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Budgeting For Renos

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Budgeting for renos in your Toronto home can be a difficult thing to do. Most people are unaware of what materials and labor cost and therefore, aren’t sure exactly how much to set aside for their projects. Depending on the kind of materials you choose for your project and whether you plan on doing part or most of the work yourself will greatly influence your costs.
 
Here is a basic overview of materials for a kitchen, what they cost and how much you should budget for them.
 
Counters
Depending on the materials you choose for your counters, the size you need, the thickness you choose and the design involved will definitely change the price you pay. However, basic costs are as follows:
Natural stone (marble, granite): $100/square foot
Man-made stone (Quartz, Corian): $75-$100/square foot
Butcher block: $60-$80/square foot
Laminate: $25-$50/square foot
Stainless steel: $125/square foot
 
Flooring
Flooring prices really run the gamut from $.59/square foot to $30/square foot. Your price will depend entirely on the kind of material you choose for your floor. Just remember, that if you go cheap and pick out a laminate, what you might save upfront, will be taken from your bottom line if you ever decide to sell. Keep in mind that when it comes to kitchens and bathrooms, you should put in the best you can afford, while still keeping in mind your neighbourhood and what it will support in resale.
 
Cabinets
Again here, depending on what material you choose and the size of your kitchen, you can get decent looking presswood cabinets for a 10’x10’ kitchen for around $5000 or you can spend nearly $40,000 on a custom built wood kitchen. What you want, your neighbourhood and what you can afford will naturally play a role in what you choose.
 
Fixtures
Sometimes inexpensive cabinets can be made to look regal and rich with the right fixtures. Look to pay anywhere from $.99 to $20 per fixture depending on design and the material used.
 
In the end a simple kitchen renovation including labor will cost you anywhere between $10,000 and $30,000 depending on the materials you choose.

Flipping that first property

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Flipping homes in Toronto and across the rest of Canada is currently derigeur. With the increase in property prices and the spike in the number of reality television shows glamorizing house flipping, it is no wonder that people are tempted to try their hand at making what looks like “easy money.” The truth is a lot more complicated and much tougher than what it would seem to be on tv. However, if done properly, there is money to be made in property flipping.
 
Area
The first thing to keep in mind is that you need to know what you are doing – which means, research potential areas in which to flip a house. Find out what homes are going for in that area and then try to find that diamond in the rough that you can get for way under valuation – it won’t be easy, but it is possible. Just remember, that you can’t expect to buy a house in a low-income neighbourhood, renovate it to high-end standards and then expect to flip it for more than the area can handle. You have to always take into consideration what property values are worth in the area and the potential return you will make from a flip.
 
Money
So you’ve scouted neighbourhoods and found the perfect property to flip. Now you need the money. Not only do you need the funds to buy the home, but you need the money to maintain it while the work is being done and the funds to renovate it – and remember always overestimate what you will need to invest. Another crucial element is having back-up cash available if/when your own funds run-dry. Renovations will always cost more than anticipated and you have to be prepared to cover any unforeseen circumstances.
 
Expertise
Unless you have a contracting background, have always been very handy around a house or just have a burning interest in home renovations, it is good to have reliable and trusted contractors lined-up to help you execute those repairs that you can’t handle on your own. However, it is necessary to find contractors who won’t overcharge you and eat into whatever profit you might make during the resale of the residence.
 
Lifestyle
The last and most important thing to remember about flipping houses in Toronto, is that people will pay for lifestyle far quicker than they will for a finished basement or a guest bedroom. If you can sell a certain kind of lifestyle, people will be more willing to spend those extra few dollars – especially when they will be getting a perk that speaks directly to their image of the perfect life.

Social Media and Real Estate

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Social media is rewriting the way people interact, socialize and the way they buy things – this is as true for real estate as it is for anything else on the market. Social media and real estate have a very symbiotic relationship and the best realtors know how to leverage the power of their social circles to expand their presence, broaden their brand awareness and increase their sales potential.
 
Let’s take a look at what social media and real estate involves.
 
There are several social platforms on which realtors should be active if they want to really hit their target demographics.
 
Facebook
Naturally, Facebook remains at the top of the heap when it comes to social platforms. The majority of users are at that ideal 18-35 demographic and it is a great place for posting text, pictures and links to other sites. While there is still potential to reach your audience organically, the only way for a company to truly make an impact is to pay to promote their posts. In the past this used to be free, but in order to monetize the platform Facebook changed their business model and now any publicity you want must be paid for in order to get the visibility that will really boost numbers.
 
