Mississauga Real Estate BLOG

52% of buyers said the kitchen had the most significant impact on their purchasing decision - effective staging will address this!

In today’s Mississauga real estate market the staging of homes prior to going on the market is quickly becoming a hot button. If you are considering selling your home here are some facts that may be helpful in determining whether to “stage” or “not stage”!

• 58% of buyers made a decision to buy after seeing 10 properties—effective staging keeps your house on the list of must-see properties.
• 54% of sellers are willing to spend more than $2000 to get their house ready for sale and of those, 25% were willing to pay over $5000—working with the right staging consultant maximizes your return on investment.
• 63% of buyers were willing to pay more money for a house that is move-in ready.
• 86% of those surveyed said storage space is important to potential buyers—effective staging maximizes space and spaciousness.
• Top three interior features for selling were freshly painted walls, organized storage space and current flooring—effective staging will address all three.
• 52% of buyers said the kitchen had the most significant impact on their purchasing decision.
• 79% of buyers indicated they would be willing to pay a premium for a home with an updated kitchen.
• Men (41%) are more likely to place a premium on updated décor than women (30%).
• 77% of people view homes first on the Internet.
• 75% of buyers who searched on the Internet went on to view or drive by the homes.
• 40% of paint sold is as a result of incorrect color choice—CSPTM have Staging Safe ColourTM palette specifically chosen for successful staging.
• When deciding to view a house, 78% of objective elements are generally pre-determined before viewing: they are location and size—both things are outside of a seller’s control.
• Elements that create 72% of the first impression inside the home are within the control of the seller—well-trained staging consultants know how to show these to their best advantage.
• Moderately priced home improvements, ranging from $80–$2800, made in preparation for sale, yielded the highest returns when a house was sold.
• Homes that were staged sold in 13.8 days.
• Homes that were not staged sold in 30.9 days.
• The staged homes realized on average a 6.4% increase over the list price.
• 87% of people said that home presentation makes a difference in most sales.

So if you’re looking to sell your home in Mississauga, Etobicoke or West Toronto area definitely consider home staging as part of your selling strategy and don’t hesitate to contact the top Mississauga Realtor Cynthia Shaw.

Be sure to visit my website for more information about the factors the influence the sale price of a home.

To stimulate economic growth and encourage Canadians to invest in improvements to their principal residences. Budget 2009 has proposed a temporary
Home Renovation Tax Credit (HRTC).

Individuals will be able to claim a 15-per-cent non-refundable tax credit for eligible expenditures made in respect of eligible dwellings.
The credit will apply to expenditures in excess of $1,000, but not more than $10,000, resulting in a maximum credit of $1,350 ($9,000 x 15%).

The credit will apply only to the 2009 taxation year. Expenditures for work performed, or goods acquired, after January 27, 2009 and before February 1, 2010, will be eligible for the credit.
Eligibility for the HRTC will be family-based. Family members will be subject to a single limit based on their pooled expenditures. Two or more families that share ownership of an eligible dwelling will each be eligible for their own credit. Each family’s credit will be determined by their
respective eligible expenditures in excess of $1,000, but not more than $10,000.

Eligible Expenditures

Expenditures will qualify for the HRTC if they are incurred in relation to a renovation or alteration of an eligible dwelling (including land that forms part of the eligible dwelling)
provided that the renovation or alteration is of an enduring nature and is integral to the eligible dwelling. Such expenditures would include the cost of labour and professional services,
building materials, fixtures, equipment rentals, and permits.

The following expenditures will not be eligible for the credit:

• The cost of routine repairs and maintenance normally performed on an annual or more frequent basis.
• Expenditures for appliances and audio-visual electronics.
• Financing costs associated with a renovation (e.g. mortgage interest costs).

Alterations or other items, such as furniture or draperies, and other indirect expenditures for items that retain a value independent of the renovation, such as the purchase of construction
equipment (e.g. tools) will not be considered integral to the dwelling and therefore will not qualify for the credit.

Remember, the money invested in improving your home will not always translate into an equivalent return in the selling price of your home.
Careful planning is important if you want to increase the salability of your home and make a profit from your renovations!
Please be sure to visit the selling tips section of my website to find out which renovations provide the most return on investment.