After about a year and a half of what could only be classified as an extreme seller’s market, you have probably noticed that the tide has turned, and the market has been left a bit more balanced. What does this mean, and why did this happen?
Inventory plays a large factor in this - the more houses available for sale, the more it gives buyers an advantage in the market. According to a recent report by the Canadian Real Estate Association (CREA), “there were 5.1 months of inventory on a national basis at the end of June 2017 – up a full month from where the measure stood in March and the highest level since January 2015”. Real estate, like any market, is all about supply and demand - as supply increases, it helps to outweigh the current demand.
An increase in interest rates, plus a new Ontario housing policy (introduced in late April) have prompted home buyers to carefully consider their next steps. Policy changes include foreign taxes and taxes for properties left vacant, to name a few.
This shift means that buyers are feeling less pressure to make quick purchases, and they want to take their time reviewing the options available, and make their decision based on the house that best fits their criteria. If you are selling your home, this will mean that you will want to ensure that your home appeals to the largest number of buyers possible, allowing you to stand out against your competition (i.e. other homes for sale in your neighbourhood).
Conditional offers are back! During the seller’s market selling spree, it was uncommon for a buyer to place any conditions on their presented offer. A conditional offer means that the buyer has placed one or more conditions on their offer to purchase your home, and these must be met before they will finalize the sale. This may include (but is not limited to) a home inspection, financing, and/or sale of the buyer’s property.
One thing that remains from the seller’s market is higher home values, and this is something that you can certainly cash in on. At this time, it is difficult to predict whether or not these prices will hold, or whether you will see a dip, but if you need to purchase a new home within Waterloo Region, you will likely enjoy the buying process much more now. That said, the only way to properly evaluate your home’s current value is to speak to a qualified real estate agent who will assess the various factors that affect the price of your home, including the home’s specific features, location, local amenities, comparables, and more.
This is a big year for Canada, as well as Waterloo Region! So how can you make this the most memorable birthday yet? Here are just a few ideas that the BTSH team has put together for you:
1. You know how great it is when your birthday lands on the weekend – it means no work, all play, and a leisurely start to the day! Nothing says “Canadian” like morning pancakes or waffles with some local Maple Syrup.
4. Head to downtown Kitchener for a free concert and fireworks display. Festivities start at 5pm and feature the James Barker Band (19+)!
Check out the Kitchener Market 10am-2pm for a family-friendly Canada Day event including live music, face painting, crafts and more!
5. Organize a neighbourhood bike rally – set up a table to supply Canada themed bike decorations, including ribbons, stickers, garland, etc. and invite your neighbours to bring Canadian themed snacks and treats.
6. Dress yourself in your favourite red and whites! Check out Old Navy for some great Canadian themed garbs for every age.
7. Host a Canada Day scavenger hunt - around your neighbourhood or your back yard!
For around your neighbourhood, create a list of red, white, or Canadian flag items to be found, and have your players take photos as they uncover these items.
Around your yard, hide red, white, and Canadian themed treats and prizes
8. Canada Day 2017 at the University of Waterloo celebrates not only Canada’s 150th, but also celebrates the University’s 60th anniversary, PLUS the 50th anniversary of the UW Federation of Students. Celebration includes performance by Tom Cochrane with Red Rider! Get all the details here.
When we style a home, we place furniture for function and living based
on how we live in the home. When it comes to selling your home, this may not be
the optimal way to showcase it and it’s features, so it is important to
review and evaluate what items should remain in each room, and what should be
removed for the purposes of staging and selling.
This editing can be critical to creating the right flow throughout the
home, allowing your potential buyers to properly “feel” the space and envision
themselves in it. Items removed from the room should be stored off-site until
the house has sold. In some cases, you may be able to relocate items within
the home.
How do you know what stays and what goes?
-Determine
what the style of the room is versus what it should be for the style of house,
neighbourhood, and listing price, and select the pieces that best reflect the
house’s style.
-What is
the intended purpose of the room? In most cases, a room should have only one
purpose and its intended purpose should be clearly outlined in it’s
furnishings. If you have been using your dining room as a kids playroom, it
will need to be converted back to a dining room to properly show the scale and
purpose of the room.
-For
bedrooms, as a general rule, we recommend aiming to show a minimum of 3 of
these rooms as bedrooms. We always recommend properly furnishing the smallest
of the bedrooms to properly show the scale. As well, if a bedroom has an
awkward layout, it is a good idea to show it furnished.
-Evaluate
what items in a room are absolutely necessary for every day function, and then
ask whether or not they add to helping to show the room’s purpose and use. If
not, try to disguise or hide them, otherwise, remove them temporarily.
