The doom and gloom stories have started again about the Canadian real estate market. Here are some signs
Canadians debt to income ratio is at 160 per cent, which means $1.60 or debt for every $1 of income;
Canadian real estate is 20 per cent overvalued
In Toronto, too many condominium units are coming onto the real estate market. If there are no buyers or renters, prices will fall.
If interest rates rise 1 percentage point, many of those with a mortgage will be in trouble.
Canada is not creating jobs as quickly as the U.S. I see it another way. If you look at the market fundamentals, you can conclude the real estate market is extremely healthy.
I spoke to Brad Lamb, one of Canada’s leading real estate brokerages, who has developed projects in Toronto, Ottawa, Calgary and Edmonton. You would expect him to put a positive face on things, but here are his arguments why things aren’t what they seem.
1. No place to build low rise homes anymore in today’s Real Estate Market
In 2001, 30,000 new homes were built in the GTA, of which 22,000 were low rise homes and the rest were condominiums. Buyers were able to find new detached homes in the GTA in areas such as Mississauga, Oakville, Oshawa and Milton. However, as land became more expensive and more greenbelts established across Ontario, the result is not enough land available to build that many low rise homes. As such, for the last few years, we have seen the opposite; 22,000 new condominium units every year and 8,000 detached homes being built. But we still have the same number of buyers coming into the GTA, who need to find a home to work or raise a family.
2. There are few apartment buildings being built anymore.
Due to the rent control laws, it has made more sense for years for developers to build condominiums instead of rental apartments. Yet young people entering the workforce still need a place to live. That is why the vacancy rate for new condominiums in Toronto is still close to 1%. If the units are filled with tenants or owners, prices cannot crash.
3. Will interest rates go up at all?
For the past 4 years, banks have been saying that rates should begin to rise within 18 months. Same story today. Although it is true that governments cannot by themselves influence interest rate policy, the fact is that most of the countries in the world have so much debt that they would likely go broke if interest rates rose, so this is the number 1 reason why this will not happen. In addition, rising rates go along with an overheated economy. Canada is very far from being over-heated, with growth averaging about 2% the last few years and likely to remain the same.
4. The debt to income ratio is a misleading statistic.
When analysts comment on the 160% ratio between debt and equity, they do not distinguish between credit card debt, which Brad likes to refer to as “stupid debt” and mortgage interest debt, which is the interest you pay on your home or on investment properties.
With interest rates at historic lows, most Canadians are able to carry the cost of their own mortgage debt and the rental income from their investment properties in most cases pays for all of the property expenses. If these analysts would do the right thing and separate out the good debt of Canadians from the bad debt, we would be nowhere near any dangerous debt levels in Canada. Do the math. Canadian real estate remains one of the best investments out there.
There is a lot of confusion out there by buyers and real estate salespeople as to what insurance is required when buying a condominium. The mistake is thinking that the insurance policy for the building will always cover your situation. In most cases, the buyer will still have to pay for part of the damages, even if they have done nothing wrong.
Here’s why:
Condominium buildings do have an insurance policy that insures the building and the units. However, it will not cover any improvements to the unit made by the owners or the owners’ contents, should damage occur, whether by water leakage, fire or smoke damage. In addition, if someone you invite into your unit gets hurt, they can sue the owner personally for liability. As a result, most condominium buyers purchase a policy that provides coverage for their contents, any upgrades that they do to their unit and liability insurance to protect them if someone gets hurt visiting their unit.
What is confusing to most buyers is that just about every condominium insurance policy has deductibles, which become the owner’s responsibility should any damage occur, even if it is not the owner’s fault. The deductibles are usually $5,000 but I have seen many policies that have $10,000 deductibles. What this means is that let’s say you leave the bathtub overflowing and water damages the unit below you. You are responsible to pay the deductible, and the condominium will pay for any damage above the deductible. This will also be the case if you are responsible for the HVAC equipment in your unit and any malfunction causes damages to the building or to other units.
Let’s say the pipes in the wall burst, your unit was damaged and you did nothing wrong. Although the pipes may be the responsibility of the condominium corporation, you will still have to pay the deductible before the condominium pays anything extra to repair the damages. The only way to fight this is if you could prove that the condominium corporation was negligent in conducting repairs and should have known that the damage could occur. In my experience, you will pay more in legal fees to fight this than the deductible, so it is just preferable to have the proper insurance instead.
