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Make Your Home in Hamilton

Andrew Caton is passionate about two things - Real Estate and the Greater Hamilton, Ontario area including Hamilton Mountain, Stoney Creek, Ancaster, Dundas and Waterdown. Through the blog we hope to share the best of our city as well as provide timely and helpful real estate advice - whether you're buying or selling a home.
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Renovating Before Selling—Is It Worth It?

Renovating Before Selling—Is It Worth It?

One of the most common questions homeowners ask is whether it is worth renovating their house before listing to sell. There is no easy answer because what a buyer may be willing to pay depends on many different factors, including your neighbourhood, what renovation project you choose, how the housing market is doing, and even what materials you use. However, there are a few guidelines to help you decide just how much to invest in your house before listing.

 

Your Neighbourhood Matters

Don’t put more into your house than what it is worth. Do your research. Talk to a real estate agent and find out what houses in your area are selling for. This will help you see if it’s worth putting any money into your house, and what the budget should be capped at. If you live in a neighbourhood with schools, bus routes, and amenities close by, chances are your house will increase in value simply due to these neighbourhood assets.

 

The Project Matters

People buying houses primarily look at the kitchen and bathrooms. The downfall is that these are usually the most costly rooms to redo, but you’re also more likely to get a return on your investment. Smaller jobs like upgrading appliances, painting, refinishing surfaces don’t cost a lot, but these details help a buyer have a great first impression of your house.  A couple hundred dollars on these small projects can result in great investment return. On the other end, pools and home offices don’t tend to result in large return as only select buyers are looking for these specific additions.

 

Style Matters

When deciding to do any project with the intention of selling, it is important to understand that style matters. Most people prefer neutral colours and styles over bright colours and eclectic style. If you’re listing your house soon after redecorating or designing, look into what the current style is. Outdated style can be a deterrent for potential buyers.

 

The bottom line – do your research! Talk to a real estate agent to learn what your house is worth now, what houses in your neighbourhood are selling for, and what the potential R.O.I will be. And remember – more money spent does not always result in more money made. If you know you are renovating to sell, try to renovate in more budget- friendly ways.  

 

 

 

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