Spring is generally the most popular time of year to sell a house, with hordes of buyers looking to move into a new place before the school year begins. But if you decide to sell your home during the winter, experts say you could reap a reward in cold, hard cash.

“I have personally had my best months in real estate during the holiday season, so the idea that the markets are very tough to sell in the winter might be a myth,” says Emil Hartoonian, managing partner of The Agency in Beverly Hills, CA.

He's not the only one who believes selling in the winter can make you a real estate winner. Read on for the top reasons why you should consider unloading when the temperatures drop.

1. Low inventory = less competition

Since spring is the most popular home-selling season, the housing market is ultracrowded with options at that time of year. And if you paid attention during Econ 101, you understand the law of supply and demand.

“Most sellers still think they need to sell in the spring, but that means there is more competition for buyers' attention,” says Matt Van Winkle, founder of Re/Max Northwest in Seattle.

But in the winter, there are fewer homes for sale. That competition over low inventory can make winter an ideal time to sell your home.

“In the Atlanta market, January is one of the strongest months for homes to go under contract,” says Ally May of Atlanta Fine Homes Sotheby's.

2. You get to show your home’s winter-readiness

Selling in the winter also gives you the opportunity to show that a home is designed to handle the harsh elements.

“Sellers in places like Lake Tahoe can show off features like a south-facing driveway to speed up snow melting, how snow will fall off of a roof, a short driveway that will minimize shoveling or plowing, heat tape on the north side of the roof to avoid snow accumulation, and how recently the roof and furnace have been replaced," says Sandy Soli, regional manager at Engel & Völkers in Lake Tahoe, NV.

Plus, during winter months, homes with features like fireplaces and hot tubs are certainly more appealing.

3. New parents may be looking to upgrade

The baby boom in September may lead to more buyers later in the year. According to data from the Center for Health Statistics and the Social Security Administration, there are more birthdays in the month of September than any other time of the year. Therefore, there's likely to be a crop of growing families looking to buy a larger house.

"Once baby is home and settled, these parents may want to start the year in a new, and more spacious, family home,” according to Melissa Temple, real estate adviser and partner at Engel & Völkers in Aspen, CO.

4. Winter brings out the serious buyers

News flash: Not everyone looking at houses intends to make a purchase. Some people are contemplating moving and may just want to see what's on the market. Since more homes tend to go on the market in spring and fall, this is also when window shoppers are likely to be out looking.

However, these looky-loos tend to be scarce during winter months, according to Jennifer Baldinger, licensed associate real estate broker at Julia B. Fee Sotheby’s International Realty in Scarsdale, NY.

"When I have buyers looking for homes in January and February, they’re real buyers looking to make a purchase—especially if it’s a great house. They don't want to take the chance of waiting until spring and losing out on the home,” Baldinger says.

“There may be less people at these open houses, but I would rather have 10 real buyers come through than 20 people who are just curious,” she says.

5. Year-end financial bonuses and payouts

As a seller, year-end performance reviews could mean that more people have money to spend on a home.

“End-of-year financial bonuses or workers retiring with large payouts could mean opportunities for these buyers to upgrade their living situations or for first-time buyers to enter the housing market,” according to Temple.

6. Corporate relocation

You could also encounter buyers who are relocating for a job.

“One of the biggest months for corporate relocation is January/February, so those buyers, who need to move quickly, are out in full force looking for new homes,” Baldinger says.

Relocators typically have a limited amount of time to uproot their families and, as a result, don't have the luxury of spending a lot of time looking at properties. The kids need to get settled into school, and dealing with selling their old home can add another level of urgency and stress. So it's likely that once they find a home that meets their requirements, these buyers will be ready to sign on the dotted line.

Source: Realtor.com

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Sadly for all homeowners, prepping your house for the winter is just one of those things you can't skip out on. Though I wish I meant hanging holiday lights everywhere, decorating your mantel, and watching last year's Hallmark Christmas movies on repeat until the new ones come out, there's much more to it.

Unfortunately, this is not the fun list you'll want to check twice, but you simply must—despite how tedious the tasks may be. Between the money saved on electricity and future repairs, your wallet will thank you later. Here's exactly what you need to do in order to get ready for the cold weather ahead:

Weatherproof your doors and windows.

It's important to get ahead of the winter weather and make sure your home is ready to handle the cold to come. Check your doors and windows closely for gaps and areas that may cause a draft. Use weatherstripping or caulk to seal them up, or consider replacing the windows or doors if the problem is severe enough.

Reverse your fans.

Stephen Fanuka, host of Million Dollar Contractor, says turning your fans clockwise is a secret to saving money on heat in the winter since it will stop the warm air from rising, AKA keep it down where you want it to be. But how do you do this? Most ceiling fans have a switch that you can simply flip to reverse it—if the switch is not easily accessible on the outside of the fan, it may be somewhere inside.

Check for cracks in your water tank.

Another Fanuka tip is to make sure your hot water tank is crack-free. Chances are if you haven't installed one in 10-15 years, you'll need to replace it.

Clean your dryer hose.

Clogged dryer hoses pose huge fire hazards, in fact, according to the National Fire Protection Association, U.S. firefighters respond to approximately 14,630 house fires annually that were caused by dryers. Consumer Reports shares that you can prevent these house fires by cleaning your lint filter, emptying or replacing your dryer hose, and regularly checking the vent and exhaust.

Get an annual fireplace inspection and chimney sweep.

Similar to dryer hoses, clogged chimneys lead to house fires, but they can also cause carbon monoxide poisoning. Having a yearly inspection and chimney sweep may cost you money, but it could also save your life—so, make it happen. Additionally, make sure the flue on your chimney is fully functional so when the fireplace is not in use, you don't experience drafts.

Prevent pipes from freezing.

Two of Stephen's tips for the prevention of frozen pipes this winter include: (1) keep the heat on always and (2) let your faucets drip to keep the water flowing and make it harder for the water to freeze.

Bring the outdoors inside.

In case you didn't already do this before fall came around, be sure to move all outdoor furniture and appliances (grills, lawn mowers, et cetera) into your garage or shed as well as any planters you'd like to save through the season. Also, don't forget to turn off all sprinkle systems and unplug garden hoses.

Clean out your gutters.

Yes, this is a post-autumn activity as well, unfortunately, since it's best to avoid having any unnecessary weight from frozen leaves—in case the icicles weren't heavy enough as is. Emptying the leaves, dirt, and debris will decrease the risk of damage to your gutters.

Keep the heat on.

Keep the heat on always, Stephen urges. Even when you go away. By doing so you can keep your pipes warm and prevent them from freezing, while also saving money on having your heating system work extra hard when you return to bring the house back up to room temperature. Lowe's suggests updating your thermostat (if you haven't already) to a programmable version so you can set the house for one temp when you're home, and another for when you're away.

There are many views on the pros and cons of buying vs. renting your winter vacation home, and people are persuaded one way or the other for a myriad of reasons.

When it comes to buying, some people plunge right in and buy the first time they visit a destination on holiday. Others take a more cautious approach, renting for a few years so they can get to know a particular destination – and maybe even check out a few other destinations – eventually buying something when they decide on a place they want to return to year after year. Still others invest in a vacation home while they are in their 50s and still working, rent it out in the short term and look forward to using it for their own winters once they retire.

When deciding whether to buy or rent, make sure you consider all of the following benefits and drawbacks to help you make the best decision based on your needs and situation.

Renting a winter vacation home

If you're recently retired and just starting your search for a winter vacation destination that’s right for you, renting is definitely the way to go at first. Many snowbirds prefer the flexibility that renting allows and others don’t want the costs and responsibility of a second home.

