MORTGAGE SOLUTIONS

Renovation ROI

Depending on your respective housing market, sometimes all a home needs to sell quickly - and at a good price - is a bit of a facelift.  Unfortunately, most of us don't have unlimited resources to play with, which is why it's important to approach any renovation strategically. Not only is it important to know your budget, but it's also important to think about the maximum price your home could likely sell for on the open market - and make sure renovations don't cost more than what you're realistically likely to bring in. If first-time buyers are most likely to buy your one-bedroom condo, for example, you don't want to include top-of-the-line upgrades that they're unwilling - and unable - to pay for.

That being said, spending wisely in the following areas will likely give you the most bang for your buck, according to the Appraisal Institute of Canada:

1. Painting and interior decor

Most prospective buyers can't help but fall in love with a well-staged home. Investing the time to add a coat of paint to the walls and either buy or rent some fashionable furniture will go a long way in getting a 'sold' sign on your front yard.

2. The kitchen

While a kitchen renovation can often be the most pricey, you're virtually guaranteed a return on your investment. New buyers love new appliances, fancy countertops and plenty of storage space.

3. The bathroom

They don't call it the 'throne room' for nothin'. A bright, clean bathroom – with nice fixtures and tiling – will make prospective buyers feel at home.

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Protect your home from air pollutants

Health Canada has launched a cross-Canada study of home air quality with the help of the University of Alberta, according to the CBC.

The study – which will look at homes in Edmonton, Halifax, Quebec City, Regina and Windsor, Ont. – will focus on a range of indoor pollutants, including dust, smoke and chemical levels.

While a lot of attention has been given to the dangers of outdoor air pollution, many Canadians are still unaware of the dangers of various indoor pollutants. Basically, according to Health Canada, there are two types of pollutants we should all be wary of in our homes: biological and chemical.

Biological pollutants include living organisms like mould, bacteria and dust mites. Chemical pollutants are gases and particles that come from various building materials and household cleaners. Poor ventilation, ill-maintained appliances, or a dirty home can increase the effects of these pollutants.

To reduce the presence of indoor air pollutants in your home, be sure to vacuum and clean your home frequently, and ensure adequate ventilation – especially in areas that are prone to moisture, like washrooms. Store all chemicals – like paints and varnishes – outside of the living area, preferably in a place like the garage. Opt for natural cleaning products – either by making your own from natural ingredients or buying a "natural" brand name – and avoid using air fresheners and other chemically-created fragrances.

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For Sale: A prefab eco-friendly home

With the cost of living increasing across the country, it seems everyone is looking to save a few dollars where they can – even if it means "going green". While turning off lights when you leave a room is one way to conserve energy, why not start from the ground up and purchase a pre-fabricated energy efficient home?

The EcoFabulous Home – which was featured at the 2008 British Columbia Home and Garden Show – is up for sale. The 1,000 square foot home, with a 400 square foot balcony, took eight weeks to build and is made of 100% recycled paper, sustainable wood and features zero VOCs. It has a hydronic heating system and a non-electric thermostat and solar panels, in addition to an integrated home control system.

These prefab homes go for $160-$180 per square foot. To find out more about the EcoFabulous Home – as well as other prefabricated eco-friendly homes produced by Vancouver-based Kanau Uyeyama Architect Inc. – visit www.prefabuloushomes.ca.

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Staging inspiration

Want to sell your home quickly? Effectively staging it can drastically reduce the amount of time it sits on the market. Many homebuyers just can't see beyond a jarring paint colour or cluttered room - so make sure you stick to neutral colours, and ship those extra toys and collectibles out of the house. Arranging your furniture to maximize the space of a room can also make a huge difference.

If you're looking for inspiration, check out this before-and-after staging video:

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Top tips for the best garage sale on the block

There is no better way to rid your home of unwanted items than a garage sale. And there’s no better time to place those household goods on display than the sunny summer months.

If you’ve been thinking about doing just that, here are a few tips to keep in mind:

1. Get the word out. An ad in the paper and cardboard street sign are no longer the most effective means of garage sale advertising. Instead, go where the bargain hunters hang out – namely craigslist, kijiji, and Facebook marketplace. Don’t completely neglect the social media realm, however – a large portion of your garage sale clientele likely still aren’t familiar with the wonders of social media

2. Know your price – but be willing to negotiate. Make sure all your merchandise is labelled clearly with the appropriate price. Remember that the entire reason people shop at garage sales is because they want a bargain – so be prepared to haggle. For those items that may have a bit of a higher value, try posting them on eBay instead.

3. Stage! During peak garage sale season, there will likely be a few other competing sales on the same weekend as yours. To ensure you’re getting the most traffic, stage your merchandise. Put your highest valued items in the most prominent location – and make sure everything is neatly organized.

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