February 18, 2024

Top 5 Home Renovations with the Best Return on Investment

by Ian Campbell

Well-planned home renovations can really enhance your home’s appeal and amp up its price when it’s time to sell. But not all improvements bring a hefty return on investment (ROI). Knowing the most promising updates can help strategize your revamping efforts for an attractive sale. Read on for a rundown of the top five home […]

Kitchen Upgrades

A modern, functional kitchen can impress prospective buyers and significantly boost your resale value. But a complete remodel isn’t always necessary when you’re looking for a sizable ROI. If your kitchen already has a good layout, work with what you have and make strategic changes. Key renovations to consider include new countertops, an updated backsplash, a fresh coat of paint, and high-end appliances. Need some swoon-worthy inspiration to get you in the mood? These kitchen updates will make you want to start taking notes and making plans.

Bathroom Remodels

Bathroom updates are next on the list of top ROI home renovations. Your efforts here can range from replacing dated fixtures to a more comprehensive refresh, including a new soaking tub or a sleek walk-in shower. But before you pencil in a new skylight and heated floor tiles, consider every tweak’s necessity and potential upside, as bathroom work – like kitchen updates – can quickly become expensive. But if you can invest more in this space, you’ll likely see significant returns.

Hardwood Flooring

There’s no question about it – adding or refinishing lackluster hardwood flooring can significantly enhance the value of your home. This type of flooring offers a timeless look that harmoniously blends with various design styles, from boho chic to classic elegance. Besides their aesthetic charm, hardwood floors are sturdy, easy to clean and healthier due to the absence of trapped allergens often found in carpets. Buyers are consistently willing to pay more for a house with hardwood, making this upgrade a wise choice if you can swing it. How much will wood floors cost you? It all depends on the size of your rooms, the style you choose and the tree species.

Eco-Friendly Improvements

Energy-conscious renovations have been in vogue for a while now. An energy-efficient home attracts a broad range of buyers and contributes to a greener, healthier environment for everyone. Energy-saving windows, LED lighting, Energy Star-certified appliances, higher-rated insulation, an updated HVAC system and solar panels can offer a higher selling price point and significant cost savings for the homeowner.

Adding an extra room or an outdoor living space

Expanding your total livable space can add considerable worth to your home, whether it’s a finished basement, attic or flex space. An additional bedroom or an office are always in demand, especially in this work-from-home era. If expanding indoors isn’t feasible, transform your outdoor area into a relaxing second living room. A deck or patio can be an enticing bonus for buyers looking for more usable square footage at the property. Swanky garage conversions can also provide extra room year-round with unique appeal.

The right home upgrades can substantially increase your property’s value. However, balancing your renovation budget with the prospective benefits is crucial. In addition to this list, research your market and pay attention to what features the top-selling homes in your area offer. Consulting a real estate professional can also help you make informed decisions and optimize your home renovations for the best ROI.

February 18, 2024

Moved In and Cash Strapped? 6 Tips to Cut Expenses

by Ian Campbell

A couple in their 50’s moves in to their new home, unpacking boxes and enjoying the time together. Could also depict moving out of a home.

Moving into a new home brings with it the promise of a fresh start and new experiences, but it can also bring some financial challenges. These ideas will help you shift from scrimping to saving in no time at all.

Moving into a new home brings with it the promise of a fresh start and new experiences, but it can also bring some financial challenges. Rental or mortgage costs, paying for movers, and new furniture can quickly add up. If you find yourself needing to cut back on spending, it doesn’t have to be painful. These ideas will help you shift from scrimping to saving in no time at all.

Bundle your mobile, Internet, and cable

With a new environment, it might also be time for a new phone carrier. Shop around for a mobile plan that meets your needs without paying for extras you don’t want. You may also be able to find savings by bundling with your Internet and cable service.

• Consider a by-the-gig mobile plan if you use varying amounts of data each month.
• See if you can take your current phone to your new carrier instead of buying a new phone when making the switch.
• Pair up for a family plan with a family member, so you both save.

Spread out decorating expenses

As you’re settling into your new home, you’re probably imagining the perfect living room rug, bedroom paint job, and dining room table. However, if money is tight, it’s time to be practical.

Feel free to dream and pin your perfect décor choices onto your Pinterest boards, but you’ll also want to draw up a budget. Leave plenty of room for the inevitable challenges that will arise, and figure out what you can put toward redecorating each month.

