However, this isn’t always possible. Maybe a deal is too good to pass up on. Perhaps you need to relocate due to a purchase-and-sales agreement. Or perhaps it’s for work. Whatever the case, it’s evident that moving from an old home to a new one during the Coronavirus era is not a choice for some people. At the same time, there is a way to make the move safely. In this article, we look at what moving companies and truck rental services are doing to help you during this time. We also provide some tips to reduce the chance of contracting COVID-19 in the process of your move. 

How Moving Services and Rental Businesses are Ensuring Your Safety

Moving Services

If you’re hiring a moving company for your journey, it’s still possible. Most provinces have deemed moving companies an essential service. Further, as the number of new cases comes down, we’re starting to see a lot of businesses open again. With that said, moving companies are not just going on business as usual. 

One of the most significant changes is a move from in-person tours to virtual tours for pricing estimates. In a usual moving scenario, the movers would come to your home and take note of all the furniture and fixtures that they need to move to your new home. This provides the proper information to know what size truck to bring in, how many movers they’ll need, and what you can expect as a cost. But due to minimizing physical interaction in a COVID-19 world, mover now asks you to aid them in a virtual tour of your home as an alternative way to make their pricing estimate. 

Movers are also taking precautions during the actual move. However, they are limited in what protections they can use. While it’s ideal that movers wear masks and gloves, this protective equipment can interfere with their work. Gloves can ultimately reduce a mover’s grip and increase the chances that they drop something. This can not only damage your item but also injure the movers. Masks can also reduce the mover’s ability to breathe. And when they’re moving heavy furniture, a good airway is critical to safely maintain enough strength to hold heavy fixtures. 

Movers are requesting that you leave a washbasin open to them. As we know, washing our hands is more important now than ever before. Informing movers which sink is available to them and leaving some soap and hand sanitizer can help protect the movers, your family, and others. 

To prevent spread among different movers, companies are staggering when their employees come into your old and new home to reduce the amount of contact. Moving companies may also limit each truck to two people. 

Truck and Container Rentals

Opting to move without a moving company can be a safer option because it involves fewer people you don’t know. However, you’ll likely still need to rent a truck or container. Companies such as U-Haul are taking strict measures to sanitize their vehicles. They disinfect everything from steering wheels, seats, and seat belts. Additionally, many have implemented six-feet distancing guidelines when individuals come to their stores. Online check-ins for some companies are also available to further reduce contact with any truck rental company staff. 

What You Can Do to Ensure a Safer Move During COVID-19

As mentioned before, if you’re using a moving service, one of the best things you can do is provide the movers with a washbasin and soap. But there are additional steps you can take to secure yourself and your family further:

• If you want to monitor your home as movers come in and out, limit it to yourself or to one family member. Ultimately, limit the number of people present. 
• If your movers are comfortable using protective equipment on the job, a poncho is an additional step to ensure that there’s even less contact between them and your items/home.
• Pack whatever you can yourself. This can limit how many people touch your possessions. 
• Ask your moving company what health measures they have in place. Ensure that they’re sanitizing their trucks and equipment and staggering their staff as they enter and exit your home. 
• Disinfect any hard surfaces. 
• Provide movers with precise instructions on the layout of furniture in the new house. This can prevent the amount of time they need to spend at the property. 
• Prepare separate bags with clothes that you can use for the first week at the new property. This can help prevent the need to open your other clothing boxes. 

Additionally, it’s common that you’ll want to declutter the number of possessions you have during a move. Although it’s commonly a great time to bring some no longer used items to a donation bin, the Coronavirus pandemic has resulted in the closure of donation bins. Friends and family may also be wary of accepting any second-hand items as a precaution. Therefore, many of your no longer used possessions may end up in a recycling bin or landfill. Although this is unfortunate, it’s part of limiting the spread of COVID-19. 

There’s no doubt we’ve entered a new normal. In an ideal world, try your best to delay moving until the situation gets better. But for some, there’s no choice but to move to a new location. If you’re in that situation, know that moving companies and rental businesses are taking measures to make your move as safe as possible. Additionally, your own precautions, such as preparing clothing and home layouts, can help reduce the chance of COVID-19 spreading. 

The post What You Should Know If You’re Moving During COVID-19 first appeared on RankMyAgent - Trusted resource about Buying, Selling and Renting.

