Here’s an informative London home seller’s guide to help you increase your home’s value and avoid costly repair scams when getting estimates and quotes, or doing some of the touch-ups yourself!

Each year, hundreds of homeowners unnecessarily lose thousands of dollars when selling their homes in London, Ontario, and the surrounding area.  But they don’t lose the money for reasons you might think. They lose money because they unknowingly left it on the table for the buyer to pocket by failing to recognize their home’s hidden profit potential.

Discover the untapped potential of your home’s value. Unbeknownst to many homeowners, minor, affordable repairs to their existing homes can yield significant returns, often exceeding their initial cost.  However, not all repairs are equal; some can incur substantial costs. Understanding which repairs and improvements are worth your investment is key.

Those hidden profits exist in two areas. 

First, some homeowners may not realize that even minor, inexpensive repairs to their existing home can generate many times their cost in additional home value.  However, other repairs and improvements can be costly.  Knowing which repairs and improvements to invest in and which ones to leave alone is critical.

Second, when many savvy homeowners decide to make profitable repairs before selling, they expose themselves to potentially deceptive contractor practices, which can drive up repair costs.

It’s easy to see how you might become overwhelmed by the entire process, from not knowing which repairs will maximize profit to navigating the world of contractor schemes.  But don’t despair.

That’s Why I Created This Helpful Report

Below, I will reveal precisely what areas make sense to fix and what areas to leave alone, and not use “uninformed opinions” but real-world facts.  Then, I will give you a “behind-the-scenes tour” of the games some contractors play when fixing your home (by the way, not all contractors are sinister – I know many with stellar reputations).

This way, you’ll be armed to the teeth with knowledge and strategies to stay one step ahead of the game and maximize the value of your home when you sell.

How to Select Home Improvements That Pay Dividends

Generally speaking, there are two primary approaches to home improvements.  You’ll either splurge on your home because it’s your palace and you want a beautiful place to live, or you’ll take a more logical, pragmatic approach designed to increase your home’s value.

The problem is, you’ll never achieve both.   Many homeowners expose themselves to the problems they try to avoid in home fix-ups.

Take Carol and Tom Jenkins, who purchased a home for $690,000 a few years ago. Since then, they’ve spent over $70,000 fixing it up and making it the “perfect” place to live. A few months ago, they listed the home for sale at $835,000. The best offer they received was only $799,000.

Their mistake?  Spending money on amenities and features that were ancillary to the home’s value.

Just because you spend x on fixing up your home doesn’t mean you’ll recoup it when you sell.  It doesn’t automatically increase your home’s worth by x amount.  That’s precisely why you need to know which fix-ups pay off big and which ones will potentially cost you thousands of dollars.

Let’s review the most common areas of renovation.

Painting Your Home

Painting 90% of the time is a good investment

Time and again, painting is one of the most basic yet profitable home fix-ups.  There’s virtually nothing a coat of paint won’t fix, especially if you plan to sell your home within a few years.

On average, professionally painting the home’s exterior costs $8,250 and recovers nearly 100% of the cost.  But that’s not the good part of the painting.

Studies also show that painting significantly reduces the time to sell.  Reducing time to market means saving thousands in interest, taxes, and other overhead costs associated with maintaining your home and mortgage during the “for sale” period.

Rather than spending money on your home’s less visible “infrastructure” issues, you’re frequently better off fixing the cracked front steps and painting the entry and front door.

Kitchen Fix-Ups

Here’s an area that can mean serious profit when selling your home.  Even minor, fundamental improvements to your kitchen can pay big dividends.  For most buyers, the kitchen is the heart of the house.  And that means it has the most significant profit potential.  Here are a few suggestions for improving your kitchen without investing tens of thousands in remodelling costs.

In the short term, consider changing floors, cabinets, and fixtures.  Consider sanding, staining, or painting dingy-looking cabinets to give them a fresh look.  Replacing old cabinet hardware (a low-cost improvement) can make a massive difference in appearance.

Examine your countertops and other visually appealing surface areas.  Also, look at the kitchen sink and fixtures.  Replacing them with contemporary fixtures and a new sink can improve aesthetics and reduce hard-dollar costs if they’re old and worn. In some cases, spending $6,000 on a cosmetically outdated kitchen can add as much as $15,000 in extra value to the home.

Adding New Space

Generally, improvements that increase the home’s functional space are good profit centers.  For example, one homeowner had a storage area accessed outside and bordered by the laundry room.  The homeowner removed the laundry room wall to the storage area, eliminated the exterior door to the storage area, and added more than 100 square feet of storage and usable space, now accessible from the inside rather than the outside.

The repair, which cost only about $3,000, increased the home value an estimated four times the cost to perform.

Converting an attic into a bedroom suite can instantly transform your four-bedroom home into a five-bedroom home and significantly increase its value.  Waterproofing and improving a basement for additional storage (a job that costs about $5,000) can recoup well over its cost once the house goes on the market.