• Make a list of desired updates and prioritize them. Consider which items will have the greatest impact in terms of efficiency, comfort, and mood.
• If your budget allows, set aside money each month for your redecorating plans.
• Purchase and update according to your priorities. Be flexible if something you’re waiting for goes on sale.

Cut back on the pampering

You may have gotten used to having plenty of “fun money” in your previous home. Maybe you got in the habit of sending out for dinner multiple times a week, sipping on fancy lattes, or hitting the spa whenever the mood hit. Take stock of those splurge purchases and taper back — or cut them out entirely. Instead, try some budget-friendly ways to have fun.

• Search out fun new recipes and enjoy cooking in your new kitchen. Engage your partner or a friend and cook together.
• Use candles and music to create a spa-like area in your home where you can relax. Enjoy a bubble bath, a face mask, or a cozy spot for reading.
• Invite friends over for movie night rather than hitting the theater.

Conserve energy

Household utilities eat away a large portion of a monthly budget and small changes can add up over time.

• Turn off lights and unplug electronics when not in use.
• Use programmable thermostats to adjust the temperature in your home throughout the day.
• Be conscious of your household water usage.
• Look into a free energy audit. It will identify areas of your home you can update or change to save energy and money.

Shop smart

When our budgets aren’t quite as tight, frugal shopping can go out the window. Take the time to focus more on finding ways to save at the cash register.

• Use coupons. This takes some planning but can result in huge savings.
• Stock up during sales. If you have the storage space, grab extra non-perishable items when the costs are low. If you have enough freezer space, you can also stock up on meat and other freezer-friendly items.
• Shop around and seek out good deals. Big-ticket items may be available for less at smaller or online retailers, and your local retailer may be willing to price match to keep your business.
• If you can’t tell the difference, go generic. Generic food items are typically processed in the same plants as name brands. Buying off-label clothing and furniture can also help cut back on costs.

Borrow items you don’t use all the time

While it may seem easier to buy what you need or want, consider borrowing or renting things you will only use once or won’t use often. Not only will you save money, but it will free up your storage space, too.

• Get a library card. Many libraries offer digital content like movies, audiobooks, free music downloads, magazines, and streaming video that can all be accessed online. Check your local library’s calendar for free activities, like book readings, movie nights, craft gatherings, and workshops.

• Your new home may come with new needs, like a carpet steamer, pressure washer, extra-tall ladder, or specific lawn equipment. If you only need these items sporadically, consider borrowing from a friend or renting from your local home improvement store.

There are plenty of ways to save money in your new home without having to sacrifice all your favorite indulgences. Small adjustments to your budget can add up quickly and help you adjust to your new household expenses.

4 Investments Worth Making in Your First Home

by Ian Campbell

You’ve just bought your first home – congratulations! Now it’s time to make your home feel like, well, home by undertaking some long-term investments that will not only look beautiful, but will also last you for years to come.

In today’s post, we’re offering some advice for first-time homeowners on areas where spending a little bit more is likely to pay off in the long-run. From valuable aesthetic updates in key areas such as the kitchen, bathroom and living room to installing smart heating systems and insulation to prioritize energy efficiency, our tips will leave you inspired to make the most out of your first home update.

Replace flooring

Flooring has the power to change a room entirely, so it should go without saying that this is an essential aspect of the home where you should consider spending a little extra. Since flooring in areas such as the hallway, kitchen and bathroom is likely to undergo high footfall traffic, your material choice should always look to combine durability with that visual wow-factor where possible.

When it comes to updating your flooring, choose neutral colors to create a luxe look that goes the distance. Generally, neutral colors offer you the freedom to change your furniture or accessories without updating all the fixtures and fittings in the process, and will even allow you to keep up with trends as they change.

Whether you’re opting for some stylish, large format floor tiles which offer a contemporary touch in the kitchen or some hardwood flooring which adds warmth to your living room, quality flooring is a great way to add personality to a new space from the off – meaning showing your floors a little TLC should be high up on your list of investment priorities.

Update key areas of the home

As the hub of the home where friends and family alike come together to relax, the living room is the best place to start when it comes to fixtures and fittings. Lighting can have a huge impact on the overall aesthetic in your living room – so it’s worth spending a little bit more on lamps or downlighters to add that cozy, homely touch to the lounge.