In every condominium status certificate, there is a summary given of the insurance policy for the building, including any deductibles. One way to protect yourself is to send this certificate to your own insurance company and tell them that you wish to buy extra coverage for the deductibles noted on the policy.
A better idea, in my opinion, is to use the same insurance company that your building is using for your own insurance package. This company likely understands the deductibles better than anyone and will make sure that your package covers any gap that may exist in the building insurance policy.
If you are buying a condominium as an investment, you still need to make sure that you have this type of insurance protection. Most tenants purchase insurance for their belongings and to cover liability. If you want the tenant to also pay for insurance for the deductibles, you need to say so in your lease agreement and make sure that the tenant provides proof that they have obtained all required insurance coverage before you give them the keys to the unit.
When you understand the insurance you need before you move into a condominium unit, you will be prepared should anything occur later.
The average selling price, which combines all housing sectors including condos, hit $635,932.
By: Susan Pigg Business Reporter, Published on Tue May 05 2015 in Toronto Star.
The spring house-buying spree hit record levels in April, with sales up a stunning 17 per cent year over year across the GTA and house prices up 10 per cent, according to figures released by the Toronto Real Estate Board Tuesday, see full report.
That sales surge resulted in the strongest April for sales ever recorded by Toronto realtors. Some 11,303 homes changed hands across the GTA.
The fact that demand remains so high in the face of limited supply – new listings were up five percent in April, but active (total) listings down more than 10 per cent over a year ago – means strong price gains are likely for the remainder of 2015, said TREB’s director of market analysis, Jason Mercer.
The average selling price, which combines all housing sectors including condos, hit $635,932, up 10 per cent in April as first-time and move-up buyers flooded open houses.
But the MLS composite benchmark price, which factors out sales at the extreme ends, was only up 8.4 per cent, signalling that the sales numbers were skewed by a higher number of high-end sales, the board noted.
Even condo buyers couldn’t get a break in April, despite the fact new units are coming on the market monthly.
The average sale price of a Toronto condo surpassed $400,000 for the first time in April, hitting an average of $407,612, up 5.8 per cent from April of 2014. House prices were growing even stronger in the 905 suburbs where condo prices averaged $318,471, a 7.4 per cent increase from a year ago and far outpacing inflation and income gains.
Condo sales weren’t that far behind those of low-rise houses across the GTA, with a 16.1 per cent spike in sales. The biggest surge (up 21.5 per cent) was in the 905 region, compared to almost 14 per cent sales growth in the 416 region, according to TREB’s monthly figures.
The fact that townhouses have become the new go-to housing for those priced out of the detached market, but not keen on high-rise condo living, was reflected in the April sales figures. Sales in that sector climbed above 20 per cent, with an almost 29 per cent increase in sales in the highly sought after 416 region.
The average sale price of a townhouse was up about 10 per cent, with average prices at $551,231 in Toronto (up 10.3 per cent year over year) and $448,236 (up 9.5 per cent) in the 905 regions.
Detached home sales saw a 17 per cent spike across the GTA, with sales gains stronger (18.2 per cent) in the 905 regions than the City of Toronto (up 13.8 per cent.) The average price of a detached remained above $1 million in the 416 region, up 9.2 per cent year over year in April to $1,056,114. The average detached price was up 13.1 per cent in the 905 regions to $729,961.
Sales of semi-detached homes climbed by almost 15 per cent across the GTA and house prices hit a new high of $727,875 (up 3.5 per cent) in the City of Toronto and $489,796 (up 10.5 per cent) in the 905 regions.
September 10, 2017akankshaComments Off on Home Ownership Demand Remains Strong according to TREB & BILDNews
TORONTO, November 25, 2014 — Greater Toronto, November 25, 2015 – Demand for home ownership remains strong in the GTA, and dynamics around housing supply are impacting prices and redefining the market, said the Building Industry and Land Development Association (BILD) and the Toronto Real Estate Board (TREB) at their first ever joint briefing on the state of the GTA housing market.