Look around your home for areas that can be easily expanded, refurbished, or functionally added to increase the number of bedrooms, bathrooms, or usable square footage. You’ve found a significant profit center.

Enclosed are Decks and Patios

Most exterior improvements don’t deliver strong returns, but here’s a great way to increase your home's overall square footage and value.  Consider installing a deck or enclosed patio.

This not only enhances your home's aesthetics but also its usability.

Decks and patios can range in cost between $6,000 and over $15,000, and, in most cases, recoup at least 90% of their price in extra home value – especially if you’ll be living in the home for a few years.

Adding an Extra Bathroom

According to Remodelling Magazine, adding an extra bathroom will typically pay for itself.  The average cost of a bathroom addition is approximately $26,000, including all the trimmings – a marble vanity top, sink, ceramic bathtub and commode, and a custom tiled shower.

Here’s another profit pointer: a second bath adds more value to a home than a third bath.  When adding baths, consider using skylights, windows, and other methods to bring in natural light.

Here are a few areas to avoid.

Replacing Windows and Doors

Even replacing windows and doors with energy-efficient models is generally a bad idea.  Investments in windows and doors typically return only 36% to 53% of their cost, while $1,280 in caulking and insulation can yield over 71%.

However, if your windows are old and leaking, you should replace them.  Consider using standard-size windows rather than custom-cut models.  The savings on your utility bill might cover them alone.  The minute you get into customizing windows with fancy shapes, bays and bows you can’t see from the street, you’re throwing your money down the drain.

Swimming Pools

Swimming pools have different value levels depending on the region where they’re located.  Warmer climates tend to prioritize pools because they can be used more days per year.

However, in either case, there is generally little resale value.  Pools turn off more buyers than they attract because they require expensive, time-consuming upkeep.  Running a close second is the fear of liability from having a pool.  Pool accidents can quickly lead to a negligence lawsuit.

The verdict?  Be very careful before you go spending money on a new pool.

Gardens, Walls, and Fences

Fancy gardens and extensive landscaping are generally among the biggest losers.  The same applies to large walls and elaborate fences.  Homeowners can spend tens of thousands on beautifying their home's grounds but rarely recoup their investment.  Why?

Unless you’ve a horticultural buyer looking at your home, most buyers consider the time and money required to maintain lavish landscaping.  However, that’s not to say that your home shouldn’t have lovely grounds.  The same situation can work against you if your home is perceived as the “weak link” of the neighbourhood because of its landscaping.

The key is to design your landscaping in harmony with the surrounding homes.  If that requires spending a little money, so be it.  But don’t expect to get it out at the sale price.

Functional and Structural Improvements

Here’s a sad paradox: Many of the improvements that offer the most outstanding value to you as a homeowner often deliver the lowest resale value.  And usually, those improvements are functional or structural.

For example, installing a new plumbing system will make your home more comfortable. Still, they’ll fail to recoup their costs in added home value unless you live there for some time.

Unfortunately, when certain functional items fail, you have no choice but to fix them.  This includes water heaters, HVAC systems, plumbing, and foundation issues.  However, be cautious about where you spend your hard-earned dollars.  As the saying goes, “If it ain’t broke, don’t fix it.”

How to Avoid Home Repair Rip-Offs

By now, you’ve probably identified several areas you could improve in your home and start reaping extra dollars in value.  But there’s still another hurdle to overcome.  And it’s an important one.

Thousands of consumers report home repair scams to the Better Business Bureau each year.  Home repairs are second only to car repairs on the “rip-off” list.

Here’s the inside story on the most common games played, plus several tips to help you avoid becoming another contractor victim.

Selecting Painters

The key to a great paint job isn’t necessarily in the painting but in the prep work.  And this is the area where you will either get “taken” or get a great job.  If you own a two- or three-story home, it isn’t easy to ensure every inch has been adequately scraped, sanded, patched, and primed when climbing up a ladder.

However, taking the time and effort may pay off with big dividends.   Here are a few tips to make sure you’re getting your money’s worth out of your painter:

1. Verify that all priming and preparation have been done. Ask your painter to use a primer paint colour that differs from the current or finish paint colour.  For example, if your existing colour is white, ask them to use a light-gray primer.

2. Get a detailed on-site estimate to avoid unpleasant surprises. You don’t need to go through three estimates for the same job.  Just get two estimates if they’re in the same ballpark.  But ensure they’re detailed so you know what you’re paying for.

3. Don’t scrimp on paint. Use high-quality paint, even if you can only afford a single coat. But don’t buy the top-of-the-line, either.  Your best bet?  Select a colour that’s one step down from the top-of-the-line premium paint.

4. Remember that painters do better on paint prices than you will. Frequently referred to as a “contractor price,” your painter can, for example, buy paint at $62 a gallon and resell it to you for $75.  Even with the markup, it’s still a better deal than buying it at the $85 retail price.   Make sure to ask your painter how their paint pricing works.