Additionally, art is a great way to change the ambiance in your living room, so choosing pieces with comfort and calmness in mind is a great way to add a tranquil theme that makes you feel right at home from the get-go.

Naturally, ensuring your bathroom looks fresh, well maintained and hygienic is important when moving into any new home. Modern or high tech touches are an effective way to add an extra luxe appeal, so consider investing in a rain shower or waterfall taps to create a relaxing oasis that washes away the stresses of moving and unpacking.

Elsewhere in the home, high-end fittings such as granite or quartz worktops are practical choices that will go the distance. Though these may be a high investment initially, investing in durable, hard-wearing and practical materials in areas of frequent use ensures longevity and, as such, a great return on your investment in the long-run.

Invest in quality furniture

Nothing makes a house feel like home quite like furniture – after all, furniture is the most effective way of adding character to any space. When opting for your style, try to prioritize items that will stand the test of time, as this will ensure your first few years in your new home isn’t spent constantly renovating in-line with the latest trends.

When choosing timeless furniture, wood is often the first material which springs to mind. While solid wood is often more expensive than other types, it boasts a distinctive aesthetic and durability that will look great year after year. Whether you’re purchasing an oak cabinet for the living room or some luxury walnut bedroom cabinets, solid wood is an effective way to add a high-end, comforting appeal to your home.

Prioritize energy efficiency

Energy efficiency is now one of the highest priorities for homeowners as it can make a significant difference in the cost of utility bills. While adding energy-efficient features may be a large initial investment, the sooner you start making the changes, the greater your savings will be – so we recommend optimizing your new home right away.

Some essential areas to evaluate energy efficiency are the boiler and the loft. Poorly insulated lofts can be a major cause of energy wastage, even if all of your other appliances are in premium condition. If appliances such as your boiler aren’t in a premium condition, however, this could only add more costs to your energy bills, particularly if it breaks down during the winter months.

To keep track of your heating usage and spot issues early, a smart heating system is a great way to monitor your spending. Smart heaters allow you to add more thermostats and controls to different rooms, including hot water and heating – making this a logical investment for any first home.

It’s easy to get caught up in the hustle and bustle of moving house, but with our tips, we hope you’ll be on your way to making worthwhile investments in your first home. If you’re still in search of that dream first house, contact your local Coldwell Banker Real Estate representative Ian Campbell help make the process of buying a house trouble-free.

Home Ownership • Home Ownership • Home Ownership • February 18, 2024

A Beginner’s Guide to Understanding Homeowners Insurance

by Ian Campbell

Buying homeowners insurance for the first time can be intimidating. Gaining a better understanding of what it covers, what it doesn’t, and how much coverage you need can help calm your nerves and build your confidence.

