What kind of homeowner are you?
Take the quiz and find out your personalized tips for preparing your home for sale.
1) After finishing your dinner do you:
a. Leave everything on the table and come back to clean up later.
b. Take the dishes off the table, put away the leftovers and pile the dishes in the sink or dishwasher for later.
c. Clean the table, put away the leftovers and wash the dishes right away.
2) Your home office has a desk that is:
a. Covered with papers, receipts and random objects.
b. A pile of stacks. There is enough free space to do your work and you can still find what you’re looking for.
c. Clean and neat. Everything has its place and papers are filed right away.
3) You’ve just finished your laundry, do you:
a. Leave the clothes in a pile on a chair. It’s easier to find them later this way.
b. Fold and put the clothes in any drawer with available space.
c. Fold and put away your clothes in their appropriate drawers.
4) In your household you have:
a. A dog or cat that is allowed indoors.
b. A smoker who often/always smokes indoors.
c. None of the above.
5) How do you accessorize your home?
a. I like to display personal mementos, souvenirs and family photos around my home.
b. I love decorative accessories and like to feature eclectic ethnic artifacts and antique items around my home.
c. I prefer clean and tidy surfaces and display few decorative or personal items around the house.
6) Which of the following best describes your home?
a. My home is eclectic and fun with bright colors and accessories throughout.
b. My home is traditional with warm paint colors and lots of dark wood.
c. My home is in a modern and simple style with neutral colors and few accessories.
7) Spring has arrived and your yard is in need of some maintenance, do you?
a. Rake the yard and generally get rid of debris.
b. Clean the yard of debris and mow the lawn.
c. Clean the yard of debris, mow the lawn, clear the weeds, apply fertilizer and plant new flowers.
8) Which best describes your home?
a. I haven’t had the time to properly decorate most of my home and a couple of the smaller rooms are used only for storage. Some minor repairs are still waiting to be done around the house.
b. The main areas of my home are decorated and furnished but I never got around to properly decorating and furnishing the basement or guestroom. Some minor repairs are still waiting to be fixed around the house.
c. I have taken the time to properly furnish and decorate every room. I have also undertaken several renovation projects throughout the years.
Give yourself a score of :
1 for every “a”,
3 for every “b”, and
5 for every “c” answer.
If your score is between 8 and 16, you need to roll up your sleeves and get working to prepare your home for sale. Based on your responses, your home will need deep cleaning and de-cluttering before showings start.
Deep clean your home making sure each room and surface is spotless. Make sure to remember your appliances and windows too.
Get rid of the clutter to allow buyers to properly see your home. Pack away unnecessary items and make sure counters and tables are free of appliances and personal items. If any rooms are used for storage alone, pack away the items and properly furnish the rooms. Don’t leave them empty as buyers will have a hard time visualizing living in a space without any furniture.
Put away collectibles and family photos to help de-personalize your home. Buyers will be able to imagine themselves in your space better without your personal items around.
Although your fun sense of décor and color may suit your personality, go neutral for the sale. Adding a fresh coat of neutral paint and getting rid of unusual accessories will ensure that your home appeals to a larger pool of buyers.
If pets or a smoker reside in your home, remember that you probably won’t notice the smell if you’re around them all the time. Have a trusted friend give you an honest opinion and deep clean to get rid of the odor.
And lastly, don’t forget curb appeal. First impressions count, and buyers begin to form an opinion as soon as they pull into your driveway. Keep your yard neat and tidy with your lawn and shrubs trimmed, and flower beds weeded. Store away your children’s toys and garbage bins, and give the exterior of your home a good wash or a fresh coat of paint.
If your score is between 17 and 32, there are a few easy steps you can take to make your home more appealing to buyers.
Clean your home from top to bottom, making sure you pay special attention to kitchens and bathrooms. Make sure to de-clutter and reorganize your home. Remove any excess furniture to enhance the feel of openness and space. Storage space is a top priority for buyers, so clean and organize your closets and storage areas. Get rid of anything you don’t need and make sure your closets are not overflowing with items.
Brighten and lighten up your home with a fresh coat of neutral colored paint. Soft neutrals such as pale yellows and grays can give a house a nice sophisticated look that appeals to most buyers.
