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Lifestyle Renos that Don’t Add to your Bottom Line

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Most homeowners will want to customize the look and ambiance of their home to suit their lifestyle, regardless of how new or modern the finishes. In Toronto, dropping half a million dollars on a home no longer mean getting the house of your dreams – but simply getting a house, that you can turn into that of your dreams. However, before the first demolition party happens, it is wise to consider a couple of very important facts.

1) Investing in the property’s infrastructure is very important even if it isn’t seen
2) Some renos will give you a much higher rate of return than others

The question that will determine the kind of renos to make is this: how long do you plan on living in your home? If the answer is more than ten-fifteen years, then any reno you make will be worth your investment because you will have time to enjoy it. Keep in mind that some renovations will dramatically enhance your personal lifestyle but won’t necessarily be what future homebuyers want in their dream home. If you don’t plan on living in your home for at least ten years, then choosing the right kind of renos to make is crucial to getting your money back when you sell.

You might be wondering what is meant by “lifestyle renos?” The term refers to any renos that are important to your family’s happiness but won’t necessarily appeal to the majority of homebuyers. For instance – landscaping your grounds, installing a swimming pool, adding a wine cellar and creating a main floor office are just some examples of these lifestyle enhancers.

Interestingly, while infrastructure renos don’t really bring a high return on your investment, the flip-side is that people expect that the infrastructure is in good shape and will haggle the price of a house down if they have to do extensive infrastructure changes including electrical, plumbing, windows, roof and doors.

Swimming Pools
While swimming pools can be a life-saver during heat-waves, the truth is many people don’t like them because they do require a certain amount of maintenance and on-going investment every year. Add to that the fact that they can only really be used for about three months of the year, can be a danger to young children and small pets and take up a lot of real estate in a yard, they are often a negative when it comes to selling a property.

Landscaping
Landscaping your property will definitely add to its curb appeal, but rarely will it add enormously to its value for the simple reason that although you might love a meandering flagstone walkway and a messy garden of wildflowers, a prospective buyer might prefer a modern concrete walk with very precisely planted gardens – or no garden at all! Tastes vary enormously and while a buyer might find it nice that the grounds are landscaped, it is generally not a make-or-break element in a house search.

Adding rooms
Adding a room will definitely your family the space it needs to spread out comfortably, but it might not suit the needs of everyone as it will impact maintenance costs as well as upkeep. So, the main floor office, the extra ensuite, the wine cellar or the second floor addition – will all give you a better lifestyle, but not a significant return on your investment.

Overbuilding
The other element to keep in mind when doing renos is to keep your ambitions within the limits of your neighbourhood. If you live in a lower-end neighbourhood, but fill your home with high-end finishes, you are not going to be able to get that investment back when you sell as the neighbourhood will not support that cost. So, it is important to keep your neighbourhood in mind when doing renos.

Naturally, all of this advice goes out the window if you plan on living in your home long term and if you want to enjoy your stay as much as possible without regard to a return on your investment.

Increase your home’s value with smart renos

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Increasing your home’s value might seem like a no-brainer – just update old fixtures and floors, add a coat of paint and maybe do a full-scale reno or two. However, getting the most out of your renovation dollars means renovating your property smartly. There are certain elements of a home that will automatically fetch more money on the market if they have been updated.

Things to Consider First
Aside from actual renovations, other factors will also play a significant role in how much you should spend, and on what. Location is a very big factor as more expensive neighbourhoods will expect higher-end renovations to be done than renos done on homes located in less expensive neighbourhoods.

The value of your home versus the value of similar homes in your neighbourhood is something else that you should take into consideration. You certainly don’t want to be spending more on renovations that your house is worth on the market. For instance, if you paid $350, 000 for your home and put in renos worth $50,000, then you should expect your home’s value to rise to at least $410,000 – if it doesn’t then you should scale back the scope of the renos you want to make in order to make a bigger impact.

Smart Money Options
The first things you should renovate in your home if they have seen better days are your roof, your windows and doors and the home’s infrastructure, which includes plumbing and electrical. While these basic elements are not very sexy and will not really get much notice from your friends, they will definitely impress homebuyers who want a solid structure that will provide them with peace of mind.

Next, the two most important places in a home that will sell homebuyers are the kitchen and the bathroom(s). Adding a family room and master suite are also popular options that bring value to a home. Adding a swimming pool or landscaping your yard, while nice, won’t increase your property’s value by very much.

Choice finishes
Renovating properly is another very big requisite to get the best return on your money as possible. While you may want to spend the next 20 years in your home, it still doesn’t mean that you should indulge in the retro pink kitchen cabinets. Eventually you will want to sell and those flashy cabinets will drag the value of your home down. Choosing classic finishes that will age gracefully is your best option. Elegant, neutral finishes are the way to go if you want something that will last a lifetime and will still be appealing when you are ready to sell.

Consulting with a savvy real estate agent before doing renos is very helpful and a smart agent will be able to highlight those areas that will give you the best return.

Toronto Fall Home Show

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Starting tomorrow the Toronto Fall Home Show will opens its doors to savvy homeowners who are looking for inspiration, wisdom and information from a host of exhibitors gathered to share their expertise and know-how. The popular exhibition is a chance to have questions answered, find the professionals of your choice for projects you have in mind and find ideas to vexing problems.

