Oct. 14, 2021

Seller FAQs

 

If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is we’ve done extensive research about what you need to know about selling your home – and we’ve answered the questions you’re probably wondering:  

How will you determine my home’s value?   To determine your home’s value and set a listing price, we will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)  

Is it a good idea to start high?   Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. Our goal is always to get you the highest possible price in the shortest amount of time.  

What percentage of the listing price can I expect to get?   The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. Our goal is to get you as close to a 100% list-to-sell ratio as the market will bear.  

How soon can I get my home on MLS?   Once we agree to work together, we will begin entering your home information on the MLS system. We will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures are uploaded items, your listing can go live on MLS.  

What do I need to do to get ready to list?   For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. We can talk further about specific things that will help your home show better.  

How will showings be conducted?   We will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, we will notify you in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, we receive a notification.  

How will you market my property?   Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, we share my listings with the agents in our network, on the FM Homes website, and on social media. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.  

How long will it take to find a buyer?   Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.  

Will you qualify the buyer?   When an offer is received, we work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must put down the agreed upon escrow deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process. We stay in close contact with the buyer’s agent to make sure due process is followed.  

What are the costs involved?   The seller usually pays for the real estate agent fees, which are divided between the buyer’s agent and the seller’s agent. The seller also pays their share of the property taxes and HOA dues. If the full annual amount has been paid, the buyer will repay their portion back to the seller at closing. Often the seller elects to pay a portion of the buyer’s closing costs to help make the transaction work for the buyer.  

Will you also represent the buyer?   If we happen to find the buyer for your home, be assured that we am trained and experienced in handling both sides of the transaction fairly. As professionals, we respect the confidentiality and loyalty required in dealing with both parties. On the plus side, communication is easy when we are representing both sides. Working on both sides of the transaction is hard work, but it would not be a problem.  

How often will we communicate?   Communication is key to an easy and successful sale. We will keep you appraised of events every step of the way. You are welcome to reach out to us with questions or concerns. When we go over the listing information, we will discuss our preferred means of communication and schedules to make sure we know each other’s availability and boundaries.

Thinking of selling? We are here to help! Shoot us a message or give us a call today.

Posted in Real Estate Tips
Oct. 1, 2021

Fall Market Update: Is it a good idea to sell in fall?

 

The early spring through the summer are generally the busiest times of the year for home sales, but the fall can be a particularly advantageous time of year for sellers. Housing inventory drops off during the fall months, so sellers have less competition. That means you can expect higher offers, fewer contingencies, and less scrutiny from buyers. You maintain more power over your terms.

 

Fall buyers are serious buyers! Early in the year you can get lots of lookers who are just thinking about buying at some point, but by fall the buyers still looking are ready to get under contract and often have a deadline. Many fall buyers are anxious to get settled before the holiday season and, if they have children in school, they will want to get them in their new schools before too much of the school year passes.

 

Employers who pay to relocate employees also like to shop off-season to save on moving costs. If you live near a large hospital, university, technology center, or industrial area, your home may be attractive to relocation services.

 

Fall is also prime time for buyers who aren’t shopping school districts. Young professionals and empty nesters are two populations more likely to shop in the fall. If you are marketing to these populations, you might want to show off multi-use spaces for exercise rooms, a home office, or game room.

 

The fall is much more fun for showing a home than the dead of summer. Use the mild weather and a festive atmosphere to enhance your home’s showing potential. As the temperatures cool and we welcome crisp, clear fall days, it becomes easier to maintain your yard and add to your curb appeal. You can use fall colors and foliage in your home décor to create a cozy atmosphere. Don’t forget some pumpkin spice scented candles or warm oatmeal cookies to warm buyers up for a sweet deal.

 

If you’re thinking about selling but can’t decide between listing now and waiting until after the holidays, now is the time. Give us a call, and let’s tie the whole process up in a pretty red bow long before the new year.⁣

Posted in Market Updates
Sept. 13, 2021

12 Tips for an Easier Move

 

As exciting as it is to move into a new home, not many people look forward to the actual moving day. Whether you are moving across town or across the country, moving is stressful. Here are some helpful hints from expert movers to make the big day a little more bearable.