The Pros of Renting

• You’re not committed to the same building, area or destination, giving you the freedom to move around from year to year.
• You can move around within a single winter season, trying out different destinations for a month at a time
• If anything needs fixing at the property, it’s not your problem!
• You don’t have the stress and headaches that come with managing a vacation property year-round
• You’re not responsible for the many costs associate with owning a vacation property such as taxes, maintenance, condo fees, utilities and more
• You won't have to consider the possible tax issues faced by Canadians who own and decide to sell their foreign real estate
• You don’t have top worry about estate planning and what will happen to your property after you’re gone

The Cons of Renting

• It is becoming increasingly difficult to find vacation rentals as demand increases due to so many people reaching retirement age
• Competition for rental units is fierce, so if you want to rent for a shorter period than someone else, you will lose out
• Rental rates are going up.  High season rents (Jan-March) are going up each year as demand increases. You can expect to pay anywhere from $1,500 U.S. to $7,500 U.S. and up per month. Beachfront and ocean view can be even higher.
• Rental units are rarely well equipped in the kitchen in particular, so you often have to bring a lot of your own gadgets and equipment or you have to buy locally
• Rentals offer very little date flexibility – they’re normally available for a minimum of one month, starting on 1st of the month and requiring you to vacate on the last day of the month.
• Rental units can often be “tired” in appearance and not freshly decorated or furnished.
• You’re usually stuck with basic cable and old tube TVs
• Many rental units often don’t allow pets

Buying a winter home

If you find yourself renting for 4 months or more in the same destination year after year, then experts agree you’d usually be better off economically by buying. Of course, to achieve this you either have to have the necessary capital or the means to borrow. 

While prices are generally on the rise, there are still a lot of bargains in both established and up and coming snowbird destinations across the U.S. Sunbelt and internationally. 

To fund the purchase of a U.S. winter vacation home, some snowbirds will use a line of credit on a Canadian property, some will use available cash or investments and some will work with their Canadian banks to arrange a U.S. mortgage or arrange a mortgage with a U.S. bank directly.   Remember, using a Canadian line of credit guarantees your payments are not subject to currency fluctuations, while U.S. mortgages can be tricky for Canadians and have exposure to currency fluctuations.

Regardless of how you fund the purchase of a winter vacation property, with prices rising there’s a good case to be made that an investment in U.S. real estate is a sound one.  However, before you buy there are many things to consider, not the least of which are ongoing costs, tax implications and estate planning.

The Pros of Buying

• It may even be cheaper to own, if you were a long time renter (4 months or more)
• When you own, you can come and go as you please
• You can choose a design you like and decorate to meet your taste
• You don’t have to worry about availability from year to year or stress about finding a rental
• You can leave your belongings there so you don’t have to bring or shop for them every year
• You can get specialty TV channels, Netflix and other services you like
• If you want, you can rent your unit out when you are not using it to bring in income
• You can take your pets (within the rules of your condominium or club guidelines)

The Cons of Buying

• You’ll be going to the same place every winter - a great comfort for many, but not for those with itchy feet!
• The dollar.  Currency fluctuations can play havoc with your budget for ongoing expenses and your U.S. mortgage (if you have one)
• If you want to rent out your unit, there could be tax implications. Be sure to get professional advice.
• If you sell your property, there will be U.S. capital gains tax consequences. Ask a lawyer for details.
• Dying can bring complications. You need to thoroughly understand U.S. estate law and what would happen if you or your spouse were to die while owning property in the U.S. Consult a legal expert on this.
• Costs! Depending on the type of property you buy, you will be responsible for maintenance costs, property taxes, utilities and homeowners insurance. Depending on the type of property you buy, you may also have condo fees and club membership fees.  Be sure to look at the Reserve Fund status of any condominium purchase and find out how financially viable the project is.
• You’ll need to hire a person or company to look after your property when you are not there

Source: Snowbird Advisor

Do you have a spare room in your home? Turn it into the ultimate kids playroom! Whether your little ones love to dress up, play with toys, or work on crafts, there are tons of playroom design ideas for you try!

Paint with Bright Colors

Color is key when designing a creative space that kids will love. Paint the walls with their favorite colors, an underwater theme, or a hand-drawn design for an eye-catching accent wall. Neutral colors are also great idea for those looking to style a modern playroom or who aren’t completely ready to take the plunge with bold colors. Just add some flair with a bright rug or pillows for that wow-factor.

Install Easy-to-Clean Flooring

Opting for floors that are wood or linoleum is a smart idea for spare room playrooms that might be prone to stains. If you’re looking for playroom flooring ideas that won’t break the bank or require much renovation, try foam flooring. It’s easy to clean, and it’s a fun way to add color and comfort to the room.

Decorate with Wall Decals

Interests, activities, and styles usually change as kids discover new things and get older. Stick-on wall decals are the perfect playroom decor solution for parents who want to create a cool space without having to commit to a specific wall color or theme.

Create a Chalkboard Wall

You won’t be afraid of your kids coloring on the wall with a playroom chalkboard wall! Kids and parents alike love this easy and fun DIY decor idea because it allows little ones to freely decorate the walls while giving parents peace of mind knowing that cleanup is easy and not permanent.

Add Toy Cubbies

Utilize vertical wall space in a new playroom by putting in a toy cubby! This is one of the best playroom storage ideas because it allows your kids to display their favorite toys and easily access any books, games, or play sets without having to dig through boxes in a closet.

Incorporate Cute Storage Bins

Kids room decorating ideas don’t need to be complex. With cute wicker baskets or patterned totes, you can get both fun designs and playroom storage. And if labeling isn’t quite your thing, color coordinate the toy storage bins to ensure your little ones can find exactly what they’re looking for!

Build Decorative Shelves

Floating shelves, free-standing shelves, and bookcases are all great playroom decorating ideas for changing up that spare room. Use them for toy and book storage, or display cute decorations like a framed picture, wooden trinkets, or vase of fake flowers to jazz up the room.

Set Up Cabinets

This playroom furniture idea lets you hide even the most disastrous of messes. You’ll have a home for items that don’t necessarily fit in storage boxes while keeping a clean and safe area. Use playroom cabinets to store board games, cards, construction paper, and any other craft supplies that need organizing.

Include Tables for Crafts

Whether you’re working with a large or small spare room, tables are a staple for any playroom. Kids can use them for craft projects, assembling racetracks, and putting together puzzles. Not to mention a playroom table is nice for having a place to enjoy an afternoon snack and juicebox!

Add Comfy Seating

No matter what playroom design you go with, seating that’s comfortable and easy to lounge on is essential. Keep it simple with a few small bean bag chairs and a fur rug, or incorporate a variety of fun pieces like floor cushions, a couch, and large stuffed animals.

Integrate Furniture with Storage

Functional and fun are necessary components when it comes to picking out kids playroom furniture. Ottomans with storage, hollowed-out benches, or benches with enough space underneath for baskets provide ample seating and help with playroom organization.

Create a “Nap Time” Space

A kids playroom doesn’t just have to be for playing games and pretending to be astronauts. Creating a designated nap space in a playroom allows your child to recharge and jump right back into their day of fun! Simply add a small daybed or large pillow with some blankets, and nestle it in a corner for a cozy space.

Display Kids Artwork

Putting your little one’s art projects on the wall is both a fantastic playroom wall decor idea and terrific way to show off their masterpieces. All you need is a few frames to keep the pictures in place and some hooks or nails to fasten them on the wall. For a more budget-friendly alternative, hang a wire clothes line or wooden hangers on thumbtacks to showcase new pictures frequently!

Create a Mini Stage

This children’s playroom idea is an easy project. The experienced carpenter will love this low-cost DIY playroom stage that requires some lumber, drywall anchors, and drapery panels. But if you’re looking for a simpler option, buy some cute curtains and a shower rod to install in a corner of the room.

Put Together a Dress-Up Corner

Let your kids transform from a wizard to a princess in a flash with a dress-up corner! Just add a metal hanging rack, some hooks, wicker baskets, and a mirror to any corner of a spare room, and let your little one’s imagination run wild!

Suspend a Swing

Looking for fun decor that will allow your kids to stay active even indoors? A swing should be at the top of your list! This unique feature is the perfect idea for an attic playroom, and it’s easy to install yourself. All you need is some industrial hooks, rope, and a sturdy board. (Make sure everything is properly supported!)

Toss in a Ball Pit

A mini ball pit is an ideal playroom addition that will turn any spare room into the cutest indoor attraction. Kids of all ages love this safe playroom idea, and it’s easy create your own with a baby pool and some plastic balls. You can even upgrade the size as the children grow!

Add a Cozy Fort

Having a fort that goes beyond blankets and pillows is a fun decor must-have for a playroom. Get creative with themed forts like an indoor treehouse, pirate ship, or castle. A teepee fort is an excellent alternative if you’re looking for playroom ideas on a budget.

Build a Playhouse Under Stairs

If you’re designing a basement playroom with your spare room, amp up the space with a custom a playhouse. Often, the space under the stairs goes unused, but you can utilize that vacant area by turning it into a custom playhouse kids will love!