Through the first 10 months of 2015, there were 124,123 new and resale homes sold in the GTA. A record number of sales were reported through TREB’s MLS(R) system. New home sales reported by RealNet Canada Inc. (an Altus Group Company) were consistent with the 10-year average, but the mix and type of new homes being sold as well as their prices have changed. Total new home inventory levels have remained within the normal range at 26,388 homes, but more than 81 per cent of those homes are high-rise condominiums, according to RealNet Canada Inc. (an Altus Group Company).
Builder inventory of new low-rise homes, including detached, semi-detached and townhomes, was at 4,980 homes at the end of October, a near record low. As of October 31, there were 10,014 low-rise properties available for sale on TREB’s MLS(R) system. There were 16,079 new and 12,773 existing low-rise homes available for sale at the end of October 2005. While the supply of low-rise homes has trended lower over the last decade, demand has remained strong, pointing to more competition between buyers and very strong price growth.
The average price of a new low-rise home as of October 31, 2015 was $802,376 – more than double the average price in 2005, which was $387,369.
A similar trend has been noted for TREB MLS(R) transactions. The MLS(R) HPI Single-Family Benchmark Price increased to $669,400 in October 2015 from $363,100 in October 2005.
The new high-rise market saw an increase in supply in the last 10 years. There were 21,408 new high-rise homes available for sale across the GTA at the end of October 2015 compared to 13,006 a decade ago. The average price of a new high-rise unit was $440,382, up from $288,587 in 2005.
Price growth for TREB MLS(R) transactions was similar over the same time period with the MLS(R) HPI Apartment Benchmark Price in October at $331,400 compared to $207,800 in October 2005. It is important to note that while we have seen strong new condominium apartment completions and subsequent new listings on TREB’s MLS(R) system, these newly listed units have been largely absorbed. Far from seeing a glut in supply, the months of inventory trend has declined and growth in the MLS(R) HPI Apartment Benchmark Price has accelerated compared to last year.
The size of new condominiums brought to market has decreased over the last 10 years. The average new high-rise home in October 2015 was 767 square feet, compared to 908 square feet in 2005. “As an industry we continue to find innovative ways to provide a range of housing choices,” said BILD Chair Steve Deveaux, vice-president of Tribute Communities. “But it is becoming increasingly challenging to design, build and sell the homes that many people, especially first-time buyers, want to and can afford to purchase.
For new homes, single-detached homes saw the largest year-over-year price increase in October. The average price of a new detached home in the GTA was $962,312.
“To comfortably afford that home with a 20 per cent down payment, the buyer would need an annual income of $174,854,” Deveaux said. “With a smaller down payment, the required income would be even higher. According to Statistics Canada, the average total family income in the Toronto area in 2013 was $107,200.”
The development industry is building more condominiums than it did a decade ago, but as the GTA continues to grow by up to 100,000 people every year, demand for low-rise homes has not decreased. Deveaux said that demand for detached, semi-detached and townhomes is outpacing supply, which is limited due to a lack of serviced land designated for development.
TREB president Mark McLean said the industry is concerned about the disconnect between some current government policy initiatives and home ownership affordability. TREB cites the Ontario government’s plan to allow municipalities to charge their own municipal land transfer tax as the most recent example.
“Homebuyers in the GTA presently benefit from a diversity of new and existing home options that are affordable at different income levels,” McLean said. “Sadly, the provincial government seems bent on hampering home ownership affordability. Studies have shown that municipal land transfer taxes will have a negative impact across Ontario, not only from an affordability perspective, but also by undermining our economy and costing thousands of jobs.”
Government fees and taxes amount to an average of one-fifth the cost of a new home in the GTA, according to a BILD-commissioned study in 2013. Home ownership and the resale market is affected due to the increasing cost of new homes.
The organizations stated that it’s important for governments to educate residents about the effects public policy changes will have on the state of the housing market and home ownership in the GTA.
“This industry is extremely important to the economic growth and prosperity of our cities and it’s important for GTA residents to understand what drives and impacts it,” Deveaux said.
About BILD
With more than 1,450 members, BILD, formed through the merger of the Greater Toronto Home Builders’ Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area. BILD is proudly affiliated with the Ontario and Canadian Home Builders’ Associations. www.bildgta.ca
About TREB
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 42,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board. www.TREBHome.com
January 27, 2016 — Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 5,595 condominium apartment sales through TREB’s MLS® System during the fourth quarter of 2015. This result was up by 12.6 per cent compared to the same period in 2014 meaning the condo market is growing.