While buying your first home is exciting, buying your first homeowners insurance policy isn’t nearly as much fun. New homeowners have all kinds of questions about what homeowners insurance covers and what it doesn’t, and understandably so. When shopping around for a policy to protect the biggest financial investment of your life, you want to feel confident that you’ll walk away with enough coverage.
Fortunately, with just a bit of a debriefing on homeowners insurance, those shopping for their first policy can feel empowered and knowledgeable even before meeting with an insurance agent. Here’s a quick breakdown of the finer nuances of homeowners insurance coverage, including how much you need to protect your home and belongings.
What Homeowners Insurance Covers
When buying an insurance policy, it’s important to know what it’s going to do for you as far as offering protection for your home and belongings. Since a home is made up of much more than just four walls and a roof, homeowners insurance includes coverage for all related aspects — not just the building itself. Coverage also aims to protect a home’s contents, including the family and their guests, against potential disasters within or surrounding the house.
Standard homeowners insurance policies have four main coverage categories:
Damage to the home’s structure: The first category of property damage concerns the actual dwelling or the structure of the house itself. Your homeowners policy protects the home’s structure from damage or destruction due to covered perils, which we’ll explore further in the next section. Detached structures, such as sheds, are often covered as well.
Damage to your personal property: This second aspect of property damage covers your personal belongings (e.g., furniture, electronics, clothing, artwork, decorations, etc.) stored within the home or in places such as storage units, to an extent. Damage, destruction, or loss of your personal property due to a covered peril is all protected under your insurance policy.
Liability: Homeowners policies include liability coverage for both bodily injury and property damage to a third party. Coverage extends to all members of your family living in the home, including pets. Liability coverage protects you against legal claims by reimbursing you for attorney and court fees, including any settlements you’re ordered to pay if the case rules against you. Your homeowners policy even protects against incidents in which you are sued away from home.
Additional living expenses: If your home gets badly damaged or destroyed and you’re forced to live elsewhere while repairs are done, your insurance will reimburse you for the additional expenses such as hotel rooms, eating out, extra gas mileage, etc., within reason.
From structural damage to the accidental injury of a guest, you’re likely to be covered by a homeowners insurance policy. For a claim to be successful, the cause of the issue needs to be due to a covered peril.
Covered Perils Under Homeowners Insurance
While it would be nice if homeowners insurance covered your home and belongings from absolutely all potential hazards, in reality, there isn’t any insurance policy that comes without a set of defined covered perils and a list of specific exclusions. First, we’ll start with the positives.
Commonly covered perils under standard homeowners policies include the following:
Theft
Vandalism
Explosion
Fire and smoke
Water damage
Aircraft or vehicle damage
Riots
Falling objects (and trees)
Roof collapse (due to weight of ice/snow)
Certain natural disasters (i.e., windstorms, hail, lightning, and blizzards)
Notice that only some, not all, natural disasters are covered by homeowners insurance. That being said, it’s time for the flipside of the coin.
What Homeowners Insurance Doesn’t Cover
Perhaps even more important than knowing what your homeowners policy covers is understanding what it doesn’t. This can save you the hassle of filing a claim that’s bound to get denied or counting on a reimbursement that’s not going to happen.
Standard homeowners policies typically do NOT cover the following perils:
Certain natural disasters (i.e., floods, earthquakes, and mudslides)
Maintenance-related losses
Wear and tear damage (i.e., failure of the homeowner to maintain upkeep of the home)
Insect damage or infestations
Damage from war or nuclear fallout
Business-related liability
If you run a business out of your home, homeowners insurance typically won’t cover liability for related mishaps. Homeowners policies also tend to limit liability coverage for certain types of vehicles, including aircraft, ATVs and boats and have very specific exceptions for certain powered vehicles, such as ride-on lawnmowers. You’ll need to check the policy to be sure of coverage for special vehicles.
Knowing How Much Coverage You Need to Purchase for Your Home
Once you understand what homeowners insurance does and doesn’t cover, you’ll need to figure out how much coverage you need. When insuring the home itself, consider how much it would cost to rebuild if a disaster caused destruction. Several things influence rebuilding costs for a home, including location, the type and age of construction, surface area, amenities, built-in plumbing and heating systems, and various features. Additionally, any measures taken to make a home nicer may increase its value and make it more expensive to rebuild.
Depending on the specific home’s value, rebuilding costs may run somewhere between $80-$150 per square foot. Plenty of online tools are available to help calculate the estimated cost to rebuild your home. Insurance agents are also equipped with professional tools for accurate estimates to help get you set up with the right amount of coverage for your home. It’s better to err on the side of purchasing too much coverage for your home’s structure, should you ever need to rebuild following a disaster.
Knowing How Much Coverage You Need to Purchase for Your Belongings
When it comes to insuring your personal belongings, homeowners policies typically limit replacement coverage for your personal property to 60% of your home’s total insured value. For example, if you purchase $200,000 worth of insurance on your home, $120,000 of coverage would apply to your belongings. Of course, you can always add more coverage. Should disaster strike, it’s a good idea to have a record of your belongings in photo or video format to help receive the reimbursement you’re entitled to.
If you have expensive or valuable items like furnishings, artwork, jewelry, or electronics, you might want to purchase extra coverage for your property. Special endorsements or riders are available for specific types of property that may be on the pricier side, such as jewelry and electronics. Purchasing endorsements or riders can help ensure your items are covered for their replacement costs and won’t exceed your policy’s coverage limit if they are lost, damaged, or destroyed.
Now that you have a deeper understanding of homeowners insurance coverage and how much is needed, you can begin your hunt for the right policy with a sense of empowerment and confidence. Don’t hesitate to ask your independent insurance agent for further clarification on any gray areas. Good luck.

