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Your Home Connection
printable version
Fall 2005
A R C H I V E S
In this issue
First-time Buyers Get a Break from CMHC
Marketing Your Home
Top 10 House Staging Tips
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Wow. What a Great Summer!
I hope your family had as much fun as mine did.
On a business note, I was very busy launching my web site. It is now up and running at www.nancymccabe.com. When you have time, take a look and let me know what you think.
Real Estate is still very active, and we will be moving into out Fall Market.
If you have any questions, please don't hesitate to call me.
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First-time Buyers Get a Break from CMHC
First-time homebuyers are key to fueling the real estate market. These buyers are also extremely sensitive to the costs of home ownership. The Canada Mortgage and Housing corporation's (CMHC) decision to lower the cost or mortgage borrowing for first-time buyers is a step toward ensuring that the supply of first-time homebuyers continues to be strong.
CMHC has lowered its mortgage loan insurance premiums by 15% for first-time buyers with less than a 10% down payment - a drop from 3.25% to 2.75%. This means that a homebuyer arranging a $150,000 mortgage with 5% down will save $750.
For more details on this program, visit www.cmhc.ca.
T O P O F P A G E
Marketing Your Home
If you're thinking of selling your home, you need a marketing plan. Just like any other product people buy or sell, a home's value must be communicated to the proper audience to ensure the seller gets the best possible price.
Marketing your home means more than putting up a lawn sign and sticking an ad in your local newspaper. You need to have a complete marketing plan that takes into account your home's unique qualities, your objectives as well as detailing the specific resources available to you.
Your planning should begin as soon as you choose a Realtor, and often even before that. Part of your marketing plan will involve pricing your property, deciding when to list it and what features need to be cleaned or repaired. At this stage, it is essential that you are completely honest with your Realtor about the condition of your home, your financial needs and any constraints.
Once you have the basic information established, you need to get to the "guts" of the marketing plan, or determine how best to let people know that your home is for sale and get them excited about it. You need to keep in mind when you are planning that there are two key target audiences: home buyers and other real estate agents. You will need different marketing vehicles and slightly different information to effectively reach each audience.
T O P O F P A G E
Top 10 House Staging Tips *
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Keep it clean
Look at your home as though you're seeing it for the first time. Is every room neat, spotlessly clean, dusted and uncluttered? Steam clean carpets and wax floors. Wash walls, heating and A/C vents and light fixtures. Pay special attention to your bathroom and kitchen - make sure that tile grout is mildew free and baseboards scrubbed. Clean the refrigerator and stove as well as the washer and dryer (inside and out).
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2
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Lose the clutter
Have a yard sale or take old furniture, clothing and knick-knacks to Goodwill. Organize shelves, put away items and purge your home of unnecessary items. Make sure that your kitchen and bathroom counters are free of small appliances and personal effects.
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De-personalize your home
Make your home "anonymous," so that buyers can envision it as their potential home. Put away any family photos, sports trophies, collectibles, knick-knacks and souvenirs. This will also help to remove clutter and create more space.
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4
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Freshen-up
Adding a fresh coat of paint and laying new carpet will clean and brighten up your home. Choose neutral colours and make it consistent throughout the home. If you choose to wallpaper, make sure that the paper is properly applied, your colour choice is neutral and patterns are kept to a minimum.
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5
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First impressions count
Like a first date or job interview, the first impression of your home is the most important. Walking into a home with fingerprinted screen door windows or cluttered entranceways, can influence the potential homebuyer's decisions. Likewise, strong odours can ruin a sale, so pay close attention to pet, cooking and cigarette smells in your home. Light delicately scented candles or have cookies baking when showing.
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6
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Curb appeal
Homebuyers decide whether or not to look inside a house by the appearance of your home's exterior. Paint or wash the outside of your home. Check your gutters and chimney and make necessary repairs. Keep your lawns trimmed and flower beds weeded. Use urns to define walk spaces and ensure that window boxes are full of healthy all-season plants.
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7
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Create the illusion of space
To make your home seem more spacious, it is key to de-clutter and re-organize. Start by removing excess furniture to make rooms feel more open and replacing any items that are not appropriately sized for the room. Clean and organize your closets and remove excess clutter from all areas of your home. Strategically placed mirrors can also help to create the illusion of more space.
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Modern choices
Ensure that the décor of your home is modern and tasteful. Use neutral tones on your walls and floors and add colour with removable items such as throw pillows or bedding. Steer away from too many personal touches to create a minimalist and contemporary space.
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9
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Doggie don'ts
"Love me, love my pets," doesn't apply when selling your home. Take your pets with you when your house is being shown, or at least keep them outside. Pets under foot will quickly put a damper on an otherwise positive showing. While making sure that your house is odour-free and spotless applies to everyone, pet owners need to take special care.
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10
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Beautify your backyard
Don't forget about your backyard. A house showing doesn't always end at the backdoor. Beyond size and layout, potential buyers can also be influenced by the state of your yard. Keep the lawn, hedges and flowerbeds manicured. Buy exterior storage containers to hide gardening tools, kids toys and pool supplies. Lastly, interested buyers may decide to look inside your shed, so make sure that it is organized and clean.
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T O P O F P A G E
* Provided by Timothy Badgley, Interior Designer and Owner of Acanthus Interiors
Not intended to solicit properties currently listed for sale. The above information is from sources believed reliable, however, no responsibility is assumed for the accuracy of this information.
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