Make an Old Home New With a Home Renovation Contractor in Brampton

Buying a home in Brampton is no joke. Home prices are high in the ninth most populous city of Canada. Because of high population and proximity to Toronto city, Brampton has witnessed an exponential rise in real-estate prices.

If you are interested in buying a home in Brampton, you must consider different costs such as mortgage, insurance, repairs and maintenance. Also, do not be in a haste to make a decision. You may want to buy a new home because you like the feel of a brand new property. But, escalated real-estate prices in the Peel region are making things difficult for home buyers. According to thestar.com, Brampton home prices rose by 17 percent in 2016. So, if you buy a new property, you will have to part ways with a large amount of money.

Buying an Old Home Makes Sense

When you want to make a real-estate purchase, consider old homes because of the following reasons:

· The median age in Brampton in 33.7. It is the youngest community of Greater Toronto Area. There are many young and first-time home buyers in the city. And, if you are a first-time buyer who is looking for affordable options, an old home can be the right choice for you.

· Old homes have matching décor and appliances. It means you do not have to spend money on buying refrigerator, stoves, air conditioner, etc.

· If you buy a brand new home, you will have to spend money on enhancing the curb appeal of the property. But, if you buy an old home, you will be able to avoid the cost. It is because you will have the opportunity to use the existing garden, deck, driveway, etc.

Do not worry if the Old Home doesn’t match your Requirements

People avoid buying an old home because they are worried about its condition. Also, they believe that upgrading the home to match their standards is an expensive task. But, the reality is different. You can consider renovating your home beautifully with the help of an experienced home renovation contractor. He will understand your requirements and help you in creating your dream home.

Do not make a swift hiring decision. Before hiring any contractor, consider the following tips that will make renovating your old home in Brampton a piece of cake:

· Harmonized Sales Tax (HST)

It is a consumption tax that is not applicable on the sale of a new home in Brampton. However, if you undertake the work of renovating your home substantially, you will have to pay HST. According to the Canada Revenue Agency, substantial renovation work involves repairing or replacing 90% or more of the interior of your home.

An experienced home renovation contractor will have knowledge about the rules related to HST. He will help you in avoiding the tax by showing you ways of minimizing the renovation work. So, do not make the mistake of hiring an amateur contractor because it will result in an expensive deal in the future.

· Mature Neighborhood Provisions

There are several old neighborhoods in Brampton. And, the City Council wants to protect their unique identities. In September 2014, it introduced several new standards to ensure that any change to a home in a mature neighborhood is consistent with unique character of the area. So, if your home is near Bovaird Drive, Dixie Road or any other mature neighborhood, it is important to consult an experienced home renovation contractor. He will inform you about the different rules of renovating your home. Also, he will help you in obtaining the site plan approval from the Planning Department of the city.

· Building Permits

It is better to contact a home renovation contractor who has experience of working in Brampton. Consult someone who understands the laws of the city. It will help you in obtaining relevant permits from the City of Brampton. If you undertake any kind of renovation work without the permission from the Building Division of Brampton City, you will have to pay hefty fines.

An experienced home renovation contractor is necessary to inform you about the renovation projects that do not require permit from the local government. If you undertake the renovation work on your own, you will not know whether you require a permit for it. It can create confusion and waste your precious time.

Renovating an old home is not a cause of headache. If you hire a good and experienced home renovation contractor, you will not face any trouble in upgrading the home and making it new. So, do not spend your hard-earned money on a new home. Instead, make a smart decision of buying an old home.

Top 6 Real Estate Secrets When Selling Your Home

Top 6 Real Estate Secrets

#1: Open Houses Don’t Work.

Open houses are a thing of the past. Years ago, when you wanted to sell your home, the only way that buyers could see the inside of your home was to be invited to view your home via an open house or making an appointment with the agent listing your home. Now, if a buyer wants to see your home, they can just go online, to any of a dozen sites, and see the inside of your home without ever having to leave their living room.

The truth is open houses don’t work! Real Estate agents host open houses not to sell your home, but to obtain additional clients who are looking to sell their homes (including your neighbors). The fact is, you are more likely to win the lottery than sell your home with an open house in most areas.

#2: Marketing is Job Number 1.

If you are selling your home, the real reason you hire a Realtor is marketing. A Realtor’s job is to get as many qualified buyers to your home as possible so that you can sell your home for the highest price. Marketing is the cornerstone of the Real Estate business and a Realtor that does not know marketing, is not worth the commission. Many Realtors avoid the topic of marketing and try to confuse homeowners with internet terms and the size of their firm, all of which means nothing to the actual sale of your home. Here are the things you should be aware of:

* When you hire someone to sell your home, first make sure they are a Realtor and ask to see their Realtor card. There is a big difference between Realtors and Real Estate agents. Real Estate agents cannot list your home in the MLS, a database of homes for sale by participating Real Estate firms.

* Make sure you select a Realtor that truly understands marketing – proactive marketing. All agents use the internet, so that is no big deal. All listings will likely be on Realtor.com and Zillow. Have your agent do a S.W.O.T analysis for you, find out if they work full-time as a Realtor, and ask them what they do that DOES NOT involve the internet to sell your home. Find out how long they have been Realtors, and ask to see any 3 homes sold in each of the last four years. In a very short time, you will be able to sort through the wheat and chaff.

* Don’t be fooled by the most common secret. An agent will mention they work for a big firm, and therefore, your home will get more views on the internet. This is not true, in almost all cases, any home being listed by a Realtor will be listed on the website of all the Real Estate firms in the area and most national websites as well. So even if you list your home with “Mom and Pop Realty,” your home will show up on even the big companies’ Real estate websites.