Give Your Kids a Reading Nook

No kids playroom is complete without a reading nook. Add some floating shelves, fluffy pillows, a few blankets, and your tot’s favorite stories, and they can unwind with a good book after a long day of playing!

Invest in a Slide

An indoor slide is on every kids dream playroom list! Install a playground-style slide for endless thrills, or incorporate a miniature-size slide that’s cheaper and easy to store for more playroom space.

Source: SpaceWise

The Location

The Site

The Neighborhood

The Home's Curb Appeal

The Size and the Floor Plan

The Bedrooms and Bathrooms

The Kitchen

The Closets and Storage

The Windows and Lighting

The Finishing Touches

A home improvement project should upgrade your house with features that add convenience and extra functionality to your living space.

Too many homeowners, however, make the mistake of not adding home features buyers want the most when it comes time to sell their house.

It’s natural for anyone to look more to a home improvement project’s impact on their family’s life over the next 5, 10, or 15 years.

While you’ll get plenty of use out of the home upgrades over that period, casting an eye towards the future should also be a factor in your renovation decisions as well.

Choose home features buyers want and need

Certain renovation projects have a poor return on investment that can significantly affect the back-end value of your expenditure. Experts agree that for potential buyers, these renovations don’t add value to a home:

• removing closets
• converting the garage into a living space
• adding a sunroom
• turning a spare room into a home theatre
• adding a pool

These remodelling projects are considered too niche or just not practical for the average homebuyer.

And the first two examples completely go against the second-most important factor that goes into a homebuyer’s decision – available storage space. Not surprisingly, a home’s location was the most important factor.

Do your research to find out which home improvement projects provide a good balance of fulfilling an everyday need and will also be desirable in the eyes of anyone home shopping years from now.

7 of the home features buyers want the most

Certain home features buyers want the most virtually never change.

At the top of that list is storage space. Garage parking space and updates to kitchens and bathrooms also consistently rank highly with buyers.

We’ve looked at numerous studies, surveys, polls, and expert opinions to come up with a list of seven of the home features buyers want the most when they’re searching for a house.

1. Walk-in closet

A recent extensive Canadian Home Builders Association study found that a walk-in closet was the most valued asset of the 3,000 homebuyers surveyed.

A Braun Research survey of 500 realtors found that 97% of them said their clients valued closet storage space more than attic and basement storage space. And a 2013 National Association of Realtors survey shows that a walk-in closet in the master bedroom was the second-most important feature to homebuyers.

For many buyers, a large walk-in closet (also known as a dressing room) is an absolute essential. The absence of one may very well prove to be a dealbreaker for them.

A spacious walk-in closet doesn’t just provide a lot more space to store your clothes (although that’s one of its best benefits). They also:

• provide a private, relaxing space for getting prepared or unwinding after a long day
• make it easier to manage your wardrobe and keep it organized (saving you time)
• provide a stylish and elegant space to showcase your wardrobe and accessories

2. Energy efficiency

The 2017 Canadian Homebuyer Preference National Study shows that better energy efficiency is another of the top home features buyers want and will pay more for.

That Canadian Home Builders Association study also cited energy efficiency as one of the most desired home features for buyers.

This can include everything from a home having energy efficient appliances, energy efficient lighting, and modern windows and doors that will keep hydro bills lower. More energy efficient heating and air conditioning systems are also valued by homebuyers.

Buyers also place a higher priority nowadays on how well-insulated a home is. Are the attic, garage, and the rest of the home outfitted with high-efficiency insulation that’s actually been properly installed to deliver the best energy efficiency?

3. Master bathroom

Whether or not a home has a master bathroom is another important factor for many buyers. A master bathroom is defined as a bathroom with a sink, bathtub, and shower that is accessible from the largest bedroom (also known as a “master bedroom”).

The terminology for this room can vary. Some people may refer to it as an “ensuite master bathroom” or simply “ensuite”. It can also be written as “en-suite” (just to make things even more confusing).

When referring to bathrooms and bedrooms, you can expect to hear less usage of the word “master” in the coming years, however. Homebuilders and realtors are phasing it out due to the word’s negative gender and racial connotations.

Bathroom features buyers are looking for most are a custom bathroom vanity/makeup area, two sinks, and a separate shower enclosure. Forward-thinking buyers in their forties and fifties want the latter, in part because they’re considering its ease of use a couple of decades down the line.

Surprisingly, linen closets topped the list of the most desirable bathroom features for new home buyers surveyed in 2013 by the National Association of Home Builders.

4. Two-car garage

For both older homes and newly constructed homes, two-car garages are another feature buyers consider essential. 80% of buyers factor in the garage when making their decision, according to an Impulse Research survey.

And while that Braun Research survey found that 97% of buyers valued closet space more than attic and basement storage space, the garage ranked a close second. Realtors surveyed said that 96% of buyers valued the garage over the attic and basement as a home storage space.

Garages provide valuable storage space not just for tools and items there’s no room for elsewhere in your home, they also allow you to park vehicles indoors. That protects your sizeable investment in your vehicles.

There’s also the convenience of parking indoors. That’s why 55% homeowners use the garage as their house’s main entryway, according to a Chamberlain Group study.

Garage makeovers are also a hot home improvement trend. As Garage Living’s Linda Fiore Ceolin explains it, “There is so much potential in every garage space, large or small. More homeowners have realized the importance of upgrading their garage to make it a beautiful, functional extension of their living space.”

5. Hardwood floors

The National Association of Realtors survey shows that just over half of homebuyers are willing to pay more for wood floors. The main reasons are its contemporary look, durability, and how much easier wood floors are to clean than carpeting. 

Hardwood is most preferred, especially original hardwood flooring found in older houses, which can be a real home seller. Authentic hardwood flooring is easier to refinish compared to engineered wood flooring. It should also theoretically last a lifetime. 

Engineered wood flooring is less expensive and not as durable as original wood flooring. However, it does nicely replicate the look of hardwood with a hardwood veneer over layered fibreboard and structural plywood.

A higher percentage of homebuyers under the age of 54 look for a house with wood floors than older buyers. This is attributed to the fact that older generations tend to find carpeting a little cozier and warmer than wood floors.

6. Laundry room

Look at a variety of studies and surveys on the home features buyers want most and a dedicated laundry room will assuredly rank highly on most of them.

In fact, last year’s report from the National Association of Home Builders on the home features buyers desire most had “a separate laundry room” at number one.

92% of buyers surveyed considered a laundry room essential. An increasing number of homebuilders agree and are incorporating laundry rooms into their building designs.  

Those in the aged 35 to 54 demographic placed a high priority on having a laundry room. Millennials especially favour owning a laundry room, preferably upstairs close to a bedroom or on the main floor, off the kitchen. Space-saving stacked washers and dryers are also popular with younger generations.

Laundry rooms are considered a must-have feature for many buyers because of the convenience and high functionality they add to homes. A dedicated space to take care of all of the ironing, sorting, folding and other tasks that go along with laundry duty helps to simplify and speed up the process.

7. Modern/open concept kitchen

Concluding our list of the home features buyers want most is the open concept kitchen. Once again, younger buyers favour open concept kitchen designs more than baby boomers.

The Canadian Home Builders Association reports that 85-90% of consumers in Ontario and the Toronto area prefer this more modern type of kitchen design.

An open concept kitchen that includes a kitchen island and inclusive eating area is also considered an attractive selling feature, particularly to buyers with kids. 

Realtors and designers widely agree that modern kitchen updates yield better returns come resale time than a bathroom remodel.

Additional modern kitchen upgrades that appeal to homebuyers include:

• double kitchen sinks
• high quality stainless steel appliances
• walk-in pantry
• granite, marble, or quartz countertops
• stylish cabinetry with modern hardware

Do you have the home features buyers want most?

Is your home keeping up with the modern design trends that can make your life more comfortable and pay off when you sell your home?

Organized Interiors specializes in bespoke home organization and storage solutions for the entire home. We can improve your living space with many of the home features buyers want and need the most

Source: Organized Interiors 

Lately I’ve been quite impressed with the house prices in our area but at the same time know that if we sell the cost to renovate and buy weigh heavily on our minds.

Not only that but the real estate market in Canada might be hot right now but if you have renovating to complete that might set you back with missed money opportunities.

The top 3 questions next to time-frame that you need to answer before putting your house up for sale are;

1. Should we renovate our home to get better return?
2. How much will our renovation budget be?
3. Do we want to upgrade or downsize buying a new house?

