Looking at your home as an investment, what are some of the renovations that have the most financial impact?
Many real estate brokers say there are two rooms that heighten resale price: kitchens and bathrooms. Other good investments, they say, are home theatres, hardwood floors, and state-of-the-art laundry rooms.
These can require costly renovations, for sure, but statistics show that quality renovations increase your home’s value the most.
The important word here, of course, is “quality”. If your renovated kitchen or bathroom or basement is shoddy or imperfect, the value decreases dramatically. Quality means first-class in every corner, with every product used, with every bit of craftsmanship.
It’s almost impossible to get that kind of quality if you do the renovations yourself, and there are certainly no guarantees if you hire just anyone. In fact, if you hire a disreputable or unqualified contractor, you run the risk of hurting your investment, sometimes substantially. When you have to call someone to tear a bad reno and do the job again properly, you just end up paying twice.
A reliable way to have a quality renovation, one that will protect and increase the value of your home, is to hire a professional renovator. Even then, it’s wise to shop around, get references, see the renovator’s work, and make sure your renovator understands what you want and need.
One good place to start is with a directory of RenoMark® renovators. These are professionals who have agreed to abide by a strict renovation code of ethics. RenoMark® renovators take their work seriously. They are proud of what they do. They attend information sessions and seminars in order to keep informed and to stay on top of the newest techniques and products in the renovation industry. They are a community. They’re peers. And they are trustworthy.
For quality, impact, and investment, hire a pro. It’s worth it.
By Francie Healey, Ottawa Renovates editor, published originally for the Greater Ottawa Home Builders’ Association RenoMark blog