Store away your eclectic accessories and create more room on your counters and tabletops. Your unique items may be an expression of your personality but they might also make it hard for buyers to visualize themselves in the space.
And last but not least, fix that leaky faucet and any other minor repairs that you’ve been neglecting around the house.
If your score is between 33 and 40, your home is in top shape and will only need a little bit of work to bring in that sale.
One great way to stimulate buyers’ imaginations is to set the scene. Put fresh flowers on the mantle and set the dining room table for a formal dinner. If it’s a cold day, light a fire in the fireplace. Look at your home through the buyers’ eyes and create an atmosphere that will help them envision themselves living there.
To further enhance your home’s curb appeal, spruce up your flower beds with new flowers and ground cover to give the home additional touches of color.
Thursday, February 25, 2010
Wednesday, February 17, 2010
First Time Home Buyers
Why buy?
Two out of three Canadian families own a home – that's one of the highest rates of home ownership in the world. And for good reason.
It's a great investment. And with increasing house prices over the long-run, it's all the more important for first-time buyers to get a foot on the first rung of the property ladder.
Did you know that...
Home ownership is the single largest source of savings for Canadian households. Unlike other investments, which can be quite volatile, the increase in the value of homes is relatively steady.
The average house price in Canada has increased every year since 1998.
Homeowners can use the equity in their homes as security for other loans.
Building equity in your first home is the first step on the property ladder. It gets you into the market, keeps you in touch with increasing house prices, and puts you in a good position to trade up to bigger and better houses as your circumstances allow.
Two out of three Canadian families own a home – that's one of the highest rates of home ownership in the world. And for good reason.
It's a great investment. And with increasing house prices over the long-run, it's all the more important for first-time buyers to get a foot on the first rung of the property ladder.
Did you know that...
Home ownership is the single largest source of savings for Canadian households. Unlike other investments, which can be quite volatile, the increase in the value of homes is relatively steady.
The average house price in Canada has increased every year since 1998.
Homeowners can use the equity in their homes as security for other loans.
Building equity in your first home is the first step on the property ladder. It gets you into the market, keeps you in touch with increasing house prices, and puts you in a good position to trade up to bigger and better houses as your circumstances allow.
Friday, February 12, 2010
Tips for Preparing Your Home for Sale
Detach your Emotions-
Remember, you are about to sell this house and the goal is to create a space in which as many people as possible will be able to envision as their potential home. To properly prepare your home for sale you will have to pack away many of your personal items, including photos, souvenirs and other mementos.
Clean and Reorganize-
Clean your home from top to bottom and make sure all appliances are spotless. Reorganize the closets and pack away some of your belongings. Storage room is a priority for buyers and a full closet does a poor job of showcasing the amount of storage room available. If you’re using a spare room for storage, pack away the clutter and ensure the space is properly furnished. .
Furnish Empty Properties and Rooms-
People buy homes not houses. Empty rooms make it hard for buyers to get a good sense of the space. Large rooms look cavernous and small rooms look even smaller when empty. Oddly shaped rooms make it especially hard for buyers to visualize how to arrange the room. Staging your empty property with the right furniture is key to ensuring that buyers will be able to visualize living in the space.
Brighten and Lighten-
Light-filled rooms are always appealing. Open blinds and make sure your windows are sparkling clean. If there are no windows in the room, make sure the lighting is adequate and keep all the lights on when showing the property, even during the day. A fresh coat of neutral colored paint goes a long way to brighten up the space.
Spark Your Buyer’s Imagination-
Set the dinner table for a formal dinner, light the fireplace on a cold day, and add some fresh flowers to your décor. Creating the proper atmosphere helps buyers envision themselves living in your home.
Fix Minor Repairs-
Buyers prefer to see a home in move-in condition, even small things such as a dripping faucet can detract from the value of your home.
Don’t Be Too Unique-
Keep your décor simple and modern with neutral wall colors. Unusual accessories and strong wall colors will limit your pool of buyers. This is also true for renovations. The right renovations can often boost the price of a home but be careful not to do it with too much flair. Your unique style may set you apart but it will also shrink your potential pool of buyers. Remember to keep it simple and modern.