WHO IS BUYING THESE HOUSES?

Most of the home buyers that have moved in are in their late 30’s and up with and without children. It’s near impossible for the Millennial generation to buy a house in Toronto most of which start in and around the million dollar mark. Most of these houses could do with upgrades and renovations which means more work and more money.

With University and College loans and a war of an employment market finances can become a struggle. If it’s hard to pay for rent you’ll never make it through a mortgage. This is why more and more younger adults are opting to rent instead of buy. They can’t afford it.

Everywhere we look house prices have skyrocketed especially in our area. In our net worth update you will see we have our house set at $365,000 but a comparable home just sold for $575,000 on our street.

That number would certainly boost our net worth over one million dollars however we know that we still have to live somewhere. Owning a home is like sitting on an egg and when it hatches you’ll either make a mint or cry all the way to the bank.

Even moving to smaller neighbouring cities might not get us much more than what we’ve already got unless we’re prepared to pay more. Living in a small village appeals to me more than the city but these days even the country properties are into the millions. Pair all of this with increased commute time and stress level waiting in traffic longer than needed every single day.

A fan wrote to me looking for some advice about renovating his house before selling it or just sell it as is? Let’s see what he had to say first.

RENOVATING OR RUN

Dear Mr.CBB,

My wife and I have lived in our house for 10 years now and have done minimal renovations. We bought the 4 bedroom 1500 square foot bungalow for near one million dollars knowing that it needed some work doing to it. We have 2 bathrooms in the house both with shower and a tub, single garage and parking for 2.

At the time the price was right and we needed somewhere to live close to work and renting was not something we wanted to. Sadly we know that was a silly mindset to cling to as it could have ended terribly had we not had a budget.

I’m the type of guy that fixes stuff as it’s needed or hires someone to do it. The other day my wife and I got talking about types of renovations we should complete before we put the house up for sale. We’re just not sure if we should bother with renovating the house or just sell it and move on. We’re in no hurry but the real estate market seems to be HOT in our area.

Ideally we’d like to move somewhere close to where we are now in a Toronto Suburb but somewhere cheaper. This means that getting the most out of our house when we sell it is important to us. What we’re not sure about is whether it would be worth it to renovate or let the new owners do this?

Do you or any of your readers have any personal experiences they want to share with us?

Thanks,

Craig.

Hi Craig,

First off, talk to you’re real estate agent and see what he/she has to say about renovating a house in the area you live in.

If your house has potential then I’d certainly invest in making sure that the key rooms in your home get a face-lift including a fresh coat of paint. Whichever rooms you want to renovate depend on your renovation budget plus your motivation.

Buying from big box renovation stores such as Rona, Lowes or Home Depot will yield you the more affordable kitchen and accessories. However, remember that what ever you spend on a kitchen, you’ll only see a certain percentage back from your initial investment.

Most people will shop at those stores when renovating their home. Don’t go to high-end stores to frost your renovations but keep the budget reasonable so that the new owner isn’t dealing with a crap job and paying for it.

Most of the houses around here have had minimal renovations and yet still yield sale prices higher than the original asking price. A hot market can pretty much sell any house.

RETURN ON INVESTMENT

In other words, Is It Worth It? Will you make any money back from it if not more is up to you and the real estate market at the time of selling.

Not one person I know wants to spend the time and money to renovate a house they want to sell unless they are trying to hook more money from the buyers. There are plenty of buyers who fancy a house renovated top to bottom.

Return on investment doesn’t just include the financial aspect of the deal either but also the physical investment. Renovating a house is not a small undertaking unless it’s a quick fix. When renovating the name of the game is to “Do it right the first time” however trusting someone else’s work is another story.

Not all home inspectors catch things that are wrong with a house during inspection nor do they check everything. There’s always that risk of buying a renovated lemon which has to be torn down and the renovating process to start over.

Personally, I’d like our dream home to be a dream project that I can get finished. If we had the money I’d rather go for a custom-built home from the get-go although I do like older homes but they come with greater financial risk depending on age and how well it was taken care of.

What does this mean for you?

This means that if you want to renovate your house before selling you have to face living through it not just once but potentially twice if the new home you buy is in need of repair. The main goal of renovating is to make money. How long are you willing to live through renovating and possible renovations of your new home?

There are many questions that must be answered BEFORE you sell and BEFORE you buy a house.

LIVING THROUGH RENOVATIONS

When you’re already living in the dwelling that you will be renovating there are inconveniences that you and the family would have to endure. This might force speed on renovating which causes mistakes to happen. They might not fail for you but the new home owner. If your renovation does fall apart you will end up paying for it twice.

• Noise
• Mess
• Dust

With contractors in and out of your house that turns into a mess zone with dusty air can become an environment you might not want to keep your family in. Some people move into their basements while the main level of the home is having renovations done. This is a great option but you’re still not free from the above inconveniences.

Opting to move into a temporary accommodation such as a hotel or short-term rental lease may be the ideal option. Keep these expenses in mind when deciding on your renovation budget. Don’t be in a mad rush to move in with family unless you’re prepared to deal with potential for arguments. It happens to the best of us although if rent is free or inexpensive that might be the best option for you.

HOME RENOVATIONS THAT ADD VALUE

Home improvements such as a garage addition, stamped concrete driveway, pool or even a metal roof might not bring you the return you were hoping for when you sell your house. What will sell your house is how big your property is and the size of your house.

You can easily add more money to your real estate investment by making the right moves when upgrading or renovating your home for sale. Not all renovating projects will give you a 100% return if any but there are certain ones that score bonus points with buyers.

Fix the obvious stuff if you really want to make an impact when the For Sale sign goes up.

What you want to avoid is overbuilding for your neighbourhood. Right now we have a friend who is struggling to sell a gorgeous home in an area with older homes. It’s clear the house is different because it’s still a young house and it looks out-of-place as it’s modern looking and bigger than every other home. This will be a home they will struggle to sell for that reason.

Now that we’ve seen what’s inside some of the homes on our street we know that the renovations we want for our home might be a bit much right now. We aim to keep it simple and save our money for renovating that appeals to us.

BEST TYPES OF RENOVATIONS

Enhance your home renovations by sticking to the main rooms that cause the most fuss for potential buyers. Almost every buyer gravitates to the kitchen and bathrooms. The flooring and tile work is another renovation that will not only bring the house to life but call on the buyers to bid.

The worst thing you can do is renovate a house to sell without keeping the renovations neutral or current. Any buyer will see that they will have to renovate again to update the house and honestly people don’t have the time nor money to do so. Don’t imagine living in the house dream about selling it and the green in your pocket.

Now that I’m a dad I’m struggling to get any renovating done around our house. Our son keeps me busy as does both my jobs. I could do some rush renovation to add more sex appeal to our house if we had to drop everything and sell it tomorrow.

Where the money is at:

• Kitchen
• Bathrooms
• Flooring

You will almost always recoup your money for the above 3 renovations for the competitive housing market in your area. If you over-renovate you risk recouping less money because your house compared to Joe’s house across the street where he renovated for half the price and selling for a high price-tag.

Catch my drift? Don’t emotionally invest in your renovations if you plan to move.

This is one of the main reasons your neighbours scout through open houses. They want to see what you did to your home and how much they need to renovate their own to see similar return if not more. Be mindful of the home renovation products used as well.

There’s no point buying hardwood to renovate the floors if the entire neighbourhood is laminate or carpet. Yes, you may get a bit more money but odds are you’ll get what everyone else is getting and that’s a comparable of the houses with laminate or carpet. Then again the right buyer might pay the extra for the luxury of hardwood. Will you risk it? Choice is yours.

Keep your dream home renovations for your final home and keep your nose out of fancy renovation magazines unless you’re prepared with a healthy renovation budget. What looks nice might not fit what everyone else has.

Quality home renovations don’t come cheap and if you do get an unusually low renovation estimate I’d put the brakes on and investigate further. If you have a carpenter, plumber or electrician in the family call on them maybe they can help you out for a discounted price or you could help them in return for free renovating.

RENOVATIONS TO DITCH

If you don’t plan to stay in your house stay away from invisible renovations and those that are custom to your home that will narrow your selling potential.

All those little fixes you do around the house likely won’t matter much. I won’t walk into your house and say oh look there’s a new furnace. These are more home maintenance types of renovation projects you will see limited return if any.

