Is It Time to Size Up?

You’ve probably heard the phrase “bigger isn’t always better.” While that may be true for a lot of things, that isn’t always the case in real estate.

While there are lots of options for smart storage solutions and creating usable space, sometimes a house can be too small for your needs — whether you’ve recently had a new baby, invited an older parent to live with you, or started a work-from-home job that requires dedicated office space.

Making the move to a bigger home can be intimidating, but I’m here to help you understand the benefits of upgrading your space.

Why Bigger is Better

Let’s talk all about the benefits of owning a larger home, as well as the possible objections you may have to purchase one (and why they’re actually possible selling points).

Selling Point: Bigger Homes Include Bonus Spaces

Most starter homes include just the standard rooms almost every home has: bedrooms, bathrooms, kitchen, dining room, living room.

When you upsize your home, not only do the room sizes grow, but you often get additional spaces and features you didn’t have in your smaller home.

Some of those features include:

● Finished basements
● Office spaces
● Playrooms
● Walk-in closets
● Master bathrooms
● Screened-in porches
● Mudrooms
● Extra garage space

If you’re currently doubling a living room as a playroom, you should be ecstatic at the idea of having two separate defined spaces.

Selling Point: More space Means Kids Don’t Have to Share Rooms

Expanding families need more rooms — it’s a simple fact.

If a family of 5 is living in a 3-bedroom home, that means two of the siblings have to share a room. And while this might work fine for some families, it often means more sibling disputes and a lack of space for each of those children to keep clothes and personal items.

Depending on the size of their upgrade, some families may even get enough bedrooms to have a guest space.

Selling Point: Bigger Homes Have More Storage

One of the most irritating things about owning a small home is the lack of storage space. “Stuff” can accumulate pretty quickly over time, especially in homes with children.

Small homes often lack adequate cabinet and closet storage, which means you constantly have to clean out your home, or even rent a storage space to keep everything you don’t want to part with.

Objection: I Can’t Afford A Bigger Home

Sometimes, a bigger home just isn’t on the financial cards, no matter how badly you want one. But some people are surprised to find out they actually can afford a bigger home if they take certain factors into consideration.

1. Depending on how much you get for your current home, you may be able to afford the bigger home you thought was out of reach.

If you bought your starter home 10 years ago, chances are, you don’t know exactly how much it’s worth today. Talk to a licensed real estate agent, like me, for a Comparative Market Analysis of your home, and you may just discover that an out-of-reach home is actually fairly affordable.

A good real estate agent can also sell your home at a higher price point. High-quality marketing, staging, and minor upgrades can all have a huge impact on the selling price of a home.

2. Break down the price of the new home into mortgage payments

Presuming current rates of 4.5% on a 30-year mortgage, a monthly payment per $10,000 is about $50. So a $20,000 difference in the purchase price is going to drive a difference of about $100 a month in mortgage payments. Sometimes, when buyers see a big sticker price, they automatically think they can’t afford it. But if someone selling a $250,000 house wants to purchase a $300,000 home, their mortgage payment will only increase by about $250 per month. An increase of $250 a month is a lot less daunting than $50,000 upfront.

3. Larger homes come in a variety of price points.

You may not be able to afford a move-in ready mansion with a theater room and heated pool, but you may be able to afford a larger 4-bedroom house that needs just a little TLC.

Consider a larger home’s potential as you search. You can make upgrades over time and build equity in the home.

Objection: More Space Means More Work

Many people assume that owning a larger home means more time spent cleaning and maintaining it. But this isn’t necessarily true. Smaller homes have less room to store all of the items that people accumulate over the years. So where does that stuff inevitably end up?

It ends up in junk drawers, in piles on countertops, in random storage containers, or in closets that can no longer be opened without everything falling out.

Bigger homes might come with more space overall, but they also come with more space for smart storage, keeping the clutter hidden and out of the way.

How Can I Help?

You’ve probably heard the phrase “bigger isn’t always better.” While that may be true for a lot of things, that isn’t always the case in real estate.

While there are lots of options for smart storage solutions and creating usable space, sometimes a house can be too small for your needs — whether you’ve recently had a new baby, invited an older parent to live with you, or started a work-from-home job that requires dedicated office space.

Making the move to a bigger home can be intimidating, but I’m here to help you understand the benefits of upgrading your space.

Email: natalia@firststaybc.com
Contact: +1 778 317-6393
Natalia Garbuzova – Lease-Up Rental Agent

Look For Dream House? Buy? Rent? Sell?

 

Looking to Sell? Neutralize Your Home

In looking to sell a home quickly and as painlessly as possible, the home seller must go through a process of removing the owner’s (or tenants’) presence from the house. This process is known in the real estate industry as “neutralization.” 