The show is hosted at the:
Better Living Centre, Exhibition Place
195 Princes Boulevard, Toronto, ON M6K 3C3

The show hours are:

Thursday, October 1
10am – 8pm
Friday, October 2
10am – 8pm
Saturday, October 3
10am – 8pm
Sunday, October 4
10am – 6pm

Boasting a number of interesting features, this year’s edition of the Toronto Fall Home Show includes City Smart Living, which is geared toward providing smart solutions to city living – from maximizing small spaces to creating zen areas in an urban environment. Also featured this year is a Design Intervention, Upcycling of Furniture and a seminar on Renovating with Confidence.

The show is a favorite among real estate professionals, design enthusiasts and those wanting direction with their home projects.

So, don’t wait to buy your tickets! For more information on the show and what is being offered, you can visit their website.

Fall Cleaning

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Home maintenance in Toronto or anywhere else is a never-ending cycle of vigilance, cleaning, maintenance and repair. Although it might seem like you are on a treadmill where chores are concerned, twice a year those items that you let slip for a few months come into sharp focus and it is important to do a deep clean before heading into the next season; these two important times of year are spring and fall. Everyone knows what spring cleaning is – well fall cleaning is very much the same. However, this time around you are preparing your house to be nearly sealed off for the coming winter – it is for this reason that it is very important to do a thorough cleaning as otherwise you will trap all the dust and grime of the summer in with you for the next several months.

If the thought of such a deep clean is daunting – fear not – here we’ve compiled a check-list of the chores that need to be done so that you can tackle one item at a time.

Inside

Wash all windows
Dust, wash, dry all walls
Dust, wash, dry all light fixtures
Dust, wash, dry all window treatments: for vertical blinds, after vacuuming dust, soak in water with dish soap; for cloth window treatments, check washing instructions.
Vacuum and clean upholstery
Deep clean carpeting
Vacuum refrigerator condenser coil
Declutter and clean garage and/or attic
Wash comforters and pillows

Outside

Clean out gutters
Rake and compost leaves
Prep garden for winter
Check weather stripping around doors and windows
Clean and store patio furniture
Drain and store hoses
Clean, drain and close pool (if necessary)
Clean and store barbeque

Once every item from your fall cleaning checklist has been checked off, you can face the coming cold with an easy mind knowing that you and your Toronto home are well prepared.

Prep Your Garden Beds for Winter

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Once the last flower has faded from your Toronto garden and a chill can be felt in the morning air, it is time to start thinking of closing up your beds and preparing them for the winter months. While it is true that you can simply leave everything as is and wait until spring to tackle the clean up – it is best to get it down in the fall so that your garden and your plants are able to rest properly and so are better prepared for spring when it arrives.

FLOWER BEDS
If you have flower beds, then what needs to be done will depend on whether you have perennials or annuals in your Ontario garden. Annuals need simply to be removed and discarded once they have finished blooming and start to die. Perennials are a different story altogether. Depending on the type of perennials in your garden you will want to treat them differently.

Ornamental grasses: Although tradition says that they need to be cut back in the fall, some of these grasses are so pretty and keep their shape and colour all winter long, that some gardeners won’t cut them back until early spring – and some just prefer to keep them all year round to enjoy their wheat-colored beauty.
Flowers with seed heads: Some flowers with seed heads can be left through the winter even if you cut back the foliage. The seed-heads feed wintering birds through the cold days and even provide a sort of shelter from the snow for the garden bed. So, the seed heads can be left intact until the spring time.
Other perennials: The rest of the perennial flowers can be cut back in late fall to prepare them for the winter.
Evergreens: Resist the urge to prune your evergreens until the spring. If they are large then consider covering them with a burlap wrap and securing them with a tie to help them keep their shape under heavy snow.

VEGETABLE GARDENS

Preparing your vegetable garden for winter is rather straight-forward. Simply pull up your old plants, fertilize your garden (after checking to make sure you have the right pH balance), work the soil by tilling and then protect it by covering with mulch or by planting a cover crop that you don’t intend to harvest. Cover crops are simply crops that will protect your topsoil from eroding or washing away. Furthermore, it can be tilled into the soil in the spring for added nutrition. If you have perennial crop plants, cut back old stalks and then cover them with mulch to protect them through the winter.

With just a little time and effort you and your garden can rest easy knowing that all will be ready for when springs rolls around again.

To Prune or Not in Fall

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Gardeners often get antsy with the fall season rolling around and nothing much remaining to do in the garden besides the yearly clean-up. Many gardeners will even attempt to prune their large trees and bushes in the warm September sunshine. However, this is definitely not counseled and it is highly advisable to wait.

1. Pruning will stimulate new growth. However, if the weather gets very cold at night then it will weaken new shoots that haven’t yet had time to harden.

2. Pruning wounds heal far slower in fall than during the spring, leaving your plants exposed to fungal infections and disease for longer periods of time.

The only time it is okay to prune in the fall is if you are:

1. Removing dead or diseased branches.

2. Deadheading flowering shrubs/plants to increase their flowering life. However, a caveat to deadheading flowering plants is if you need them to seed in order to propagate or if they look nice dried.

If you are bent on pruning your trees and shrubs, then it is best to wait until they have shed their leaves in the fall. When the tree is asleep, you will cause less damage to new growth and you will also be able to better see what needs a trim and what doesn’t.

If you are able to wait until winter or spring to trim your trees – even better!

Caring for your garden involves patience and effort, but as long as you are willing to put both in, then you will reap the rewards for years.