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hottesthomes .ca B D G BEFORE AND AFTER BRIAN GIBSON DESIGNS .COM PAINTING KITCHEN AND BATH RENOVATIONS DECORATING 416 931-3041 Making the Right Renovation Decision for Your Home If your home has become outdated, uncomfortable for your growing family or too expensive to maintain, you may be thinking of renovating. But where do you start and what is the best reno for your money? Of course, getting the right advice is an important step in making the best decision ­ you can always count on your financial planner, mortgage specialist and Realtor to help, and consulting a design professional on what to do, and how, is important to ensure the greatest return on your investment. While your specific needs play the biggest role, it's also important to keep in mind what future buyers may want. Here are a few things to consider: Make sure you are clear as to why you're renovating Before you go too far, consider why you're renovating as this will influence your budget and design decisions. Be careful to draw the line between what's desirable and what's essential. Whether your plans are to enhance your family's lifestyle, retrofit mechanical systems or for maintenance and repair, there are many benefits including increased market value, comfort, convenience and aesthetic appeal. Choose renovations that deliver the highest possible return While most improvements increase the resale value of your home, the extent to which they retain value differs. Fortunately, renovations with the biggest payback are usually the ones you're likely to want too. The top renovations for return on investment include: RENOVATION RETURN ON INVESTMENT* 75% - 100% 75% - 100% 50% - 100% 50% - 80% 50% - 80% 50% - 75% 50% - 75% 50% - 75% 50% - 75% 50% - 75% 50% - 75% Kitchen Bathroom Interior/Exterior painting Shingles Furnace/heating system Basement renovation Recreation room addition Installing a fireplace Flooring Window/door replacement Building a deck (*Source: Appraisal Institute of Canada) Dave LoDuca Ceramic Tile Installation Back Splashes · Heated Flooring Bathroom Renovations Keep future marketability in mind A strategic approach to renovations means thinking about future salability. The cost of some updates can be lower than the first price reduction in the selling price of your home. o The more recent the improvement, the higher the return on investment. o Even if your renovations don't recoup their entire cost, they often help your home sell faster. o If your home's market value is above average for your neighbourhood, expect a relatively low return on renovations and vice-versa. o It can pay to bring your house in line with what other homes offer in your neighbourhood. A home reno done right can bring a great deal of satisfaction and comfort to your family and increased value. There are many resources available to help you in the process, including your professional Realtor. 416-989-7809 905-877-1936 Free Estimates loducatile@gmail.com thom@hottesthomes.ca SALES REPRESENTATIVE INSTALLATION, SALES, & SERVICE Listing? Buying? Call me! OFFICE 905.877.5165 DIRECT 416.524.6530 247 GUELPH ST., GEORGETOWN Thom Gallagher is a Sales Representative with Johnson Associates Real Estate Ltd., Brokerage. For more information on this article or to discuss buying or selling a home, call Thom at 416-524-6530 or visit www.hottesthomes.ca. 905.703.7609 FOR ALL YOUR RESIDENTIAL HVAC NEEDS. W W W. G E O R G E T O W N H E AT I N G . C A SAVE up to 30% on your energy bills with an ecoENERGY Audit Dominion Lending Centres Homestead Financial, #11711 An Independently Owned & Operated Corporation (Downtown Georgetown) When it comes to flooring...nobody does it better.® 26 Guelph St, Georgetown · 905 877-9896 carpetone.com · 1-800-CARPET-1 Catherine Evel, Lic. # M08001936 Ph: 905-690-6834 Cell: 905-741-2110 Fax: 905-690-4493 email: catherine.evel@dominionlending.ca http://www.catherineevel.ca Canada's Leading Home Inspection Company Want a FREE Home Inspection? Find out how: www.HowHomeInspectorsHelp.com Call today to speak with an Accredited Mortgage Professional 1-800-794-5880 S I D E R O A D S O F H A LT O N H I L L S WINTER · 2011 26 W TANNING PACKAGES Experience the Finest in Tanning & Skin Care 369 Mountainview Rd. S., Georgetown 905-873-4343 www.Bellatan.ca with coupon One coupon per person. Expires March 31, 2012 $5 OFF