by David Ursino
|photo by Carickhome.com|
Location, Location, Location
The neighbourhood you buy into may have more to do with your home’s value than the dwelling itself. A very modest home near the beach may oﬀer a million-dollar view, while a mansion in the middle of nowhere may have little appeal, no matter how grand. If you move to an area with excellent schools, that could make your home more valuable when you decide to sell. If there are high homeowner association fees or special assessments, that could aﬀect the purchase decisions of future buyers.
Before you put your home on the market, you should understand that ﬁrst impressions are very important. If you have a rusty automobile parked in your driveway, many would-be buyers will simply move on to the next house. Making sure your front yard is clean will make a significant difference.
Experienced real estate professionals know that a few well-chosen improvements can add value to your home. As homes age, many homeowners are renovating to bring them up to date. While it’s ﬁne to make your house as attractive as those homes that surround it, you’re unlikely to recover your costs if your home becomes far more desirable than those of your neighbours. If you spend too much, the overall character of your neighbourhood may prevent you from reaping the full reward of your investment. Remember, a $75,000 renovation project will not necessarily increase your home’s value by $75,000.
Typically, the more modest projects have the biggest payoffs. Neatly trimmed landscaping, new carpeting and fresh paint are relatively inexpensive ways to increase value. Interior painting is a good place to start. The investment is small, and with a little patience and attention to detail, anyone can do it. Before you reach deep into your pockets for something like a kitchen makeover, make sure you weigh the costs and beneﬁts of the project.
About the Contributor
Vaughan real estate agent David Ursino brings a novel approach to real estate in Vaughan. Through over 10 years of successful sales and marketing experience, David understands the value of building great relationships with customers. He is dedicated to delivering the highest level of service and brings his passion to each and every real estate transaction. Being Vaughan’s first real estate video blogger, David knows what it takes to succeed in today’s online market. He specializes in the Woodbridge, Maple, Kleinburg and Thornhill areas. Learn more about Vaughan real estate agent David Ursino.