Archives for Upgrades and renovations

Bang For Your Buck: Renos That Will Increase Your Home’s Value

If you are a homeowner, you’ve probably spent money on your property over and above the regular carrying costs.  Investing in your  property has the obvious benefits of making your home nicer to live in, but smart renovations can also have the side benefit of increasing a home’s value when it comes time to sell. Below is a list of some of the home renovations that have been shown to add the most to a home’s value, as well as some renovations to avoid. Flooring Flooring can be a costly renovation, but can also add to a home’s value if
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Why Move? A Look into Canada’s Homebuyers

How many times have you moved (so far) in your lifetime? Once? Twice? For a brief time while in school? Work? Or have you moved far too many times to even count? What about those times that you have moved from one place to another, were they on your own? Were they with your family? Your partner? A few friends? And did you live in these homes for long enough to consider it a home? Sure, the vast majority of us may answer differently to each of these questions, but we do share one common factor: the overall experience. Truth
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The Bank of Mom and Dad: Living as Millennials

  It’s no secret: the cost of living is expensive. Regardless of who we are and what we do, we live and breathe steep living costs day in and day out. It’s a fact of life: if we’re not saving our pennies, we’re spending them; if we’re not paying off one bill, we are another. It’s the never-ending cycle of our (financial) lives. Enter: mom and dad. For the vast majority of us, mom and dad means home; and home is where the heart is, after all. It’s become a common trend among many baby boomers to take part in
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What Home Owners Can Do With a Tax Refund

  If you are a homeowner, a tax refund presents opportunities to invest for a profit that aren’t available to renters. Whether you plan to sell, stay or are undecided, there are ways to optimize the financial impact of your refund. The first step is to treat your refund check the same as you treat your paycheck. Avoid the temptation to splurge and give that refund money a purpose. Here are three home owner-only options to grow that refund:   But, Are You Withholding Too Much? Most of us enjoy getting a large tax refund every spring. But, a refund
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How Important Is Home Staging?

Because the Internet has changed the way we buy and sell homes, most real estate professionals believe home staging is critical to selling success. Almost all home buyers begin their search online meaning sellers need to make a good first impression so potential buyers want to see their home in person. Hence, staging has taken the residential real estate industry by storm and many sellers are hiring professionals to help them make that first impression. National Association of Realtors (NAR) President Chris Polychron says “staging is an excellent tool that can be used to give a home a little extra
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7 Deadly Sins of Home Renos

  Homeowners who renovate only to boost resale value should aim for a return on investment (ROI) of three dollars for every dollar invested. Resale renos should be neutral in colour and conservative in tone so they appeal to the maximum number of potential buyers. And, cost control always trumps elegance.   In fact, some renovations can actually damage your home’s value. These supposed improvements not only add nothing to your bottom line, they may make your home less attractive to potential buyers and bring down its value. Here are seven such expensive mistakes to avoid.   Pools A pool
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5 Questions to Ask Before Replacing Your Roof

  Most of us have little or no experience with re-roofing, so this post by home reno expert Bob Vila is a valuable guide to the questions a homeowner should ask before hiring a roofer.  First, ask for an estimate that is comprehensive enough (permits, inspections, materials, labour, contingency) to establish a firm budget.  Discuss the proposal in detail with the contractor.   Find out what materials are being used and get the specifications in writing.  Avoid cheaper, low quality materials, especially the shingles, because sub-standard materials reduce a roof’s life expectancy costing you more over the long term.  
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Reno Investments Providing the Highest Returns

This detailed Home Inspection Network post provides useful data to anyone who is considering a home renovation. Author Bev Siciliano begins by explaining what many do not realize – we might not fully recoup our investment when the home is sold.  For that reason alone, home renovations should be analyzed individually to ensure we get the highest return on investment (ROI). Generally, renovations that provide the best return on resale are superficial upgrades, like painting and decorating, with limited capital outlay and maximum impact.   According to the Appraisal Institute of Canada’s latest Home Renovation Survey, renovations with the highest return
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The Do’s and Dont’s of Basement Storage

  This article from Bob Vila gives eight handy tips to consider when using your basement for storage.   The suggestions include taking advantage of vertical space by building up and not out, using open shelves for frequently-used items and built-in cabinets to conceal toys or cleaning supplies, storing off-season gear in sealed bins to protect from moisture and dust, using a pulley-hoist to store heavy or bulky items from the ceiling, protecting tools stored in the open with a coating of machine oil to prevent rust and running a humidifier in the basement to suck moisture from the air and
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5 tips for eco-friendly renovations

  If you are renovating, you should consider the green strategies suggested in this realestate.com post by Danielle King.  For example, add insulation to the roof and external walls and you could save 25% on energy costs.  Replace inefficient windows or add window film since up to 40% of your heating can be lost through windows in winter.   Energy efficient appliances, LED lighting and solar panels will also contribute savings, while protecting the environment. Implement water collection techniques to use rainwater for toilets and the garden.  Include water efficient faucets and showerheads. Add high-flow taps that make baths and
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