5-mistakes-homeowners-make-that-could-cost-thousands,-according-to-zillow
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5 Mistakes Homeowners Make That Could Cost Thousands.

ByStan S.

HOME BUYERS – To get the best exclusive listings visit www.vreg.ca and go to “EXCLUSIVE DEALS”

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Selling your home is one of the biggest financial moves you’ll ever make, and many homeowners are unknowingly leaving money on the table. A new survey from Zillow, conducted by The Harris Poll, revealed five major misconceptions that can cost sellers thousands of dollars. From over-investing in renovations to skipping key agent interviews, these are mistakes even experienced homeowners make.

Here’s what to avoid and how to maximize your home’s value and get ahead in today’s competitive market.

1. Spending Too Much on the Wrong Renovations

While it’s tempting to think a pricey kitchen remodel or a full addition will boost your home’s value, that’s not always the case. According to the survey, nearly one-quarter of homeowners (23%) believe building an addition offers the best return on investment. In reality, lower-cost upgrades, like a fresh coat of paint or improved landscaping, have a bigger impact on your bottom line.

Focus on strategic updates that improve first impressions, both online and in person. Think fresh paint, staging, and curb appeal.

2. Underestimating the Power of “Screen Appeal”

It’s not just about curb appeal anymore. Buyers often make their decision based on online photos and virtual tours before they ever step inside.

Still, 40% of sellers think curb appeal matters most. But Zillow found that listings with features like 3D Home tours and high-resolution images sell for 2% more than similar listings without them.

3. Skipping Key Steps When Hiring an Agent

Many homeowners believe they can skip the legwork when choosing a real estate agent, but Zillow experts warn against it. One in four homeowners don’t read online reviews, research sales history, or interview more than one agent.

Treat hiring a real estate agent like a job interview. Ask about their local experience, listing strategy, and marketing tools, and check their track record.

4. Highlighting Wrong Features in Listings

45% of sellers think open floor plans boost value, but according to Zillow data, open layouts sell for 0.2% less than expected. On the flip side, listings that mention natural materials, like soapstone countertops or white oak flooring, can sell for up to 3.5% more.

Work with your agent to highlight what today’s buyers are looking for.

5. Misunderstanding Seller Disclosure Rules

Here’s a costly one: More than half of sellers think it’s okay to hide serious issues like water damage, pests, or asbestos to get a quicker sale. But failing to disclose known problems can lead to legal trouble and lost trust.

Always disclose issues honestly and lean on your agent to help navigate what’s required in your state.

What Sellers Get Right

While some misconceptions remain, homeowners are making smart moves in key areas.

  • 70% understand the value of listing across all major real estate platforms, including REW.ca and Realtor.ca.
  • Only 8% believe in private, limited listings, correctly recognizing that casting a wider net brings better offers.
  • Sellers who don’t list on the MLS (Multiple Listing Service) make thousands less on average.

Call Stan at 604-202-1412

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    The Truth About Real Estate in the News

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    Myth #2: Put Less Than 20% Down So Banks Will Give You Better Rates Some mortgage brokers and lenders have perpetrated an enormous lie. They have suggested that if buyers purposefully use a smaller-than-average down payment and pay for CMHC mortgage insurance (which is mandatory for down payments under 20%), banks will perceive these loans as “safer” and offer these buyers a much lower interest rate on larger loan-to-value ratios. This is wrong. Banks are not solely looking at down payment sizes to determine the lending rate they will offer you. They look at your income, credit history, and debt-to-income ratio, getting a comprehensive view of your financial status and ability to repay your loan over time. Any “risk” they face of you being unable to pay your loan is offset by the home value itself, not by CMHC insurance. If you don’t pay your mortgage, they have the right to sell your property under a power of sale and recoup their losses. In this way, the bank is always protected from default risk. If you do not need to pay for CMHC insurance, avoid it because it will add to your monthly costs and provide no additional benefit to you. You can do the math: if you were to put less than 20% down, you would have to pay CMCH insurance, which ranges from 0.60% to 4.5% plus tax, which adds thousands of dollars to your housing costs. The only reason someone would push you to put less than 20% down when you have the funds to put 20% down is that they are getting some sort of benefit from it, not you. Mortgage brokers are paid based on the loan size you sign up for, so if you request a 90% loan instead of an 80% loan on a $500,000 property, they will get paid more. The lender, too, will gain more over time as you pay them more interest on your larger loan. Despite this misinformation controversy, the CMHC does offer a great program to help buyers who have less than a 20% down payment break into the market earlier. However, you should use it with a full understanding of the long-term costs. Ultimately, if you have more money to put down, you should definitely do it instead of paying extra fees like CMHC insurance. However, there is one important exception to note. You can get lower rates for investing in multifamily homes (with 5 units or more) that are insured by the CMHC. Typically, for buildings with more than 5 units, you would need a commercial mortgage and a larger down payment, like 25% down, but the CMHC offers preferred rates for eligible multifamily home projects. One specific program, the CMHC MLI Select Program, allows you to receive a lower interest rate than regular residential and commercial rates with less money down while still giving you the power of leverage. This program is available to help build the type of multifamily housing Canada needs the most: affordable rentals, student housing, and retirement housing. The CMHC MLI Select Program allows you to invest in multifamily buildings with only 5% down and offers extended amortizations for up to 50 years and reduced interest rates.

