Thinking about home renovations? We can help in improving your home value!
Whether you are looking to buy a fixer-upper or renovate your existing home to improve the quality of life for you and your family, it’s worthwhile to understand which home renovations can help boost the value of your home and go straight to your bottom line.
According to the Appraisal Institute of Canada (AIC), the top 4 home renovations with the highest return on investment include:
- Updated kitchen – The kitchen is almost always the heart of the home. It’s no surprise that kitchen renovations consistently provide the best return on your renovation investment. If payback is important to you, keep the project in line with the style and quality of the rest of the house and neighbourhood.
- A sparkly bathroom – Bathroom renovations are also very reliable when it comes to boosting the overall home value.
- Fresh painting – A fresh coat of paint can work wonders on the overall impression of your home. If you are looking to sell, choose neutrals that have wide-ranging market appeal.
- Focus on decor – Updating lighting and plumbing fixtures, counter tops, and replacing worn flooring or refinishing hardwood floors are also definite ROI winners.
Of course it’s also important to budget for those home renovations that are necessary just to maintain your home’s worth. According to the AIC, it’s essential to replace the roof, update heating/cooling systems and replace windows/doors as they near the end of their life expectancy.
The AIC also lists the following as the top home renovations that generally offer the highest enjoyment value.:
- Finishing the basement
- Garage improvements
- Sun rooms and other additions
- Decks and fences, and
If you’re thinking home renovation, let’s talk. I can help you finance your reno so you can maximize your bottom line and personal home enjoyment. If you’re buying and planning immediate home renovations, Call us! I can bundle the cost of your planned renos right into your mortgage: so instead of sky-high credit card and line of credit bills, you’ll have your mortgage and renovations looked after in one easy monthly payment.
Call now at 905-851-8871 for a FREE No Obligation Mortgage Consultation.