-Are any
furniture pieces blocking critical areas such as windows, doors, or vents? If
so, be sure to remove them or relocate them to ensure that access to these
areas is clear.
-Are any
furniture pieces impeding the natural flow of traffic?
o“Traffic
flow” is something that can very easily turn off buyers, without them
consciously realizing it – remove any items that force an unnatural path
through the home.
-What is
the quality of the furniture? Heavily damaged furniture should be removed;
moderately damaged furniture may be repaired and touched up. Although your furniture
is unlikely to be sold with the house, buyers will often judge how a home is
cared for by how the furniture is cared for (you’ll often hear this referred to
as “Pride of Ownership” or “Pride of Property”).
-Is the
furniture out-of-date? If so, consider removing and replacing when possible.
-Are any
furniture pieces overshadowing the room? It’s great to have some colour in the
accents in a room, but bold patterns and/or colours on large furniture pieces
can over-shadow the room.
-Is the
room balanced? Every furniture piece has a visual “weight”.
oVisual Weight
– darker pieces and larger pieces are heavier; light coloured pieces and
smaller furniture is lighter; glass items should be balanced with “light”
furniture
oUse items
such as artwork, accessories, and plants to help balance areas of a room that
are lacking
-The most
important rooms in the home, according to your buyers, are:
oKitchens
oBathrooms
oMaster
bedrooms
oLiving
rooms
-First
impression areas should also receive special attention, including the front
entry, and any other rooms clearly within view from the entrance of the home.
Once you have determined what stays, you must then determine if anything
additional should be added to the room to highlight the features. You may
choose to purchase these items, or you may wish to rent them from your home
staging provider. Regardless, your new furniture plan will only be effective
with the proper finishing touches.
For more information on how to stage your home, or to get assistance with everything from pre-listing staging to decor and furniture rentals, contact Beyond The Stage Homes!
We want you to have a stress- and anxiety-free move. Here are the TOP SIX benefits for why you should declutter before moving homes:
* Getting rid of the clutter will allow you to relax and feel great!
* The Home Staging process will be faster and more effective.
* Your home will look inviting and it will attract more buyers.
* Save time, energy and $$ by not moving unnecessary items.
* Less time spent unpacking in your new home; arranging only the items you love.
* Sell and/or Auction Unwanted items to get $$ back.
DECLUTTER IN 14 STEPS TO PREPARE YOUR HOME FOR SALE AND MAKE YOUR MOVE SEAMLESS.
1. WHAT’S YOUR WHY? What do you want? Why do you want it? How are these goals going to make your life better?
2. CAN YOU PICTURE IT? Visualize your ideal space. What does it look like? How do you feel when you are there? Having a clear vision in your mind that motivates you will make the process of decluttering and moving way easier. You will also have a better understanding for what items to take with you and what to leave behind. What kind of activities would you like to do in the new space? Make sure to set up the spaces according to your needs.
HELPFUL TIP: Are you moving into a smaller space? Having detailed measurements of every room can help you decide if an item will fit in the space or not. Measure and play with the layout before you move in.
3. PICKING A SPACE TO START. What is your first priority? What space can you benefit the most from? It’s very powerful to be able to start and finish one area. You will be able to experience a functional and inviting space. This will empower you to keep going with other areas.
4. ACCEPT HELP. Yes, it is true. Getting help makes the decluttering process much faster and more fun! Having someone else will help you feel supported, give you extra hands, help you keep the motivation going and keep you accountable.
5. SCHEDULE THE RIGHT AMOUNT OF TIME. Be realistic. This is a tough one. It will depend on how fast you make decisions, how much help you have, and how many items there are in the space. Don’t try to do it all at once. Take whatever you estimated and add 2 more hours ;)
6. TAKE BEFORE AND AFTER PHOTOS. Pictures are not just for professionals to build their portfolios. Taking photographs will help you see your accomplishment and will be motivation you for future sessions.
“When you understand what drives you, what truly motivates you, you are then able to create an environment that facilitates your goals. It frees up space so the new you can step in. There is purpose in how you live.” - Lanna Nakone, Organizing for Your Brain Type.
7. SET UP A STATION. If possible set up a folding table in the space you are working. Only deal with the items on the table. Keep focused and use a timer if you need to. Under the table, have a few bins (donation, recycling, garbage, shredding, belongs in another space, to give to someone, to sell). Every situation will require some or all of these bins. If you have clear space in the room or close by in another room you can make piles there.
