With the changing of the seasons, the shorter days and cooler temperatures mean many of us are now spending more time inside of our homes than outside in the yard. We’ve discovered that it’s generally at this time of year, the list of “to do” items we started in the spring, finds its way back to be front and center of our attention. Somehow, all the features about our homes that were nagging at us during the previous winter months, were a lot easier to ignore when the summer sun was calling to us to get outside and enjoy the warm weather. But, now that the shorter, darker, colder days are upon us, we find those same irksome items are still waiting for us, and it’s time to deal with them.
If you’re like us, you’ve already begun making a new and more detailed list that includes the desired repairs and/or modifications that you want to have addressed. You’ve spent hours googling the heck out of the required materials and labor/talent required in order to complete said tasks. And you’ve created a detailed breakdown of the associated costs.
Understandably, some changes are not easily achieved. Obviously, if you’re renting, it isn’t normally possible to make structural changes when the features of the home you’re living in no longer suit your needs. In that case, we’d be happy to connect you with a top professional mortgage specialist so you can discover if home ownership is an option for you.
As a homeowner, changing a too small master suite wall closet into a walk-in style requires additional square footage. Which means stealing space from one area inside the home making it smaller in order to enlarge another. In some cases, the cost of making the desired changes is excessive, and you’re not sure if investing the money into your current home is the best option for you. Since not all renovations are created equal, we believe it is important to know if the monetary investment associated with the projects you are wanting to undertake is going to appropriately increase the value of your home. Since you never want to overprice your home in the current neighbourhood you are living in, it’s important to weigh the current value of the home against the final cost of the development. In other words, if you are living in a neighbourhood where the average value of homes Sold is below the cost of the reno you’d like to complete and the dollar value you paid for the home initially, you may want to consider other options. In some cases your investment dollars are better spent changing the location instead of the layout of your home.
The bottom line is; If you’re thinking it may be time to start making some big changes, a good first step is speaking with a Trusted Real Estate Agent. We’d be happy to chat about the current value of your property in relation to the neighbourhood you call home. That way, you can consider all your options to be sure you’re making the best possible financial decision for your family.
INFORMATION HEREIN DEEMED RELIABLE BUT NOT GUARANTEED