Renovations before listing your property? Wait!!!

You have made up your mind to sell your property. Now, you are thinking of renovating it so you could get top dollars for it. Wait, before you get started ask yourself these questions:

Is it necessary?
If you have any area that needs attention such as leaky taps or missing smoke alarms, get the work done without delay. Irrespective of whether you sell or when you sell, these are the things you should get fixed.

However, if you are thinking of adding a deck or renovating your washroom or kitchen to add to the value, think logically. Will it increase the value of the property? Will I be able to recover my investment? Will it help sell the house fast? Will it attract and appeal to the buyers?

I always advise my clients to contact me before the renovations because how to renovate, how much and what can have a huge impact on what your property sale and the profit.

How much to spend?
This depends on what you are spending on and why. Different situations will demand different spend. It is always better to contact your realtor before the renovations to get professional advice on real estate trends and market conditions.

Do I need a permit?
Best practice is to either visit your city office or go online and check their website. Rules, policies and by-laws may differ from city to city and province to province. The process of applying for the permit is simple and straight forward and city staff can guide you about the requirements.

Is DIY good idea?
Saving dollars always seems like a good idea and DIY (Do it Yourself) projects seems to fit the bill just right. However, sometimes DIY projects can cost more money than the original projects. If you don’t have the required know-how, skill set, tools, time or manpower, it’s better to hire a contractor and saves on time, money and frustration.

How to find a good contractor?
There are associations and boards where you can find accredited contractors such as Better Business Bureau” (BBB). Plus there are some reputed websites such as Trusted Pros (https://trustedpros.ca) where you can find reviews and ratings for contractors and companies.
Some city and region offices can provide you with the info of reputed contractors listed with them. Referral from family, friends, colleagues and neighbours can also help you find good contractors and avoid the ones with bad reputation. And remember to have the contract/agreement in writing.

You can find some very useful info and tips and learn about your rights and responsibilities before you get started with your renovations on this website https://www.ontario.ca/page/your-rights-when-starting-home-renovations-or-repairs.

 

 

Questions? Ask Me.  I may be a busy Bee but I’m never too busy to reply to your questions. 🙂

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