 

1. Schedule your move well ahead of time. Moving companies get booked up weeks in advance, so don’t wait until the last minute to schedule your move. Make sure they know ahead of time if you have any very large or heavy items to move. The last thing you want is for the movers to show up with a truck that isn’t big enough or without enough people to move your belongings safely.

 

2. Consider letting the moving company pack your items. If it’s within your budget to hire packers, it may be money well spent. Packers are usually very efficient and take time to wrap fragile items securely. Packers will usually pack you the day before your move, so you don’t have to pack items away that you may need up until the day of your move.

 

3. Schedule services. Don’t forget to have services transferred or started at your new home. These may include:

  • Power
  • Water
  • Internet/TV/Phone
  • Gas
  • Lawn service
  • Security system monitoring

 

4. Have your new home professionally cleaned. If your seller is not arranging for cleaning to be done prior to closing, arrange to have it done before you move in so that you won’t arrive to a dirty house.

 

5. Pack a moving supply box. Your moving supply box should contain items you may need while you are unpacking and getting settled in your new home, such as:

 

  • Toilet paper
  • Paper towels
  • Sponge
  • All-purpose cleaner and glass cleaner
  • Shelf liner paper
  • Scissors
  • Furniture moving pads
  • Tape measure
  • Cordless screwdriver
  • Hammer
  • Picture hanging kit
  • Bottled water, snacks, pet food
  • Paper plates, cups, and disposable utensils
  • Dish Soap and Hand Soap

   

6. Make Your Bed. As soon as your bed frames and mattresses come off the truck, put them together or have the movers put them together, and make them up. Pack your sheets, blankets, and pillows together in well-marked boxes so you can find them easily. When you are ready to collapse at the end of moving day, you’ll be thankful the beds are made up and ready to fall into.

 

7. Ditto for your towels and bath soap. Pack bath towels and soap with your bed sheets so you can jump in the shower before retiring without having to search for towels.

 

8. Make Plans for Your pets. The last thing you need on moving day is a stressed-out pup or kitty, or worse, one that escapes in an unfamiliar neighborhood. Make plans for your pets to spend the day with family or friends, a pet sitter, or boarding facility until you are ready to introduce them to their new home.

 

9. Say Yes to Helpers. Sometimes it’s hard to accept extra help from family or friends if you aren’t sure what they can help with. Here are some tasks you can delegate:

 

  • Lay shelf liner in the kitchen and bathroom cabinets and drawers
  • Unpack and put away your kitchen items (you can rearrange later!)
  • Babysit or keep your children occupied
  • Make up your beds, place towels in the bathrooms
  • Wipe down cabinets and counters
  • Break down packing boxes
  • Hang clothes in closets
  • Organize tools and equipment in the garage
  • Pick up lunch or dinner

 

10. Hire a Sitter. If you have little ones, they will be very excited about their new home, new rooms, and yard. They will want to be with you, but they will not be interested in unpacking boxes! Make plans for someone to be available just for them, so you can concentrate. A family member, friend or hired sitter can help them explore their new surroundings, build a box fort, or organize their toys in their new rooms without you worrying about where they are.

 

11. Hire someone to hang your art. Unless you love to hang things yourself, you might consider having a handyman scheduled to come in and hand your wall art and window treatments for you. This can save you a great deal of time getting settled. If you need help deciding where to hang art or portraits, a decorator may be a better choice than a handyman. They can help you decide on placement and hang items themselves or direct a handyman where to hang items.

 

12. Check out of the old house. Prior to closing, you should have submitted a change of address form with the post office. You’ll also need to remember to leave all keys and garage door or gate openers, and make sure the movers don’t pack up things like ceiling fan remote controls or other loose items that stay with the house. Don’t forget to clean out spaces like the attic, backyard sheds, crawl spaces, or any other hideaway spaces you might have stored items. It’s always nice to have the home professionally cleaned for the new owners, and, if you feel inclined, leave a list of recommended local vendors for household services.

Posted in Real Estate Tips
Aug. 31, 2021

Upsize or Downsize: Which is Your Best Move?

