A question you ask yourself when you are looking to list your home is, if the new owner would prefer the home with the kitchen as it is, so that they could make the renovations and upgrades themselves, or a home with an updated kitchen, which they could move in to immediately. This will depend on each individual and what they are looking for in a home. For example a first time home buyer will look for a home with an up to date kitchen and minimum renovations to be carried out by them.
We all agree that renovations and upgrades to your kitchen are most likely to give you the best return on investment. However, this will depend on if you have the extra cash to invest in renovations to your kitchen. Our advice to you is, avoid making costly renovations or upgrades to your kitchen, unless you are looking to increase the value of your home and also planning on residing at the property for a few more years. Also as we pointed out in one of our previous posts, home buyers can include renovation costs in their mortgage.
An interesting article published on National Post, on kitchen renovations, will give you an idea of points you should consider if you are making upgrades to your kitchen prior to listing.
If you found your dream home and need advice on mortgages, contact the team at mimortgage today. To get pre-approved today, apply now through our secure online website or speak to one of our agents at (866) 452-1100.