Buying A Home • Buying A Home • February 18, 2024

Navigating Open House Tours: A Home Buyer’s Guide

by Ian Campbell

Open house tours are a crucial part of the buying process, giving you the chance to explore your options and envision your future in a new home. To make the most of your property visit, come prepared by following these important steps. Do Your Research Before attending an open house, do some research on the […]

CARMA STAHNKEFEB 11, 2024

Do Your Research

Before attending an open house, do some research on the neighborhood, local amenities, schools and property values. This will help you make informed decisions and ensure that the location aligns with your lifestyle and preferences.

Create a Checklist

Buying a home is a big investment, so you want to create a checklist of your “must-haves” before you visit the property. Consider the number of bedrooms and bathrooms, the kitchen layout, the outdoor space and any other requirements. Having a checklist will keep you focused during the open house tour and help you evaluate each home objectively.

Prepare Your Financing

Understanding your financing options and budget is another key step in your home-buying journey. Getting pre-approved for a mortgage will empower you to make a strong and timely offer when you find the right residence. It also helps narrow your search so you can focus on properties within your price range.

Respect the Property

While touring homes, don’t forget that they are still someone else’s property. Avoid touching personal belongings, take your shoes off if requested and be mindful of the seller’s privacy. Remember that it’s in your best interest to make a positive impression, especially if you later decide to make an offer on the home.

Assess the Home From Top to Bottom

As you walk through the home, have your checklist handy and take notes for future reference. Keep an eye out for any red flags, such as cracks in the walls, outdated plumbing or older HVAC systems. Look under all the sinks and around bathtubs for mildew or water damage. And don’t forget the exterior – check the brickwork, siding, roof and balcony. Being fully aware of the home’s positive and negative aspects will be crucial when making your final decision.

Ask Questions

Don’t be afraid to inquire about the age of the property, recent renovations, maintenance history and any issues the current owners may have experienced. It might also be helpful to know how long the property has been on the market. This information will give you valuable insights into the condition of the home and allow you to assess potential future costs.

Following these steps, backed by the knowledge and guidance of your real estate agent, Ian Campbell, will help bring you closer to your goal of homeownership. Be sure to take your time, attend multiple open house tours and keep a detailed record. Happy house hunting!

February 18, 2024

Should You Buy or Rent a Home?

by Ian Campbell

In today’s competitive real estate market, you may wonder if it’s better to rent a place or buy a home. Purchasing a residence can provide more privacy and future investment potential, while renting allows for more flexibility and less maintenance. Both options have a myriad of pros and cons, but it ultimately will depend on […]

JENNIFER MCGUIREJUL 20, 2023

Costs and Maintenance

When you rent a home, you typically pay a flat monthly rental fee plus utilities and insurance, and any repairs or maintenance are the landlord’s responsibility. However, when it comes time to renew your lease, you may find that your monthly rent goes up. When purchasing a home, your monthly mortgage payment remains constant and there’s always the option of refinancing if interest rates drop. Of course, you will also be responsible for your own maintenance and repairs.

Building Wealth

When you own your own home, you build appreciation and equity as the value of your property increases over time. In recent years as property values have appreciated across the country, owning a home has proven to be a smart investment. When you rent, your monthly housing costs go straight to the landlord.

Customization

For renters, landlords often have specific rules about the surrounding property and limit things like growing gardens, decorations, painting interiors and more. But when you own, it’s yours to do what you like. While your HOA may have some restrictions on exteriors, you are generally free to customize your property to suit your personal style. You can also add amenities and make upgrades like new appliances, light fixtures, flooring and other features that can increase its value and your future financial prosperity.

Flexibility

Rental agreements often span a year or go from month to month, which allows you to make quicker adjustments for lifestyle changes or new job opportunities. However, when it’s time to renew your lease, there is no guarantee that the property will continue to be available. When you own a home, adapting your living situation is a process and involves finding a buyer, as well as the transfer of taxes, title insurance and other legal documents. However, it will give you the stability needed to build long-term success.

In many markets, it’s cheaper in the long run to own a home than to rent, as rent prices have risen steeply across the country. Contact Ian Campbell to help you determine if purchasing a home is the right option.