5. When evaluating exterior painters, ask for addresses of homes they painted about five years ago. Then look at them.  A good paint job should last about seven years.  At five years, you’ll see just the beginning of paint wear around the eaves and gutters.

6. Remember, no matter how much you haggle with potential contractors to lower their bids, they still need to make a living. You can push too hard.  If you pressure painters to accept lower prices, it only means they have to find cheaper labour to do the job.  And affordable labour means a shoddy job.  Either way, you generally get what you pay for.

Selecting Plumbers

Here’s the “inside scoop” on plumbers: you won’t pay much for the “parts” they use; they make their money on labour and “mobilization charges.”  Frequently, plumbers charge a minimum of one hour, regardless of the actual time spent on the work.

If you’re paying a plumber a minimum fee to show up anyway, why not ask them to handle other plumbing work, such as fixing disposals, pool or lawn sprinklers, leaky faucets, or washers that need replacing?  Use up the minimum he will charge you for fix-up projects.

Plumbing problems are challenging to estimate.  To help you in the process, here are several tips to consider:

1. Explain your job or problem over the phone, then ask how they will address it, what the cost will be, and when the work will start and be completed. And here’s an important tip: if you live in an affluent neighbourhood, do not give your phone number or address until after you’ve been quoted a price.  Some plumbers pay 50% more when they learn you live in an affluent neighbourhood.

2. If a highly recommended plumber has no idea of the job’s cost, negotiate a flat rate to inspect the issue and provide a quality bid.

3. When dealing with tradespeople who charge by the hour, ask if travel time is also included on the clock.

4. Check for shoddy work or tactics your plumber may use to boost their profit margins at your expense. For example, some use a ½-inch pipe instead of a ¾-inch pipe, which may prevent your toilet from flushing correctly in bathrooms with a shower.  Alternatively, if a plumber uses L- or K-grade copper piping, you can expect a life expectancy of 5 to 10 years, compared with M-grade piping, which typically lasts 15 to 20 years.  And some plumbers use plastic pipe, which is inexpensive but noisier and less durable than metal.  Ask your plumber what he’s using before he starts his work.

5. If you suspect your plumber is overcharging you for materials, visit Home Depot or a plumbing supply house and obtain a price quote for the same materials. You can still check the price tags even if they don’t sell directly to consumers.

Selecting Electricians

Electricians receive the fewest consumer complaints, likely because they must adhere to the most stringent national standards.  Before hiring an electrician, make sure they are licensed.

You should also check (along with all tradesmen you consider) that:  1) he’s licensed and insured; 2) he has no complaints with the Better Business Bureau in your area; 3) he’s driving a truck or van with a painted-on sign and logo; and 4) he’s willing to write you an estimate on his own printed invoice, which should reveal a street address rather than a post office box.

However, electricians can easily take advantage of you on parts.  A cheap electrical switch costs your electrician 99 cents compared to $4 for a longer-lasting one.  When obtaining parts from your electrician, ensure he uses “specification grade or better” products – a standard set by the CSA.

Selecting Roofers

Better Business Bureaus have their files stuffed with stories of roofers who ripped off consumers and skipped town.

If you’ve got a leaky roof, chances are it’s a flashing problem.  This is the material, typically made of copper, galvanized steel, or aluminum, that connects your roof to the chimney with a black, sticky substance called asphalt cement.  If you need flashing fixed, plan to spend about $30 to $50 per hour to set it correctly.

Be wary of the roofer who gazes at your roof and announces, “Your roof is 15 years old, and it’s gonna leak soon if you don’t replace those shingles.”  The only way to determine whether you need a new roof is to get up there and inspect it.  Worn-out shingles, which have lost their oil and thus water repellency, look brittle, curl up at the edges, and often crumble into powder when broken.

A new asphalt shingle roof is typically costed out per “square” (a roofer’s square is 100 square feet), depending on the quality of the shingles and the slope of your roof.  A shingle roof should last 15 to 20 years.

If you plan to move out of your home soon, you might want to consider a “second coat” of shingles.  This will eliminate the need to strip off the first layer, saving you approximately 20% in labour costs.

Selecting HVAC Specialists  

The most common scams involving HVAC (an acronym for “Heating, Ventilation, Air Conditioning, and Cooling”) include substituting used parts for new ones and replacing components that don’t need replacing.

The solution?  Always ask to see the old or broken parts before they’re replaced, and examine the packaging and documentation of any new features used.

And here’s another tip: have any HVAC repairs performed during the off-season.  Air conditioning and heating work is up to 10% less expensive during the off-season.

Also, avoid extended payment plans.  There’s no free lunch, and it’s assumed you’re paying for the costs of money somewhere in the job.   If you purchase a service contract, ensure your contractor details everything that will be performed under the agreement and that they have up-to-date equipment to complete the job.

And if you need to replace an air conditioner or furnace, eliminate the bidder who estimates the job off the cuff without measuring your windows, asking about the type of insulation you have, and considering the direction your home faces.

Should You Get A Written Contract?

