10 Cheap Home Staging Ideas

How much can home staging really help in selling your home? In the survey conducted by The Real Estate Staging Association, results showed that a staged home sells faster.

In the survey, written in the article of Wall Street Journal, the group studied 174 homes that had been on the market for an average of 156 days before owners decided to have them staged. After home staging, the homes were sold on average of forty two days after re-listing.

The survey conducted by the Real Estate Staging Association is also a way to show us the benefits of getting their services. Although, this study shows that home staging can help sell homes faster, another study showed that staged homes does not necessarily sell your home at a higher price.

While this is the case, it is still better than having your home sit on the market for a long time and home staging is not that expensive at all. Here are some tips on cost effective ways to stage a home for sale:

1. Turn on All the Lights

Your home will look dull and boring if it does not have enough lighting especially on a gray day. Add floor lamps to rooms that do not have enough light. You can also just borrow some table lamps from your friends and relatives to brighten up the rooms and to save some money.

2. Eliminate Clutters

It will be hard for your potential buyers to imagine living in your home if it is full of clutters. Make sure to de-clutter pictures, books, candies, clothes and other personal belongings.

De-clutter the bathroom and kitchens yet leave the necessities such as the hand towel and soap dish in the bathroom and coffee machine in the kitchen. The kitchen is often the main priority in the list of buyers so make sure your kitchen is open, clean and spacious as possible. Read More »

Investment Properties and the HST

Investors who bought new homes or condos in the past few years have faced HST bills up to $30,000 mainly due to their ignorance. In a nutshell, in order to qualify for new home (or condo) HST rebate, the new home or condo has to be either your primary residence or you must prove that you have rented it out for at least a year.

Now let us go into further details…

HST or The Harmonized Sales Tax (HST) was introduced in Ontario on July 1, 2010, combining the federal Goods and Services Tax (GST) with provincial sales tax into a single tax. Buyers pay HST on new units but not on previously owned units.

Often buyers of residential investment properties are not clear on HST. Based on the questions that I often encounter from my clients, here’s a most simplified explanation. Although care is taken to present all the information as accurately and efficiently as possible, readers are strongly advised to seek tax advice from tax experts and lawyers before buying any type of property. Please note that no representation or warranty with respect to the accuracy or the completeness of the information is given.

O.K. Are you ready to compare different scenarios/situations now?

Situation 1: Your intention at the time of buying a new home or condominium is making it as your primary residence. Then you or your close relatives move into your home on closing. In that case, you can apply for the full rebate immediately and HST rebate may not be added to your sale price. The builder claims the HST rebate on your behalf and offers you a lower price excluding HST rebate.

This type of rebate is known as New Housing Rebate (“NHR”). The NHR can be assigned to a builder from home purchasers on the unit/home sale closing. Read More »

5 Top Misinformation About Selling A Home

The internet offers an extensive range of tips and advice about selling a home. While, the internet age made it a lot easier to access information, not all information online can be regarded as true.

Using the wrong information can result to loss of time and money. Extensive research is vital when it comes to selling your home since this can help you separate the facts from myths. Here are the top 5 myths you should take into consideration:

1. Your Home’s Paint Colors Do Not Affect the Decision Of Home Shoppers

This is untrue. For most potential buyers, the thought of just moving to their new home already seems a daunting task. A home that does not have an attractive paint color may discourage a lot of buyers as they simply do not want to take on the task of applying paint on the home after the purchase.

This is why applying a fresh coat of neutral colored paint is important. As various potential buyers have diverse color preference, it is safer for you to choose neutral colors. In addition, these colors can help your property stand out especially online.

A fresh coat of paint is a worthwhile investment as it can help your home stand out in the crowd of competing listings. Hiring a professional to paint your home can be costly but can ensure the job is done right. If you are a do-it-yourself type of person and someone who is open to learning new skills then you can paint your home yourself. Doing it yourself will allow you to save a great deal of money.

2. Home interior is more important than the exterior

This is another misconception. The home exterior is equally as important as the interior as there are home shoppers that often make snap judgments, and is often based on a home’s exterior.

A lot of the current buyers get interested on a property after seeing it online or have passed by it. If your home exterior is unattractive and the driveway and yard is not maintained, there is a possibility buyers won’t bother looking into your home’s interior.

Improving your home’s exterior does not have to be costly. You can start by trimming the hedges, cutting the grass and removing all clutters. There are also some cheap add-ons such as cheap yet stylish porch lights, flowers as well as some fresh paint on your front door. Read More »