Home News – Spring 2016

cropped-young-couple-in-front-of-home-2-e14047757441211.jpg Style updates for your home

There’s an old saying that you never get a second chance to make a good first impression. This is particularly true of real estate, when prospective buyers usually make a subconscious decision about a property within the first few minutes of walking in the door. Whether you’re selling your home, thinking about it, or just looking to update your home’s appeal without breaking the bank, here are a few low cost but high impact ideas to create a fresh look for Spring.

Less is more: A great way to make your home feel welcoming to visitors is to create an environment similar to that found in a model home. The look is simple, with clean lines and bright, roomy interiors free of clutter. You can create a similar look by reducing the number of non-functional items you have in sight throughout your house. Less is more, and that applies to everything from furniture right on down to those coats you have hanging up in plain sight. A simple rule of thumb is, if you haven’t used it in over three months, you probably don’t need it. Pack it up or give it away and make some space.

Keep your base colours neutral: Thinking of repainting? If you’ve visited a model home, or looked through some decorating magazines, you’ll notice that the décor is often neutral, using soft, light colours to create a feeling of spaciousness. Strong colours should be limited, such as on just one accent wall.

Welcome spring with a splash of colour: With a neutral backdrop, it makes it easy to introduce small accents like throw pillows, area rugs or artwork to add a splash of colour, which can easily be changed with the seasons. Why not welcome spring with some bright shades, like orange, yellow, or green. Just a small splash of colour will make your room ‘pop’.

Want more home style remedies? Ask your Coldwell Banker professional for their expert advice on how to showcase your home to its best advantage.

upward forecast Canadian real estate forecast revised upward

There’s an active national market on the horizon for Canadian real estate this year. At least, so says the latest industry forecast. The Canadian Real Estate Association (CREA) has upwardly revised its 2016 national forecast for MLS® sales and issued a positive forecast into 2017.

The CREA quarterly forecast issued March 15th now predicts that national MLS® sales activity will rise by 1% this year, to reach 511,400 units sold. Sales are forecast to continue at a similar pace next year, with only a 0.4% increase, to reach 513,400 units sold next year.

Property values are expected to continue their upward climb nationally, reaching a national average of $478,100 in 2016. The forecast calls for an 8% increase over last year, led by very strong price gains in Greater Toronto and Greater Vancouver. According to CREA, the national average home price is expected to edge higher by another 1.1% to reach $482,500 next year.

According to CREA, the good news is interest rates are widely expected to remain low, with lending rates expected to rise no earlier than the second half of 2017.

Of course, this is just an overview of the national picture. Home prices can vary dramatically between communities, within neighbourhoods, and even on the same street. For a more detailed look at home sale activity and resale prices in your area, contact your local Coldwell Banker real estate professional.

kitchen improvements Cost effective kitchen improvements

Spring is a time for rejuvenation, and that includes your home. Investing in a few well-conceived but affordable improvements could potentially pay you big dividends not only in terms of your own enjoyment, but also in improving your resale value. The big question is:Where to spend the money?

The kitchen is normally the focal point of any house. As such, improvements to this area are a good choice both in terms of quality of life and for resale value.

As a general rule, the more visible an improvement is, the better your chances for a good return on your investment at resale time. For example, mentioning you have a new water heater won’t have the visual impact of a new tile backsplash — even if they cost the same.

If your kitchen layout is good and doesn’t need to change, then re-facing your existing cabinets is a lower cost option than replacing all your cabinetry.

For the more budget conscious, a fresh coat of paint is one of the least expensive improvements that can refresh your kitchen’s look. In fact, dollar for dollar, a fresh coat of paint can deliver one of the best returns on your investment. So, why stop with the walls? Painting your cabinets and replacing handles with updated hardware can revitalize the entire look of your kitchen.

Thinking of a new floor or tile backsplash? Installing flooring or tiles on the diagonal creates an optical effect that will draw the eye away, to create the illusion of more space. A new tap, and possibly a trendy new sink are also very affordable options to give your kitchen a relatively quick and affordable ‘facelift’.

If you’re not sure what’s worth doing, why not contact your local Coldwell Banker professional? Your Coldwell Banker sales representative is a great source of information about how changes may impact the future resale value of your home.

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