Written agreements help ensure a tradesperson keeps their word, provided they’re detailed enough.  However, a piece of paper doesn’t protect you from being taken advantage of.

If you get “duped” by a licensed contractor, you can complain directly to your local Better Business Bureau or other local agencies and request a hearing or arbitration.  Suppose you’re dealing with an unlicensed tradesperson. In that case, your regional Better Business Bureau may help arbitrate the situation, but if the contract was large enough, you might be forced into the courts for satisfaction.

Whether or not you receive a contract, ensure that after work, you receive a written statement stating that all work performed has been paid in full.  Or, better yet, when you submit your final payment, write that statement yourself and ask the tradesman to sign it.

Get Expert Advice and “Hand-Holding” Guidance In Getting the Most Value Out Of Your Home

Are you confident in your ability to avoid home repair fraud? But there’s still another hurdle to overcome.  And it’s an important one.

Thousands of consumers report home repair fraud to the Better Business Bureau each year.  Home repairs are second only to car repairs on the “rip-off” list.

Here’s the inside story on the most common games played, plus several tips to help you avoid becoming another contractor victim.

Selecting Painters     

The key to a great paint job isn’t necessarily in the painting but in the prep work. Ensure every inch is scraped, sanded, patched, and primed.

However, taking the time and effort may pay off with big dividends.   Here are a few tips to make sure you’re getting your money’s worth out of your painter:

1. Verify that all priming and preparation have been done. Ask your painter to use a primer paint colour different from the current or finish paint.  For example, if your existing colour is white, ask them to use a light-gray primer.

2. Get a detailed on-site estimate to avoid unpleasant surprises. You don’t need to go through three estimates for the same job.  Just get two estimates if they’re in the same ballpark.  But ensure they’re detailed so you know what you’re paying for.

3. Don’t scrimp on paint. Use high-quality paint, even if you can only afford a single coat. But don’t buy the top-of-the-line, either.  Your best bet?  Select a colour that’s one step down from the top-of-the-line premium paint.

4. Remember that painters do better on paint prices than you will. Frequently referred to as a “contractor price,” your painter can, for example, buy paint at $62 a gallon and resell it to you for $75.  Even with the markup, it’s still a better deal than buying it at retail for $85.   Make sure to ask your painter how their paint pricing works.

5. Remember, no matter how much you haggle with potential contractors to lower their bids, they still need to make a living. You can push too hard.  If you pressure painters to accept lower prices, it only means they have to find cheaper labour to do the job.  And affordable labour means a shoddy job.  Either way, you generally get what you pay for.

Selecting Plumbers

Here’s the “inside scoop” on plumbers: you won’t pay much for the “parts” they use; they make their money on labour and “mobilization charges.”  Frequently, plumbers charge a minimum of one hour, regardless of the actual time spent on the work.

If you’re paying a plumber a minimum fee to show up anyway, why not ask them to do other plumbing work, such as fixing disposals, pool or lawn sprinkler work, leaky faucets, or washers that need replacing?  Use up the minimum he will charge you for fix-up projects.

Plumbing problems are challenging to estimate.  To help you in the process, here are several tips to consider:

1. Explain your job or problem over the phone, then ask how they will address it, what the cost will be, and when the work will start and be completed. And here’s an important tip: if you live in an affluent neighbourhood, do not give your phone number or address until after you’ve been quoted a price.  Some plumbers pay 50% more when they learn you live in an affluent neighbourhood.

2. If a highly recommended plumber has no idea of the job’s cost, negotiate a flat rate to inspect the issue and provide a quality bid.

3. When dealing with tradespeople who charge by the hour, ask if travel time is also included in the clock.

4. If you suspect your plumber is overcharging you for materials, visit Home Depot or a plumbing supply house and obtain a price quote for the same materials. You can still check the price tags even if they don’t sell directly to consumers.

Selecting Electricians

Electricians receive the fewest consumer complaints, likely because they must adhere to the most stringent national standards.  Before hiring an electrician, make sure they are licensed.

You should also check (along with all tradesmen you consider) that:  1) he’s licensed and insured; 2) he has no complaints with the Better Business Bureau in your area; 3) he’s driving a truck or van with a painted-on sign and logo; and 4) he’s willing to write you an estimate on his own printed invoice, which should reveal a street address rather than a post office box.

However, electricians can easily take advantage of you on parts.  A cheap electrical switch costs your electrician $0.99 compared to $4 for a longer-lasting one.  When obtaining parts from your electrician, ensure he uses “specification grade or better” products – a standard set by the CSA.

Selecting Roofers

Better Business Bureaus have their files stuffed with stories of roofers who ripped off consumers and skipped town.

If you’ve got a leaky roof, chances are it’s a flashing problem.  This is the material, typically made of copper, galvanized steel, or aluminum, that connects your roof to the chimney with a black, sticky substance called asphalt cement.  If you need flashing fixed, plan to spend about $30 to $50 per hour to set it correctly.