Blowing more insulation into your attic, installing new plumbing, duct work or other bits and bobs will likely go undetected when you go to sell your  home. Fix what everyone can see unless of course you must repair what you can’t.

Even then a massive landscaping project might sell a home but it won’t yield returns like other areas of the home. Spend your money wisely. I’m not saying to cover up repairs I’m simply suggesting that you to put your budget into areas that will make money for you.

Source: Canadian Budget Binder

Moving—like getting a tooth pulled or driving a very long distance through uninteresting landscapes—is one of those trials almost everyone must face. It’s sometimes unpleasant, it’s never exactly fun, but it usually leads to a positive outcome. Of course, particularly with moving, the success of the endeavor really depends on avoiding moving mistakes and planning ahead to make the process as smooth as possible.

Fortunately, and likely because almost everyone does end up moving at some point, there are plenty of tried-and-true moving tips out there to make the whole process easier. Following a moving checklist can help you make sure everything’s in order before, during, and after the move; another good moving tip is to commit to having a good attitude about all the change to come. Some moving tips focus on packing advice, while others offer reminders to cancel various services or arrange for things to be prepared at the new house; still more focus on smaller details, such as how to care for pets during a move or what to do when the movers are late. The most important moving tips, though, may relate to the physical move itself.

A lot can go wrong during a move. (A lot can go right, too.) With all the details and moving parts, there’s no one-size-fits-all guide with moving tips for every single scenario that could come up during the moving process. Different people will have specific needs or concerns—an antique china collection, valuable wood furniture, delicate heirlooms—that may require special accommodations, but for most cases, this general list of moving tips and tricks will help.

For more moving tips or advice for particularly stressful moving scenarios, turn to dedicated moving resources, such as The Art of Happy Moving by Ali Wenzke ($13; amazon.com). For now, take a look at these tips, and prepare for a smoother, quicker, easier move.

You finally did it! You found a great home in what seems like a nice neighborhood at, as far as you know, a reasonable price. Your offer beat out the competition, and now you’re under contract!

With the wheels in motion, you’re set to close on your new home purchase in just a few weeks. A lot will happen between now and then—some good, some not so good. The not-so-good can range from normal bumps in the road to homeownership while others are deal-breakers you can’t and shouldn’t ignore.

Here are four of the potential problems you could encounter—as well as your options if they crop up—plus some tips on how to avoid them.

Your Lender Has to Get “Creative” With Your Loan

If you made your offer on your new home before you were pre-approved for a mortgage, your bank will now begin digging into your finances to determine how much they’re willing to lend you. This could go really well, or it could go terribly wrong.

If you made your offer on an affordable home with a down payment of 10% or more, you’re probably in good shape to get approved for a 15-year, fixed-rate mortgage with a payment of no more than 25% of your take-home pay. Any other loan option is a no-go.

Too many buyers fall in love with homes they can’t afford. And lenders will do their best to “make your homeownership dreams come true” with rotten financing options like adjustable-rate mortgages or piggyback loans. Even a simple 30-year, fixed-rate mortgage is a rip-off that will cost you tens of thousands more in interest and keep you in debt for decades!

Ideally, you need to be pre-approved for a mortgage (not just prequalified) before you begin shopping for homes. That way you know your exact price range, and you won’t make offers on homes you can’t afford.

Your Home Inspection Reveals Extensive (and Expensive) Problems

Even if you’re already approved for a loan, the bank now has to be sure the home is a sound investment as well. That means a thorough home inspection by a licensed professional. Nearly every home inspection—even those on new homes—will turn up some issues. Most are minor and can either be ignored or resolved by further negotiating the terms of the purchase contract.

However, some issues like insect infestations or water damage are warning signs you can’t ignore. According to PestWorld.org, termites , for example, cause more than $5 billion in property damage each year, and the cost to repair that damage is not usually covered by homeowners insurance. In addition to any repair expenses, you’ll also need to pay an exterminator to eliminate the infestation. Chemical extermination can cost up to $3,000 for a 2,500-square-foot home on a slab foundation plus an ongoing $200 a year for annual maintenance services.

Costs to repair water damage can range from $100 to patch a small roof leak up to $70,000 for a burst water pipe, according to data from CostHelper.com. If the leak has been around long enough, you may have a mold problem on your hands too. Additionally, CostHelper.com reports the cost for a typical mold remediation project can cost between $2,000 and $6,000. For widespread damage, you could be looking at $30,000 or more.

Foundation problems and major electrical or plumbing problems are also expensive to repair and indicate the potential for ongoing problems with the home. As much as you love the home or the location, it’s usually better to walk away than to walk into a home with costly complications.

Your New Neighborhood Is Past Its Prime

Sometimes the first time you saw your home was also the first time you ever visited that neighborhood. Maybe you’re moving from out of town and you don’t know which areas are up-and-coming and which are on the decline.

Whatever the case may be, take steps between now and closing to make sure you’re buying a home in a quality neighborhood. Drive through on different days and at various times of day. Do people seem comfortable visiting together outside their homes? Are there kids running around? Is there construction going on nearby?

New shopping areas and expanding neighborhoods are signs of a healthy community. Go online and research the nearby schools and make sure this is a place you’ll want to stay long term. A great deal on a home isn’t worth it if the neighborhood’s in decline. But before you back out of the purchase, consult your real estate agent for their insight.

Your Appraisal Shows the Home Isn’t Worth the Price

There are many reasons why an appraisal might be low. In some areas, home prices are rising fast—so fast that the comparable home sales appraisers use to calculate a home’s value haven’t caught up. You may also end up with a low appraisal if the home you’re buying has features that aren’t typical for the neighborhood, like a basement or view.

But more often than not, a low appraisal is a warning sign you may be paying more than the home is worth. As a buyer, your lender cannot approve a loan amount for more than the appraised value of your home. If you do end up with a low appraisal, you have a few options:

• The seller can lower their asking price (hint: this is the least likely to work).
• You can challenge the appraisal or request a new one if it contains incorrect information.
• You can cancel the contract.
• You and the seller can meet in the middle with cash out-of-pocket.

If you decide on the last option, proceed with caution. You’re already making a down payment of at least 10% of the home’s price. Adding cash to make up for a low appraisal increases your risk since you’ll have to stay in the home longer for its value to recover. If you can’t negotiate a better deal with the seller, your best bet may be to let the home go.

Whenever problems like these come up, it’s best to have an experienced real estate professional on your side. Working with a real estate agent won’t guarantee a problem-free home purchase, but it will keep you from having to navigate those rough waters on your own.

Source: DaveRamsay.com

While most home buyers spend their time at an open house passively observing the layout of the rooms and the name brands on the kitchen appliances, smart buyers know the things that are really important to look for when buying a home.

In competitive markets, you'll often walk into an open house that has been deep cleaned, upgraded, and staged with stylish furniture, so you shouldn't be overly impressed by a house that looks and smells nice. (You can, however, be rightly appalled by a home that looks and smells atrocious.)

Think of the open house as a first date: It’s an opportunity to look beyond the pictures you saw online and figure out if the property is worth seeing again—or if you should move on and never look back.

Don’t let those freshly baked cookies or potpourri simmering on the stove fool you. The more aggressive the scent, the greater the likelihood the seller is taking precautions to mask a more offensive odor, says Denise Supplee, a real estate agent with Long and Foster Real Estate in Doylestown, PA.

"When there’s too much going on in the scent department—plug-ins, wax warmers, and candles, for example—I wonder what that overkill is hiding."

Take a deep whiff in every room you enter, and look closely at walls, ceilings, and flooring for signs of pet accidents, mildew, or smoke.

Red flag No. 2: Poor tiling

Inspect the tile in kitchens and bathrooms, suggests Eugene Gamble, a real estate investor and owner of WeFundYourFlips in Tampa, FL.

"If the gaps or tiles are slightly uneven, it may indicate a DIY job, which will make me think twice, especially if I know this house was flipped," he says. Lazy tiling could indicate that multiple fixes might have been done on the fly, which can add up to big bucks in potential repair costs.

Red flag No. 3: Foundation issues

Most houses have hairline cracks, which just indicate the house is settling into its position, but large gaps signal a bigger issue with the foundation, says Gamble. Other tipoffs: sticking doors or windows, visible cracks above window frames, and uneven floors. How do you know if the floors are uneven? Roll a marble from one side to the other. (This might be more subtle if you have kids with you.)

