If you’re a landlord, your rental income will be treated either as property income or business income, and each brings different tax implications to the table. According to the CRA, to differentiate between these two, you should consider the numbers and services that you offer to your tenants.
Where are the towels? Which box holds the can opener? Who packed the cat food? When you're surrounded by boxes, what you need is a strategy.
Once all the moving preparations have been made, all the arduous moving tasks have been taken care of, and everything has gone more or less according to plan on moving day, you finally find yourself in your new home, surrounded by piles of boxes, tired and glad that your relocation is about to end.
Final Thoughts
One thing that makes these five low-cost home improvements unique is that all have the potential to immediately change the buyers perception of your home and raise its value. That aside, none of them will empty your pockets as complete renovations would. In fact, you can spread out the cost and do one update/upgrade at a time until the time you are ready to sell the house.
5. Renew Floor Finishes & Replace Old Carpets
Replace Carpeting And/Or Flooring Before Listing Your Home – Top 5 Low-Cost Home Improvements To Consider Before Listing Your Home
Bearing in mind that your home could be purely vacant, flooring is among the things that count as far as first impressions goes. Once a buyer steps inside the home, they will probably see the floor first.
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4. A Kitchen Facelift
It’s true that a kitchen is the heart of every home, which is why many potential home buyers prioritize it over other rooms. If you update every other room to be clean and appealing, then spruce up your kitchen with low-cost cosmetic upgrades, more potential buyers will be encouraged to buy your house and the selling price will be higher.
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3. Upgrade The Lighting
Does your living and dining room have those dull recessed lights? If yes, this is the time to unscrew them and fix a brilliant replacement in their place. Chandeliers would be a great option to consider.
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2. Paint And/Or Clean The Walls
Fresh Paint Is Great – What Low-Cost Home Improvements Should You Make Before Selling Your Home?
Thinking of buying a pre-sale condo?
Let’s admit it, when getting ready to put a home on sale, the fear that it might not sell fast or rake in the amount you expect will often creep up on you. Things get even more real when you begin to imagine what the home inspector report might look like and what buyers will think of it.
Mistake #1 Not knowing what they can afford before making an offer.
The best way to avoid this is to get pre-approved for a mortgage so you know exactly how much you can afford. Usually pre-approvals are free.
Mistake #2 Not knowing who the agent represents.
Unless an agent is working as your buyer representative, they represent the seller. Many people don't realize this.
Mistake #3 Choosing the wrong mortgage.
