Edmonton Real Estate Blog

Small Renovations Equal Big Payoffs

Before you go ahead with the high end, spare no expense kitchen and give your contractor the green light, you might want to consider what the return on that investment might be. Too many times home owners do renovations that are far beyond the value that their home in their neighborhood will return on their investment. In some cases it may even make it more difficult to sell your home. If you're making the renovations because it's what you want and how you want your home to look and feel, that's fine, just don't expect the next buyer to place the same value on it.

I once listed a house that had installed copper tiles on the ceiling. Granted they were beautiful and the home owner loved them. The problem was, no one else did. What prospective buyers saw was a ceiling that made the room appear much smaller and the high cost of removing all those tiles and refinishing the ceiling. Needless to say the seller was incensed and it took months to sell that house. When it did finally sell,...