Over the same period of time, the number of new condominium apartment listings entered into TREB’s MLS® System was also up, but by a substantially lower annual rate compared to sales, at 3.3 per cent. The result was tighter market conditions compared to an year earlier and a more competitive condo market.
“The condominium apartment segment is integral to the overall housing market in the Greater Toronto Area. Over the past decade, the trend has been to increasingly build up due to provincial land use policies. As new projects have completed, a number of investor-held units have been listed for sale on TREB’s MLS® System. These units have been absorbed quite rapidly, with enough demand relative to supply to prompt continued price growth,” said Mr. McLean.
The average selling price for condominium apartments in the fourth quarter was up by 4.1 per cent year over year to $382,070. Throughout the fourth quarter, the MLS® Home Price Index (HPI) Apartment Benchmark Price was up by between four and six per cent on an annual basis.
“First-time buyers account for approximately half of all buyers in the GTA and even more so in the City of Toronto. Condominium apartments represent an important entry point into home ownership for a lot of households. This is a key reason why we experienced continued growth in sales for this home type over the past year,” said Jason Mercer, TREB’s Director of Market Analysis.
Condominiums are becoming an increasingly important part of the GTA’s housing market mix and condo sales are up as the development in the region grows more intense.
For those seeking affordable home ownership, a condo is likely the only viable option, given the skyrocketing prices of detached houses.
That is if they can find a condo to buy.
New condo sales in the first four months of 2016 significantly outpaced supply, with 6,229 sales but only 3,892 new units added, according to Altus Group. This has resulted in a decline in the already limited number of new-condo options. As of the end of April, there were only 17,698 new condos available for sale across all GTA condo projects.
That may sound like a lot of units, but bear in mind only 1,622 of them were actually built and unsold. The bulk of the condos, 9,801 to be precise, were in pre-construction status, meaning three to five years away from delivery. The remaining 6,275 units were unsold and under construction, representing just 12 per cent of the 51,392 units being built in the GTA and slated for delivery in the next three years.
Prices for ground-oriented homes have been increasing at double-digit year-over-year rates, up 11.4 per cent to a record $864,181 in the first four months of 2016, according to Altus Group. Meanwhile, GTA condo prices were up 2.8 per cent year-over-year, to $461,281. On the resale side, detached home prices increased 18.9 per cent, to $986,691, compared to a 5.9 per cent jump in condo prices, to $413,925, according to the Toronto Real Estate Board’s May figures.
And prices will only keep going up, as record land costs and the introduction of new development charges create unprecedented cost pressures for those developing the future supply of new condos, units that won’t be available to consumers for another two years.
For those who do manage to secure a condo, more potential complications loom. Purchasers of units in larger projects can find themselves in interim occupancy for a full year, resulting in the payment of interim occupancy fees (paying rent to stay in their own unit until the building’s registration) that could total more than $10,000 before they’re able to obtain ownership title and begin paying off their mortgages.
And, with projects being designed to minimize capital costs in order to stay competitive on selling prices, building systems will likely require maintenance, repair and replacement earlier than in the past. So condominium fees after the first year of operation are likely to rapidly escalate.
Condos can offer a carefree lifestyle. But that doesn’t mean home-hunters should be carefree when making their condo purchase decisions.
Effective January 1, 2017 a First Time Home Buyer in Ontario, Canada to get a rebate of up to $4000.00
The Province of Ontario in Canada has proposed to double the maximum refund better known as rebate for a first time home buyer from $2,000 to $4,000, effective January 1, 2017.
The eligibility of the first-time homebuyers will be restricted to Canadian citizens and permanent residents.
This would mean that a first time home buyer in Ontario in Canada will be exempted from the land transfer tax on the first $368,000 they spend towards the purchase of their new home. In other words for example if you are a first time home buyer in Mississauga, Brampton, Oakville, Milton, Toronto or anywhere within the province of Ontario in Canada and the house you are buying is priced at $400,000.00 – you will not pay any Land Transfer Tax on the first $368,000 and will pay tax only on the remaining $32,000 that will be only $475.00 . While if your closing date is prior to December 31, 2016 it will be $ 2,475.00 . This is just an example.
In order to bridge the gap, the land transfer rates on houses that cost more than $2 million will be increased. For every penny above $2M, the rate will increase from 2 per cent to 2.5 per cent. Still the tax on the part of the purchase price between $400,000 and $2 million will remain at 2 per cent.
