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Expert real estate agents share tips on maximizing your home’s value quickly and effectively.

Selling a home can be a daunting task, especially in a market where prices are declining. Homeowners are constantly looking for ways to increase their property’s value without investing excessive time and money. In this article, we will explore nine expert-recommended strategies to enhance your home’s value in less than a year. From improving curb appeal to incorporating smart home features, these tips will help you attract potential buyers and secure a higher selling price.

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Improve Curb Appeal: Making a Lasting First Impression

First impressions matter when it comes to selling a home. Joshua Martin, a licensed realtor and founder of Atticus Home Buyers, advises homeowners to focus on enhancing their home’s exterior. This can be achieved by adding fresh paint, updating landscaping, and repairing any visible damage. These simple changes can create a positive first impression and significantly increase your home’s value. Warner Quiroga, a licensed realtor and CEO of Prestige Home Buyers, suggests basic tasks like mowing the lawn, trimming bushes, and adding colorful plants to make a big difference.

Consider a Kitchen Upgrade: The Heart of the Home

The kitchen is often considered the heart of a home, making it a crucial area to focus on when aiming to increase value. Martin recommends small but meaningful kitchen renovations, such as updating countertops, installing new appliances, or adding a fresh coat of paint. These improvements can significantly boost your home’s value, as the kitchen is where families gather and entertainment takes place.

Invest in a Bathroom Makeover: A Modern and Inviting Space

After the kitchen, bathrooms are the next most important rooms to consider when increasing your home’s value. Martin suggests upgrading fixtures, replacing outdated tiles, and improving Helical Piers to give your bathroom a modern and inviting feel. Additionally, fixing any plumbing issues is essential. These small updates can go a long way in attracting potential buyers and adding value to your home.

Increase Energy Efficiency: A Triple Whammy

Improving your home’s energy efficiency not only lowers utility bills but also increases its value. Martin advises installing energy-efficient windows, upgrading insulation, and investing in energy-saving appliances. These environmentally friendly features appeal to buyers who prioritize sustainability and can significantly enhance your home’s overall value.

Create an Open Floor Plan: Spaciousness and Contemporary Appeal

An open floor plan remains a popular choice among buyers, as it creates a sense of spaciousness and contemporary appeal. Martin suggests removing non-load-bearing walls if possible to create an open and spacious layout. This simple modification can make your home feel more modern and appealing to potential buyers.

Smart Home Features: Embracing Technology

Incorporating smart home features can significantly increase your home’s value. Martin recommends adding programmable thermostats, smart lighting systems, or a security system. These technological advancements add convenience and appeal to potential buyers, who are willing to pay a premium for homes equipped with modern amenities.

Add Extra Space: Utilizing Unused Areas

If you want to increase your home’s square footage without major additions, consider renovating unused or underutilized spaces such as basements or attics. Quiroga suggests transforming these areas into livable spaces to add more square footage. This not only increases your home’s value but also makes it more attractive to potential buyers.

Improve Storage: Meeting Buyer Demands

Storage space is a major selling point for many homebuyers, especially in smaller homes or those with limited storage options. Quiroga advises adding shelves, cabinets, or closet organizers to maximize storage space in your home. By addressing this common need, you can increase your home’s value and appeal to a broader range of buyers.

Keep Up With Maintenance: Preserving Value Over Time

Regular maintenance and upkeep of your home are crucial for maintaining its value. Quiroga emphasizes the importance of fixing leaky faucets, repairing any damage, and keeping your home clean and well-maintained. Neglecting maintenance can lead to a decrease in your home’s value over time. By staying on top of these tasks, you can preserve and even enhance your home’s value.

Conclusion: Increasing the value of your home doesn’t always require extensive renovations or large investments. By focusing on key areas such as curb appeal, kitchens, bathrooms, energy efficiency, open floor plans, smart home features, extra space, storage, and regular maintenance, you can significantly boost your home’s value in less than a year. These expert-recommended strategies will not only attract potential buyers but also help you secure a higher selling price in a competitive market. Remember, each home and market is unique, so consulting with a professional can provide valuable guidance on the best upgrades for your specific property.

 

Primaris REIT Acquires Halifax Shopping Centre for $370 Million

Toronto-based real estate investment trust sees potential in Halifax’s booming population growth

In a significant move for the retail sector, Primaris REIT has acquired the Halifax Shopping Centre and the Annex in Halifax’s west end for a whopping $370 million. The Toronto-based real estate investment trust saw the city’s remarkable population growth over the past five years as a key factor in this strategic investment. With the Halifax area predicted to reach half a million residents this year, the shopping centre’s prime location and leading status in the market made it an attractive addition to Primaris’ portfolio of shopping centres across Canada.

Population Growth and Investment Potential:

Halifax has experienced a record population growth, with over 30,000 people added this year alone, according to Statistics Canada. This surge in population, combined with the city’s thriving lifestyle and promising future, has caught the attention of Primaris REIT. The company’s CEO, Alex Avery, emphasized that owning the Halifax Shopping Centre allows them to participate in the exciting opportunities that lie ahead for Halifax.

Primaris REIT’s Expansion:

With the acquisition of the Halifax Shopping Centre, Primaris REIT now owns a total of 37 shopping malls across the country. The company’s current portfolio includes shopping centres in British Columbia, Alberta, Manitoba, Ontario, Quebec, and New Brunswick. Primaris REIT initially started as a property portfolio for the Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest pensions, before becoming a publicly traded investment trust in 2022.

Plans for the Halifax Shopping Centre:

Primaris REIT’s plans for the Halifax Shopping Centre align with the vision previously set by Cushman & Wakefield Asset Services Inc., the previous owner. These plans involve attracting prominent retailers, such as Winners and Simons, to fill the vacancy left by Sears in 2018. By bringing in these popular brands, Primaris aims to enhance the shopping experience for Halifax residents and visitors.

Conclusion:

The acquisition of the Halifax Shopping Centre by Primaris REIT marks a significant investment in Halifax’s retail sector. With the city’s population growth on the rise and a strong market position, the shopping centre presents a promising opportunity for Primaris. As the company continues to expand its portfolio across Canada, the Halifax Shopping Centre will play a crucial role in the success of Primaris REIT’s retail ventures. With plans to attract new retailers and capitalize on the city’s thriving lifestyle, Primaris REIT’s acquisition is poised to contribute positively to Halifax’s retail landscape.