Zoocasa
Real Estate Sold Prices
Calculator
Map
Property Trends & Insights
  • Blog Home
  • For Buyers
  • For Sellers
  • Real Estate News
  • Mortgage News in Canada
  • Free Guides (PDF)
  • Real Estate Infographics
  • Real Estate News
Zoocasa
Home Home Improvement

Over-Renovating for the Area

Zoocasa by Zoocasa
June 28, 2011
in Home Improvement
3 min read
Share
Tweet
Share
0 Shares

by Kelley Skar

I have seen this time and time again throughout my career in real estate, a vendor has decided to renovate a home and flip it without having done their due diligence first.

Renovating is ok, I mean it is better than ok, the more fresh and new you can make your home the better off you will be. What I am talking about is “Over Renovating” for your neighborhood.
Here is a hypothetical, and please know I am not knocking any neighborhoods in this post, you have a home in Forest Lawn in the Southeast of Calgary and you have decided you are going to do some renos before you sell. What do you do? Do you go and price out the biggest and best of everything? The most expensive carpet? The highest end hardwood floors? Granite? My advice…NO! Here is where I would start:

  • My first step would be to contact my REALTOR®, let them in on what it is I am planning to do and then ask them to take me on a tour of some of the homes that are for sale in the area. Maybe pull up some comparable properties that have sold recently so that you have an idea of the renos that have been done that have resulted in a successful sale.
  • I would then begin pricing out materials that are going to fit with the neighborhood. If the comps don’t have Granite, Hardwood or high end carpet then you don’t need all these expensive materials.
  • Does the home need a new roof or siding? Some of these will NEED to be done or you can expect to take them off the sale price of the home.

My point is this…if you over spend and over renovate for the area that you bought in, you will never see the return that you are expecting. If the comps have regular finishings, Arborite countertops, carpet and lino instead of tile and hardwood, then renovate along the same lines as the comps.

One last tip…if you are NOT handy…HIRE the work out to professionals that know their job and have experience. There is nothing worse than walking into a “Renovated” home and you can tell the “Handy” homeowner did all the work.

Want to know what your potential return on investment would be for your renovations? Here is a wonderful resource for you to get an idea as to what each renovation will net you at the end…go ahead and CLICK HERE.

—

About the Contributor

Kelley has consistently been in the top 5% in sales since he started full time in the real estate industry in 2008. He went through a major shift in his marketing plan at the end of 2009, recognizing the trend, and making the move towards digital marketing including websites, video, blogging and social media. Kelley is incredibly passionate about the use of technology and social media in his business and is often sought out for advice from other Agents from across North America. Kelley’s primary websites are: http://nwcalgaryliving.com and http://kelleyskar.com. 

To connect with Kelley through Social Media follow him on twitter.com/kelleyskar and on Facebook.com/kelleyskar. If you have questions or comments you can reach Kelley direct at [email protected].

Previous Post

Have you tried Google Voice?

Next Post

Hidden Fees in Real Estate

Zoocasa

Zoocasa

Zoocasa.com is a full-service brokerage that offers advanced online search tools to empower Canadians with the data and expertise they need to make more successful real estate decisions. View real estate listings on zoocasa.com or download our free iOS app.

Related Posts

8 Ways to Optimize Your Kitchen Space
Home Improvement

8 Ways to Optimize Your Kitchen Space

March 8, 2021
Home Upgrades a General Contractor Can Do To Help Sell Your Home
Guest Posts

Home Upgrades a General Contractor Can Do To Help Sell Your Home

May 23, 2020
Storage solutions for small apartments
Guest Posts

7 Ingenious Storage Solutions for Small Apartments

February 24, 2020

Blog Search

No Result
View All Result

Recent Articles

Five Fixes to Maximize Property Value Before Selling Your Home

Five Fixes to Maximize Property Value Before Selling Your Home

May 20, 2022
The Most Viewed Homes in April 2022

The Most Viewed Homes in April 2022

May 18, 2022
Entering a Balanced Market Spells Relief for Many Buyers: CREA

Entering a Balanced Market Spells Relief for Many Buyers: CREA

May 16, 2022
New Owner of the Cheapest Home in GTA has Big Plans for Her “250 Square Feet of Paradise”

New Owner of the Cheapest Home in GTA has Big Plans for Her “250 Square Feet of Paradise”

May 13, 2022
first-time home buyer programs and rebates

Featured Listings (Updated Weekly)

Updated: 7 Houses Under $900,000 For Sale in Mississauga

Updated: 7 Houses Under $900,000 For Sale in Mississauga

May 11, 2022
Hidden Gems in London, ON Currently Listed for Sale Under $540,000

Hidden Gems in London, ON Currently Listed for Sale Under $540,000

May 6, 2022
Updated: Cheapest Toronto Homes Currently Listed for Sale Under $1,000,000

Updated: Cheapest Toronto Homes Currently Listed for Sale Under $1,000,000

May 3, 2022
The Cheapest Toronto Condos Currently Listed for Sale Under $600,000

The Cheapest Toronto Condos Currently Listed for Sale Under $600,000

May 2, 2022

Social Media

Newsletter Sign-up

Join a community of 130,000+ subscribers. Don't miss important real estate news, market data, and buying and selling tips.

About Zoocasa

Zoocasa.com is a full-service brokerage that offers advanced online search tools to empower Canadians with the data and expertise they need to make more successful real estate decisions.

Newsletter Sign-up

Join 130,000+ weekly subscribers. Don’t miss important real estate news, market data, and buying and selling tips: sign-up here.

Social Media

Zoocasa Tools

MLS Listings Canada
Search Sold Listings
iOS App
Android App
Find an Agent
Contact Us

  • Homes & Real Estate Properties
  • Terms of Use
  • Privacy Policy
  • Contact Us

© 2015 - 2022 Zoocasa Realty Inc., Brokerage

  • Blog Home
  • For Buyers
  • For Sellers
  • Real Estate News
  • Mortgage News in Canada
  • Free Guides (PDF)
  • Real Estate Infographics
  • Real Estate News
No Result
View All Result

© 2015 - 2022 Zoocasa Realty Inc., Brokerage