A more appropriate moniker for neutralization is “depersonalizing.” Essentially, your goal is to remove the identity of the home so that potential homebuyers can picture their future in the home without the “thumbprints” from previous occupants. How does one go about neutralizing the home? Easier said than done. There are even limits to neutralizing a home. If you go too far, your home may appear cold and foreign to potential home buyers and they may have difficulty envisioning just what each room’s purpose is (or could be). Let’s look at the topics and nuances that can influence buyers to say “yes” to your house and close as soon as possible.

Remove Photographs, Awards, and Certificates

A home that you’re trying to sell, you must remove most of the traces that allude to the personality that you have “carved” into your home.

This includes family photographs, awards, and certificates. Photographs and framed documents of marriages, children, and other friends and family tend to give the impression of a “claimed” territory.

The buyer will see your life in the home, not theirs. It’s much harder for a person to picture themselves in a space having their own unique experiences for years to come when they are confronted with the same patio they envision you using with your family.

Nothing speaks more to personality (and eccentricity) than collections. They tend to overwhelm the senses and create clutter, diminishing the size of the room — both of which you definitely don’t want to put on display.

Your goal is to help depersonalize your home so that house hunters can psychologically move into it. Leave a few non-personal pictures on the wall so space doesn’t look so empty, but even generic paintings and photographs can serve the same function as that family reunion picture in Cancun.

Neutralize Your Book Collection

Books can be a way of subconsciously conveying to potential home buyers the specific type of person that would thrive in the home. However, when selling your home, you should choose these books carefully.

The rule of thumb is to choose “coffee table books.” Books that are generic yet appeal to the masses come to mind — think architecture, travel, history, and cuisine.

Do not have controversial or deeply personal (such as religious or ideological literature) on display. Some topics can be divisive. And related to the previous topic, keep your photo albums packed away.

Take Down Artwork and Collections 

One man’s trash is another man’s treasure. While you may have made it a focus of your home to showcase your personality through your possessions, including artwork and items you collect, your goal is to appeal to the widest array of people possible to purchase your home.

Just as you hide your books in case of offending a potential buyer, you should take down all artwork that could be considered remotely offensive. This includes artwork with political messages, nudity, sports teams, religious imagery, and so forth.

Other accents, like family heirlooms, should be taken down, as well. While you might very well be proud of that mounted moose head from your grandfather, potential homebuyers could be put off by hunting wild game.

Get Rid Of Religious Items 

While it’s certainly fine to be proud of your religious beliefs, affiliations, and convictions, not all home buyers will appreciate religious items on display. Some buyers might not be religious at all, while others may carry completely different convictions from yours, and might find such displays offensive. Buyers who see these types of displays may also make inferences about the types of neighbors you have.

Staging

Neutralizing your home is part of home staging. Part of staging is setting up your home to reflect each room’s purpose or potential. It might be obvious to you who has lived in the home for years, but a prospective buyer might not be able to envision the purpose of each room without some leading. 

It’s in your best interest to stage rooms to give potential buyers an idea of the room’s main purpose. If you’ve completely cleared out a room that once was your study, leave a simple display of a desk, table, and a lamp. This will communicate the “feature” of the room. Bare rooms simply are not inviting, as they seem unfinished. Also, the natural feel of empty rooms can create an “echo chamber” effect that might be unappealing to people, barring the musically oriented home buyer. 

Color

Color plays a crucial role in the neutralization process. The point is that the colors you choose for the interior of your home should appeal to as many potential home buyers as possible. Here are a few points to consider when coloring your home for sale: 

• Remove wallpaper It can be a rigorous process to remove wall coverings, and this could turn off home buyers if it’s not neutral. Further, wallpaper is often considered outdated. 

• Avoid bright colors. Brighter colors are “an acquired taste” and will remind home buyers of the work they might have to do to change the walls’ colors to match their preferences before finally settling into the home.

• Avoid dark colors. Darker colors create an optical illusion that makes space appear smaller. Lighter, neutral colors for staging your home are best, as they make rooms appear larger. Adding accents of color, like photographs or paintings, against a neutral background can make a room seem modern and appealing (think art galleries). They also are easier to change in the future, a situation that home buyers will appreciate when it’s time to move in.

• Use complementary colors with carpeting and accessories (e.g., blue and orange, purple and yellow, red and green), following the rule that 80% of the predominant color should be neutral, with 20% as the appeal-ing complementary color.

• Avoid using too many colors when neutralizing the home. Instead, focus on three to five colors to avoid jarring color combinations or a feeling of “separateness.” Bear in mind that lighting changes the color you’ve selected. You can use the same hue for incandescent lights and natural lighting, only to get different results. This can help save money and emphasize your home’s lighting variations. Ensure your colors flow from one to another. Earth tones and neutrals work best, as we’re accustomed to these colors from nature. For example, having a hot pink go to a beige is off-putting.