 

Deciding if it is time for your family to upsize or downsize is not always a clear choice. There are factors to consider that might push you to take the leap or stay put for a while longer. Whether you are thinking about upsizing so your family can spread out or purging possessions so you can downsize, here are some questions to ponder.

 

1. How are you using your current space?

Do your family members feel like they don’t have adequate privacy or space to do their own thing?  Are you tired of working at the dining table and really need an office or workshop? Is having the kids share bedrooms just not working out? Maybe an upsize is warranted. On the other hand, do you have rooms that aren’t being used, or are you tired of paying property taxes on more house than you need? Check for the downsize column!

 

2. Have you considered the maintenance costs?

If upsizing is on your mind, consider the added costs for maintaining a larger home and property, whether in money or time. Will you be able to keep up with cleaning, lawn care, and general maintenance issues that come with owning a home? If you are ready to cross maintenance off your to-do list, perhaps you are ready to downsize to a more manageable property or one where the HOA handles part of the job.

 

3. What are your outdoor space needs?

Are you ready to give up having a yard or garden to downsize to a maintenance-free space? Do you have pets that need outdoor space? Do you need more outdoor space for your children to play or your dog to run around in? The size of the house is one thing, but the property is important also.

 

4. Have you looked to the future?

What do you expect your needs to be in the next five, ten, or twenty years? Do you want a large home where your children and grandchildren will come for vacations and holidays, or will you be spending those times at their homes? Will you want to entertain groups of friends, or do you foresee going out for your entertainment? What will happen if your spouse passes; will you want to stay in the home on your own?

 

5. Do the financial implications add up in your favor?

Can you handle the higher costs involved with a larger home, or are you ready to cut costs with a downsize? Consider where you stand on your current mortgage. Are you alright with starting a new mortgage at this point in your life, or are you in a position to purchase in cash? What are the tax implications for your move?  

 

6. Is it the right market to upsize or downsize?

A seller’s market is hot for those looking to sell a larger home and downsize. Upsizing may be riskier in a big seller’s market, but if your family would be happier in a larger home, it might be worth the leap.

 

Whatever questions you have about purchasing your next home, we'd be honored to assist you. So let’s work together to make sure your next move is the right one.

Posted in Real Estate Tips
Aug. 11, 2021

When Should you Refinance?

When Should I Refinance?

 

Low-interest rates have many homeowners wondering if it’s a good time to refinance. Refinancing can save you a lot of money in the long term when done correctly. It’s important to consider the drawbacks as well. Here are some reasons why you might want to refinance, and a few things to be cautious of.

 

Reasons you may want to refinance:

1. To lower your monthly payment. If today’s interest rates are lower than when you purchased your home, refinancing to a lower rate will reduce your monthly payment down, freeing up cash to help with other bills, your children’s education, or to save towards retirement.

 

2. To pay off your mortgage earlier. A great way to use the money you save with a lower mortgage payment is to apply it right to your principle, which will help you pay your loan off earlier.

 

3. To take advantage of a better credit score. If your credit score has increased significantly since you bought your home, you may get a better loan if you refinance.

 

4. To save on total interest. For some, the desire to pay less interest overall makes refinancing an attractive option. Reducing the interest rate and/or the loan term will save you money long term.

 

5. To change loan types. If you have an adjustable-rate mortgage that has been increasing or is nearing the end of the fixed period, you may want to switch to a fixed-rate mortgage.

If you have extra cash on hand to make larger monthly payments, it may make sense to change to a 15-year mortgage so you can pay it off earlier.

 

6. To consolidate debt or take cash out. If you have built up equity in your home, you may be able to borrow against your home to obtain cash to pay off higher-interest debt, to make improvements on your home, or for things like your children’s education or medical expenses.

 

Be careful when borrowing against your home. If the cash you take out goes to increasing your debt rather than resolving it, then you could end up putting your home in jeopardy.

 

Don’t forget about the closing costs involved in refinancing. You will have fees associated with your new loan just like you did when you purchased your home, so remember to figure the closing costs when you do the math.

 

Also, be cautious about extending your loan term. If you refinance with a 30-year mortgage when you are 10-15 years or more into your current mortgage, you’ll end up paying way more in interest overall, and have extended your payments for many more years.

