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Renovations

 

When preparing to sell you home, one of the best ways to enhance the value of your property and differentiate it from other homes on the market is to complete a number of basic renovations which will further attract buyers.  Investments into areas such as flooring, roofing, kitchens and bathrooms typically add significant margin to the resale value of your home.

 

When considering a renovation to your home prior to sale, it is very important to take into factor the current value of home and the market conditions.  The investment into a new bathroom may not make sense in a bachelor suite where it may make sense in a two bedroom, two bathroom home. 

 

The following represents some examples of potential renovations that a seller may consider and a representative return on the investment;

 

Renovation Type

Cost of the Renovation

Added Resale Value

Interior Paint

$1,000

$2,000

Lighting Fixtures

$2,500

$4,000

Hardwood Flooring Installation

$5,000

$7,500

New Bathroom

$6,500

$12,500

New Kitchen

$12,500

$22,500

 

Note:  The pricing represents averages based on industry publications and may not be realized in all cases.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.