Red flag No. 4: Signs of deferred maintenance

"When I walk through a home, I look for signs that the owner might have neglected routine home maintenance,” says real estate agent Malcolm Lawson, with Keller Williams Select Realtors in Annapolis, MD. He cites issues such as burned-out lightbulbs, long grass, leaky faucets, or faded paint. “These signs indicate the seller may have ignored other ongoing home maintenance tasks that can cause real problems down the road.”

An attentive homeowner is going to flush the water heater annually, change air filters monthly, clean the chimney, inspect the roof for leaks, and regularly recaulk around windows and doors, for example, which will keep all those systems in good working order.

Red flag No. 5: Nearby water

That creek might look picturesque now, but it won’t when it comes cascading through your back door.

“The increasing unpredictability of weather means that it’s vital to consider the possibility of flooding,” Gamble notes. He’s seen people unable to insure their house against flood risk, which can create giant damage bills on a regular basis.

Red flag No. 6: Wonky windows

Take a second to pull back the curtains to check for lopsided frames, and then give the windows a tug to make sure they slide easily. If they stick, it could be a sign of foundation issues, as noted above, or just poor installation.

The only fix for that—and it’s an expensive one—is new windows, says Supplee, who knows from personal experience: “A home I purchased boasted ‘new windows,’ and it was only after living in the home for several months that I realized many had been installed wrong, and I had to replace them."

Red flag No. 7: Mold

To detect possible signs of mold while wandering through an open house, discreetly open bathroom and sink cabinets to take a look around water pipes or drains, suggests Frank Kirschner, a real estate broker in Fort Lauderdale, FL. Even small black or gray spots indicate that more serious issues may be lurking. You can also check the caulking around faucets and tubs for black spots, and look for patches on the ceiling.

Red flag No. 8: Water damage

A musty odor can indicate water damage, even if you don’t see standing water, says Supplee. Check walls and ceilings for water lines; they likely indicate flooding from a leak or a burst pipe that may have caused internal damage. Also, take a peek at exposed piping in basements or laundry rooms, and check for rust, water stains, or leaking, she suggests.

Red flag No. 9: Cosmetic enhancements

That one freshly painted wall could be an accent wall, or it could be hiding something like a patch of mold, Gamble cautions.

Supplee lifts up area rugs to check hardwood flooring, making sure they’re not stained or damaged by pets.

Red flag No. 10: Improper ventilation

Without adequate interior ventilation, moisture sticks around, which can create mold and increase allergies. The tipoff: Look for condensation on windows or slightly bubbled or peeling paint around windows, doors, or vents, says Kirschner. This can indicate moisture in the walls and ceiling drywall.

The bottom line: Don’t walk through an open house the way you walk through a museum, says Gamble. Even though your home inspectoris likely to detect many of these problems down the line, being attentive to these red flags in an open house ensures that you’re not wasting your time on a home that isn’t the one for you.

Source: Realator.com

Are you dreaming of improving your home, but you don’t have the budget to do major remodeling? If so, there’s still plenty you can do to scratch the home-improvement itch — and make your home look great.

Here are some cheap ways to spruce up your home for $50 or less.

1. Paint the front door

Painting your whole house? That’s an expensive project that takes time. On the other hand, painting the front door gives the front of your house a fresh, new look in one afternoon. Choose a fun, contrasting color, and don’t agonize too much over it. If you decide you don’t like the new color, paint the door again next summer, or next month.

If you want to try out a few colors before committing, Home Depot offers you can get free delivery of paint samples from The Home Depot.

In total, the project — including painter’s tape, a good paint brush, a quart of primer and a quart of exterior paint in your favorite color — should run you less than $50.

2. Add a bird feeder 

Add a bird feeder for your feathered friends to visit near a kitchen or living room window. You will find a range of options and price points. The one in the picture above by Perky-Pet promises anti-squirrel features — and that is key. After all, if left to their own devices, squirrels will consume all your bird feed.

3. Add path lighting

Add a little romance to your sidewalk or garden path with some solar-powered lights. The lights pictured here by Enchanted Spaces get high marks.

4. Replace the porch light

Has your affection dimmed for the porch light that came with the house? Or maybe it’s time to install an additional exterior light out by the back door or garage? The light pictured above is a shabby-chic barn style sconce.

5. Build raised garden beds 

Raised garden beds look tidier and create tiers for gardening on a slope. They also hold the good soil and retain more moisture. They are easy to tailor to the space you have and simple to build for the cost of a couple of boards, fence posts and some chicken wire. But you can also buy them assembled or ready-to-assemble in a variety of shapes and sizes like these at The Home Depot.

6. Insulate water pipes 

Admittedly, this upgrade is boring. But it’s easy, and it will save you money.

Insulate pipes that carry hot water through a cold basement or crawl space with pre-slit, hollow-core, flexible “sleeves” made of polyethylene or neoprene foam. Before shopping, make sure you know the diameter of the pipes you are insulating.

7. Dress up an old sofa

Give the couch new life by pulling a slipcover over its tired old self.

Wayfair.com has dozens of slipcovers in different shapes, sizes and patterns. If you can’t find a fitted slipcover that works on your sofa, don’t worry. Done well, a loose fit is timeless. Check Overstock and elsewhere for machine-washable cotton duck covers in many colors.

With any remaining cash, jazz up your new couch by making or buying some fun accent pillows.

8. Update cabinet hardware

If your kitchen and bathroom look dated but you can’t replace the cabinets, replacing the cabinet hardware gives rooms a new look.

Here are shopping tips:

• Remove one handle or drawer pull to see how many screws each uses and how far apart they should be. Your new hardware will need to have this same configuration.
• Before shopping, take stock of your room’s style. To avoid being overwhelmed by all the options, first browse home decorating magazines to identify the look of the hardware you want. For example, do you want pulls or handles? Sleek and modern? Old world? Recycled and eclectic?

There is a huge selection of pulls on Amazon (including the ceramic pulls featured above) and on Houzz. If you are looking for a vintage look or trying to match the hardware on an older house, check out building salvage stores in your area.

9. Add dramatic lighting

For a fun project that delivers instant drama at a low price, install flexible LED ribbon lighting under cabinets or shelves. For less than $50, you can get an 8-foot length of Armacost RibbonFlex Pro RGB LED tape light.

10. Make a Mason jar lamp

Mason jar lamps are trendy. A YouTube video by TheSorryGirls takes you step by step through the process of making one. Krylon, the maker of aerosol spray paint, provides instructions for painting Mason jars for use as light fixtures.

If a single-jar lamp isn’t enough of a challenge, and you have plenty of Mason canning jars, look for instructions online for making a Mason jar chandelier. Stick to using found materials to keep your costs down.

11. Install a front door kick plate

A kick plate is a broad strip of polished metal used horizontally along the bottom edge of a front door to protect it from scratches, kicks and dog paws. Kick plates are decorative as well as functional. Brass is traditionally used, but popular finishes now include antique brass, pewter, antique bronze and black.

Change your old kick plate for a new one, or install a kick plate if you haven’t used one before. After choosing a metal finish you like, use the same finish on all of your exterior hardware.

12. Paint exterior shutters and trim

A fresh coat of paint (or two) on shutters and trim provides a quick, easy shot in the arm for your home’s exterior. Paint all the trim or just the window trim. And if you are short on time or materials, repaint only the front-facing trim. It’s safest to use a color that’s already part of your home’s exterior color scheme.

13. Install new door handles

Put attractive new knobs or handles on interior doors and closets. For family members who are aging, arthritic or disabled, make life easier by replacing knobs with easier-to-grasp door levers like these from The Home Depot.

14. Make a new headboard

Craft a new headboard for your bed or refurbish your old one. If you scrounge for free and cheap materials, you can do it for less than $50. DIY Network has 15 ideas and photos for upgrading headboards.

15. Rearrange bookshelves

“Style” your bookshelves with artistic flare. Better Homes & Gardens has inspiration and tips. This is a fun, creative project, so spend some time and enjoy it. Among BHG’s tips:

• Treat each shelf as a display, and then stand back and make sure all shelves work well together.
• Position some items off-center on a shelf.
• Place some books in horizontal stacks and use the stacks as bookends for books shelved vertically.
• For a designer look, cover the inside of a bookcase with fabric or wallpaper.
• Don’t pack treasures and collections on every shelf.
• Pieces of pottery make nice, solid bookends.
• Stack a pyramid of books and put one of your favorite objects atop the stack.
• Use bookshelves as a gallery for framed photos or art.