Be wary of the roofer who gazes at your roof and announces, “Your roof is 15 years old, and it’s gonna leak soon if you don’t replace those shingles.”  The only way to determine whether you need a new roof is to get up there and inspect it.  Worn-out shingles, which have lost their oil and thus water repellency, look brittle, curl up at the edges, and often crumble into powder when broken.

A new asphalt shingle roof is typically costed out per “square” (a roofer’s square is 100 square feet), depending on the quality of the shingles and the slope of your roof.  A shingle roof should last 15 to 20 years.

If you plan to move out of your home soon, you might want to consider a “second coat” of shingles.  This will eliminate the need to strip off the first layer, saving you approximately 20% in labour costs.

Selecting HVAC Specialists  

The most common scams involving HVAC (an acronym for “Heating, Ventilation, Air Conditioning, and Cooling”) include substituting used parts for new ones and replacing components that don’t need replacing.

The solution?  Always ask to see the old or broken parts before they’re replaced, and examine the packaging and documentation of any new features used.

And here’s another tip: have any HVAC repairs performed during the off-season.  Air conditioning and heating work is up to 10% less expensive during the off-season.

Also, avoid extended payment plans.  There’s no free lunch, and it’s assumed you’re paying for the costs of money somewhere in the job.   If you purchase a service contract, ensure that your contractor details everything that will be performed under the agreement and that they have the most up-to-date equipment to complete the job.

If you need to replace an air conditioner or furnace, eliminate the bidder who estimates the job without measuring your windows, inquiring about your insulation type, and considering your home's orientation.

Should You Get A Written Contract?

Written agreements hold a tradesperson to their word, provided they’re detailed.

Ensure you receive a written statement stating that all work performed has been paid in full.  Or, better yet, when you submit your final payment, write that statement yourself and ask the tradesman to sign it.

Get Expert Advice and “Hand-Holding” Guidance In Getting the Most Value Out Of Your Home

Are you finding your house too big? Do you no longer need all that space, or is the upkeep and cleaning becoming a chore? Or, now or sometime soon:

• Are the stairs becoming a challenge?

• The landscaping and gardens are no longer enjoyable or relaxing.

• The expenses to upkeep and maintain are getting out of hand.

• All your long-time neighbours have moved, and you feel isolated.

• Has your neighbourhood changed? You don’t feel comfortable anymore?

• Do you want to cash in on your equity to travel or move closer to family?

As listed above, clients have related to me.

What holds them back most is that they currently feel comfortable in their home. The memories are strong, and they even feel that their home has a hold on them!

Unfortunately, time and circumstances change.

Noah did not begin building the ark while it was raining.

I will not discuss all the social or financial options available to you if you find your house too big. On Google alone, there are over one million articles to read! Then, you have the opinions of your children, relatives, accountant, money manager or financial advisor, church group, golfing buddies, and the unwashed.

As a Realtor, it’s a good idea to start thinking about a move within a six—to twelve-month timeframe at the latest. My most satisfied clients are those who planned two to three years prior to the move!

For those of you who want to downsize soon, there are some best practices you may want to know to ensure that you are not leaving money on the table—or worse, that your choices were not the best move for you!

No grandstanding here, but I know your challenges, your emotions, and how hard it is to push beyond your comfort zone. I have been there and have helped hundreds of clients over the years buy and sell their homes.

I have learned more than a few things and still have lots to learn. One thing I know for sure is that a process of proven steps and practices works far better than winging it.

Thinking of a move, now or in the future? You are under no obligation when you contact me. No signing anything, just a brief conversation to see if we are both on the same page!

More About Downsizing

Many homeowners believe they may have difficulty selling their home in London, Ontario. Below are a few solutions!

Older Home Without The Modern Features of Newer Homes

Older character homes

While 20% of buyers prefer older homes for location or lot size, many older homes offer more than 80% want: small bedrooms, no walk-in closet, no primary ensuite, or one-car garages. These factors can cause buyers to pass on a listing without even visiting it. Sometimes, newer homes with contractor-grade materials are harder to sell than character homes with unique features.

Solution?

What features of the home are not up to today’s standards? Sometimes, a home seller can complete a renovation, market correctly to the right buyer, or adjust the price.

Obvious Issues Like Visible No-Nos, Broken Fixtures, Etc.

Paint and fix-ups for a house

Many buyers prefer to avoid potential homes that appear to need work. Small maintenance tasks add up, like flaking paint, a dead lawn, or worn-out carpets. Larger, more noticeable issues, such as awkward property features or outdated plumbing and electrical work, can make selling extremely difficult.

Solution

Do not bury your head in the sand. Be realistic and review other homes for sale in your desired price range to understand what you are competing with. Or work with a competent Realtor who will not be afraid to tell you the truth!

Price

Overpricing a property will deter qualified buyers and leave the listing on the market, prompting questions such as, ‘What is wrong with the property?’ For some homes on the market, high monthly fees, upcoming assessments, and current interest rates affect the monthly cost of the mortgage and taxes, which in turn affect what a buyer can afford.

