HOMEBuyer/Seller™ issue March 2024

February 29, 2024

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7 Tips for Making the Living Room Look Fantastic to Buyers

The living room or family room is often a focal point for buyers who come to see your listing. They’ll look around and imagine relaxing evenings, family get-togethers, and holidays celebrated in that room. So it’s important to ensure it looks its best.

Here are professional staging tips for doing just that:

  1. Neutralize the palette. Consider repainting walls in shades of beige, grey, or off-white. These hues will appeal to a broader range of buyers and allow them to visualize their own décor in the space. These colours will also make the room look bigger.
  2. Strategic Furniture Placement. Position furniture away from walls, if possible, to create a cozy, conversational setting. Keep pathways clear to ensure easy movement and make the space feel more open.
  3. Invest in Key Pieces. A few standout items can elevate the entire look. Perhaps it’s a chic coffee table, an elegant sofa, or a statement rug. And remember – you get to take these with you when you sell.
  4. Add Textural Elements. Incorporate soft throws, plush pillows, or a tactile rug. These elements create a cozy atmosphere that can make potential buyers feel right at home.
  5. Minimize Electronics. While many family rooms are centred around the TV, when staging, it’s advisable to downplay its dominance. Consider a tasteful cabinet or decorative screen to partially hide large electronics.
  6. Greenery and Fresh Flowers. Potted plants, succulents, or a vase of fresh flowers can add vibrancy and a sense of freshness.
  7. Accessorize Thoughtfully. Less is more when it comes to accessories. A few well-chosen pieces – like a decorative bowl, coffee table, books, or elegant candlesticks – can provide the finishing touches without overwhelming the space.

Want more tips on selling your home faster and for top dollar? Call today.

Should You Buy a Property that May Need Expensive Repairs or Upgrades?

Imagine you’re shopping for a new home and come across a listing that seems ideal. It’s in a great neighbourhood. It has all the characteristics on your “must-have” list. You can see yourself living there.

However, there are a couple of serious maintenance issues that are likely to need attention within the next year or two. For example, the roof shingles need replacing or the wiring needs to be updated.

Those fixes are going to be expensive. Does that mean you should take a pass on making an offer?

Not necessarily. While it’s nice to buy a home that is move-in ready (or close to it), it can be advantageous to purchase a property that needs some repairs and upgrades.

Depending on market conditions, a home with such issues may be priced lower than comparable properties. So the money you save can be put towards the work. In addition, other buyers are seeing the same issues and, as a result, may not make an offer. That means fewer buyers and less competition.

On the other hand, you need to weigh those advantages with the estimated cost of the required repairs and upgrades. Will you have room in your budget to get the work done when the time comes? How much will that work likely cost?

(Chances are, you can get a rough estimate of the cost of the repairs and upgrades required before you make an offer.)

The bottom line is, you need to get all the information you can and then make a strategic decision. Often, it is worth purchasing the property.