Most home owners have a pretty good sense of the market. They read the headlines, they know if the market is hot, if it’s changing or if it is a buyers or sellers market. What they don’t fully understand is where THEIR home fits into this niche, and they DON’T have a process in place to navigate their specific niche.
Just because the papers say that the market is slowing, does that mean your condo is going to get less attention? Not necessarily. Condos vs homes, 2 bedrooms vs 1 bedrooms. Every niche will have its own specific market trends.
With the proper plan, expectations, and follow through you should never undersell your home. It’s an entire process and one that if you follow and trust you will reap the rewards.
Trust the process.
As we head into a era where 90% of people start their home search online, it makes complete sense that without a flooplan some people may miss something about your home that they really would appreciate and that they may be willing to spend more money on.
The MLS only allows us to upload 20 photos. Depending on the size of the property this may only show segments of the home and it may miss some huge selling features.
A floorplan enables us to capture the entire home, and allows buyers to understand where the photos are that they are looking at.
Not to mention that Vancouver truly is an international city. Buyers that are out of town during showings will be much more comfortable submitting an offer sight unseen if you have a floorplan available. I sell a few properties every year without the buyer being present!
FLOORPLANS ALSO SAVE YOU TIME!
Buyers often want to come back once we have an accepted offer to take measurements and plan their furniture. With a floorplan already done, this step may be unnecessary and it definitely speeds up the process or lessens the number of times that they will ask for access.
I am in touch with buyers daily, and know how often buyers are asking for floorplans. Often buyers don’t want to waste their time if they aren’t sure that the layout will work. I provide professional floorplans for nearly all of my listings because they really do help.
Now that we know that floorplans bring you more buyers, make you more money and save you time, why wouldn’t you get a floorplan?
Should I paint? Should I hire a stager? Should I do renovations? How do I price my home?
These are all questions that I receive on a regular basis, and there is not a one size fits all but here are 5 tips to use as a general rule of thumb:
1) Declutter - Thin down your closets, remove everything on your surfaces, and keep the furniture to the essentials. Take as much of your “extra” stuff to storage or donate what you don’t need to Value Village.
2) De-personalize - Remove all personalized photos and any feature pieces that are a very specific taste. Remember you are trying to appeal to the masses
3) Paint - If you have dirty old walls or any extreme colours a neutral grey or white will be a cheap fix and make the house look much brighter.
4) Fix - If there are a few things that need to be fixed that you have been putting off, now is the time to do it. Make sure all light bulbs are in working order, make sure the faucets don’t leak and clean up any old holes that may be in the walls from photos.
5) Staging - bring in a stager to see what should be done. They will have cost effective ways to help make your space look larger and emphasize the good and hide the bad.
If you have questions feel free to contact me!
Rent increases have been capped in the province of BC since 2004. The usual method to determine the cap for the upcoming calendar year was to take the current average rate of inflation and add 2%.
In 2019, that would have allowed a 4.5% increase.
The NDP government has removed the additional 2%, so the maximum allowable increase will be set at the rate of inflation, 2.5%.
“It’s simply not sustainable for renters, many of whom are on fixed incomes, to see their rent increase by more than inflation each and every year,” said Premier John Horgan in a media release. “We have to eliminate the risk of such huge increases for renters. Our new approach strikes a balance between giving relief to renters while encouraging people to maintain their rental properties.”
As a result of eliminating the additional 2 per cent increase, the government says people living in a $1,200 per month apartment, which is the average rent in B.C., could save up to $288 in 2019 over what they could have paid under the old formula.
People in an average two-bedroom apartment in Vancouver could have faced paying up to $432 more over the course of the year.
“We recognize supply is key to bringing down rental costs in the long term, but renters have told us they are hurting and need help today,” said Selina Robinson, Minister of Municipal Affairs and Housing in a release.
“That’s why we are taking careful steps to address the housing crisis and ease the pressure on renters, while also making sure that landlords have the tools they need to continue to invest in their rental properties.”
The proposed change would bring B.C. in line with Ontario and Manitoba. The task force also recommended that the province give landlords the ability to apply for an additional increase if they can show the formula would not cover maintenance and other costs, as is the case in other Provinces with rent control.
In Ontario, landlords can apply for an "Above Guideline Rent Increase” under certain circumstances, including if the landlord’s taxes increased by an “extraordinary” amount, the landlord did significant repairs or the landlord’s costs for security services increased.
Above-guideline increases for repairs or security services are capped at a maximum of 3 per cent above the guideline in any one year. There is no limit on the percentage rent increase above the guideline allowed for an extraordinary increase in taxes or utilities.
The province of Alberta is looking at implementing their first rent control program in 2019.
Full recommendations for BC are expected to be released in November of this year.
Vancouver councillors have officially finished two days of public hearings by voting to allow duplexes in most city neighbourhoods that are currently restricted to single-family homes.
The decision is another step toward adding homes in the city for young families pushed out of the Vancouver market by soaring property prices.
A press release from the mayor's office says the policy change will allow duplexes on approximately 67,000 single family lots, offering more affordable options than detached homes.
The 7-4 vote was split along Mayor Robertson, five Vision Vancouver members and councillor Hector Bremner approving the motion, while three Non-Partisan Association councillors and the Green party's Adriane Carr voted against it.
Robertson said the duplex proposal is not a ``silver bullet'' that will resolve Vancouver's housing problems, but says it responds to the demands of residents.
``Over the past two years of consultation for the new Housing Vancouver strategy, we heard loud and clear that Vancouverites want more housing options in single family neighbourhoods,'' he says in the release.
The change aligns zoning in expensive and increasingly unpopulated neighbourhoods such as Kerrisdale, Dunbar and West Point Grey with regulations in crowded and growing areas such as Kitsilano and Strathcona.
Robertson says the policy is a ``modest, but important change.''
As a way to reduce speculation on land values, the mayor's office says the new policy does not allow for an increase in height or density on a single-family property, but it says other measures to add density are being planned.
``Further work is underway as part of the Making Room program to bring forward options for rowhouses, townhouses, and low-rise apartments- with a priority on rental housing and co-ops in low-density neighbourhoods,'' the release states.
That report could potentially be brought to council by next summer.