#3: Discount Brokers/Limited Service Brokers Can Be a Good Choice.

Regardless of what the industry tells you (including real estate agents) these firms have a place at the dinner table and serve a vital function in the industry. Let’s be honest – all people are a little frugal, and if you could find a cheaper alternative to paying a Realtor, you would. On occasion, discount brokers/limited service brokers can save you money.

Here are two specific cases where we refer our clients to limited services/discount Realtors:

Scenario 1: You have a home under $120,000 (don’t be jealous, Californians and New Yorkers).

Real Estate is a business, and agents are people who rely on that business to pay their own bills. So, if your agent works at a firm that takes a cut of the commission (in many cases 30-50%), the agent must determine if selling your home is a good business decision. Lets look at the numbers:

* Home Price = $120,000

* 3% commission (Listing Side only) = $3600

* Minus Firm Split (35%) = – $1260

* Minus Taxes (25%) = – $900

* Minus marketing = – $800

* Leaves a net commission of $640, to the agent

If the agent only nets $640 on the deal, how much time can you reasonably expect them to spend on your behalf selling your home? In this case, using a limited service broker could save you $2000+ dollars on the listing side after the cost of the limited broker fees and expenses are deducted.

Scenario 2: You are in a super hot market.

If you are in a market that is so hot that all you have to do is put a sign in your front yard, then limited service is a good option. They put your home in the local MLS system and buyers just show up. AWESOME! The key to making this work is to have your home appraised before you call the limited service brokers to make sure you are selling your home for the right price. Once you get a contract from a buyer’s agent, hire another agent or lawyer to help you with the details on an hourly or fixed-rate basis. The key is making sure you only accept contracts from buyer’s agents. If you are not sure what that means, get clarification in your state. (I can’t give you all the secrets!)

#4: All Agents Are NOT Created Equal.

Just like any industry, there is a range of competence within the Real Estate world; However, many people believe that all agents are the same. I suggest that when you are interviewing agents, request that they send you the contracts ahead of time, and prepare a set of questions for them to answer. If you are in North Carolina, here are just a few questions I suggest:

* What is dual agency? And do you practice dual agency?

* What is the difference between due diligence and earnest money? And what happens if a buyer cancels the contract?

* Am I required to do repairs on my house, or is my home sold as-is?

* Show me the marketing plan for my home, not a generic presentation.

#5: Some Agents Will Try to “Buy the Listing.”

This is when an agent convinces a homeowner they can sell their home for a price significantly higher than market value. This tactic is successful when an owner uses money to select the agent. The agent’s intention is to have the owner sign the listing agreement under the auspices of an inflated sales price, and then the agent will steadily lower the price of your home until it actually sells.

#6: For Sale By Owner (FSBO) Homes Don’t Save Money and Time.

The company line for agents is that they will help you buy any home; however, most agents do not like to deal with FSBO properties. First and foremost, Real Estate is a FOR-PROFIT job. Owners selling their own home have made a decision not to pay a Realtor, but your agent does not work for free. Therefore, as a buyer, if you choose to consider FSBOs, you need to have a discussion about who is responsible for paying commissions. In many cases, you as the buyer could be responsible for paying the commissions on the deal in addition to closing costs and down payments

Top Home Remodeling Projects for a High ROI

If you are looking to add value to your home, be it to make it more perfect your needs or because you have plans to sell it, then you don’t want to invest money in a home remodeling project that has a low return on investment. However, determining what remodeling projects will bring the biggest bang for your buck might be a challenge – especially if you have a limited budget!

In recent years, there has been a resurgence of homeowners looking for ways to give their home’s a new look – but not every upgrade has an ROI worth talking about. Here are some of the top home remodeling projects for garnering a high ROI.

· Landscaping – While not actually a home remodeling project of the building type, research has shown that yards where the lawn is well-maintained and logically laid out can make a huge difference in the curb appeal of your home and thus, how much you can boost your home’s equity.

· New Roof – Want to get as much as a 105% ROI on a home remodeling project? Then talk to your local roofer about upgrading your home’s roof. While a new roof may not be the sexiest home remodeling project, it is one with a high return!

· Hardwood Floors – These too bring a huge ROI – in fact it is nearly a 100% ROI – perhaps more should you decide to do the work yourself, or happen to discover that underneath those tired carpets you have gorgeous hardwoods just waiting to be refinished.

· Patio or Deck – Boost your living and entertaining space while increasing your home’s value. Choose building materials known for longevity and get more value for your investment.

· Doors – From upgrading the front door to a safer more secure option such as a steel entry door to replacing old outdated garage doors for newer ones with better features and more insulation, upgrading the quality of your home’s doors can have a significant uptick in the value of your home.

· Kitchen Remodel – A minor kitchen remodel, say new countertops or cabinetry, can improve your home’s resale value by as much as 80%.

· Bathroom Remodels – This is a prime way to recoup a solid ROI. A home remodel that involves updating a bathroom with new fixtures, lighting and vanity, or perhaps adding anew bathroom to home’s layout are a great way to improve your home’s resale value and living space. It should be noted that you don’t want to make huge changes, however, as those can sometimes have a negative affect or not have as high an ROI.

Remodeling one’s home can be a fun project, whether you are doing to improve the resale value or simply to make your home more suited to your needs. If you have questions about improving your home’s resale value, then now is the to talk to a local home remodeling team and get started on crafting a home design that works for needs and your budget.