16. Rearrange furniture

Ask someone whose home styling skills you admire to help you see your home and possessions in a new light. Stay open to change and new ideas.

17. Add container plants

New plants dress up your home’s porch and garden and create great curb appeal. You can start plants from seeds in the spring.

In autumn, dig a few of the more vigorous and prolific perennials from your garden and install them in pots. Ivy, a pest in gardens, looks terrific trailing down sides of planters, for example. Your local garden store or nursery may have a half-price area from which it sells cast-offs. Often, watering and care is all they need.

18. Install kitchen utility hooks

For a quick kitchen upgrade that you’ll enjoy daily, install a wall-mounted hanger. Use it for everything from dish towels and pot holders to utensils and measuring cups. You might even slip a recipe you’re using into a plastic ring-binder sleeve, add a ring clip and hang it for ready access.

19. Install new house numbers

Change your old house numbers. Find some new ones with an online search or at hardware stores. Or, shop for handmade numbers at Etsy.

20. Give light switches new life

Here’s how to give grimy old light switches new life: Toss the old covers out and treat yourself to new ones. For a fun project, cover some of them with decoupage.

21. Give your home a deep cleaning

If you’re stuck in a rut, try using Oprah.com’s checklist, timeline and instructions for deeply, thoroughly cleaning your home in eight hours. Oprah.com calls it “spring cleaning,” but don’t let that stop you from doing it now.

The psychological benefits of a clean home are immense, and you’ll feel wonderfully virtuous for doing it

Source:MoneyTalksNews

STEP 1 – Build a Budget

An effective budget will map out your plan to set aside money for your down payment and additional costs. It will also help determine the price of home you can afford.

STEP 2 – Investigate Mortgage Options

There are many different types of mortgages. If you don’t have the 20% down payment for a conventional mortgage, you can get a high ratio mortgage, combined with mortgage default insurance, that allows for a smaller down payment. You should be pre-approved for a mortgage before you start house hunting.

STEP 3 – Choose a Realtor

Your realtor will play a vital role in your homebuying experience. The best realtor will be a combination of a personal advisor, consultant and negotiator. He/she will show you homes that match your criteria, guide you through the homebuying process, negotiate the best possible price for your home and deliver your closing documentation.

STEP 4 – Get a Lawyer

It’s important to hire a lawyer who specializes in real estate. You could find yourself in a bidding war for the home you want, and it doesn’t hurt to have a lawyer look over any offer to purchase before you submit it. A real estate lawyer will also conduct a title search and check for outstanding taxes and liens on the property.

STEP 5 – House Hunting

• Create a wish list
  House hunting can be a lengthy process. To save yourself time, know exactly what you want in a home beforehand. Think about your immediate needs, future plans and lifestyle. When you look at homes, you may be tempted to concentrate on the home, but don’t forget to look at the whole property: the lot, the neighbourhood, the surroundings. How close is the home to facilities and services important to you?
• Bring your checksheet
  When you’re ready to begin shopping for a home – often called “house hunting”. You may end up seeing multiple homes in one day. This checksheet will help you compare and keep track of the homes you visit. And help you remember the features you did or didn’t like.

STEP 6 – Make the Offer

Your agent presents the offer to the seller. This document includes the price, conditions, deposit and closing date. The seller either accepts, rejects or counters the offer (also called “signing back” the offer).

STEP 7 – Home Inspection or New Home Warranty

Hiring an inspector is voluntary, but it’s a smart idea for resale homes. You can choose to make your offer to purchase the home conditional on the outcome of your inspection. If your inspection reveals major problems, you can negotiate those repairs with the seller before your deal closes, or legally withdraw your offer.

What is a New Home Warranty?

New Home Warranties are typically used when you buy a brand new home. The builder provides a New Home Warranty to cover things like deposits and completion dates, along with labour and materials for at least one year after the home was built. It also protects you against structural problems for a minimum of five years.

STEP 8 – Finalizing The Deal

Finalizing the deal will include the final approval of your mortgage, a meeting with your lawyer to finalize details like insurance and conditions, and the results of a title search.

STEP 9 – Moving Preparations

There’s a lot to do before you move. Line up utilities and other services like phone, cable and internet. If you rent, you must give your landlord notice. Also, forward your mail to your new address and hire a moving company. Preparing these things well in advance will help you make a smooth transition to your new home.

STEP 10 – Closing Day

This is the day you legally get possession of the house. Your lawyer completes the paperwork (so the home is in your name), payments are finalized and you receive the deed and the keys. Congratulations on your new home!

The power of scent can be simply captivating. It can evoke a memory, an emotion and attraction. Scents can also be used to help sell your home.

During an open house, a nice, subtle aroma can work wonders on potential homebuyers. Before you start baking cookies and pies, consider the fact that even sweet scents aren’t appealing when there’s a lingering odour in the house.

Start With A Deep Clean

Bad smells from pets, appliances, stale clothing and shoes can instantly deter, but so can lingering kitchen and laundry scents. Instead of covering up these musky odours, give your home a deep clean before booking your open house and don’t hesitate to toss those smelly items out altogether.

Once your home is clean, then you can start thinking of what scent to use to sell your home. Different smells have different effects on different people, but there are a few universally appealing aromas you might want to consider.

Don’t Overwhelm The Senses

But be careful, too much of a good thing can be very bad. Strong smells—even if they’re from our list—can be appalling to potential homebuyers. Scents should never be overpowering nor distracting. The last thing you want to do is make potential homebuyers feel nauseous while walking throughout your house.

Eric Spangenberg, former dean of Washington State University’s College of Business says the key is to stick with simple scents. In a 2012 study, Spangenberg compared the impact of a simple orange scent on shoppers versus a blend of orange, basil, and green tea. After 18 days of testing, Spangenberg and his team discovered shoppers in the orange scented store spent 20 per cent more than shoppers in the store with the blended scent.

6 Scents That Can Help Sell Your Home

Citrus

The smell of oranges isn’t just good for mall shoppers, according to an Australian report, the smell of citrus increases the value of a home.

Pine & Cedar

Fresh pine and cedar leave the home feeling (and smelling) crisp and clean. Instead of using chemical cleaners, incorporate a few branches into a centrepiece for a more authentic aroma.

Fresh Herbs

Not all herbs have a refreshing scent. Consider using mild herbs like basil and lemongrass to attract potential buyers.

Baked Goods

But not just any baked good, brownies seem to be a favourite for homebuyers.

Cinnamon

In keeping with the sweet scents, cinnamon is another favourite for homebuyers. After all, who can resist the sweet smell of cinnamon buns?

Vanilla

Vanilla is another fresh and comforting aroma that appeals to the masses. Consider lighting a vanilla candle in high trafficked rooms or misting vanilla essential oil around the house.

Most Disliked Smells

Just as smells can leave positive impressions, others can leave negative ones. Take roast chicken, for example, the value of a home decreased for potential buyers when this scent was smelled during an open house.

Source: Toronto Storeys

Build a DIY Deck or Patio

If you’re not sure where to begin with your backyard remodel, why not start with a deck or patio? This feature will instantly give your yard major appeal, and it adds resale value to your home. Lay down a concrete patio with this easy DIY project or build a wooden deck that you can adorn with cute chairs.

Lay Down an Outdoor Rug

Need something to jazz up your patio space without big renovations? Consider a large outdoor rug! Not only is this a good way to include a pop of color in your backyard, but it’s also an inexpensive way to change up a space without having to go through the process of painting or staining a deck.

Create a Stone Path

A garden isn’t necessary for this DIY backyard transformation idea! Put down materials like mulch, bricks, or stones to create a clear path from your house to the pool or playhouse in your backyard. You can also include a little flair to your pathway by adding yard decorations like glow-in-the-dark rocks or garden stakes.

Construct a Tree Bench

Utilize that big tree in your backyard makeover by building a tree bench! Some protective eye gear, wood pallets, and a saw are just a few of the items you’ll need for this crafty outdoor bench idea. When you’re finished, paint it your favorite color and add some decorative pillows for a shaded reading spot!

Set Up a Trellis

A trellis is an excellent idea for adding a little charm to your yard. Create your own trellis out of metal poles or wooden boards, and plant climbing roses on either side to grow a garden to new heights.

Create Shade with a Pergola

A pergola is a fantastic idea for your dream backyard. Clear out an area on a deck or in your yard and build your own pergola with this guide from DIY Network. Planning to spend a lot of time outside with your backyard remodel? Add curtains for extra shade to create the ultimate outdoor living room!