Winter. Everyone’s LEAST favourite season. Well, unless you are an avid skier or snowboarder… or snowshoer, for that instance.

Whatever your winter passion may be, hang onto it, because for the rest of us, we just count down the days until that mojito finds its way back into our hands on a sunny patio.

There is one thing winter is really good for — and often overlooked — and that’s listing your home for sale.

“But there’s snow, and it’s all grey and yucky outside,” you might be thinking.

That’s right. There is. And, for the most part, other people who are looking to sell their homes are thinking that too. That means if you list in winter you are gaining a bit of an upper hand here.

You are getting a head start on those waiting for the turn of the season.

Basically, what I’m trying to say is by putting your home on the market during the colder months, you are lowering the number of competitors you are up against.

Here are a few tips and tricks you can keep in your pocket to prevent any more negative thoughts about this blessed selling season.

Keep it clean

Just as you would rake up leaves from your yard in the fall, or weed your garden in spring and summer, you must, must, must keep your pathways, driveways and sidewalks clear of snow.

Not only does this make it look like your home is well taken care of and loved, but it may save you from a lawsuit if there is a slip at one of your many showings.

No one likes to shovel, but you’ll have to stay on the ball over the winter months. Be sure to get out there after each snowfall. You may even have to get out there multiple times a day — unfortunately.

On the bright side, it’s great exercise — if that was something on your resolutions list. Or, if you can, hire a young neighbourhood entrepreneur who is looking to make a few bucks.

Use your listing to your advantage

When marketing your home online, photos are worth 1,000 words. However, when you are marketing your home in winter, those photos are suddenly worth a lot more.

Use your listing to showcase your home in other seasons as well so potential buyers can imagine themselves living there year-round.

Show off those photos you took last summer when your trees and flowers were in full bloom and the sun-soaked yard screamed for garden parties and late-night bonfires.

While choosing photographs of the home’s interior that were captured during winter, be sure to select those images that are drenched in natural light or are tastefully lit by lamps, candles and overhead lighting.

Use the calendar to your ‘advent’age

Do you see what I did there? ‘Tis the season to make spirits bright. That’s what we all look forward to during these frigid months, so use this! USE THIS!

Those holiday decorations will work double time to make your home stand out and emphasize just how cosy, warm and festive your home is — even during the darkest and coldest days of the year.

During home showings, have a nice fire going (if that’s an option, of course); have some goodies baking in the oven to trigger the olfactory senses, and adorn your tree with simple, festive and sophisticated ornaments that will allow guests to picture their own families enjoying the holidays here.

Turn the lights on

Have you ever been walking at night and caught a glimpse of a home with loads of light pouring out of the windows? How inviting does that look!

Lights not only make interiors look their best, but they emphasize those cozy undertones that we are after while trying to market a home during winter. So, flick on the lights. Up the wattage in your bulbs and invite some of that warmth into your home.

Don’t forget about your exterior lights as well. Illuminate walkways and pathways leading to your home for a warm welcome — and an extra safety measure for those slippery days.

Decorate with lights, too. That’s right. Create warm layers with lighting. Set up lamps to illuminate those dark, shadowy corners and take advantage of spotlights and LED strip lighting to direct attention to your home’s finest assets.

Don’t be afraid to use holiday lighting to your advantage here, as well. Tying into my last tip, those twinkle lights look fantastic both inside and out. So, bring ‘em in.

Show off the home’s winterproofing

Have you recently installed energy-efficient products that help lower your utility bills come winter?

Have you installed new windows, LED lights or a high-efficiency heating system?

Show these off to your potential winter buyers. These (mostly inexpensive) upgrades will be greatly appreciated by the next homeowner as they will reap the rewards for years to come.

Those looking to buy a home during the winter months are typically paying more attention and are more aware of things such as materials used in construction, lifespan and maintenance on the furnace and other winter-esque things that are vital for the upkeep and durability of a home after the first snowfall.

Listing your home in winter doesn’t sound all that bad now, does it? So, if you are looking to sell your home and you are interested in getting a leg up over the competition, do not fear! With these tools at the ready, you will be able to take full advantage of winter — and not just with a trip to the slopes!

The post 5 Tips to Sell Your Home this Winter first appeared on RankMyAgent - Trusted resource about Buying, Selling and Renting.