Solution

Price right the first time, and if necessary, for a condo, offer a few concessions to cover the condo fees, etc.

All homes will sell; it comes down to price, condition, creditworthiness, buyers’ comfort zones, or third-party fear-mongering.

Solution

I tell every client I work with I have no control over the market, but I have control over understanding the market and taking the appropriate, consistent action to get the result of the home selling.

Poor Communication

Lack of communication is a significant problem. You or your Realtor should not act like you are in the witness protection program!

                                             Solution

Be open and upfront. Get your concerns addressed. At a minimum, weekly feedback from your Realtor and you is imperative. If the same challenge keeps popping up, address it!

Poor Marketing

If you are not getting showings, marketing is the problem. However, if the place is overpriced or the home’s condition or location is poor, no marketing will help, and your outcome will be didly-squat! Cell phone pictures will not do you any favours; a professional photo shoot with video and floor plans will, nine out of ten times, outshine your competition!

                                                                     Solution

Accurate information, minimal embellishment, and marketing to the right buyer persona are key. The question to always ask is:” What type of buyer is my home the right fit for, why and where do they search for homes, and how?”

Curb Appeal

You have ten seconds or less to make a good first impression! I cannot tell you how many homes I have shown with clients who, within the first minute, lost interest.

An informative guide to help you increase the value of your home and perhaps avoid costly repair rip-offs when getting estimates & quotes!

I hope the above helps you think hard and long before putting your home on the market. That old real estate tagline “Location, location, location” should be replaced with the three Ps: “Price, Product and Promotion.”

If you were thinking of selling your place in London, Ontario, and the area, what price would you list it for, why and how would you market it?

Timing the real estate market to sell or buy a house or a condo in London, Ontario is a guessing game. If anybody tells you differently, run, don’t sign anything!

The market doesn’t care when we want to sell or buy, which is why so many quality and well-located homes end up on the market longer, or, heaven forbid, unsold!

I learned a long time ago that there are things I can control and things I cannot, and the market is not in your or my control.

You are the market.

There may be five like you or a hundred, but they are not the market.

Since we can’t control what others think, feel, or do, we can control what we do. You control your mindset, the strategies you set, and the knowledge you have or think you have.

Circumstances happen.

• If you are a Snowbird and want to sell your place in Florida in 2025, you may face the situation of ten or more of your neighbours who also want to sell. You cannot control their motivation on price and risk, only yours. If you are committed to getting out, commit and pay the price.

• You decide to list your condo for sale at a price you feel is justified. A week later, another one gets listed for 15% higher or lower. What can you control?

• When interest rates were below 2%, you waited because you thought they would go lower. When they were 4.5%, too high, you waited, and on and on it goes. Merry-go-rounds are for children, not you.

• The most significant opportunity expense is time.

Yes, I am a Realtor and cannot control the market. Timing the real estate market is not in my realm of expertise. If I have an opinion, it is, in reality, a guess. What I can control is my work ethic, values, learning, adapting and patience.

The London home seller formula has four ingredients. Like baking a cake, if you leave out one or disregard it, you will not meet your expectations!

Excited that we sold your home is good, leave some energy to start packing!

In selling hundreds of homes in the London, Ontario area, these four core ingredients make up the London home seller formula. Yes, you can add a dash of this to match your taste, but you will still want these four to be the main content.

Location

The pricing should reflect the location.  Enough said.

Condition

The pricing should accurately reflect the condition, both inside and out. 

The Market

The market is shaped by interest rates, mortgage availability, competition, and the public’s perception of the overall economy. If you must sell, price and condition will help. If you are fishing for a price, you may not have enough compelling bait.

 Price

 Price is the #1 most important factor in selling a home. The consequences of making the wrong decision can be painful. If you price your home too low, you will give away thousands of dollars that could have been in your pocket. If you price it too high, your home will sit unsold for quite a while, developing the reputation of a problem property (everyone will think there is something wrong with ii)

• What you pay for your property does not affect its value.

• The amount of money you need to get from selling your property does not affect its value.

• What you think it should be worth does not affect value.

• What another real estate agent says your property is worth does not affect its value.

• What your uncle, your hairdresser, your parents, or your children say it is worth ( even though they have your best interests) does not affect its value.

• An appraisal does not always reflect your property's open-market value.

The value of your property is determined by what a ready, willing, and able buyer will pay in the open market, based on recent closed sales of comparable properties.

A Home Seller’s Guide With Hundreds of Tips, Ideas and Solutions To Sell Your Home or Condo & Start Packing!

Most of us have been in real estate denial at one time or another. At times, we confuse our situation or circumstances with problems. Bear with me a bit here, and in my simple way, try to explain.

 Is it a Situation or Circumstances?

• You don’t have enough money for a down payment; that’s your situation.

• Mortgage payments are too high; that’s a situation.

• You can’t find a house you like in the area you like with everything you want; that’s a situation.

• Your spouse, mate, children, parents, or dog don’t want you to move; that’s not a problem, that’s a situation.

