Our last blog was on the Real Estate Board of Greater Vancouver's residential statistics for Vancouver East. Today, we'll be looking at Vancouver West. As you can see, year over year, the three property types have seen a decrease in unit sales. However, if we were to compare on a monthly basis, from October 2016 to November 2016, there has been a decrease in sales for detached properties and condos of 11.54% and 1.66%, respectively, and an increase of 54.17% for townhomes.

As for the MLS HPI Benchmark Price, there has been an increase across the board when comparing between 2015 and 2016 in the months of October and November, which is a similar trend for Vancouver East. When comparing October 2016 figures with November 2016 figures, there are mixed results. There was a 1.36% decrease for detached properties, 0.91% increase for condominiums and a 3.07% decrease for townhomes.

For a look at the MLS HPI Benchmark Price over a 10-year span, click here. For all your real estate needs, contact the WeSellVancouver team at info@wesellvancouver.ca or alternatively at 604-801-6654.

Following up with our previous blog, "move up" homeowners react to asymmetrical price increases with the recent trend in renovating their home rather than moving into bigger, more expensive homes. Take a look below at a list of DIY home renovations that won't break the bank.

[1] Splash of Colour
Fresh paint can easily transform the ambience of a room. The amazing thing about paint is how it can personalize a home without a hefty price tag. It is nearly effortless, comes in an array of colours and shades and best of all, it's cheap! If you're someone who enjoys frequent changes, you can easily create a new look by painting your room again.

Having an accent wall can add character into a room by incorporating a striking design element in your space. You can create a stunning, unique space by painting your accent wall a different color or pattern. To create a bold statement, you can make the accent wall pop by choosing a bold, colorful shade that will accentuate the space without overpowering it. In contrast, you can opt for a sleeker look by designing an accent wall that is a gradual contrast rather than a bold one. Try a color that is a few shades deeper than the rest of your walls. 

If you were to choose one room in your home to renovate, it should be your kitchen! The kitchen is the single most important focal point for most prospective home buyers. Below you will find some money saving tips for kitchen makeovers!

 [2] Cabinetry DIY
Replacing cabinetry can be quite expensive so why not make use of your existing cabinetry? Often times a simple fix-me-up can do the trick. Try refacing or refinishing your cabinets! Refacing involves replacing the cabinet doors while keeping the actual cabinet boxes intact. Alternatively, if you have wood cabinets, you could refinish them by sanding down and repainting or staining them.

 [3] Changing up the Countertops
Granite countertops seem daunting due to its price tag but search around for deals at your local retailer or peruse through the clearance section to find quality materials at a fraction of the cost. For large kitchens, perhaps consider less costly alternatives such as Corian, quartz, wood grain or even eco-friendly materials such as bamboo or glass. 

 Next in line in terms of importance to current home owners and future home buyers is the bathroom. 

[4] Bathroom Beautification 
Ceramic tiles are becoming the flooring preference for today's home buyer. Depending on the size of your bathroom, you could find discounted tiles that you can install yourself. In addition to changing the flooring, you can upgrade your vanity and sink. Opt for a pedestal sink and/or freestanding storage cabinets for a cost-effective renovation. To make use of a small space, integrating continuing horizontal lines, a large frameless mirror and strategically placed lighting will create the illusion of having a larger space.

[5] Spruce Up Your Outdoor Space
Beautify the entranceway to your home by amping up your curb appeal. Place planters, shrubbery or flowers along your entrance way to liven up your entrance. Alternatively, you can line the walkway with perennial plants or outdoor lighting fixtures to light up the walkway. Another way to increase the value of your home is with a lawn transformation. Replace your existing lawn with sod (aka turf) to have a luscious green lawn that will be sure to stop traffic.

For all your real estate needs, contact us at info@wesellvancouver.ca or alternatively at 604-801-6654.

Don't let the stress of managing your rental property consume you! Let our property management division do all the heavy lifting for you while you reap the benefits. Whether you are an off-shore owner with a luxury fully furnished waterfront condo or a local owner with a single or multi-unit investment property, the team at WeRentVancouver can help. With many years of experience, our licensed property managers strive to make your investment as profitable as possible by offering a full range of property management services that meet your every need.

We understand your time is valuable and so our goal is to simply do the leg work for you, allowing you to make maximum profit from your investments, hassle-free. Let your property go to work for you, contact us today at 604-801-6654 or at info@werentvancouver.ca. For more information about how we can help you make the most of your rental property, check out our website at werentvancouver.ca - we look forward to hearing from you!