Buying A Home • February 18, 2024

The Benefits of Working With a Real Estate Agent

by Ian Campbell

In a competitive real estate market, you need more than just luck on your side. Whether you’re looking to sell your property or finally get your hands on your dream home, one thing’s for sure – you need the expertise of a seasoned real estate agent who has neighborhood knowledge, market insights, negotiation finesse and […]

MICHELLE ABENDSCHANNOV 30, 2023

Sharing Local Expertise

When it comes to exploring community lifestyles or marketing a property to the most likely buyer at the right time, real estate agents are the ultimate insiders. They know the market and the area, and also have a network of connections and trusted professionals they can call on to ensure all your real estate goals are met. They’re well-connected in the real estate world, which means they’ve got the scoop on off-market listings and soon-to-be-available properties.

Data-Driven Decision Making

Who doesn’t love a good data-driven strategy? Real estate agents have a treasure trove of tools and technology. Using market data analytics, insights into trends impacting buyers and sellers and a comprehensive Competitive Market Analysis, they can accurately tell you where the opportunities lie and what to expect for pricing, days on the market and more.

Detailed Coordination

Ever felt overwhelmed by the intricacies of buying or selling a property? Working with a real estate agent gives you a personalized approach every step of the way. They will handle placing an offer, coordinating inspections, getting a home ready to list and developing a custom marketing plan. They’ll also connect you with any necessary vendors, including repair specialists or mortgage, title and insurance professionals. With an agent at your side, the intricate processes and complexities become a breeze.

Expert Negotiations

When you’re in the final stages of the game, your real estate agent turns into your personal advocate. They’re armed with data analytics and negotiation strategies that can lead to winning deals and peaceful resolutions. They’ll make sure it’s a smooth process.

With a real estate agent as your trusty guide, you can navigate the market with confidence and secure the best possible outcome. For full-service tailored assistance, reach out to your local Coldwell Banker Realty affiliated agent, Contact Ian Campbell

February 18, 2024

Spring Into Action: Tips for Selling Your Home This Season

by Ian Campbell

As temperatures rise and flowers begin to bloom, now is the perfect time for a spring home sale. In fact, real estate data provider ATTOM found that properties sold in April, May and June garnered the highest returns over the last 12 years. If you want to take advantage of the season’s vibrant energy and […]

Maximize Your Curb Appeal

Spring is the ideal season to show off the beauty of your home and capture buyer interest before they even step through the front door. Nothing is more inviting than a freshly mowed lawn, blooming flowers and well-manicured trees and shrubbery. Buyers will notice the details, so it also pays to have your home and driveway power washed and gutters cleaned. Even small improvements like a new mailbox, welcome mat or porchlight can make a big impact.

Do a Deep Clean

Your home should sparkle from the floorboards to the ceiling fans. Buyers pay special attention to bathrooms and kitchens, so you’ll want to address tiling, grout lines and appliances. Replace shelf liners and shower curtains and have the carpets and curtains cleaned as well. And don’t forget about hidden spots, like the cabinet under the sink and the area behind the refrigerator. A pristine home shows buyers that the property has been taken care of, giving them more confidence to put in a competitive offer.

Address Repairs and Upgrades

You don’t have to renovate your home to get a quick sale. Some minor upgrades can significantly enhance the property’s overall appeal. A fresh coat of paint, for example, can change the entire feel of your home. Choose neutral colors and keep the palette consistent throughout the interior. You can also replace outdated drawer pulls, knobs and faucets. If your budget allows, consider purchasing new kitchen appliances and/or countertops, as these are important features that buyers will appreciate.

Declutter and Depersonalize

A clutter-free home appears more spacious and allows potential buyers to envision themselves living there. Pack away personal items and unnecessary objects to create a neutral canvas that appeals to a broad audience. Remove refrigerator magnets, family photos and knickknacks. Keep kitchen and bathroom counters clear and consider removing a piece or two of furniture from each room to its spaciousness. Bare walls can make the home seem sterile, so hang tasteful artwork that doesn’t overpower the room.

Lighten up the Interior

Spring offers abundant natural light, making your home appear expansive and inviting. Clean your windows thoroughly to allow for maximum sunlight and keep your curtains and blinds open during showings. Now is also a good time to replace lightbulbs to create a warm ambiance throughout the residence.

As you prepare for a spring home sale, your agent will guide you through other key considerations, like pricing the home competitively, arranging professional photography and engaging buyers across high-traffic websites and social media platforms. Together you can make your property stand out in this season’s blooming real estate market.