• Your house is too big or too many stairs, but you love your garden and neighbours, that’s a situation.

• As a real estate investor, you can’t make any money; that is not a problem, that is a situation.

I am not being glib, but when most people say they have a problem, they either quit, sit on the fence, or deny themselves the right frame of mind. They get angry, blame someone else, criticize someone or everyone, and deny any responsibility for their situation. Albert Einstein said that if you use the same mindset that got you where you are now, it will not get you out!

The single parent who works two jobs, denying their comfort for their children, has a situation but is doing something about it, as is the young married couple, or the newly arrived family in Canada, saving and sweating for a better life, that is a situation because they are doing something about it and don’t see setting aside money every paycheque, busting their butts to feed their family as a ‘problem’ but an opportunity! They find a way, they don’t complain about their circumstances, they do something about it.

Stock market going down, your RSP taking a hit, that’s not a problem; it’s a situation, a circumstance that you have some control over, do something about it, and if you don’t know what to do, that’s on you!

Trying to lose ten pounds for the last ten years is not a problem; it is a situation. There are millions of articles on how to lose weight, so is it a problem or a situation? Or most people solve the situation by buying bigger pants!

Is the weather a problem? The temperature? Our government policies, local, provincial or federal? 

“You shouldn’t give circumstance the power to rouse your anger, for they don’t care at all.” Marcus Aurelius, Meditations

Note: If your situation or current circumstances elevate your commitment to improving your lifestyle for you and your family, isn’t that wonderful and better than denial of the truth?

Situations, circumstances, or so-called problems are not solved by sticking your head in the sand.

What are free home valuations worth, and why are they offered? Almost every Realtor includes “Free Home Valuations” in their messages; all you have to do is click. They will gladly prance and parade to your residence with the primary purpose of hoping that you will sell your home with them.

In my experience, 50% of those valuations are in the ballpark. The remainder tell people what they want to hear or are afraid to tell the truth because they do not want to upset a potential seller. They gather all the glamour B.S. and dump it on you to impress you. Or try to!

Wanting you to like them.

You don’t have to like a heart surgeon if you’re having heart problems. You don’t have to like a paramedic if you’re in an accident. I know I want professionalism and to be cared for 100%, nothing less.

Free has no value; there will always be a price to pay, now or later. I don’t know who said this, but I love it: “Pay the price once and only cry once”!

What is a Comparable Market Analysis? (CMA)

My interpretation of a CMA is the following:

A Comparative Market Analysis (CMA) helps determine a property’s correct selling price. Ultimately, the best price the market will bear is the correct selling price.

A market analysis is divided into three categories:

1. Comparable homes that are currently for sale

2. Comparable homes that were recently sold

3. Comparable homes that failed to sell

By reviewing similar homes currently for sale, you can assess the alternatives a serious buyer has. You can also be sure that we are not underpricing your home.

Looking at similar homes sold in the past few months, you can see a clear picture of how the market has valued homes comparable to yours. You can also see how long these have been on the market. Homes that sell for the correct price sell the quickest.

Banks and other lending institutions also analyze these sales to determine how much they can lend to qualified buyers.

Looking at similar homes that failed to sell or had price reductions, you can avoid pricing at a level that wouldn’t attract buyers.

I ask you, now what do you think free home valuations are worth?

More Home Seller Ideas or Contradictions

Who would you want representing and protecting your interests, a transactional or transformational Realtor in London Ontario?

What is transactional? Transactional means there is an expectation that if one gives, one will receive.  In the real world, in it for the money, not you.

What does transformative mean? Causing or able to cause a significant and lasting change in someone or something. Merriam-Webster. In the real world, it's in it for you and when you are successful, you get rewarded.

Transactional

It’s like going to a doctor’s office and saying you are not feeling well. The Doctor goes to a shelf and gives you four different pill bottles and says, “Take these. These will help.” Also, drink lots of water, stand on one leg, and whistle Dixie. If you are not feeling better, make an appointment in a month or so! The Doctor made little effort to know about you, your concerns, fears, and history or to listen.

There is no difference with a Realtor who will tell you anything and show you anything to get you to buy or sell.

Transformational

The Realtor, who takes the time to understand your wants, needs, fears, goals, and concerns, will not tell you what you want to hear, but will walk you through the process and ensure he or she protects you and your family.

Who will have your best interests at heart and be there for you during the process and after you move in? You may be surprised at the questions you may have after a transaction closes. Or the names of some tradespeople.

How will you know if a transactional or transformational Realtor? Or Lawyer? Home inspector or mortgage lender? Listen to your gut. Feel it in your bones. Give yourself some credit; you can tell the difference in a heartbeat!

Have you considered who would buy your home in London, Ontario, if you were to sell? How could you attract the right buyer who would love your place and pay your desired price?

One of the biggest downfalls I see when selling a house or a condo in London, be it through a real estate brokerage or a For Sale by Owner (FSBO) company, is that most marketers & Realtors think that if they do the following:

• Put a for-sale sign up?

