Just thinking about spring and all the conversations I have been having with clients about spring renovation projects they want to accomplish. Should we redo the kitchen?, the bathroom?, how about a complete paint to fresh’en things up and increase the resale value?. Well, if you are renovating to up resale value in Saskatoon know your area, the price range your home is competing in, and stay in the mainstream for decorating colors and products. This will not alienate any of your potential buyers, you want every and all potential buyers to be bidding on your home for maximum dollar. Staying in the “mainstream” for color and product choices will also ensure you a maximum return on your renovation dollar. Consider this, if you were investing $10000.00 on a well thought out , well planed bathroom Reno, you can expect to get back on average $6600.00 in increased value. Let’s call it the 2/3’s rule of thumb.
Biggest thing to remember for resale, fit the renovation to the neighborhood, and price range of the area. Do not cheap out or go overboard in the wrong area. Your REALTOR® should be able to advise on this , but as an example, putting a $2500.00 sink into a one bedroom condo bathroom renovation may not be the right product choice for return on investment. Nor would a $15000.00 kitchen Reno budget be enough for the buyer expectations on a $1,000,000.00 home in the Willow’s.
If you are freshening up for spring resale, stay away from bright color choices, remember stay “MAINSTREAM” just say no to any highly personalized projects, just because you like Pink polka dotted ceramic tiles imported from The hills in Bangladesh, and hand polished by Monks in Tibet, laid throughout the entire main floor of your home in East view does not mean your helping the resale of the home. Again your REALTOR® should be able to advise on well spent Reno dollars.
Here is a chart that may help…
There is a lot of information out there to help with getting top dollar out of you renovation investment, and achieving top resale dollar for your home. Again your REALTOR® should be able to advise you on this.
If your REALTOR® cannot offer this advise and you are not under any contract with them, here is an alliterative ………
Call Rob Pellegrini 306-280-1602.
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