Recent reports show home improvement is still on homeowner’s minds across Canada and especially in York region and Durham region. The GTA real estate market continues to be red hot.
Why are you thinking about renovating? I know, it’s just fun to think about. The things you could do!. And then there’s the low interest rates, excellent buyer market, higher prices, and because buyers don’t want to do renovations themselves. And if you’re doing it to improve your own comfort, that’s a very good reason too.
If you do it yourself, you’ll likely end up with results that will lower your resale value. If you just jump on renos, you might end up paying a fortune, so why not focus on those changes that will generate the best impact for you?
The Most Important Renos
Here’s the 5 top ways you can increase the value of your home and make it more salable and comfortable.
5. Fix Shabbiest. Buyers will focus on the worst thing(s) about your home because it’s something they know they will have to change and renovate. So what’s shabbiest about your home? What’s most awful for you to endure?
4. Fix Key Rooms. Building a new kitchen, bathroom, or master bedroom with ensuite bath are proven to be the most important, but it’ll be costly.
3. Reno in the Fall. Doing your reno in the summer is a pain for you because renos take time. You want to enjoy your summer, so plan your reno for Sept to November and get a way better price.
2. Find a Good Contractor. This is where you take your time to find a competent one at the right price. There are hundreds of contractors, but who will give you excellent results? Does the contractor really know how to reno a bathroom, have lower cost materials and hardware, and work well?
1. Get a reno loan at a fixed rate or open a home equity line of credit (HELOC). Rates may rise in the next few years, so you should try to get the LOC paid down within 3 to 4 years.
Another important tip would be to keep your renos simple. The more work you’re doing the more likely it will get out of hand.
If you have $50k to $75k available, it might be better just to do an overhaul. But this is where the risk gets high. If you do it, don’t accept that your contractor/installer can do all the work themselves and that they’ll get the best subcontractors. A “friend of a friend” is a high risk variable in the renovation equation.
Go through the project with them in detail and ask questions about each step and what will happen if there is failure. Get it in writing! A guarantee does have a cash value.
Exciting New Renos for your Home
Looking for new ideas to perk up your old abode? How about a sunroom, solarium, glass showers and railings, or new windows and doors? These are our specialty. No, they’re not a common home improvement but they definitely take your home out of the humdrum category. Think about it and then give me a call to get some ideas and a quote.
See my other posts on glass showers and mirrors, new vinyl windows, and custom mirrors. Glass can make a wonderful addition to your living environment.