 

Of course, a mortgage lender is the best resource for answering your financing questions. If you need someone to talk to further, we are happy to give you a referral.

Posted in Real Estate Tips
July 27, 2021

Considering Short Term Rentals?

Short-term rentals can be a highly lucrative investment and a fun way to make money. Some of the advantages to managing a short-term rental property include:

 

  1. Your tenants are generally excited to be at your vacation property and may not require as much attention as a long-term tenant.
  2. You can collect one-time, up-front payments instead of keeping track of monthly or weekly payments.
  3. Depending on the location and amenities of your property, you may make several thousand dollars per month per property.
  4. Platforms such as Airbnb, VRBO, and Booking.com make it easy to set up a website to market your property.

 

A short-term rental investment can be accomplished by purchasing a property to keep rented out or putting your own home up for rent when you travel. Whichever course you take, here are some things to think about before you hang up that “vacancy” sign.

 

  1. Managing short term rentals is not exactly passive income. There is quite a lot of work involved in marketing the property, keeping it maintained, and turning it around between tenants. Consider whether you have the time to keep up with it yourself or if you will need to hire a property manager, and how much that will cut into your profits.
  2. Think beyond vacation rentals. Short term rentals don’t have to be on the beach or a ski slope. Other reasons why someone may need a rental in your neighborhood include work, job interviews, waiting to close on a home, renovating a home, visiting family, traveling with pets, or entertainment events occurring in the area.
  3. Do your due diligence when buying an investment property. You’ll want to assess the existing short-term rental market and find out what the going rates are and which areas are renting well. You should find out if there are HOA or condominium regulations that prohibit short-term rentals. Also inquire as to province, county, or city regulations and taxes.
  4. Create a business plan. Many property owners wing it with their short-term rentals, but you will have more peace of mind and less surprises if you treat your rental as a business. Make a list of expenses, including insurance, mortgage payments, taxes, cleaning and handyman services, utilities, internet and TV, lawn or pool care, furnishings, consumables you will provide, and marketing costs.
  5. Work with an agent who knows the area. Buying the right property at the right price takes some experience. Remember that the purchase of the property is the bigger investment than the rentals to follow. Let’s talk about how we can help you get started making money with short-term rentals!
July 12, 2021

6 Reasons Real Estate is the Best Investment

Real estate has long been considered a solid investment for many reasons. It is a relatively safe and easy way for people to build wealth beginning with a small amount of money. If you are interested in investing in real estate, we’d be happy to help you find the right properties.

 

Here are some of the ways investing in property can help you build an investment portfolio.

 

1. Real estate investments can provide you with a reliable and steady cash flow. Investing in rental properties is relatively easy as expenses are predictable and if your properties remain occupied you know what to expect in terms of profit margin.

 

2. Real estate appreciates in value. Real estate consistently appreciates, even during economic downturns, making it one of the more reliable investments. On average, real estate in Canada appreciates between 3-5% annually.

 

3. Real estate investments help you retire. If you have been paying on your mortgage throughout your working years, you will experience greater cash flow as you near the end of your mortgage term and the principal is paid off.

 

4. Real estate sales are taxed at a lower rate than other income. When you sell your property, you are taxed short- or long-term capital gains which are usually lower than income tax brackets.

 

5. Real estate equity can be leveraged. One of the most attractive reasons for investing in real estate is the ability to leverage your money. When you take out a mortgage to purchase property you reduce the amount of capital required. As you build up equity in the property, you borrow against the equity or refinance the original loan, freeing up cash to buy another property.

 

6. You have control to improve upon your asset. Unlike an investment in stock, where you have no control over how it performs, you can improve upon your real estate investment. Updating or upgrading systems, finishes, appliances, and landscaping helps build value in your investment.

 

Posted in Real Estate Tips
July 2, 2021

4 Tips for Buying Your First Home

We love working with first-time home buyers. Helping you find your first home, learn the home buying process, and guiding you from house-hunting to move-in day gives us the warm fuzzies. Here are four things you should know before you start looking.

