What updates to your London Ontario Home make sense ( or should I say dollars?) if selling and planning to buy? Are you worried about spending wisely and getting your money back and more?
The most important question to ask yourself is:” How long am I going to stay here?”
If you plan to stay awhile, remodelling for your comfort and long term enjoyment is far different than modernization to make your home show better to sell. Some remodel projects take much longer to get a good return on your dollar.
For immediate resale value, the project needs to be assessed based on your neighbourhood. The best home improvements are cosmetic improvements. Minor updates to the kitchen and bathrooms, or a new roof are always valuable. Nice additions such as new carpeting or paint are another type of remodelling project that returns almost 100 percent of their cost to the value of your home.
For larger projects, the average return within one year after the remodel varies. Major kitchen remodelling gives an average performance of 71 percent, a family room addition at 77 percent, a master bedroom and ensuite averages 83 percent, and windows 68 percent.
It is important to remember that you will be selling your home someday, and you need to make wise decisions. You may want to weigh the up-front cost of the project versus the usefulness to you and added value to your home.
If you are thinking of selling or buying a home in London Ontario, and require the pros and cons of a renovation and the best return, I can give you the right information based on facts and not opinions.