Did You Know?

By: Dave Shahi

Did You Know?

Tags: home renovations

 

You have heard the saying, “In order to make money, you have to spend money”. One of the biggest investments we make is the purchase of a home. When selling we want the maximum return on our investment. In order to achieve this you must evaluate the asset to determine if improvements will increase its value. Call me, I will walk through the house and point out where your money is best spent.

The chart below will be helpful in determining where your dollar is best spent. Don’t forget the exterior, a coat of paint, landscaping or simply cutting back bushes and planting flowers can make the difference. First impressions are very powerful and curb appeal can make the difference between a Buyer looking forward to entering your home or deciding it is not for them.

Always think “Re-Sale”, even if you are planning on staying in the property for a number of years. Renovations can be an investment, but should be done in neutral tones and classic low-key design.

Home Renovations

Kitchen
Bath
A/C
1 Car garage
2 Car garage
Additions
Siding
Basement
Windows
Decks
Gas fireplace
Pool

% Return on Investment

80%
80%
80%
80%
80%
60% – 75%
50% – 75%
60%
60%
50%
50%
25%

Sources: Canada Mortgage and Housing Corporation, and The Globe and Mail

As you can see, renovations such as kitchens and bathrooms have a great rate of return and I can assure you, they are one of the first things Buyers look at.

I am with you every step of the way.

 

Thanks.

Dave Shahi