We found
another great article authored by Scott McGillivray of HGTV entitled “Top 5
Renos for Return on Investment” and thought we would share it with our readers
as folks are always asking us if it pays to update their home if they are
planning a move. According to Scott “…knowing
the right renos to invest in is important to ensure you get the most bang for
your reno buck”. Here is a brief
overview of the renovations he suggests may give the most return on investment:
5. Flooring: Installing new flooring gives a room an updated
and renovated look and feel and can be done on a fairly limited budget,
depending on the flooring you choose.
4. Hardware &
Fixtures: A home can be updated relatively
inexpensively simply by replacing items such as cupboard and drawer handles in
a kitchen and/or bathroom, changing outdated light fixtures, and replacing door
knobs and/or door hinges.
3. Bathrooms: Updating a bathroom to give a “spa-like” feel
gives a great return on investment as they are usually the smallest rooms in
the home and therefore require less investment to make a big impact. When it
comes to bathroom renovations Scott states “a little goes a long way”.
2. Kitchens: Scott assures “…you can do a great kitchen
renovation on a realistic budget” and further states “…kitchens also give you
the biggest return on investment, far beyond any other room in the house”.
1. Income Suites: Scott reports “…there’s no renovation you can
do to your home that will increase its value as adding an income suite”, he
further states “income suite renovations, when done correctly, easily allow you
to double your investment”.
We hope these few tips help make your decision about renovating
your home easier – to read Scott McGillivray’s full article online please click here.
If you or someone you care about is thinking of making a move or
if you just want some general information about the Real Estate market in your
area, please don’t hesitate to give us a call, we would love to talk to you!
Until next time,
The Jamie Dann Team