 

1. Work with one real estate agent. It’s best to have one agent who is helping you with your search. Your agent will be dedicated to finding you the right property, and then negotiating on all the terms of your transaction on your behalf. You want that person to get to know you and your family’s needs and preferences, rather than starting over with someone new each time you go look at a house. Keep in mind that the agent who shows you a home is, ethically, the one who should continue the transaction. Also, when you call an agent from a yard sign or advertisement, you are dealing with the seller’s agent. While most real estate professionals are adept at handling both sides of a transaction professionally, it makes more sense to deal with someone you have already taken time to get to know and who has your best interests at heart as the buyer. You aren’t paying your agent; unless otherwise stated, he or she is paid by the seller upon closing. Still, you are hiring someone to work for you, so feel free to interview multiple agents and pick the one that you feel fits you best.

 

2. You need to be pre-approved for financing. Unless you are paying cash for your home, you do need to talk to a lender before you start looking at houses. One reason is that it helps you set an accurate price range for house hunting. Looking at homes that you can’t afford to make an offer on just leads to frustration. A mortgage lender will not only tell you what amount you can borrow, but also your projected monthly payment, your closing costs, and what you should or shouldn’t do with your finances to maintain your eligibility throughout the lending process. Another reason for having an up-to-date pre-approval in hand is so you don’t lose out to another buyer. If you find the perfect house, you will want to get an offer in before someone else gets it, and that pre-approval letter must accompany your offer. We would be happy to provide you with names of mortgage lenders in our area who have provided excellent service to our clients.

 

3. There are some up-front costs. When you find the right house, and you and the seller have agreed on the price and terms and have signed the contract, you will first need to make your escrow, or “good faith” deposit. This is money you are risking if you back out of the deal for reasons not protected in the contract. Usually it is between 1% and 5% of the sales price but can be more or less depending on what you and the seller agree to in the contract. Your agent will help you with this during negotiations. The escrow deposit counts towards the sales price.

 

4. Next, you should have an inspection of the property done by a certified home inspector. This cost varies depending on the size, condition, age, and features of the home, but is usually a few hundred dollars. You will need to pay this at the time of service. You may elect to pay for other inspections based on the results of the initial inspection. For example, if the inspector notes an issue with the HVAC system, you may need to pay a service fee for an HVAC contractor to look at the system. You want to get as much information during your inspection period as you need to confidently move forward with the purchase.

 

We can guide you through all of these steps throughout your home buying journey. Ready to get started? Give us a call!

Posted in Real Estate Tips
June 14, 2021

Understanding Home Equity

 

Home equity…Everybody wants it, but what exactly is it, and how do you get it?

 

Equity represents the degree of ownership an individual or entity has in an asset after subtracting any debts against the asset. To say someone shares equity in a company means they would share in any assets remaining after all debts are accounted for.

 

For example, if your business has sold $500,000 worth of product this year, but you have rent, operating expenses, and a business loan payment totaling $400,000 for the year, you have $100,000 of equity in your business. Equity changes as the value of your assets and debts change.

 

Home equity works the same way. When you take out a mortgage to purchase a home, your home is collateral on the mortgage loan, so the outstanding mortgage principal must be deducted from the value of the home to determine your home equity.

 

In most cases, you make a down payment when you purchase your home. That down payment is your initial home equity. If you pay a 20% down payment on a $200,000 home, you have $40,000 equity when you close on your purchase.

 

As time goes on and you continue to pay down your mortgage principal, your equity grows. Usually, the longer your own your home, the more equity you gain because you are paying down your mortgage.  However, any debts you take on using your home value as collateral, such as a second mortgage or home equity line of credit (HELOC,) decrease your home equity.

 

The changing real estate market also influences your equity. If you paid $200,000 for your home, and two years later the homes in your neighborhood start selling in the $400,000 range, your theoretical equity increases. (Theoretical because you don’t realize your home equity until you sell your home and pay off all debts against it.) You can also lose equity if the market takes a dive but be patient and it should recover in time.

 

Equity also grows if you make improvements on your home that increase its value. Let’s say you renovate your kitchen and add all new appliances. You have increased the value of the home. Your equity doesn’t increase by the amount your spent on the improvements, but on the value you get upon resale. This is an important point when considering making improvements prior to putting your home on the market, and one that is often misunderstood.

