Sunday, 28 September 2014

Upgrades You Probably Not See Your full Investment Returned.

Some renovation upgrades such as your kitchens and bathrooms are usually fairly reliable for adding to a home’s resale value. Then there are others that are just not worth doing.  If you are selling you probably are asking yourself what’s worth the cost and what isn’t?
Here are some renovation that least likely to return their full investment or close to it when you sell, or may even turn buyers off.

Wall-to-wall broadloom
Once considered a selling feature, this is now a liability in many buyers eyes. Broadloom is incompatible with pets, people with allergies, and is perceived as hard to clean. If you have hardwood floors, have them refinished or consider installing them if you don’t. Or just leave as is and let the buyer decide what they want to put in.

Whirlpool baths, saunas and indoor hot tubs
They use to be chic, they are now often seen as just expensive, energy-guzzling extras. Seems most people want to have the nice showers.

Built-in sound systems and home theatres
Some buyers will be attracted to this, but not everyone, nor will they pay a premium for a house with this feature.

Colorful bath fixtures
You may like it but chances are the buyer will just see them as a renovation to-do and will plan to get rid of them after the purchase.

Ornate chandeliers, wallpaper and paint treatments
Taste is very individual and idiosyncratic decorating can turn buyers off, stick with neutral, simple decor.

Overly fancy appliances
Stainless steel-finish appliances are worth paying a few more dollars for (compared to the equivalent of white or colored models), but six-burner professional stoves, double dishwashers or a huge fridge rarely will recoup their initial cost.

Cheap laminate or vinyl tile flooring
There are some types of laminate that are attractive and practical; others just look cheap and fake. Especially avoid peel-and-stick vinyl tiles or be prepared to replace them when you put the house on the market. For not much more money, choose  hardwood, stone, bamboo or cork.

Swimming pool
There is some debate among Realtors that it is a selling feature. But a pool rarely recoups its entire cost, and it will reduce the number of  buyers interested in your home.

Turning a three-bedroom into a two-bedroom home

Even if that third bedroom is minuscule, it’s still a bedroom! No matter how spacious your newly enlarged master bedroom or that new spa bath, the demand for two-bedroom homes is significantly smaller than for three-bedrooms, and they command considerably lower prices.

Friday, 26 September 2014

The Best Upgrades for Resale.

If you are getting your home ready to sell there are definitely some upgrades that are worth their costs in helping to attract more buyers, sell your home (hopefully) faster, make back most (or all) of your investment, or even increase the value of your home.

Kitchen

A state of the art kitchen is one of the most popular renovations for earning back most, if not all, of its money. Even if you don't fully gut and renovate, certain upgrades --granite counters, hardwood or high-end tile floors, premium appliances (especially stainless steel), islands and undermount sinks  will attract attention and can increase the value.

Hardwood floors
Especially on the main floor, hardwood is perennially popular with buyers. If your floors are refinished but worn, have them lightly sanded and resealed  or if they're very beaten up consider replacing them.

Premium broadloom
Broadloom is popular too (especially for bedrooms) but only if in top condition. If it's worn, soiled or out of style, replace it with something more contemporary. Neutral, lightly textured weaves such as wool “sisal” are in fashion right now.

Master ensuite

If your ensuite is tired, it's worth upgrading, especially if you can afford a few luxuries such as a whirlpool or air jet tub, separate shower with a rainshower head, double sinks and/or heated floors. If you don't have an ensuite, perhaps you can add one by stealing space from the master bedroom or a room next to it.

Radiator covers
If you live in an older home it can be simple carpentry job, but makes almost any older home seem more gracious.

Upgraded lighting
Old-fashioned track lighting can be easily replaced with more contemporary styles such as smaller cans or halogen track lights. Replace dingy overhead lighting with chandeliers (vintage or modern), or install them in rooms that don't have any.

A finished basement
After kitchens and bathrooms, a stylishly finished basement is high on many buyers' wish lists.

Landscaping
A well-maintained garden with attractive plantings, hardscaping such as brick or flagstone, and special features such as urns or paths, add an elegant look to even a smaller home.

Front porch
If you can, add a full front porch (or replace/repair the one you have if it isn't in good condition) if not, a portico (a smaller porch that shelters the front door) can be a worthy substitute. Or add a deck or patio in the back.

Adding a bedroom
A four-bedroom house will demand a higher price than a three-bedroom, even if they're both the same size. Consider dividing a large bedroom into two small ones (as long as they're not too small, or it can have the opposite effect) or consider converting an upstairs den or sitting room.

Huge Reduction from $769,000.00 to $729,000.00


Executive Rancher with a Walk Out Basement. Panoramic view of mountains. 10'-14' ceilings, pillars, beams, 4 bed/3bath, cul de sac, inground POOL, quality finishing, prestigious Dilworth Mountain Estates location, In-law suite. OUTSTANDING home for this price! Call Steve Higgins RE/MAX Kelowna for private viewing. 250-864-7893

Traders Cove Reduced to $435,000.00


Can you imagine living in a home with these Incredible Views? Awesome entertaining Deck Overlooking Lake Okanagan and City of Kelowna. Very nice 3 Bedroom plus a walk out Basement currently rented as a suite. New Ikea Kitchen with Island, maple hardwood and Stone Fireplace. Many updates. This is an awesome opportunity to live by the lake within minutes of Kelowna. Must include Addendum A with all offers. As is where is. For viewing please call Steve Higgins RE/MAX Kelowna 250.864.7893

Friday, 12 September 2014

August Market Report.



The British Columbia Real Estate Association (BCREA) has reported that a total of 7,341 residential sales were recorded by the Multiple Listing Service (MLS) in August, were up 7 per cent from August 2013. Total sales dollar volume was $4.1 billion, an increase of 12.4 per cent compared to August 2013. The average MLS residential price in the province rose to $560,318, up 5 per cent from the same month last year. Consumer demand remained relatively busy in August.

The Okanagan and Chilliwack board areas posted the strongest year-over-year gain of 22 to 25 per cent in unit sales, while Victoria and Vancouver increase was lower around 10 per cent. Home sales last month were the highest for the month of August since 2009. With low mortgage rates, increased net-migration and improving economic conditions continue to drive housing demand in the province. Year-to-date, BC residential sales dollar volume was up 22.8 per cent to $28.5 billion, compared to the same period last year. Residential unit sales were up 15.8 per cent to 57,715 units, while the average MLS residential price was up 6.1 per cent at $564,466.

Friday, 5 September 2014

SOLD in 1 day!!

SOLD in 1 Day! And for $10,000 more than another veteran agent told my client the maximum list price should be. Pays to work with an agent that is up to date on the changing market.


Great First Time Buyer Opportunity to make this home your own.4 Bedrooms with Summer Kitchen and Huge Private Back Yard. Easy to Suite 2 Bedrooms up and 2 down. .23 Acre Lot.
Very private back yard. Furnace Replaced appox. 10 years ago. New Hot Water tank 2012. Needs a new Roof and Garage Door and Landscaping. Seller works shifts, please call to schedule appointment. All measurements are approximate, buyer should verify if important. Please call Steve Higgins Kelowna RE/MAX 250.864.7893

Wednesday, 3 September 2014

New Listing 1167 Brookside Ave, Kelowna $275,000.00


Quiet Rancher Townhome in Great Location. With newer flooring and some nice updates. This townhome has 2 bedroom and 2 bathrooms is 1234 sq.ft. also in a smaller complex within walking distance to Capri Mall.
This hom is perfect for Seniors or First Time Buyers. Please call Steve Higgins RE/MAX Kelowna 250.864.7893 for showings.

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