Winter Planning for Spring Renovations
Be Ready to Sell this Spring
Like many Canadian homeowners, you may be planning to complete a few renovations before putting your house on the spring market. While most of us prefer to hold off on renos until it’s warmer out, the winter months are the perfect time to start organizing your projects.
In her recent Winnipeg Free Press column, Kim Ewchuk, Licensed Sales Representative and General Manager for ComFree Commonsense Network broker, offers readers some helpful tips for planning their upcoming renovations. According to Kim, a bit of research and practicality can get you the biggest return on your investment.
Start by getting to know your local market before you decide where you’ll invest your time and money. If few homes in your area have lavish upgrades, you might want to skip adding a gourmet kitchen or in-home theatre to boost your selling price. Buyers tend to shop in neighbourhoods that match their price range, so ‘overbuilding’ could amount to a disappointing ROI.
Kim also suggests focusing on projects that will bring you the biggest returns. Rather than spreading your resources thin with small jobs across the whole house, take care of the big-ticket renos (like roofs, kitchens, and bathrooms) that buyers don’t want to do themselves.
It’s also a good idea to be realistic about which jobs you can handle on your own. Though you might save money by tiling your own floor or replacing your own plumbing, poor workmanship could mean you’ll lose money on your offers. Unless you’re particularly handy, it might be worth calling in a professional.
Finally, Kim suggests aiming for classic looks if you’re going to change the aesthetic of a room. This is no time to install ultra-modern glass walls or neon lighting to make your home stand out from the rest; instead, try to appeal to the broadest audience of buyers and let them decide how to customize the home.
While it can be tempting to spend the winter hibernating with foggy dreams of spring renovations, you’ll be better prepared if you spend this time thinking through your projects. Remember that a sound strategy can do more than make your house more beautiful – it can bring you offers that will send you smiling to the bank.
To read the full article, follow this link.