To renovate or not? - Royal LePage State Realty Brokerage

To renovate or not?

10 September 2015
RLP State

Will I get the return on my home renovations when I sell?... Before you start knocking walls down and gutting your home for a major renovations, it's best to have your REALTOR come to your home and make suggestions first.  Not all reno's done to your home will give you the return you're looking for in the end.

Homeowners tend to embark on renovation projects to meet their needs, improve their quality of life or simply pamper themselves with a little luxury. But even if you're renovating primarily for your own sake, you should try to assess the post-project increase in the value of your house, just in case you ever want to sell down the road.

Such positive evaluations don't always hold true, however. For example, a kitchen that has been renovated for approx. $25,000 but in poor taste could adversely affect the sale of the house. If renovating in order to sell, you must plan for changes that will meet the needs of a majority of potential buyers and ensure that the modifications are suitably up to date and will appeal to the maximum number of people.

Canadians are investing in home improvement like never before and getting ready for the FALL market.  Best advice is to have a real estate professional come to your home and work together to get the top value for your home!