What is home staging?

Home staging is the design process of de-personalizing a private residence prior to putting it up for sale in the real estate marketplace. This is often achieved by re-arranging, de-cluttering and improving on certain items.

The goal of staging a home is to help it sell quickly and for the most amount of money by appealing to the largest amount of prospective buyers. Staging focuses on improving a home’s potential by transforming it into a ‘neutral’ property because the way we live in our home is completely different than the way we should sell our home. Staging creates a living space buyers can "see" themselves in, similar to how model home displays are presented.

Staging also helps create an environment that will lead a buyer’s eye to the home’s attractive features, while minimizing its flaws.

Many home-sellers agree that staging is a practical first step prior to selling any home, especially since the cost of staging a home is usually much less than the increased selling price often achieved from a professionally staged home.

April 9, 2008 in Curb Appeal | Permalink | Comments (0) | TrackBack

Market value boosting renovations

Whether doing-it-yourself or hiring a professional, interior painting, hardwood flooring and kitchen upgrades are amongst the top equity enhancing home renovations.

With Spring here(?) in Toronto - the busiest time of the year for home sales - homeowners may want to consider tackling some simple home improvements that will ensure their properties sell for top dollar. The Royal LePage Renovations and Returns Survey examines some top renovations that bring the best return on investment.

"Amid today's competitive real estate market, renovations offer a relatively affordable means to boost the value of a home," said Lisa da Rocha, vice president, marketing and sales, Royal LePage Real Estate Services. "Do-it-yourself tasks such as painting walls, changing cupboard knobs or laying new flooring will make a house not only more appealing to buyers, but also offer a great return on investment."

With the expansion of renovation chains across the country, and the proliferation of do-it-yourself television shows, it is no surprise that homeowners are tackling renovation projects now more than ever. According to Statistics Canada, renovation spending grew by 8.3 per cent in the fourth quarter 2007 to $9.2 billion, from the same period in 2006.

Added da Rocha: "There are some renovations, such as finishing a basement that a homeowner does for their own enjoyment without much concern for the return on investment. What we have explored within this survey are renovations that are intended to translate directly into enhanced equity in a property."

Reasonable and Radical Renovations

From simple aesthetics to washroom overhauls, here are the top renovations that will increase the equity of a home. The list is ranked in ascending order of cost of project.

1. Freshen up:

Adding a new coat of paint can freshen up a house and make the interior look like new - not to mention more spacious. For homeowners looking to sell in the near term, neutral colours are most preferred.

2. Floors galore:

Today, hard surfaces are all the rage. If genuine hardwood exceeds budgets, laminate works well. Buyers like to see hard floors throughout, so if possible, be sure to lay down laminate in dining rooms and living rooms, and even in bathrooms and bedrooms.

3. Lighten up:

Old or standard-grade light fixtures, electrical and light cover plates can easily date a house. To modernize, add distinct flair to the interior, consider installing new light fixtures. Remember to go green, and use compact fluorescent (CFL) light bulbs, where possible.

4. Pebble Beach?

Well, close: The old adage, you never get a second chance to make a first impression is extremely true when it comes to selling a home. To increase curb appeal and entice buyers, ensure front lawns are tidy and gardening is minimal. While there is no need to go overboard and plant an expensive Japanese Maple, adding some standard shrubs and flowers will make a home more inviting.

5. Stylishly steel:

Similar to the issue with old light fixtures, knobs, fume hoods and backsplashes can make a kitchen seem outdated. Sleek, stainless steel hardware designs have the biggest and most positive impact on those people looking to buy a home.

6. Opening all the right doors:

An elegant entrance enhances a prospective buyer's first impression of the house itself.

7. ROI from the ground up:

To see an even higher return on investment, replace old flooring with new hardwood. While a range of qualities, textures and colours exist, it's best to opt for a neutral wood colour to accommodate the widest possible array of tastes and décor.

8. White picket fence?:

Building a fence and a deck instantly boosts a home's appeal. Keeping kids and pets in the yard, and nosey neighbours out, fences provide the back and side yards with a sense of being finished.

9. Occupied, no more:

A bathroom situated on the main floor is increasingly seen by homebuyers as an essential feature in their next purchase. While many older homes were built with bathrooms only on the second floor, many homeowners are resorting to transforming closets or adding new rooms to accommodate two-piece powder rooms.

10. Exquisite en suite:

Today's homebuyer prefers bathrooms that have spa-style tubs and modern faucets. Granite and marble tiles are now readily available and can be purchased at relatively affordable prices.

11. Everything, and the kitchen sink:

While prices can vary when renovating a kitchen, one thing is certain - updated kitchens bring one of the highest returns on investment. With homeowners spending more time in the kitchen than any other room, it's no surprise they want the best possible style and functionality. Stainless steel appliances, ceramic sinks and clean lines on cupboards rank as the more preferred finish options. Since kitchens and baths can be such a personal space, it's wise not to select a dramatic style or colour scheme since your tastes may not be the same as the next owner.

For more on increasing the equity in your home, see »

March 21, 2008 in Curb Appeal | Permalink | Comments (1) | TrackBack

Enhancing curb appeal*

* the visual attractiveness of a house as seen from the street.

