Archives for Upgrades and Renos

Reno Investments Providing the Highest Returns

This detailed Home Inspection Network post provides useful data to anyone who is considering a home renovation. Author Bev Siciliano begins by explaining what many do not realize – we might not fully recoup our investment when the home is sold.  For that reason alone, home renovations should be analyzed individually to ensure we get the highest return on investment (ROI).   Generally, renovations that provide the best return on resale are superficial upgrades, like painting and decorating, with limited capital outlay and maximum impact.   According to the Appraisal Institute of Canada’s latest Home Renovation Survey, renovations with the highest return potential are kitchen and bathroom renos at 75 -100%, followed by interior and exterior painting at 50 – 100%.   Skylights rate the lowest potential return on investment (ROI) at 0 – 25%, with swimming pools at 10 – 40% and landscaping, fences and interlock at 25 – 50%.  Central air, decks, window/door upgrades, fireplace installs, rec room or garage additions, new flooring, and basement renos have a potential ROI of 50 – 75%.  To read more click here. The post Reno Investments Providing the Highest Returns appeared first on Team Realty. Source: Blog

The Do’s and Dont’s of Basement Storage

  This article from Bob Vila gives eight handy tips to consider when using your basement for storage.   The suggestions include taking advantage of vertical space by building up and not out, using open shelves for frequently-used items and built-in cabinets to conceal toys or cleaning supplies, storing off-season gear in sealed bins to protect from moisture and dust, using a pulley-hoist to store heavy or bulky items from the ceiling, protecting tools stored in the open with a coating of machine oil to prevent rust and running a humidifier in the basement to suck moisture from the air and combat mold or mildew.  To read more click here. The post The Do’s and Dont’s of Basement Storage appeared first on Team Realty. Source: Blog

5 tips for eco-friendly renovations

  If you are renovating, you should consider the green strategies suggested in this realestate.com post by Danielle King.  For example, add insulation to the roof and external walls and you could save 25% on energy costs.  Replace inefficient windows or add window film since up to 40% of your heating can be lost through windows in winter.   Energy efficient appliances, LED lighting and solar panels will also contribute savings, while protecting the environment. Implement water collection techniques to use rainwater for toilets and the garden.  Include water efficient faucets and showerheads. Add high-flow taps that make baths and washing machines fill quickly. Use low/no Voltatile Organic Compound (VOC) materials where possible, and non-toxic paints.to read more click here. The post 5 tips for eco-friendly renovations appeared first on Team Realty. Source: Blog

5 Questions to Ask Before Replacing Your Roof

  Most of us have little or no experience with re-roofing, so this post by home reno expert Bob Vila is a valuable guide to the questions a homeowner should ask before hiring a roofer.  First, ask for an estimate that is comprehensive enough (permits, inspections, materials, labour, contingency) to establish a firm budget.  Discuss the proposal in detail with the contractor.   Find out what materials are being used and get the specifications in writing.  Avoid cheaper, low quality materials, especially the shingles, because sub-standard materials reduce a roof’s life expectancy costing you more over the long term.   Inquire how the project will be accomplished – installing shingles on top of the existing materials may seem cheaper, but removing the existing roof materials will provide a chance to inspect the roof deck in case repairs are needed.  Ask if your contractor is licensed, insured, and bonded so you aren’t liable for any accidents during the project.   Finally, check how long the roof will last and ask about warranty coverage for materials (Owens Corning shingles are guaranteed for 50 years) and installation (most small contractors do NOT warrant workmanship).  To read more click here.   The post 5 Questions to Ask Before Replacing Your Roof appeared first on Team Realty. Source: Blog

7 Deadly Sins of Home Renos

  Homeowners who renovate only to boost resale value should aim for a return on investment (ROI) of three dollars for every dollar invested. Resale renos should be neutral in colour and conservative in tone so they appeal to the maximum number of potential buyers. And, cost control always trumps elegance.   In fact, some renovations can actually damage your home’s value. These supposed improvements not only add nothing to your bottom line, they may make your home less attractive to potential buyers and bring down its value. Here are seven such expensive mistakes to avoid.   Pools A pool will chase away numerous buyers due to maintenance, public liability, insurance and local government laws regarding fencing and safety barriers. Don’t waste the money.   Skip the Sunroom Unless you want the exposure to nature, avoid this addition which yielded only 48.7 percent ROI according to Remodelling magazine’s 2015 statistics.   Converted Garage Some homeowners see converting a garage as a cheaper way to add more living space than building an addition – and it is. But, many buyers prefer a garage to protect assets from the cold and snowy conditions. And, a garage is much more valuable than an extra room.   Fancy Faucets and Lighting Fixtures For kitchen or bathroom renos, avoid ornate fixtures for two reasons. First, you reduce the pool of buyers due to the cost. Second, stylized fixtures will appeal only to a small number of potential buyers, those who share your taste, further reducing your chances to sell.   Eliminating a Bedroom or Powder Room In older homes, combining smaller rooms in the public living space might add to the value and appeal to homeowners who like large, open spaces. Eliminating a powder room, however, is a bad idea. And turning a bedroom into a master closet or combining two bedrooms to create a large master suite may not pay. As Kevin Brown Jr., president of Praedium Real Estate Services points out, “You’ve eliminated a whole living space.”   Elaborate Landscaping A basic make over is the surest way to make money back from your outdoor outlay. Avoid overspending.   Things That Are Invisible Adding insulation, window upgrades, or air conditioning does not increase the value of a property as much as some sellers believe. This type of feature can add to the marketability, not the value.   The post 7 Deadly Sins of Home Renos appeared first on Team Realty. Source: Blog