• Put it on MLS, Kijiji, or Facebook?

• Take pretty pictures (or doctor them)?

• Make up some fancy brochures?

• Maybe run an ad in a glossy magazine that is one month too late, a newspaper ad ( called tombstone ads for a reason), or a giant ad with the Realtor’s picture larger than the home?

• Do an Open House? (Less than 1% of houses sold are through an open house!)

  Who is going to buy your home? Marketing to that group, in other words, focusing on the type of buyer your home will attract, is beneficial and works!

Don’t Worry About How, It is Who!

  For example, if you have a four-bedroom, two-car-garage house near good schools, you would market it to families, not to empty nesters or singles. Or, if you have a one-floor, two-bedroom condo in an upscale London neighbourhood, you would not market it to a family of four!

   Focus, narrow down, focus, focus, & clarify!

  Most homebuyers view between 10 and 16 homes in London, Ontario. They are aware of comparable homes in your area. If they have a top-notch Realtor helping them, they laser-focus on the house that fits their client’s budget and criteria. They do not get lost in the bling and shine of properties that do not meet their client’s profile.

You can have the fanciest billboard in the world, but if it is in the middle of the Sahara Desert, who will see it? If they did, how many miles and hours would it take to get to London, Ontario, to see it? (I googled it, 9519 KM)

  I hope this and other tips are helping you prepare your home for sale. Your thought processes should be more transparent. Though selling a home creates anxiety, if systems are in place and your what-ifs are covered, your home will sell!

All you have to do next is choose wisely who will help you make it all happen.

House Seller Tips Condo Seller Tips

The most essential thing homebuyers want from a Realtor is risk management! Yes, arranging for showings, referring mortgage providers, home inspectors, and lawyers is not risk management. That is providing a service and a responsibility of the profession.

Over the years, I have helped hundreds of buyers from all income groups, ethnicities, and cultures, from investors to first-time buyers. Ultimately, buyers want to feel confident that their decisions were correct and aligned with their comfort zone.

Some buyers’ perspectives: 

• “Am I paying the right price for this home?”

• “What if something major goes wrong with this place I’m buying?”

• “Are the interest rate quotes I got from my bank good or bad?”

• “Are interest rates going to go down?”

• “What will happen if I feel in one year that this place is not for my family and me?” “My kids hate the schools more than I do?”

• “What happens if I get transferred, or laid off, or my company shuts down?”

• “I want to buy a place. What about down payments, insurance, home inspections, lawyers, and movers?”

• “Is this a Realtor who is transactional or transformational? How can I tell?”

• Add your fear or concern here: ___________________________________________________________________________

Buying a home today can be an emotional experience, not a financial high-wire act.

How do I define risk management for home buyers?

• Listening and understanding a buyer’s needs and wants, ‘it would be nice,’ and if?

• Explaining the reality of what they want and need regarding their buying power with facts, not opinions.

• Investing the time to explain the buying process from start to finish and afterwards can be boring for an excited buyer; they want to see properties! However, without reviewing the buying process and the what-ifs, jumping into a purchase off the bat leads to emotional exhaustion and buyer’s remorse.

The two links below will help you find more ideas, tips, and prudent methods for buying a home in London, Ontario! This is what I think homebuyers want from a Realtor and nothing less!

Home Buyer’s Guide London, Ontario
Condo Buyers Guide London Ontario

Being flexible for buyers to see your home in London, Ontario is essential. Have you considered how and when buyers will see your home?

If possible, schedule showings in the same way most homes in your area are shown. This may be by special appointment or by a lockbox system.

Remember that this will be the buyer’s first contact with your home, and it should set a positive tone.

  Make the buyer and their Realtor feel welcome.  Be as flexible on timing as possible.  The buyer may be viewing many homes over a large area.  (The average buyer sees 4-9 homes before making a decision)

  While having people traipsing through your place can be inconvenient or disruptive, keep in mind that if a qualified buyer is willing to spend hundreds of thousands of dollars on your home, be flexible.

Why?

  Would you go elsewhere if you wanted to buy a car on a Thursday afternoon and one dealership was closed? Or are you in London with your family for the weekend only, and cannot see some homes because the seller is too busy or tired? ( True story: a $750,000 house, and the seller was too busy and had no time to keep the house tidy!) By the way, that house sold one month later for $709,900.

  I recall instances in which the seller was hostile and demanded an explanation for our 5-minute delay. Last weekend, my clients and I arrived at the house we had scheduled to see (11:30 AM to 12), arriving at 11:55 AM. The man in the house ranted and raved that we were disrupting his day and yadda, yadda! We left, never even getting past the screen door. By the way, the house had been on the market for 51 days! Hmmmmm! I wonder why?

  Many people are reluctant to intrude on or bother other people. Remember that the decision to buy a home can be emotional and stressful. You will most likely feel the same way when selling your home.

As a home seller, you do not have to go overboard, but be flexible; that next buyer could be the one!

Want More Valuable Home Seller Tips?