 

Let’s say Joe spends $50,000 on upgrades to his home. He might tell his neighbor, “I have $50,000 in my home,” but when he goes to sell, the current market dictates how much he will actually get in return. If Joe ends up selling for $40,000 more than he originally paid, his $50,000 investment got him $40,000 in home equity.

 

Some things you can do to increase your home equity include:

 

1) Make a large down payment when you purchase your home. The more cash you put down, the more equity you begin with.

 

2) Make increased or extra payments on your mortgage principal. Adding to the principal portion only on your monthly payments, or making extra payments when you are able, helps chip away at your outstanding debt.

 

3) Be smart when making home improvements. Not all improvements build equity. Some improvements may be personal preferences that don’t necessarily add value for resale. Improvements such as a new HVAC system, new appliances, or a new roof are usually more reliable investments than a fountain in the front yard or surround sound speakers throughout the house.

 

4) Don’t borrow against your home equity unless you must. Home equity is often a homeowner’s biggest asset, and can help to build your retirement nest egg, but it can also come in handy if life throws you a curve ball and you need to borrow against it for an unforeseen emergency. Be careful not to borrow against your equity for frivolous purposes, so it will be there if you really need it.

 

5) Sell when the market is favourable. If you are counting on your home equity to help finance your next home, pay for your children’s education, or add to your retirement funds, try to sell during a seller’s market when inventory is needed in your area.

Posted in Market Updates
June 1, 2021

Cabinet Painting

A kitchen renovation can be a massive investment, but it does have a good return. A new, modern kitchen will improve the aesthetics and personal enjoyment of the space. It can also add resale value to your home and improve marketability if you decide to sell.

The most expensive part of your kitchen renovation will be the kitchen cabinets. Not only will the cabinets eat up a large portion of the total renovation budget, they also play the biggest role in how your kitchen looks and functions. If you want to renovate the kitchen to sell your home, or to just enjoy it yourself, there is an alternative to an expensive cabinet replacement.

Cabinet painting can save thousands!

Cabinet painting, or cabinet refinishing, is a budget-friendly alternative to buying and installing new replacement cabinets. It is when you keep the original cabinet boxes and paint all exposed components including the doors, drawer fronts, frames and panels.

Let’s breakdown the estimated cost of refinishing cabinets vs. a full cabinet replacement. Keep in mind these price points are estimates and that you should always contact a painting company or cabinet company for an accurate quote.

Cabinet refinishing costs:

According to statistics gathered by Improvenet.com, the cost of painting your cabinets can be between $1,800 and $2,800 on average. Factors that will determine the cost include the size of your kitchen, number of cabinets, how much prep is required and whether you decide to hire Edmonton painters or to do the task yourself.

Taking this on DIY will save money, but it isn’t an easy job and seamless results are hard to achieve without the right tools or expertise. You must also factor in the time you’ll be without a kitchen while you’re working on the project. Learn the best way to paint kitchen cabinets.

The same report estimates professional installation costing between $500-$3000, based on the factors mentioned above. Add $200-$3000 for materials and supplies and you’re looking at a range of $700-$6,000 for professional cabinet refinishing. Again, the wide price range is because kitchens vary greatly in size, complexity and cabinet numbers.

Cabinet replacement costs:

A cabinet replacement is much more expensive than even the most expensive cabinet painting job. You’ll pay up to $10,000 for box store stock cabinets installed in a regular sized kitchen. Custom cabinetry or semi-custom cabinetry for a medium or large kitchen can cost $50,000 to $100,000 or more! If you want a kitchen remodel on a minimal budget, cabinet painting is your best option.

Can all cabinets be refinished?

You can choose to paint your cabinets if:

  • Your cabinet doors and drawer fronts are not damaged or warped.
  • Your cabinet boxes are still in good shape.
  • You don’t mind the current layout of your kitchen.
  • The paint will adhere to your cabinet door material.

 

Cabinet refinishing works best on solid wood cabinets. Wood can be sanded down, removing any blemishes, and easily painted or stained. However, you can paint over certain types of veneered cabinetry. Ask a professional cabinet refinishing company if your cabinet doors can be refinished. Paint and finishing products might not adhere to certain veneers or laminate cabinets and in most cases, wood is the best option

Posted in Home Trends