Selling A Home • February 18, 2024

Why Spring Is the Best Time To Sell Your Home

by Ian Campbell

As winter ends, a burst of activity takes over the property market and potential buyers come calling. During this time, the housing market can also just look more appealing, accented with emerging greenery and the start of colorful blooms. Learn why spring is the best time to sell your home, and why this is prime time in […]

As winter ends, a burst of activity takes over the property market and potential buyers come calling. During this time, the housing market can also just look more appealing, accented with emerging greenery and the start of colorful blooms. Learn why spring is the best time to sell your home, and why this is prime time in the real estate world.

Peak Real Estate Activity

Traditionally, spring brings an influx of eager home buyers into the market, and that isn’t likely to change in 2024. With the holidays behind them and tax refunds in hand, people can be ready to make significant life changes – including finding a new home. This convenient timing can also give those new homeowners the summer to settle in before the kids start back at school. Plus, the increased housing demand in March, April and May often leads to quicker sales and more favorable offers – another big pro for home sellers in the coming months.

Spring is Open House Season

The less extreme weather also provides the perfect backdrop to showcase your home in its best light. With the milder temperatures kicking in for a lot of the country by mid-March and longer days ramping up everywhere, potential buyers can be more inclined to attend an open house, spotlighting your home’s warm and inviting atmosphere in-person.

Perfect Time for Home Improvements

The spring months are also ideal for touching up the exterior with a fresh coat of paint or fixing the roof if winter was a little rough on it. First impressions are super important to home buyers, and they’re more likely to fall in love with a home that looks well-kept and inviting. Nothing scares off a buyer faster than the thought of high-cost repairs down the line. So, start planning those tweaks and updates now.

Yards Look Their Best

Never underestimate the power of a picture-perfect home exterior. And that means curb appeal! Trimming the hedges, cleaning walkways or setting up a cozy front porch seating area can go a long way in convincing potential buyers to envision themselves living in and loving your home. This is also a fabulous time to consider all outdoor spaces. Landscaped yards and unique outdoor entertaining areas can make a lasting impact that will make them want to act fast.

Advantages of Listing with an Agent

If you do sell this spring, consider the benefits of working with a professional – specifically a Coldwell Banker® affiliated agent. From understanding the intricacies of your local real estate market to navigating the hyper-competitive spring selling season, they’ll have you covered. Plus, their expert marketing includes professional photography, targeted online advertising and more. Interested? Connect with an agent today to get started.

It’s true! Spring is the best time to sell your home. But here’s an insider tip – don’t wait for the rush to kick in. Dive in now, get ahead of the game and be ready to show when the market heats up.

Newsletter • Newsletter • February 17, 2024

Ottawa Market Statistics – January 2024

by Ian Campbell

Ottawa’s real estate market thawed in January but sales were still slow.

The number of homes sold through the MLS® System of the Ottawa Real Estate Board totaled 629 units in January 2024. This was an increase of 16.5% from January 2023.

“Ottawa’s market activity is seeing positive gains over last year but it’s still a relatively quiet market even by pre-pandemic standards,” says OREB President Curtis Fillier.

“While REALTORS® are telling us there’s lots of showing activity, probably thanks in part to the forgiving winter thus far, it’s not all translating to sales. This tells us that buyers are back out there looking, but still approaching cautiously.”

“During the pandemic market, buyers had to move quickly and sometimes settle for a property that didn’t check all their boxes. Today, buyers are using the slower market to take the time needed to find their perfect place.”

In January, the overall MLS® HPI composite benchmark price was $621,600, a gain of 3.2% from January 2023. The benchmark price for single-family homes was $703,500, up 3.7% on a year-over-year basis in January.

By comparison, the benchmark price for a townhouse/row unit was $462,200, down 2.1% compared to a year earlier. The benchmark apartment price was $418,500, up 3.7% from year-ago levels.

The average price of homes sold in January 2024 was $631,722, increasing 1.8% from January 2023.

The number of new listings saw an increase of 7.3% from January 2023. There were 1,271 new residential listings in January 2024.

––––––––––––
Please don’t hesitate to reach out for detailed stats that are specific to your neighborhood, or even if you’re just curious about what the house down the street sold for – it’d be great to hear from you!

Click below for Stats in your specific area:

https://theguyinthekilt.com/neighborhood-news