Twitter
Twitter is a conversation that never stops. In order to best leverage the power in Twitter, companies must invest in engaging with their audience – this means posting a minimum of once a day. However, posting once a day isn’t enough. It is best to also retweet other people’s tweets and to tweet interesting articles that fall into your company’s area of business.
 
Pinterest
Pinterest can be an interesting platform if your business is highly visual. For instance, if your business is landscaping, then posting pictures of the jobs you’ve completed would be ideal for Pinterest. Just remember, that along with your pictures, you should link back to your website.
 
Google+
If you want the power of Google behind your business, then this is where to engage with your audience. Bear in mind that the Google+ audience skews older and more male than on Facebook. The Google name also means that SEO will rank very high on this platform.
 
Instagram
Instagram is another highly visual medium similar to Pinterest. As long as you post often enough, you will be able to maintain a steady presence on the platform, but again, it is not for every business. If you are able to communicate your business visually then it might be a good idea for you.
 
Linkedin
Linkedin is an excellent source for professional networking. While it is a social media platform it isn’t as versatile or dynamic as the other platforms discussed above. The one thing going for it, is that you can create a story for yourself and your business and you can get endorsements from your clients right on your home page.

Becoming a Brand

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Brand building in the Toronto real estate market is one of the most important aspects of any successful realtor’s business. Although not new, the weight given to brand consciousness is a rather recent phenomenon based on the mega successes of globally identifiable brands such as Apple, Microsoft, Google and Amazon, to name just a very few. In your own way, it is important to establish yourself or your business as more than just an individual and a service – you have to pitch yourself as an all-encompassing brand that stands for exactly what your target audience needs/wants.
 
Becoming a brand needs an investment in time and effort.
 
1 – The first thing you have to do is to establish yourself or your business as an expert in its field. If you are a realtor, then pick a few neighbourhoods and become the go-to person for information on what to do, where to go and what to see in those areas. Know the schools, the services, the community leaders and get involved. Promote yourself and/or your company as being the source for information on that area.
2- The next thing you should do is to have a cohesive identity created – this basically means that you have to create an easily identifiable logo that people will automatically associate with you and your service/company. In order to create something truly representative of who you are or what you do, it is best to put down on paper what your brand voice is, what your values are and what your mission statement is – establishing these things will ensure that you always have a consistent communications strategy across all of your marketing mediums.
3 – Another key component to establishing your brand is to be active on social media and in other promotional areas where your name and service will be seen and heard. Remember that the goal of these activities is to establish yourself as an expert in your field and not necessarily to solicit business. You have to create a forum of trust where people feel comfortable consuming your information. When your community of followers sees that you are helping them, they will be more inclined to go to you for services when they are ready.
4- Target the people who are most likely to consume your product or service. There’s no point in joining groups or communities that are not likely to ever be interested in what you have to offer. Instead, concentrate your efforts on those whom you know will one day likely becoming a loyal client.
5- Networking is key to establishing your brand. Without visibility, there is no way that you will be able to reach the heights of success to which you aspire. Be sure to shake as many hands as possible, to attend events and to talk with people who can further your success.
 
Without a brand, it is hard to get traction in today’s hyper-competitive marketplace. To really make a splash you have to work at it – but once you’re established, then you will certainly reap the benefits of being a brand.

Should You Act as your Own Agent?

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Most people who are thinking of either buying or selling property have thought about being their own agent. While the thought seems sound and can make sense in some ways, the fact is real estate agents are an essential part of the home buying/selling process. You can certainly do the work by yourself, but you must then be prepared to take on a lot of work and to do your homework so that you know exactly whether you are getting a good deal or not.
 
Here is a breakdown of what you can expect to handle if you act as your own agent when selling your home:
 
Researching the property marketing in your area
Listing your home online with the MLS and other sales websites – bear in mind that while you can pay to have your home listed, you won’t have access to the full range of tools that realtors have on the MLS.
Taking proper pictures of your property
Fielding phone calls from interested buyers
Setting up appointments
Organizing open houses
Negotiating the best deal
Knowing what to include in the sales contract to protect yourself from liability
 
An experienced real estate agent will take care of all the items listed above as well as recommend trusted notaries, home inspectors, stagers, etc… to ensure the sale of your home goes as smoothly as possible.
 