Invest in a Fountain

Need some ideas for a small yard? Invest in a fountain! These backyard items are great for adding a water feature to your outdoor space without costing too much or taking up lots of room. Tuck the fountain away in a small garden or place it on an end table to show off your decor.

Use a Stock Tank Pool

This outdoor feature is not only an inexpensive way to cool down during the hot summer months, but it also adds some backyard fun that the kids will love! Place it on a concrete patio or custom-built stone platform to protect your grass from water damage.

String Up Some Mood Lighting

If you’re looking to have one of the most beautiful backyards on the block, invest in outdoor lighting. Drape string lights down from a pergola or across your outdoor living space to give it a starry-night feel. You can also line any patio or garden path with torches and lanterns for soft lighting.

Get Crafty with Your Fence

Cool backyard ideas don’t have to be expensive to have that “wow” factor. All you need is a drill, several different sizes of multi-colored marbles, and a rubber mallet for this cute DIY project. Your backyard will be illuminated with color when the sun hits just right!

Paint a Fence Mural

Designing a unique mural on your fence is another great way to make over your backyard on a budget. Just be sure to determine what paints you’ll use and the scale of the mural first in order to properly prepare the fence for your masterpiece.

Grow Your Garden Vertically

Whether you’re looking to expand your garden without taking up horizontal space or searching for small backyard ideas, wall planters are terrific for changing your outdoor area on a budget. The experienced carpenter will love this custom DIY vertical planter. But if you’re looking for something simpler, drill plastic planter boxes or pots into a wooden pallet to place against your house.

Try Xeriscaping

Reduce water usage when you xeriscape your green space. This budget-friendly backyard landscaping idea is easy to do, requires minimum maintenance, and saves you on the water all while giving your yard major appeal and adding value to your property!

Make a Space for Outdoor Dining

If you love entertaining guests, having family barbecues, or working outside, then a table is a must for your green space! Buy a patio set that comes complete with table and chairs, or build your own outdoor table out of a few wine barrels and wooden boards for DIY yard decor.

Include Comfy Seating

Outdoor seating is one of the most important features to include in your backyard transformation. Large outdoor pillows, benches, and rocking chairs are all fantastic pieces to create a cozy space for you and your guests to relax. For a great cheap outdoor seating idea, make your own day bed with a wooden pallet.

Heat Up with a Fire Pit

The best backyard designs are the ones that include a fire pit! Show off your DIY skills by building your own fire pit out of wall stones with this simple tutorial, or find a metal one that’s also budget-friendly. Make sure that you include ample seating around your fire pit for roasting marshmallows!

Don’t Forget a Hammock

A hammock is a fun backyard idea that both kids and adults will appreciate. Suspend a hammock between two trees and fasten the ropes with either industrial hooks or tree straps. Affordable hammocks with stands are also an option if a sturdy tree isn’t available.

Create a Relaxing Meditation Space

Give your outdoor living space a facelift with a calming meditation space. Find a secluded spot in your yard and set up large pillows and blankets for lounging and a table for incense. If your relaxation station is near a tree, hang decorative ornaments or a swinging chair for some extra flair.

Set Up a Backyard Theater

Grab the popcorn and appreciate the outdoors with this backyard makeover idea. Add a few blankets, large pillows, and string lights for a comfortable theater ambiance, and hook up a projector and screen to watch all of your favorite flicks right in your yard! This DIY screen is a cheap and easy way to create the ultimate backyard viewing experience.

Flip Burgers in an Outdoor Kitchen

Let your backyard be the supreme spot for entertaining guests with a kitchen! There are plenty of ways to build an outdoor kitchen that fits within your budget. Add a charcoal grill and table on a patio for a simple look. Or install a kitchen kit under a pergola, which includes an island, grill, storage, and refrigerator.

Invest in a Portable Bar

Say goodbye to making multiple trips inside with a bar cart! Load your cart up with glasses, small appetizer plates, a pitcher for lemonade or water, and an array of snacks to have a convenient fueling station right in your backyard. And if it starts to rain, you can easily transport it inside to keep the party going!

Add Some Kid-Friendly Fun

Jungle gyms, swing sets, and treehouses are basically a backyard decor necessity when you have little ones. Create a tire swing with some rope, a sturdy tire, and pillow for added comfort. Or build a treehouse to give your children a playspace they can call their own.

Set Up Some Lawn Games

Complete your yard makeover by setting up lawn games. Croquet, bocce ball, ladder golf, and bucket ball are all awesome ideas for including recreation in your backyard green space. This DIY backyard project is a cinch and will provide immediate outdoor fun for you and your family!

Plant Bright Flowers

When it comes to simple backyard ideas on a budget, you can never go wrong with flowers. This is ideal for adding a natural pop of color to your landscape. Plant hydrangea bushes or tulip bulbs along the fence if you have a major green thumb. Or go to your local plant nursery and buy a few pots to fill with your favorite blossoms.

Whether you want to upgrade your yard with fun water features or create the perfect area to chill out, there are tons of cheap backyard ideas to make your outdoor living space a hangout spot everyone will love

Source:SpaceWise

Tackle some of your home improvement projects before you get settled into your new house.

You’ve just bought your dream home. Now’s the time to add some personal touches to make it your own, like painting the interior walls and installing new flooring. Most people complete these home renovations right when they get a new home. In fact, 53% of homebuyers took on a home improvement project within three months of buying, according to the 2013 Profile of Buyers’ Home Feature Preference report, put out by the National Association of Realtors (NAR).

Why not get started before you move in? An empty house means your furniture won’t be in danger of spilled paint or other damage — plus you or your contractors can take advantage of an open space. And most importantly, you and your family can limit exposure to renovation dust and odors that can be hazardous to your health.

So, as tempting as it is to move in right away, try tackling these three home improvement projects before the moving trucks show up.

1. Painting Walls
   Changing the color of the rooms in your home is a simple project that can personalize your home for little cost. But take precautions, warns Michael Anschel, owner of Otogawa-Anschel Design + Build and CEO of Verified Green Inc., a green consulting and training company, both based in Minneapolis.
   Unless you use low- or no-VOC paints, he explains, you are polluting the indoor air with volatile organic chemicals — such as benzene or formaldehyde — that you really don’t want to breathe in.
   “There’s a low-level smog that’s a byproduct of most paints,” Anschel says.
   Low- or no-VOC paints are available in many colors and price points, so making them a priority is easy.
2. Kitchen and Bathroom Remodeling
   Remodeling the kitchen is a priority for 47% of homeowners when moving into a new home, and 44% update the bathroom, according to the NAR report. There are many simple ways of personalizing and revitalizing outdated looks, like adding new appliances, countertops and vanities, changing out fixtures and hardware, or replacing or refacing the cabinets.
   But if you’re going to install new or refaced cabinets and you’re going to finish them on site, make health a priority. The formaldehyde used in cabinet glues will be released into your home (what’s known as “off-gassing”) for a long time, so choose cabinets labeled NAUF, which means “no added urea formaldehyde,” Anschel suggests.
   During finishing, contractors and homeowners should properly ventilate the house and wear a National Institute for Occupational Safety and Health (NIOSH) respirator — “not just a bandana,” he adds.
3. Flooring Installation & Refinishing
   In a new-to-you home, you might be lucky enough to find something salvageable underneath that old carpeting. But in many cases, the floor will need to be refinished. If you do it yourself, take precautions when prepping, sanding and applying the new finish. Open all the windows and put up barriers to contain dirt and debris for easy cleanup.
   Note that a water-based finishing system will produce significantly less smog than an oil-based system, which will off-gas for six months to a year, Anschel says. A water-based system, on the other hand, may off-gas for only 48 hours.
   If you’re looking for a rustic matte finish, try a Rubio Monocoat, he suggests. “It’s a floor finishing system that has no VOCs and is very durable.”
   If you opt for installing new carpet, be aware that it actually gives off a lot of fumes. “It’s one of the big nasties when it comes to off-gassing,” Anschel says. Look for wool as opposed to synthetics and a floor underlayment with low VOCs. If the house already has carpet, be sure to get it professionally cleaned (you don’t even want to think about the dead skin cells and mites that might be lurking within).

Moving can be stressful enough — make it less complicated by getting some of your home improvement projects out of the way before all the boxes and furniture get in the way.

Source:Sears Home