Keep Your Neighbourhood In Mind When Renovating-
Actual returns on renovations depend not only on the renovations itself but also on how your home compares to your neighbours’. If your home is already above market value for your neighbourhood, your renovation may not yield a higher return. Buyers looking at moderately priced homes won’t be able to pay a premium for luxury finishes. Ask your REALTOR® to give you an assessment of homes in your area before embarking on costly renovations.
Improve Security-
Household security is a sought after feature in homes and simple measures such as adding window locks and motion sensor lights outside can boost the attractiveness of your property. In densely populated urban areas, simple additions such as blinds and shutters are good additions to provide privacy.
Remember, you are about to sell this house and the goal is to create a space in which as many people as possible will be able to envision as their potential home. To properly prepare your home for sale you will have to pack away many of your personal items, including photos, souvenirs and other mementos.
Clean and Reorganize-
Clean your home from top to bottom and make sure all appliances are spotless. Reorganize the closets and pack away some of your belongings. Storage room is a priority for buyers and a full closet does a poor job of showcasing the amount of storage room available. If you’re using a spare room for storage, pack away the clutter and ensure the space is properly furnished. .
Furnish Empty Properties and Rooms-
People buy homes not houses. Empty rooms make it hard for buyers to get a good sense of the space. Large rooms look cavernous and small rooms look even smaller when empty. Oddly shaped rooms make it especially hard for buyers to visualize how to arrange the room. Staging your empty property with the right furniture is key to ensuring that buyers will be able to visualize living in the space.
Brighten and Lighten-
Light-filled rooms are always appealing. Open blinds and make sure your windows are sparkling clean. If there are no windows in the room, make sure the lighting is adequate and keep all the lights on when showing the property, even during the day. A fresh coat of neutral colored paint goes a long way to brighten up the space.
Spark Your Buyer’s Imagination-
Set the dinner table for a formal dinner, light the fireplace on a cold day, and add some fresh flowers to your décor. Creating the proper atmosphere helps buyers envision themselves living in your home.
Fix Minor Repairs-
Buyers prefer to see a home in move-in condition, even small things such as a dripping faucet can detract from the value of your home.
Don’t Be Too Unique-
Keep your décor simple and modern with neutral wall colors. Unusual accessories and strong wall colors will limit your pool of buyers. This is also true for renovations. The right renovations can often boost the price of a home but be careful not to do it with too much flair. Your unique style may set you apart but it will also shrink your potential pool of buyers. Remember to keep it simple and modern.
Keep Your Neighbourhood In Mind When Renovating-
Actual returns on renovations depend not only on the renovations itself but also on how your home compares to your neighbours’. If your home is already above market value for your neighbourhood, your renovation may not yield a higher return. Buyers looking at moderately priced homes won’t be able to pay a premium for luxury finishes. Ask your REALTOR® to give you an assessment of homes in your area before embarking on costly renovations.
Improve Security-
Household security is a sought after feature in homes and simple measures such as adding window locks and motion sensor lights outside can boost the attractiveness of your property. In densely populated urban areas, simple additions such as blinds and shutters are good additions to provide privacy.
Friday, February 5, 2010
Your Mortgage (Buyer)
Find out about your mortgage options before you start looking. There's nothing more frustrating than falling in love with a home, only to find out you can’t afford it.
Pre-qualifying for a mortgage is the best way to find out how much you can afford. Your financial institution will look at your income, expenses and debt to determine how much they will lend you. Combine that amount with the money you have for a down payment, and that’s your budget.
Once you have pre-qualified, consider applying for a pre-approved loan. Then, when you find the home you want to buy, it will speed up the purchasing process. For more information about planning your mortgage, please contact Dominion Lending Centres Lakehead Financial at (807)624-2654.
Want to get an idea of how much you can afford? Try our Mortgage Affordability Calculator for a quick estimate.
Pre-qualifying for a mortgage is the best way to find out how much you can afford. Your financial institution will look at your income, expenses and debt to determine how much they will lend you. Combine that amount with the money you have for a down payment, and that’s your budget.
Once you have pre-qualified, consider applying for a pre-approved loan. Then, when you find the home you want to buy, it will speed up the purchasing process. For more information about planning your mortgage, please contact Dominion Lending Centres Lakehead Financial at (807)624-2654.
Want to get an idea of how much you can afford? Try our Mortgage Affordability Calculator for a quick estimate.
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