Although acting as your own agent will save you money, you have to weigh the cost versus your personal investment in time and stress.
 
In the end an experienced real estate agent is an investment in your property, as they will ensure the highest price in the quickest turn-around, which is what every seller wants.

Getting Top Dollar For Your Toronto Home

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Selling your home in Toronto used to be very easy with bidding ways taking place constantly. The market is no longer as hot and so you need to do all in your power to make sure that your residence draws the biggest number of bids at the highest price. There are certain things you can do to ensure that your home sells for what you want.
 
Be online!
According to MoneySense magazine 90% of home buyers first look online for properties – even before contacting a real estate agent. Naturally, this means that you need to have a significant online presence to attract as much interest as possible. While the MLS is still one of the best places to list, you also have to think about other real estate sources including Kijiji, Craigslist and the classified sections of online publications.  
 
1) Have good photos!
The internet is very visual and buyers want to see a home that is well maintained and attractive. If your house doesn’t look like it was taken care of, buyers will usually discount it right away. The best way to showcase your home is through professional photography. Make sure that your photos tell a story – start with the front of the house, move inside and go through each room starting with the main level. Make sure that the rooms are brightly lit, clean and devoid of clutter and personal items such as family photos and knick knacks. When taking pictures outside, be sure to move your car out of the driveway, to rake any stray leaves, weed the garden, mow the lawn and tidy up patio furniture. In short, make sure your house looks good on film!
 
Sell at the right time!
The spring and early fall are the best times to list your home for a quick sell. People either want to get their home just before summer so that they can move it easily and have the summer to set up or they target the fall when everyone is back to the regular routine. Summer and winter are usually the slowest time of year.
 
Staging!
Staging is no longer a luxury when selling a home but a necessity. Many real estate agents recognize this fact and include the service in their fees. The right staging will present your home in a way that is attractive to potential buyers.
 
Here are a few other tips to make sure you get top dollar for your Toronto home:
Clean and declutter your closets
Paint faded and worn-out looking rooms
Get rid of odors – especially pet odors
Keep it clean
Change light fixtures and/or hardware to make it look modern
Groom the exterior
Add little touches like flowers, fresh bars of soap, clean towels, etc… to complete each space.
 
Happy selling!

Toronto Real Estate Spring Madness

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Spring is one of the hottest times of year for selling and buying property in Toronto – and anywhere else in Canada, for that matter. The real estate market wakes up as buyers and sellers come out of hibernation and are raring to go with their projects. It would seem that most people are anxious to find or sell a home before the summer months. Across the country the pattern is the same with a spike in certain cities like Montreal as July 1st is the date when all leases are renewed and renters who don’t want to sign for another year need to find a house before that date.
 
In Ontario spring leading up to early summer is a terrific time for finding a new place or for selling your old one. However, because there are so many properties listed at this time of year, it is imperative that you find a way to make your home stand out from the crowd. There are several factors that go into making your home the one everyone wants. Here are a few tips to keep in mind before you put yours up on the market.
 
1) The Right Realtor
Find the right realtor! A realtor specialized in your neighbourhood will know where to look for clients, how to market to people in your area and will have the contacts needed to find potential buyers.
 
2) Get it Ready
Make sure your home is ready to show – that means cleaning up thoroughly. Hire a cleaning service if you need to but get it done! Make any minor repairs, repaint if it’s looking tired and stage your home if necessary. Don’t forget about the outside – curb appeal is a huge factor in getting your home sold. A property that is attractive from the outside is more likely to stick in a buyer’s mind long after the visit is over.
 
3) Price it Competitively
Pricing your home at the right price point will go a long way towards attracting the right kind of buyers. Price it too high and you are likely to scare away potential buyers. A good realtor will help you to make this kind of decision – but don’t let yourself get bullied into pricing too low either. You need to find a range in which you feel comfortable.
 
As long as you follow the simple above guidelines, you can successfully take part in the annual rite of spring-time realty madness and come out a winner.

National Home Show

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The National Home Show is currently underway at the Enercare Centre Exhibition Place in Toronto. The yearly gathering of home-related vendors, suppliers, experts and professionals really is your one-stop-shop for anything realty related. The conference has grown tremendously over the years and is now widely recognized as the reference for home buyers, sellers and improvers in Toronto.
 