If you have any further query on this or if you are thinking of buying your first home in Ontario, Canada in Mississauga, Brampton, Oakville, Milton, Toronto, please feel free to contact us by filling out this Dream Home search form.
We suggests it is important to take advantage of every trick in the book to get your home sold as fast as possible and for top dollar. In this case, one of these tricks is called Home Staging that is preparation done to sell your home.
Make your house look bigger, brighter, cleaner
It can make your house look bigger, brighter, cleaner and helps the buyer to visualize themselves living in the house. Staging does not usually make your house more livable for you and your family. For the most part, it’s quite a challenge to live in a staged house during the selling process. Living out of your comfort zone might be hard. Things that make your house your home will most likely be gone. But remind yourself: this is only temporary.
Having your house listed for sale in Ontario, Canada can make things challenging for you and your family. There will be times, your agent will give you short notice that a “hot Prospect” wants to see your home right away which will impact your and your family’s routine. So things that can shorten the time your house is on the market, like Home Staging, is quite worth it, even if it means a little temporary hardship.
Staging is not just cleaning, painting, and doing minor repairs. Your goal is to present your home in the best possible way to attract the prospective buyers. With Staging, the focus of the buyer is shifted from the furnishing to the home itself, the configuration, the size, the space and the unique features of the property. RE/MAX Team Paliwal says: Staging is an aid to get your house sold faster and for the best possible price.
Home Staging involves de-cluttering and de-personalizing your house
Reducing the furniture to bare minimums and creating Focal Points inside each room. You can make use of some accessories to highlight your home’s best features. Common accessories include:
Mirrors
Cut flowers in attractive vases
Fresh fruit
Up lights, table lamps and floor lights
Ottomans
Pillows and baskets
Scented soap bars
Fresh towels
Ironed crisp Linen
Before you sell your home and move to a new one, you might feel tempted to save the money for your new home rather than invest that more money into your existing property. Please do not make this mistake! If your house lacks that certain appeal and attention to details, real estate professionals will be less inclined to show the property, simply because they know what your competition is offering and they value their time and their buyer’s time-why waste it on a property that lacks the WOW Factor and which most buyers will pass on?
Remember ! You are Not Alone TEAM Paliwal is with you in every step! We will sell your home together!
Let’s Begin Outside
Check Your House’s Curb Appeal
How does your house look from the street? That is where prospective buyers will be when they first see your home; and, that is where they will form that all-important first impression. Stand at the curb in front of your house and note what you see.
Remove any clutter in your yard.
Repair cracked or uneven driveway or walkway surfaces.
If your lawn has bald spots, apply some top dressing and re-seed. Prune trees and shrubs of dead wood. Weed and mulch flower beds, if you have them. If it is the right time of year, consider buying some flower-filled planters to enhance the eye appeal of your property. Make sure your lawn is mowed regularly. Ensure that the composter area is tidy.
Are your windows and walls clean?
Does your front door need paint?
Ensure your eaves and downspouts are clear of debris and in good repair.
Are your backyard deck and walkways clean? If not, use a power washer and do any necessary painting, staining or sealing.
If you have a swimming pool, are the deck and pool clean (when in season)?
Do all outside lights work? Replace any burned out bulbs, and clean fixtures of dirt and cobwebs.
Is there a shed? Does it look presentable?
Do windows and exterior doors need recaulking? Even at 6-7 years of age, the caulking may be dried out and in need of replacement.
Do you have decorative wooden poles on the porch? Is the wood at the bottom in good condition and overall does it need a new coat of paint?
If you have a gate, is it well oiled?
When you have completed the curb appeal inspection, carefully check the rest of your home’s exterior.
Will your roof and chimney pass inspection?
If you are uneasy about climbing onto your roof, you can inspect most items from the ground using binoculars. Otherwise, be careful when working or moving about on your roof. Unless roof repair is a simple matter of applying new caulking, you will probably need the services of a professional.
Check the general condition of your roof. Sagging sections, curled shingles, pooled water on flat roofs and corrosion on metal roofing mean it is time for repair or replacement.
Both masonry and metal chimneys need to be straight and structurally sound, have proper capping on top and watertight flashing where they penetrate the roof.