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    Vancouver falls down the list of top cities in the world for 2025

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    6 Ways to Unstick Windows That Have Been Painted Shut

    ByStan S.

    Credit: Getty Images / Vicki Smith Opening windows that have been painted shut can prove challenging, as dried paint creates a surprisingly strong hold. Whether it was a simple window painting mishap or your home got the “landlord special,” where every surface was covered with layers upon layers of white paint, you’ll need to break the seemingly impenetrable seal that the dried paint creates. To help you get started, this guide explains various methods for opening a window that has been painted shut, along with the necessary safety measures to use. How to Unstick Windows That Have Been Painted Shut To open windows that have been painted shut, you need to break through the paint holding the window shut. While this may sound simple, it can be difficult. Here are a few different effective methods, but you need to choose the one that is right for your situation. For example, if you want to preserve the paint on the window, choose a method that disturbs it as little as possible. 1. Apply Heat A heat gun is useful for warming and loosening the paint bond, which allows you to easily scrape it off the window and remove it from the sash so you can open the window. It can be challenging to pinpoint precisely where to apply the heat, so you should only rely on heat application if you aren’t looking to preserve the surrounding paint. Before using a heat gun, ensure there’s nothing nearby that can be damaged and refrain from using heat on plastic window sashes, as they may warp and melt. 2. Score the Paint With a Multitool Painter’s multitools, such as a 5-in-1 tool, are effective for scoring and cutting out paint that’s holding a window shut, as they’re both strong and sharp. However, the thicker blade might damage the surrounding paint, so choose this option only if you’re looking to replace the surrounding paint. 3. Score the Paint With a Utility Knife If you want to preserve the paint finish while also unsticking the window, scoring the seal with a razor blade or a utility knife can offer the cleanest cut. However, if your paint is old, brittle, or has several layers, it can be difficult to score it cleanly. If this is the case, a heat gun can be effective for warming and softening the paint, allowing you to score it more easily and cleanly. To preserve the paint on the window, avoid applying too much direct heat, as it can cause the paint to bubble and compromise its integrity. 4. Break Deeper Seals With a Putty Knife If you’ve scored the paint along the window sash, but the window still won’t budge, dried paint may have seeped deeper into the sash. To break this invisible paint’s hold, place a thin, flexible putty knife in the gap and lightly tap it with a hammer. Work your way around the window until you’ve fully broken the seal and the window opens. If the window has been painted shut, there’s a good chance it hasn’t been operable for years. To aid in future operation and prevent your window from getting stuck again, apply a spray lubricant, such as silicone spray, to the tracks. 5. Use Wood Shims to Open the Gap As you work your way around the window, slide thin wood shims into the gap to slightly hold the gap open, lightly tapping them into place with a hammer if needed. Be careful not to push the shims in too far, as this may stress the window and could even break the glass. 6. Score the Outside of the Window Still no luck? If you haven’t already, check the outside of the window to ensure it hasn’t been painted shut as well. Window Paint Removal Safety Tips Before attempting to remove paint, take the necessary safety precautions to keep you and those around you safe during the paint removal process. Test for lead paint. Removing lead paint requires a higher level of precaution . Most experts recommend skipping lead paint removal and instead opting for encapsulation, so your safest bet may be to score the paint enough to open the window without removing it altogether. Wear the appropriate safety gear. Whenever removing paint, wear the proper respirator to protect against both particles and fumes. Additionally, wear safety glasses and gloves when working with tools for paint removal. Use caution when scoring paint. Whenever you’re using a blade to score paint, use extreme caution and do so slowly and steadily. Moving too quickly or applying too much force may result in injury or damage to the surrounding materials. Consider masking the glass. When working around windows with hand tools, there’s a risk of broken glass. To protect your windows, consider taping cardboard to cover the glass while you work.

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    7 factors to carefully consider for the Granville Strip’s revitalization

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It gradually faded into irrelevance and ultimately became the Granville Strip’s last theatre, until its closure in 2012. The site remained dormant for years until late 2024, when Cineplex’s The Rec Room finally reached completion and opened, marking a long-awaited return of entertainment programming to the large property on the Granville Strip. Time-lapse video of the demolition of Capitol 6 Theatre in 2006/2007: Empire Granville 7 theatre at the Granville Entertainment District before its closure. (Google Maps) Will this actually catalyze new development worthy of the entertainment district? All of this leads to the first major question: Will the new development allowances outlined in the Granville Street Plan actually motivate property owners and developers to move forward with truly ambitious building projects worthy of the entertainment district? 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