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Interesting article: The Reality of Home Renovations

October 4, 2010 By 1 Comment

A few weeks ago I came across this interesting article about renovations and building permits. In Montreal we have Notaries instead of Real Estate Lawyers, and it is always useful to have this extra information when buying a property to renovate, or for home owners who want to do major repairs to their homes.

Will you need a building permit before starting renovations? For further information on this topic, contact your notary.

The importance of building permits to those renovating and to those buying renovated homes

Home renovations are taking place in Canadian homes on a daily basis and at a remarkable speed. Reality television may leave homeowners with the impression that a kitchen can be gutted between commercial breaks, a wall insulated in moments and an exterior addition completed within the hour. Adding value to the sale of your home or simply adding to the enjoyment of your own home is not a new phenomenon for Canadians. However, the lightning speed of these “reality” renovations can mislead the average homeowner in their own renovation plans and leave behind costs that exceed the home’s renovated value. [Read more...]

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Renovations that generates the best return on investment

September 20, 2010 By Leave a Comment

Everyone would like to maximize the sale of their house, but do you know where you should be starting?
It’s imperative to prepare well in order to succeed and that requires a bit of time, a bit of money and some effort.

In this article, I would like to cover the PRE home staging steps, namely the renovation work – which projects are more important, when and what will be your return on investment?

The first and foremost question is whether you are planning to live in your house for a while and enjoy the fruits of your labour or are you ready to move out.
If you will be living in the house for a few more years, go ahead and renovate, keeping in mind the projects which will increase the resale value of your home in the future. In 2008, all energy saving and GREEN home improvements were a big hit!

The Appraisal Institute of Canada released the following numbers:
Renovations which generate best return on investment

  • Bathroom renovation: 75 to 100%
  • Kitchen: 75 to 100%
  • Interior and exterior plastering and paint: 50 to 100%

Renovations which generate average return on investment

  • New roof: 50 to 80%
  • Replacing heating system : 50 to 80%
  • Finished basement: 50 to 75%
  • Adding of a family room: 50 to 75%
  • Adding fireplace: 50 to 75%
  • Installing hardwood flooring: 50 to 75%
  • Adding a garage: 50 to 75%
  • Replacing doors and windows (unless energy saving, then higher): 50 to 75%
  • Adding a deck: 50 to 75%
  • Central AC: 25 to 75%

But if you are ready to put your house on the market now, your strategy should be different: you should focus on some cosmetic improvements only which will increase the resale value of your property.

As per www.homegain.com survey of 2 000 real estate agents in the USA in 2009, here are some examples of recommended improvements as well as their return on investment:

  • Decluttering and a major clean up – 874%
  • Improving and updating lighting – 586%
  • Minor Landscaping – 473%
  • Electrical and plumbing repairs – over 300%
  • Interior paint – 250%

As you can tell, it’s possible to accomplish quite a bit on a reasonable budget. A home staging professional will help you decide on the priorities and the budget required to get your house sale ready. This is a crucial step before the home staging per say which is certain to give your house a WOW factor you are looking for!

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Home Renovation Courses from Heritage Montreal

March 24, 2008 By 5 Comments

Did you know that Heritage Montreal offers Home renovation courses?

If you are a home owner- the handy type, or if you always wanted to get basic information on home maintenance, these courses are right up your alley.
You can learn about home maintenance, renovation and restoration from professionals in the field.

  • How to plan your own renovation projects, find the proper resources.
  • Home Inspection: How to look at a house and understand its problems.
  • Understand foundation problems, their causes and solutions.
  • Discover how heating, ventilation, plumbing and electrical systems work.
  • How to look after the maintenance and renovation of exterior walls and roofs.
  • Insulation, main dynamics and the solutions to common problems.

And we are not talking about contractors involved; the courses are actually taught by architects and engineers.

Interested? Keep on reading >>

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Improving Your Home’s Air Quality

June 11, 2007 By 1 Comment

Is the air in your home making you sick?

It can be as innocuous as a persistent cough, rash or headache. But, for the very young, the elderly and those with respiratory disease, the effects of indoor air contamination can be far more serious. The very air you breathe could be affecting the comfort and health of your family. Recognizing the symptoms of poor air quality is the first step toward fixing the problem. Bad air can be the cause any of the following symptoms:

  • fatigue
  • headaches
  • cold or flu symptoms such as coughing, congestion and sneezing
  • redness or irritation of the eyes
  • irritation of the nose or throat
  • dry, chapped or irritated skin
  • allergies
  • asthma attacks

Your home may have bad air if you or your family continuously experience any of these indicators, primarily when spending time at home. [Read more...]

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Spring Has Sprung a Leaky Roof

April 23, 2007 By 1 Comment

Beautiful roof
That gentle spring rain is great for your garden, but it’s not so nice when you’re dealing with a leaky roof. If you’ve noticed peeling wallpaper, cracked paint, stains on the ceiling or actual drips that you have to catch in buckets or pots, you need to think about fixing your roof.

A few things you should know about roof repairs

The best-case scenario is that a section of your roof will require patching or repair. The worst-case scenario is an expensive recovering or replacement of your entire roof. When determining which scenario applies to your roof, interview some quality roofing professionals and consider these facts:

- A roof needs to be replaced every 20 to 30 years, on average, depending on materials, installation, weather and maintenance
- Finding the source of a leak can be challenging, even for roofing pros, and repairs can get pricey if you have to keep calling them back for additional fixes

When a new roof is your only option

Your chosen roofing professional has advised you need a new roof. Now, you have a number of new questions to answer: [Read more...]

Filed Under: Selling Real Estate Tagged With:
Montreal Real Estate Blog. Condo & Market News. Broker Deya Bautista.Home evaluation. Selling your home. Condo buying.