All roofs undergo stress from snow and rain loads so it is possible a truss or rafter may become damaged, resulting in a noticeable small depression. Professionals should do this inexpensive repair
Examine Your Walls
The condition of your exterior walls directly affects the look and curb appeal of your home.
Replace old caulking.You may have to cut or scrape away old caulking to get a good seal. Do not seal drainage or ventilation gaps.
Is your exterior paint looking good? If you see faded colours and cracked or peeling surfaces, you need to repaint. Be sure to get competitive bids if you hire professional painters
You can clean vinyl siding but defects or damage to it and to metal siding usually means replacement.
Stucco can be repaired but some skill is required to blend patches with existing stucco.
Now, Let’s Go Indoors
A prospective buyer will usually enter through your front door; so, that is where you should begin your interior inspection.You want your buyer to see a neat, clean, well-lit interior. Get clutter out of sight; ensure that carpets are clean and floors are scrubbed and polished; and that walls and trim show fresh paint (preferably neutral or light colours).
Take a sniff. Are there any unpleasant odours in your home? If so, track them down and eliminate them. Ensure all your lights work and are free of cobwebs.You want your home to look spacious, bright and fresh.
If you have considerable family memorabilia about, consider thinning it out.Your objective is to help potential buyers feel as if they could live in your home. That mental leap becomes more difficult for them if your house resembles a shrine to you and your family.
Professional realtors and decorators say the most important areas of your home to upgrade and modernize are the kitchen and bathrooms. Buyers also want to see new or recently installed floor coverings throughout.
General Interior
Check stairs for loose boards, ripped carpeting, and missing or loose handrails and guards.
Most problems with interior walls are cosmetic and can be repaired with spackling compound and paint.
Ensure doors open and shut properly. Minor sticking is normal but excessive binding indicates possible structural problems.
Open and close all windows to ensure they work properly. Fogging between the panes of a sealed window indicates the seal is broken and the unit needs to be replaced.
Living Room, Halls, Family Room, Den, Bedrooms
Keep furniture to a minimum so these rooms do not appear smaller than they are. Ensure that traffic can flow in or through these rooms unimpeded. If they contain bookshelves or cabinets overflowing with books, magazines and knick-knacks, remove some of these items. Ensure bedroom closets look spacious, organized and uncluttered. Create space by getting rid of old clothes and junk. Remember to remove or lock away valuables such as jewellery, coins, currency, cameras and compact discs.
Kitchens and Bathrooms
People splash water around in the kitchen and bathrooms so check around sinks, tubs and toilets for rotting countertops and floors. Problems could be due to poor caulking or plumbing leaks. Fogged windows, molds and sweating toilet tanks indicate high humidity levels, which you can remedy with exhaust fans.
In the kitchen, clean all appliances, including your oven. Clean or replace your greasy stove hood filter. Clean your cabinets inside and out, as well as your countertops and backsplashes. Repair dripping faucets.
Remove anything stored on top of your fridge and remove artwork and magnets.
Remove any items stored on countertops.
Remove items stored under the sink.
In bathrooms, scrub sinks, tubs and toilets taking care to remove any rust stains. Remove mildew from showers and bathtubs. Fix dripping faucets or trickling toilets, and vacuum your fan grill.
Clean mirrors, light switch plates and cupboard handles.
Consider installing new 6-litre toilets if you currently have water-guzzlers.
If you have ceramic tile in either your kitchen or bathroom, ensure grouting is intact and clean.
Basement
The condition of the foundation and main structural members in the basement are critical to the fitness of any house. The purpose of your inspection is to make sure these are sound and durable. Look for cracks, water seepage, efflorescence (white powder-like substance), crumbling mortar or concrete and rotting wood. If any of these problems are present, you need to do further research to learn about causes and possible solutions.
In general, if your basement is damp or musty, consider a dehumidifier. Like all other areas of your home, your basement should be organized and clutter-free.
Change the filters in the furnace and have it cleaned–this is the number one item purchasers want done after a home inspection. If you have a pet with a litterbox, ensure the litterbox is clean.
Garage
Get rid of the broken tools, old car parts, discarded bicycles, empty paint cans and the hundreds of other useless items that accumulate in garages. Again, you want a clutter-free zone. Use cleaning solutions to remove oil stains from the floor.
