Don’t look now, but Toronto and the GTA are smack-dab in the middle of the hottest real estate market the area has ever seen. Every month, home prices and numbers of units sold continue to defy the endless predictions that “it’s got to stop sometime”, and they instead grow at a double-digit pace.
Even if you weren’t planning to sell your home, the high prices might have forced the idea to cross your mind. Even those who bought detached homes in the last 5 years could easily get hundreds of thousands of dollars more for that home today.
What if You Decide to Sell Your Home?
In a nutshell, it’ll go something like this:
- You Call a Real Estate Agent
- They ask questions like, “what’s your location?”, “how big is the house?” and “what shape is it in?”
You can do absolutely nothing about many of the factors that influence the price you can get for your home. If your home is located in a nicer neighbourhood, you will get more money than if it’s located in a not so nice neighbourhood. And, unless you plan to build an addition to your home just to help sell it, which would be ill-advised, you can’t change its size.
How to Maximize the Value of Your Home
But, as for the condition of your home, you can do a number of things to help present the house in the best possible way. Called “staging” your home, it means making the house more appealing to potential buyers by making changes that are known to help sell houses.
The two most important rooms of the house, when it comes time to sell, are the kitchen and bathroom. In the end, the other rooms are just that, rooms. But your kitchen and bathroom have unique roles to play and potential buyers pay special attention to them
That means it pays to “stage” them first. One great way to do so in both rooms is with cabinet and door hardware:
- Cabinet Handles and Pulls – If either your bathroom or kitchen have not been updated in the past few years, a great way to quickly “modernize” them is with new handles and pulls on cabinets.
- Door Handles – Important for how they feel as much as how they look, when potential buyers use the ergonomic handles on your bathroom door, the impression they get will have a positive effect on their view of the entire house.
- Architectural Hardware – When you enter a room, your eyes are drawn to brighter spots. From towel racks to heating and air conditioning vent plates, the can quickly be updated to improve the ambiance of a room.
While home staging involves much more than handles, knobs and accessories, you will probably not get a higher return on any other improvements you make to your house.