Renovations – How they affect the value of a property

Sellers

A recent post from Royal LePage details how to maximize your return on investment with regards renovations. Of course, I always add that unless you have experience, be careful of do-it-yourself projects – if not done correctly or professionally, it may not add the value you expect. Another point to consider is don’t make any renovations too personal, try to keep it to something that will appeal to more people and not get dated. Or, if it is something that will get dated, limit how much of it there is and so it’s cost to replace is limited.

Buyers

When looking at the asking price of a home and comparing to other recently sold properties take the above points into consideration.