The Best Renovations for Selling Your Home
Today's post is something I've wanted to talk about since we moved houses in December. Can we talk about finances for a second? Money is not a topic I post about regularly around here but I actually enjoy it (I have a degree in Finance and making Excel budget spreadsheets is what I consider fun). Weird, I know.
Spring is here and for many that means the start of the real estate season. The real estate market here in Toronto has been super hot the last few years and even if you weren't thinking about moving, the idea probably crossed your mind (and you might even be thinking about it now!). We debated that question for a long while... was it time for us to sell our home and move?
Spring is here and for many that means the start of the real estate season. The real estate market here in Toronto has been super hot the last few years and even if you weren't thinking about moving, the idea probably crossed your mind (and you might even be thinking about it now!). We debated that question for a long while... was it time for us to sell our home and move?
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| The old house. I miss that DIY walkway! |
When it comes to houses and money, there's a lot to think about:
- Do we sell and move to a less expensive neighbourhood and enjoy a smaller mortgage?
- Do we buy a bigger property in the same neighbourhood and shop for better mortgage rates and terms to make that purchase feasible?
- Do we find a way to finance building our dream home?
- Do we stay where we are and renovate?
Maybe you're tackling the same questions yourself?
It might surprise you (knowing how much we had already done to the house) that a big renovation was one option that was high on our list! Refinancing our mortgage to increase our cash flow and putting that extra money towards a big addition was one option we considered very seriously. We had seen many neighbours with similar semi-detached houses gain extra square footage with new family rooms on the main floor, expanded master suites on the upper level, and larger basements. It's important to talk to a financial advisor at this stage (PC Financial has trusted and knowledgeable advisors and offers some of the lowest mortgage rates compared to other big banks) and see what is possible. Ultimately, you want a house (and mortgage) that suits your lifestyle.
In the end, we decided that a move would be best for our family but I did want to share some insight in case you're considering moving, refinancing or renovating your home. I'm over on the PC Financial blog today talking about The Best Renovations for Selling Your Home. We had lots of feedback from the realtors and prospective buyers that came through our house on which renovations caught their attention. Visit the PC Financial blog to see what made the list.
Any guesses on what renovations appealed to buyers most? The last one on the list might surprise you!
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Disclosure: This post was sponsored by PC Financial. Thanks for supporting the brands I trust and use, who make this blog possible. All words and opinions are my own.
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