Every year the show brings together a who’s who of the home and garden world with ideas for home make-overs, renovations, design, style, trends and innovations. At this year’s show you can tour the hottest craze in real estate – a tiny house. You can also check out the latest in kids space design and find out what what’s new in smart home technology. Don’t forget that with spring around the corner, it’s certainly not too early to get some floral inspiration at the garden marketplace – the ideal spot for getting everything you need for your garden.
 
The National Home Show is the place to be if you have any plans to renovate, extend, redesign, buy or sell your property as it gathers every professional you could need under one roof. Not only does it have all the suppliers and vendors you could want in one place, it also offers conferences and talks from well-known industry professionals and home-and-garden television personalities.
 
The show has been open since March 11 and runs until this Sunday, March 20, so you still have time to visit. What’s more, if you register for tickets online, you can get $3 off your entrance.
 
Remember – this is the big one and it only happens once a year, so don’t miss out!

Personal Calendars

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Personal calendars are among the best tools a Toronto realtor can have in their bag of marketing materials. A calendar designed with your name and logo on each page is a daily (and monthly) reminder of your brand and what you have to offer.
 
The best personal calendars can incorporate a bit of everything your company does – from selling houses, representing buyers, giving back to charity or being involved in community organizations. The ways in which you can fill up a monthly calendar are endless and can be a true reflection of what you offer your clients. Some realtors use the space to promote products or offer discounts to local businesses for cross promotion.
 
Whether you choose to go with a large monthly calendar, a small desk-top version or a one pager – what you put around the calendar, the images and the branding can all contribute to your marketing strategy.
 
Formats
The large monthly calendar is the best vehicle for displaying large, luxury properties. You can put together a year-long list of gorgeous homes that you have sold to inspire all those to whom you hand out your calendar. It is also a great way of showcasing your charity work or other community involvement.
 
The small desk calendar is probably the most practical form of calendar to produce as it is something that most people require either in their home or office for quick, easy reference. While not as versatile as the large format, with the right placement of your brand and contact information, it can deliver all of the impact that you need.
 
The one-page calendar is another very convenient model to produce as many realtors or businesses use both sides completely. Since most of these one-pages are used to stick on refrigerators in the kitchen for quick reference, one side usually includes the calendar and the other side can either be a full page reference to your brand or it can contain handy kitchen measurements – which means that people would hang on to it for longer than just the one year.
 
Producing a calendar doesn’t have to just be for your business – it can also be for your friends and family and producing a family calendar is a great way to stay in touch and to offer a more personal and touching present to your loved ones.
 
Regardless of the format or reason that you choose to produce a calendar, Imaginahome Inc can help you get exactly what you want at the price that suits your wallet best. Give them a call today to see how they can assist.

Greeting Cards

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When done right greeting cards can brighten up a day, bring a smile to a face and keep your business at the forefront of a customer’s mind. Custom greeting cards are one of the best ways a Toronto realtor can keep in touch with their clients. However, getting the cards done right is important. Sending a generic greeting card can have the opposite effect on a customer as it sends a signal that your business isn’t established enough to have a solid brand look.
 
The power of brand
Growing your brand is very important and establishing your brand is one of the most important aspects of a successful business. Once you have a brand, it is important that all of your marketing efforts and materials reflect your brand promise, vision and mission. Therefore, custom greeting cards must take into consideration your brand identity and communicate this to your customers.
 
Versatility
Greeting cards are one of those very versatile marketing tools that can be used in for nearly any communication application. Whether you want to just say “hi” to remind your customers of your business, to send birthday or any other milestone wishes, to mark an anniversary or special event – sending a greeting card is one of the best ways to communicate your message. The added beauty of the greeting card design means that you can tailor your message and images to suit your needs.
 
Getting it right
The only way to get the kind of greeting cards for your business that will enhance your services and appeal to your personal clients, is to work with a marketing firm specialized in the custom greeting card creations. Imaginahome Inc. has been creating customer greeting cards for many years have have perfected the art of customizing marketing materials to reflect a business’ brand perfectly.
 
Creating a bank of customized greeting cards that you can draw on through the year for your marketing needs is a great way of ensuring you have the tools you need at your disposal throughout the year. Imaginahome Inc would be happy to help you create your custom designed greeting cards. Contact us today to see what we can offer you.