Job applicants are often advised to dress properly for that all-important initial interview. After all, they are told, you don't get a second chance to make a good first impression. The same holds true for people trying to sell their homes. Would-be buyers may not make up their minds based on curb appeal, but many don't even bother to come inside if they are turned off by how a house looks as they pull up to the front door.

In other words, all the emphasis on interior home staging — prepping a home's interior for maximum appeal — could be for naught if you ignore the home's exterior. You have only a few key moments to spark someone's interest, so it pays to put your best façade forward.

The good news is that you can beef up your home's exterior for less than $500 and a weekend's worth of time. And if you want to go whole hog by, say, replacing the siding, adding a porch or replacing your old, worn-out windows, you should be able to recoup most of your cost.

According to the 2007 "Cost vs. Value Report" from Remodeling magazine, a trade publication, the projects offering the greatest return on investment involved what could be called "curbscaping" — new siding, a deck and new windows. The payback for siding and decks was greater than that for remodeling a kitchen, and the payoff for replacing windows was just a few percentage points behind.

But you don't have to go to all that trouble to make your home's exterior more inviting. All it takes is a critical eye. In order to make a house appealing to prospective buyers, it is important to create attractive finishing touches that make it stand out from the curb.

For starters, take a step back. Walk across the street, turn around and look at your place from the wide view, searching for positive features that could be highlighted and negative elements that need to be hidden from plain sight.

At this point, it will help to take a photograph of your house, which can be used as a basis for the improvements you might want to make. But opt for black and white rather than color, the landscape designer suggests, because color can affect your perception of problem areas.

A fresh coat of paint is always a good idea. Nothing creates impact more than color. But because different people have different tastes, it's always a good idea to use neutral earth tones as the main color and stronger colors to accent, say, the doors and windows. Keep in mind, though, that two or three hues are usually enough to make a statement.

If painting the exterior isn't an option, painting just the shutters or front door to add a little pop. Or even the door and window frames.

The front door should be visible from the front street. If it isn't, consider adding an arbor or some other landscape element to point visitors in the right direction.

Because would-be buyers show up just as often after dark as in the daytime, replace your front-door light fixtures with new, brighter, shiny ones. Also, consider adding landscape lighting. And remember to keep them lit in the evening. You never know when a potential purchaser might drive by for a quick look.

If you have a front porch or stoop, clean or replace whatever furniture you might have out there, and put out some new throw pillows. Give visitors a place to stop and enjoy the front door.

Speaking of the front door, adding a new polished door-knocker is a good way to give your entryway a little character and charm. Accenting the doorway with decorative pots or planters also can add vitality.

If you have a garage, treat the doors in the same way. If they are in bad shape, consider replacing them. In some houses, garage doors take up half the front or more. The GarageWowNow.com website demonstrates how garage doors can spruce up curb appeal. And remember to keep the doors closed at all times so visitors will see the effect — not to mention to hide the clutter that is usually inside.

Don't forget the walk and driveway, either. They need to be clean and free of cracks. And put the kids' toys and the hose and other gardening tools away and out of sight.

Fresh grass or sod is another cost-effective way to dress up your home's exterior. Seeding is the least-expensive way to go, but it is more time-consuming than sod, if only because it could take several months for a mature lawn to grow in. Sod is a much faster way to go, but it is far more costly, especially if you have to hire someone to do the work.

Either way, though, make sure that you start the process long before your house is put on the market. The last thing you want visitors to see is a bunch of stakes and ropes that cordon off freshly planted areas and signs that warn folks to "keep off the grass."

Chances are you already have trees and shrubs, so you won't have to reinvest in those key design elements. If you don't, consider adding them. If you do, make sure they are trimmed and tidy. Fresh mulch will make them stand out even more, and remove dead leaves and debris that tend to detract from the overall effect.

If your house is going on the market in the growing season, adding flowers is another minimal investment with a maximum payoff.

Fences and gates are far more expensive, but they are an excellent way to frame your entire yard and set it apart from your neighbours. They also help differentiate between the public versus private areas of your home.

Before you start a project of this magnitude, though, it's always a good idea to reconfirm your property lines and clue in the neighbors about your plans. The last thing you want is to overstep your boundaries or anger the folks next door.

You can enhance your home's curb appeal almost instantly by:

For more ideas, see the Curb Appeals website »

March 12, 2008 in Curb Appeal | Permalink | Comments (1) | TrackBack

Virtual Curb Appeal

According to a recent survey by the National Association of Realtors, 91 per cent of home buyers used the Internet to search for available homes. If you’re a home seller, what does that mean for you? It means, that not only do you need traditional curb appeal, from the street, you need virtual curb appeal on the Internet. Buyers are making decisions on whether or not to even drive by you home based on how it looks on-line.

If you’re considering selling your house, one thing you might want to do is take a few pictures of the home yourself. Look at them through the eyes of a buyer. What do you see? Are they appealing enough to capture a buyer’s attention and compel them to look at your home?

Or if your home is sitting on the market with no showings, take a good look at the principal photo on the MLS. Does it look compelling? It may be time to re-assess your online curb appeal. The Internet is now the initial place you need to make good first impression.

March 11, 2008 in Curb Appeal | Permalink | Comments (1) | TrackBack

 

Thank you for visiting!