Start Thinking Home Improvement
If you were to call me up and tell me you were thinking of selling this year, among the first things I would tell you to do would be consider if you have room in your budget to renovate. I’m not talking about tearing out walls for a complete redesign; rather, think about simple upgrades that can be done on a short schedule that can increase your property’s stature in this suddenly competitive market. We have, for the first time in a long time, an abundance of well-priced homes in desirable neighbourhoods, and that means, as a seller, you should be looking for cost-effective ways to give yourself an edge.
Calgary’s slower economy means there are plenty of tradespeople who either are less busy than usual, or are just plain out of work, and that means the savvy homeowner looking to spruce up her property can get quality work done within a reasonable timeframe and for a good price. A new website has even been set up in the city, called JobJar, that connects those looking for work with those looking to have work done. Really, this is a great time to start planning out small projects to have completed before your home hits the market.
In what areas should you concentrate? There’s plenty of opinions on that across the Internet, usually based around the solid advice that kitchen and bathroom upgrades offer the greatest upside. Venerable handyman Mike Homes reminds us to focus on ensuring the fundamentals – plumbing, electrical, HVAC – are sound before going crazy on finishes and decor.
Bottom line, renovating to up a home’s value requires careful consideration and planning. As anyone who’s added a bedroom or finished a basement can attest, once contractors are in your house you can easily start seeing a multitude of additional projects, and the final bill can rapidly inflate. You don’t want to burn the equity in a property you plan to sell within the year. That said, well managed renovations, in conjunction with effective pricing and marketing thanks to your trusty Realtor, can help ensure yours isn’t the house sitting on the market for months while your neighbours across the street with the identical floorplan sell in a couple of weeks. Spend wisely.
