29 Oct 2016

TORONTO REAL ESTATE HOME IMPROVEMENTS

A home improvement is an ideal move when planning to sell a home. It increases the value of your home by up to 10% more than it was before the improvements. An improved home is also more attractive and likely to sell faster than an older home. It is important to ensure that for before improving your home you consider the following factors to ensure your improvement is successful.

1. Study the housing market around that area
It is important to know how lucrative the real estate industry is before improving a home for sale. It is important because it determines how much improve the home to attract a good sale and make back what was used in improvement and value of the home.

2. Consider the homes in the neighborhood
Even a very improved home will not be able to attract a good amount of money if the homes in the same locality are not up to that standard. Buyers often look at neighboring homes and consider their prices to the listing price. Do not overly improve because it will only cost more money and not bring that money back during the sale.

3. How soon is the sale after improvements
Once the renovations and upgrades to the property are done, it is important to know how soon the house will be in the market so that the improvements cannot degrade in their value.

4. What is the sale budget and improvement budget

a. A clear calculation of what the home is expected to list for after improvements and how much the improvements are expected to take up is important to be able to know whether it is a profit or loss transaction.

b. Once all these factors are put into consideration and the homeowner is fully satisfied and wants to go ahead with the renovations and improvements, it is to their advantage that they:

c. Use professional renovators so that the improvement is done properly and all the necessary improvements are done.

d. Start the home improvements early so that they can take shape and see the transformation of the house. This also helps to do more.

e. Have a timeline that should be adhered to, plan when to start and the expected completion time to know how soon the house can be put on the market.

f. Stay in the planned budget. Once the home improvement budget has been drawn up, it is important to stay within the limits of the budget so as not to overly spend or veer off from the budget and do things that were not planned.

5. Areas to improve on:

i. Roofing

A leaking roof does not attract home buyers and neither does an old roofing system. It is important to start there and improve the roofing to something that is more recent and eye-catching to potential buyers. Research on the best roofing and on what owners are using to roof homes and what home buyers look for in roofing systems.

ii. Flooring

If the floor is squeaky, stained or carpets and rugs old and dusty, buyers will not make offers on this home. Change or repair the floors and get better flooring that is buyers’ preference in the market today. This adds value to the house and makes the home improvement worth it.

iii. Kitchen

So many people will not settle when it comes to kitchen areas. Everyone wants a cozy and classy kitchen and that is what should be included in the improvements. Upgrade the existing kitchen into one that takes the breath of homeowners that they cannot resist buying the house.

iv. Bathrooms
Bathrooms are an important area in home improving. Modern, clean and good bathrooms are able to attract buyers. Ensure that the bathrooms are up to code with the desires and what buyers’ look for in a home.

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