At some point in a homeowner's life, there comes the time to sell.
Maybe it's a transfer to another city. Maybe it's time to move up to something bigger as your family grows. Or maybe the kids have moved out and you need something smaller for your retirement. You are downsizing.
As a contractor, I've gone through this process several times with my clients. Homeowners only ever do this once, and it's one of the most difficult things to come to grips with. It's overwhelming for many people and emotionally wrenching to leave a home where you've created a personal history.
The key to downsizing is allowing yourself enough time by starting well in advance. Not planning on moving for two or three years? That's perfect; it gives you enough time to first de-clutter, then make necessary repairs, before you put your house on the market.
The best advice I can give is to de-clutter before starting any house repairs. Having your contractor work around furniture you're going to get rid of anyway just creates unnecessary delays and stress. Do yourself a favour: If you're going to get rid of furniture in the downsizing process anyway, get rid of it before you begin any repairs. If you're going to be passing on furniture and collectibles to family members, do it now. If you're putting things into storage, or donating to charity or selling it at auction, there's no time like the present.
Depending on the age of your house and how well it has been maintained, certain kinds of repairs or cosmetic updates might be needed to help the sales process.
For example, let's look at a house that's 50 years old. There's a trend to gut and modernize kitchens and bathrooms to make the house more desirable to prospective buyers. So a lot of sellers will spend money to do an inexpensive upgrade on their kitchens, hoping to get a better price.
I'm here to tell you that if you have a 50-year-old house, odds are, a prospective buyer is more interested that the house was built solid and has a big lot. In other words, presenting your house as a well-maintained 50-year-old house is more important than trying to disguise a 50-year-old house with some modern renovations.
From a buyer's perspective, she knows that any recent renovation is built into the selling price of the house and, given the choice, would prefer to do the renovation after the purchase -- to her taste and budget -- than get stuck with a brand-new kitchen that doesn't work for her on many levels.
So presenting your half-century-old home as well maintained might consist of plaster repairs to fix cracks from normal house settling, or fix any part of the house that shows more than average wear and tear. Let's say there is a vinyl floor that has seen better days. It's an easy upgrade that will help demonstrate that the house was well cared for, and won't blow anyone's budget.
When it comes to cosmetic repairs, there's one aspect of selling a home that always works: removing the layers of interior decorating to give the house an open, neutral look. This includes removing dated wallpaper, carpets and possibly draperies or blinds. That is tough to do for many homeowners who've spent the last 50 years maintaining, decorating and customizing their homes to their taste.
Painting walls and ceilings is essential in the repair and selling process. There are some other not-so-obvious benefits to painting. It neutralizes odours from years of smoking, or cooking odours and other smells that might draw attention. It's also one more way to demonstrate good effort in ongoing maintenance.
Generally speaking, if your home is in good repair, it will get a higher price (assuming the real estate market is healthy). If you've put in a new furnace, or repaired the roof or had the chimney repointed, that all shows consistent upkeep of the home and investment in the property. That's the really valuable evidence homebuyers should be looking at when purchasing a home.
What kind of repairs should you do before you sell your home? Well, that depends on your budget -- and your conscience.
I'm talking about "lipstick and mascara" -- the renovations that are coverups that are being done to trick the buyer. Yes, trick; that's the truth, isn't it? It's one thing to roll on a new coat of paint to freshen up a room; it's another thing altogether to put on a fresh coat of paint to cover up water stains on a ceiling that gives clues of a roof or flashing problem that needs repair. That's where the conscience comes in.
Unfortunately, in my experience, new homebuyers are often more impressed with the nice colours and scents that realtors suggest you fill your house with, or the staging that you might have had done, and, of course, by the new cupboard faces and granite countertop you had put in to spruce up the place. They aren't as likely to notice the less glamorous upgrades, such as closed-cell spray-foam insulation behind the mould-resistant drywall. (They can't see that, so take photos.)
-- Postmedia News
Catch Mike in his brand-new series, Holmes Inspection, airing Thursdays on HGTV. For more information, visit www.hgtv.ca.
Do you have a question about home renovations? Email mikemakeitright.ca.
