Happy Holidays! It’s nesting time of year. For real estate, tis the season to dream of moving.  As you settle into your too-small couch, you may be asking yourself, where do I want to be at this time next year? Is it time for a larger home? Or a home closer to family? Or in a quieter neighbourhood? Or a smaller home? Or… you get the point. This is the time most of us start to look around and evaluate our dwellings.

Beyond this seasonal trend, the Bank of Canada cut the overnight rate again, which means we’re headed into a busy spring market. We expect market conditions to tighten in favour of sellers. House prices will likely trend up, and buyers will face steep competition.

However, we expect the price gap between renovated and non-renovated houses to remain high. Most buyers are more comfortable with a larger mortgage than a costly renovation. This trend remains true for what we call “Aesthetic houses”-these are homes that have been updated to reflect current design trends and are visually appealing, and “non-aesthetic” -these are homes that have good bones, but were renovated twenty years ago in brown tones or have not been updated to reflect current design trends. If your house is renovated and Pinterest-worthy, you will get the maximum amount of money. If, however, your home falls into the ‘non-aesthetic’ category, then it will be comparable in price to the unrenovated places.

Therefore, as nesting season is upon us if you’re thinking of selling your home in the spring market (congratulations on your impeccable timing, by the way), here are small changes that will have a significant impact on your sale price

1. Paint all over: After a brief infatuation with antique colours, interior design trends return to cream colours with charcoal accents. Choose a creamy off-white and paint your whole house with this calming neutral, including the trim and ceilings.

2. Light fixtures: Google “Scandinavian lighting fixtures” and then buy the ones you like the best. These fixtures are known for their clean lines, simple designs, and use of natural materials, which can help create a modern and inviting atmosphere in your home. Do not buy Edison bulb fixtures or farmhouse design lighting. Fill your home with lamps. Two to three lamps per room is a good starting point. Lamps should be at eye level or lower and cast soft-yellow light. Buyers will enter your home and feel an immediate sense of coziness that they can’t quite identify. The bonus here is that you get to take the lamps with you.

3. Ditch the upper cabinets: Hear me out. If your kitchen is dated (i.e. dark wood or pine cabinets with a busy granite countertop), you don’t need to replace the whole kitchen for it to appeal to younger buyers. Remove the upper cabinets, hang pendant lighting, change the countertops to a softer tone that works with the darker lower cabinets, and make that countertop continue up the wall as your backsplash. Although you remove so much practical storage, buyers will see a modern kitchen and like it more, even with less storage.

4. Flooring: This one is large and costly but has a huge impact. Make sure that most of the floors in your house are the same. Houses that have 3+ different flooring types throughout never feel renovated. They feel hodge-podge. You will make your money back if you install wide-plank white oak engineered hardwood (or something similar) throughout your home.

An important caveat! Are you considering making upgrades now to sell in 5-10 years? Don’t do any of the above suggestions. When renovating a house you will live in for the next several years, you should do it to your taste. Right before you sell, you can adapt it to fit in with today’s decor trends.

Better yet, hire us, and we’ll send our interior designer to your house to give you a plan. We help advise you on paint colours and other minor renovations. Maximizing your marketing exposure to get top dollar while spending the least money is the goal.

Happy holidays! Happy nesting.