Real-Life Renovation Advice From a Real Estate Appraiser: 5 Tips From Vancouver Island’s Jackson & Associates
Thinking of renovating your home? Make the most of your renovation budget with home improvements that get the best bang for your buck.
Most real estate appraisers and consultants agree that remodelling a kitchen or bathroom offers the best return on investment. Cosmetic upgrades such as new paint and flooring are budget-conscious alternatives that will also improve the value of your home.
Regardless of the renovations you undertake, however, you shouldn’t count on a dollar-for-dollar return on every home improvement. Jackson & Associates, Vancouver Island’s most trusted source of real estate appraisal services, has a number of tips for homeowners entering the renovation arena:
- Complete any necessary repairs: A hot tub won’t compensate for a leaky roof!
- Research the market: Find out what homebuyers want and choose improvements that are in demand.
- Don’t outdo your neighbours: Keep your improvements consistent with the quality of your neighborhood and home. In other words, don’t put a $50,000 kitchen into a $100,000 house.
- Consider DIY, but do it right: Unfinished or poorly completed renovations can actually decrease your home’s value. If you’re not qualified to do the work yourself, hire a reputable contractor.
- Go green: Look at energy-efficient improvements. They may not save money now, but they will pay off long-term when energy costs increase.
The key to all home improvement projects is careful planning, realistic budgeting, and sound advice. If you need help, talk to one of the experts at Jackson & Associates. In their 33-plus years of operation, Jackson & Associates’ AIC-certified appraisers have completed more than 30,000 residential appraisals and more than 5,000 commercial appraisals out of their Courtenay office. Contact them today for specific valuation advice on renovations in your market area.