Tuesday, 2 June 2009

Getting Your Home Ready for Resale

Wo-Built: Getting Your Home Ready for ResaleCollage: Wo-Built: Getting Your Home Ready for Resale
Leave the house repairs to us, so you can do what is important!!!
Credit: MS Office ClipArt - j0430538

Recently while watching the news it was reported that a house in Leaside, Toronto, had sold for $100,000 above asking price. Even though the consensus is that the housing market is looking up, buyers are still quite conscious of the choices available in the market. It would therefore appear that the time to get your home ready for resale is NOW.

Consequently, a good renovation to the main areas of the house such as the kitchen, the bathroom(s), and the living room prior to putting your house on the market will increase the property’s appeal and possibly invite multiple bids.

The costs for the renovations do not have to break the bank. Much can be done by applying the right paint colors, choosing pleasing fixtures such as faucets, handles, knobs and other hardware for the kitchen and bathroom(s). Doing the proper maintenance of the exterior of the house as well as the interior is also a must. However, it is more than just staging of the house.

A proper cost and benefit analysis should be worked out prior to embarking on any improvements. The key is not to go overboard with any renovation to achieve the maximum return for your investment. A home inspection should also be done prior to listing, so that there are no surprises later down the road. This is especially important in cases where a larger cash outlay is proposed.

The key to getting the maximum return for your renovation dollar is proper design and some innovative thinking. A small budget can go a very long way into making some major improvements so that your house will stand out above the rest and perhaps inspire those multiple offers.

Martina Ernst
Wo-Built Inc.
links: Renovations and Recession
Wo-Built Is Launching a New Home Design Series Covering All Your Home Improvement Questions Improving Your Home's Resale Value
By Greg Sullivan Maximizing Your Home's Resale Value
By: Molly Bennett Renovating - HGTV Canada
Garth Turner's Blog - Greater Fool - The Troubled Future of Real Estate - The greatest fools

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