Most people renovate their homes for more space or more comfort. Some also remodel their homes in order to sell their property more quickly while getting the desired price for it.

But you shouldn’t start renovating carelessly. Follow these guidelines.

  • It would be irresponsible to carry out overwhelming work in order to sell your home quickly. Disaster will probably strike. Some upgrades, worth a few hundreds or thousands of dollars, should do the trick.
  • Check every nook and cranny in your home to find any defects. Neglecting this step might give the future buyer the wrong impression. Imagine if he or she arrives with a building inspector? Omitting to inspect your home is not the best way to go, even if you end up selling your property for the desired price. If the future homeowner ends up dragging you into court for latent defects, not only will you see your profit melt away, but your quality of life will diminish.
  • Start by facing your home and put yourself in the buyer’s shoes. Is the frontage appealing? Is the front door impeccable? A neglected exterior usually implies a careless homeowner in the minds of future buyers.
  • Go outside and walk around your property and think of the things that would bother a buyer and try to address the problem. For example, you live in a noisy neighbourhood because of the traffic. Find out how much building a green wall or a solid wall would cost to reduce the noise.

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Selling your home in less than a year and selling it for the desired price is the dream of every homeowner looking to sell his or her property. How to make it happen? Here is an overview.

  • The asking price must be reasonable from the beginning. Setting it too high in the hopes of making a huge profit is the worst thing you can do. All professionals will tell you: properties that have been on the market for too long frighten the buyers away. They’ll back off.
  • A classic way to set the asking price is to look at the selling price of the similar homes nearby. But, this method is not foolproof. The houses on the street may look the same, but you don’t know their history, their overall condition inside and out or the upgrades that have been carried out over the years.
  • The municipal assessment gives an idea of how much a house should sell, but this method has its limits too.
  • Avoid setting the price according to your own judgment. What if the house is worth more than you had guessed? Otherwise, be realistic. Your house is not a mansion.
  • The real estate broker is highly qualified to determine the selling price for obvious reasons. However, by doing business with an accredited appraiser, you’ll end up with an appraisal report. It will come in handy when negotiating with the future buyer.
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  • Once you have set the asking price, establish the lowest price you would be willing to accept. Your real estate broker will help you with this step.

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It is disruptive, bothersome, eccentric. Yet, there is a way to use red, the colour of love and joie de vivre, without overpowering a room. Let’s take a closer look.

Some rooms we’ve seen are entirely red, from top to bottom, including the furniture. They are, how can we put it, festive and flamboyant, but still bearable. Why? Because, different shades of softer and more subdued reds, like brick red or cherry red, came to tone down the fire-engine red, which dominated the rooms.

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Red has a striking elegance but can show restraint if used properly. A single wall painted in red, or even half a wall, can add a healthy dose of cheerfulness to a room without being overpowering. Red is so rich and upbeat. Why go without it?

A single touch of red can liven up a room, such as the back of an unglazed bookcase, the back of a dining room cabinet, the kitchen island or the backsplash under the cupboards in the kitchen, the steps of the staircase, the window curtains or bed curtains, the wall rug or area rug.

Red can also emphasize an object we are proud to own. For example, a bright red pillow placed on a prestigious sofa or armchair, a red base under a valuable trinket or a red fabric flowing down a magnificent wicker basket.[……]

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“There is never a single fixed price. Every property has both a floor and ceiling price,” says Patrick Juanéda, President of the Québec Federation of Real Estate Boards (FCIQ). On one hand, the seller wants to close the deal and obtain the amount closest to the ceiling price. While on the other, the buyer wants to pay something closer to the floor price. Irreconcilable differences? Not at all. Finding common ground is entirely possible, and that’s what successful negotiating is all about.

The power of negotiation

“The price is always negotiable,” says Mr. Juanéda. Expect the average reduction percentage to be from 2 to 3%.”

The real estate expert does stress however that each situation is unique: “If a house is listed at a “good price” (near the floor price) and it’s located in an active market (single family homes around $300,000, for example) overbidding can’t be ruled out. Do you really want to miss out to save a few thousand dollars?”

On the other hand, you have more room to manoeuver with a property that has been on the market for over six months and seen little activity.

Recognizing various scenarios forms the basis of any negotiation. A qualified real estate agent has the experience and instinct to guide the buyer. Without one, you’d have to study the local house listings and visit a lot of properties to develop a flair for negotiation.[……]

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It’s wrong to say that aesthetics and durability don’t go hand in hand. On the contrary! A green kitchen exudes warmth and cheerfulness, otherwise difficult to obtain. Here is an example.

Imagine a large floor made of natural linoleum, ceramic, wood, concrete or natural stone, like slate or terracotta. Just above are the cabinets made of solid wood, bamboo or wheat board panels. And plenty of natural sunlight is streaming through the windows.

Did you wince when reading the words linoleum and bamboo? You see, times have changed. Today’s linoleum is sold in many different colours and contemporary designs and bamboo comes in many various shades. Take some time to shop around.

The sink is in natural stone or stainless steel. The base of the kitchen island is made of wood, while the countertops of ceramic, waxed concrete, stainless steel or any other material imitating stone. On the wall, copper pans are hanging.

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Note that all the surfaces in the kitchen are made of durable, hygienic and easy to maintain materials. Three of the criteria that largely exemplify a green kitchen.[……]

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You’re on a tight budget and changing your home decor is not a possibility right now. Did you think about molding? It’s cheap, easy to install and it can transform the entire appearance of a room. Here are a few tips.

  • There is a variety of decorative moldings out there, not to mention various types of wood. Take the time to research: ask vendors, search the Internet or look through books at your local library.
  • To install baseboard molding, take the time to find all the studs behind the wall and mark them as you please. That’s where you’ll nail the baseboard and the moldings will fit snugly together.
  • Do you have to remove old molding? With a flat tool, pry the molding away from the wall by sliding the tool between the stud and the molding.
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  • Identify the areas where the floor is uneven before you install the moldings to avoid unpleasant surprises along the way.

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Review this checklist so the home you buy doesn’t break the bank.

Consider these 8 home-related expenses:

  1. Home inspection fee: Before closing, it’s customary for the buyer to hire a home inspector to confirm the home meets building standards and is “up to code” for that city. The inspection cost is based on the size and complexity of the home’s systems, but on average the fee should be between $375 and $500, according to our BMO Home Buyer’s Guide. You are responsible for paying this to the inspector. It’s a good idea to make your offer conditional, based on a successful home inspection. Sure, the house might look beautiful, but your inspector may detect structural or other problems that you can then negotiate with the seller to either fix or deduct the repair cost from the agreed-upon price.
  1. Appraisal fee: Your mortgage lender will require an appraisal (for example, the current market value of the home) before they’ll finalize your loan. Appraisals generally cost between $250 and $500, according to the Canadian Mortgage and Housing Corporation (CMHC), and you may have the option to roll it into your closing costs.
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  1. Utility bills: Unlike renters — who may have utilities built into their monthly rent payment — homeowners are responsible for all bills, such as water, gas, electric, home phone, cable and Internet. And this can add up faster than you may think. For example, keeping a home warm in the winter and cool in the summer can be pricey, depending on where you live. In fact, heating accounts for a significant part of the total expenses of Canadian households, according to Statistics Canada. Its Survey of Household Spending found Canadians spend an average of $1,895 on electricity, natural gas and other heating and cooking fuel a year. Need help planning? Use Natural Resources Canada’s home energy calculator to estimate how alternative energy sources and energy system replacements could potentially affect your energy bills.

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