Are Home Renovations a Good Investment?

Sticky Post Posted on August 9, 2016 by in Home Renovations

Home renovations are a good investment now. The current market is favorable to homeowners who want some facelift for their home. The loan rates building materials and Kelowna contractors are cheaper now compared to before, so you will be able to save a lot of money on your home improvement project if you find an experienced contractor that can help. Kelowna home renovations are in demand now. These are some reasons for investing in a home renovation project.

1. Low loan rates
Home equity loans have low-interest rates now. If you qualify for the loan, then you can use up that money for renovating your home without worrying to pay the high-interest rates. You will be able to pay back your loan with the high selling price you will get for your well-renovated house.

2. Reduction in energy expenses
One of the major renovation works that most homeowners do today is adding insulation, double-paned windows, energy-efficient appliances, programmable thermostats, energy efficient heating systems, etc. These will cut down your energy bills, and so your will save a lot of money. By making your home energy efficient, you become eligible for the green energy tax credits. So, the cost of renovation is further reduced.

3. Availability of cheap contractors
Many contractors are looking for a job. So, you can save on hiring one of these contractors. Look at the profiles of some contractors before choosing the contractor for your house renovation project.

Not all home improvements improve the value of your home. Some improvements are appealing to buyers, whereas others aren’t. Renovations like having a new garage door, wooden floor, insulation upgrades, new roof, kitchen and bathroom upgrades can give you a good return on your investment. You should have modern appliances and fixtures for your kitchen and bathroom. When renovating your home, you should consider your neighborhood. It is worth spending a lot in an expensive area where your surrounding houses are also priced similarly. But if the selling price of your home is higher than rest of the houses in the locality, then the renovation won’t pay off.

You should decide what kind of home improvements you want to do and within what budget. If you are looking forward to selling your home, then you must invest in home renovations. Buyers will be attracted, and you will get a better value for your home. If you are on tight budget, still you can do some fixes to make sure that the house is in an excellent condition. But with the current market condition, you will save a lot of money on your Kelowna home renovation project. If you have the time and money, invest in your home today.

Start To Finish Construction Ltd.

3 – 1385 Stevens Rd.
West Kelowna,
British Columbia
V1Z 2S9

Phone: (778) 755-1885
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