8. THE ‘WAVE’ PROCESS. Start on one side of the room and do a “wave” touching every item in the space: Do I need this item? Is it going to help me achieve my goals? Put the item in the proper pile. If you are unsure make a pile of unsure items and go back to it later.
HELPFUL TIP: Taking a photo of an item can help you keep the memory of it without having the physical item. Keep working with the items you know for sure what to do with them.
9. MESSIER BEFORE IT GETS BETTER. Don’t panic. Things will look messier during the beginning of this process. Allowing time to clean up and place things where they belong at the end of the session is very important.
10. GIVE EVERYTHING A ‘HOME’ Every item that stays in the space needs a permanent spot. No excuses.
11. KEEP A TO-DO LIST. As you sort through your items write down every task that comes to mind as you work. It will help you get things done and make smarter decisions. At the end of the session make sure to schedule all the tasks in your calendar.
12. UNWANTED ITEMS. If you know for sure there will be a lot of unwanted items to go for donation, auction, consignment, and/or recycling make sure to arrange for transportation.
13. STORING ITEMS FOR SOMEONE ELSE. Give them a deadline and make sure they are gone before the end of the session. Move them to another space if that’s an option. They need to understand that you are dealing with clutter and working really hard to get your space back. Their stuff is not helping you accomplish your goal.
14. PAPER. Dealing with paper can take a very long time and you won’t see immediate visual results. We recommend putting the paper aside and deal with it in a future session when you have a clear space to tackle it. If you are dealing with paper you may benefit from reading Tips to win the constant battle against paper clutter.
REAL CLIENT EXAMPLES:
ART STUDIO TRANSFORMATION
CREATING A STARTING POINT
OFFICE ORGANIZING
FINAL NOTE
Decluttering your home will allow you to make the process of selling your home and moving seamless.
It will also allow you to get a fresh start. It’s a new chapter in your life and you can decide what that chapter includes.
Don’t want to tackle decluttering on your own? We love working with KW Professional Organizers. Call them today at 226-606-3233!
oThis may be
magazine photos, Pinterest pins, or physical samples – you don’t even have to
know what you like about something, but the more information that you can
provide to your designer, the better
·Provide
Samples
oIf you have
already selected any renovation materials, be sure to have samples of those
items available for your designer
·Provide Creative
Autonomy
oThis is
something that many homeowners struggle with – remember that you hired your
designer for their expert, professional opinion, and there may be times where
you will need to trust them to take you outside of your comfort zone.
oOur goal is
to integrate your style with our expertise to create a design plan that you
will love for years to come. The more autonomy that we have, the easier it is
to create this, but we want to ensure that we do so with your trust and
understanding – if at any time you do not feel that you are being heard, or are
not comfortable with a decision that has been made, be sure to address it as
soon as possible to avoid any issues or unnecessary costs.
oIt’s all in
our head - we understand that you may not always be able to see what we see!
Sometimes, you may simply need to take a leap of faith and trust, but if this
is something that you are not capable of, ask, and we will do our best to
provide a visual representation of our vision.
·Understand
what your roles are
oThis is
important to address in the beginning, to ensure that there is no confusion.
oIf you are
uncertain, ask questions.
oYour designer
should provide you with a contract outlining the scope of the project and any
fees, payment schedule, etc – this is intended to protect both you, and your
designer
DON’T
·Rush
oQuality takes
time! Plan for your design or renovation project – by allowing the proper time
needed, your designer will have more flexibility in negotiating the best
quality and price for each product/finish selection.
oAllow
sufficient time for create the proper plans for any renovations PRIOR to
beginning construction.
·Be afraid to
speak up
oIt’s your
house, and your money! The role of a designer is to create a space that fits
your style and needs – if you do not like something, be sure to address it with
your designer.
oYou get final
say, but remember that you hired a designer for a reason – sometimes you just
need to trust us and our final vision.
·Withhold your
budget
oI cannot
stress this one enough! Be sure to communicate where your comfort zone is, and
plan for a contingency (as a general rule, we recommend allocating
approximately 5%-10% of your total budget for design services, however this can
vary by project and designer).
oWe often find
that clients are afraid to reveal their budget, for fear that we as designers
will spend every dime of it. Our role is not to maximize your budget, but to
maximize your dollar. The most effective way for us to do this is by ensuring
that we can purchase quality products, and have the freedom to explore low-cost
options when available.
·Keep things
bottled up
oAll relationships take some element of work, so it may
take a little bit of time initially to work out the kinks of understanding, and
setting, appropriate boundaries. Be sure to clearly communicate with your
designer to ensure that you are on the same page.
