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Improving one’s home is a constant need in almost every person. There are things around the home that call for repairs every now and then: the leaking shower, broken door knob, cracked window among others. Renovating the entire home, however, is quite the investment. Especially vancouver renovations – since Vancouver, BC is one of the most costly places to live, the cost can definitely add up quickly.

Most people renovate their homes in Vancouver with the view of recovering the costs in a year or more through a sale of the house. It is a better investment compared to investing in the stock market because it is an investment that is solid and one you can keep track of on a daily basis. It improves the value of the home by the amount spent on the renovation or even extra. Furthermore, investing in renovating your home gives you something extra: the sheer pleasure of living in a comfortable and attractive house.

Despite the above perks, in a high priced market such as Vancouver, renovating your home can be tricky. If you are doing the renovations in hopes of getting the money back through a sale, it might not be a very good idea.

The upgraded kitchen and the Jacuzzi in the bathroom may make your house stand out and draw the buyers to it, but they may be unwilling to pay for it. Vancouver renovations kitchen upgradesmean starting off at a higher price and the price may be too high to draw any offers which may end up making you lower the price. This results in your house being on the market for long, and the longer it stays in the market, the lower the price is likely to go as buyers will associate the time with a defect in the house.

The above, however, should not make you cancel the renovations. The thing that you ought to focus on is your financial standing in the present and a few months or even years down the line. Make a plan for the Vancouver renovations such that they do not strain your budget too much. If you want to renovate and resell in a year or two, keenly study the house prices in your Vancouver neighborhood as well as the selling rate. If the prices are not increasing steadily or the uptake is low, reconsider the renovations or scale down a bit.

The most important thing to remember is to not over do it. Deal with the basics at the lowest possible cost. Ensure the amount spent on the renovations does not lead to you out pricing other similar houses in your neighborhood. Most importantly, consult. Real estate agents in your neighborhood should be able to tell you what buyers are looking for; they know what is likely to appeal to buyers and what may be too much for the neighborhood in question. Think about the sale price before commencing the home renovation. Ensure the selling price fully covers the expenses involved.

Home renovations in Vancouver, however, like any other investment is simply a gamble. You may end up reaping big or losing out, it all depends on the timing.

A Profitable Real Estate Market in Edmonton, Alberta

Posted December 9, 2014 By PSBNetBank

There has been a significant growth in Edmonton, Alberta’s real estate market during the last months of 2014. In fact, an abundance of Canadian territories are experiencing a net influx of emigrant activity into the Edmonton, Alberta area. In addition to the 3% growth rate in employment, the real estate market has been enhanced. Currently, Edmonton real estate market boasts housing ideal for families: single-family housing; bungalows and 2 story houses are popular (condominium sales are not very popular). With single family home sales being ahead, compared to condos, there were 842 sales of single family homes during October 2013 (up 11% from last year). In contrast, Edmonton condo sales declined to 413 sales in October (1.4% decrease from last year). Source: http://www.reincanada.com

Find the Right Home

Real estate shoppers must have an idea of what they are interested in purchasing and one recommendation we see a lot of is www.edmontonrealestateguys.com which is owned by realtor www.samireland.ca.  For instance, if a married is planning on building a future together (i.e. children and home business), a medium sized residence that has room for interior upgrades and additional space is ideal. An investor has to consider the bigger picture throughout this type of venture.

Where To Find A Good Home

After the decision to invest in housing has been established, locating the ideal home investment can be challenging. However, there are different avenues available (internet websites, newspapers, and real estate agents). Factors in finding a great home include the locations of property and neighborhoods . Property value will always remain a part of a great home buying decision..

In most cases, real estate buyers tend to prefer finding the property on their own. Fixer-uppers are great for the dreamer. However, if proper inspections are the main concern, it is advised to set up appointment with a licensed real estate agent that has already done most of the work for you.

Price Negotiation

Be wise during price negotiations. Whether there are multiple needed repairs or extra insurance requirement, by adding an extra 10% to 40% to your projected budget is recommended. However, it is still not advised to purchase homes or any residential building that already has structural damage. Slight damage to the interior is acceptable to an extent, however, health hazards must be avoided and the safety of children (if any) is the priority.

As a real estate investor, ensure to communicate with knowledgeable lawyers in order to consult about legal documents and understanding the details of the purchase. Real estate agents appreciate responsible buyers. Moreover, according to demand of Edmonton’s real estate market, on average the price of single family homes sit at $431,000; while the average price of condos reflects the $260,000 price range. Lastly, during price negotiations buyers financial incentives may be available. You should not have to be afraid to ask for help concerning closing costs. Most sellers do consider helping to close the deal.

Conclusively, Edmonton Alberta currently is growing both economically and the real estate market is changing for the better. Finding the perfect location is the challenge that compliments the real estate marketing venture of deciding what type of residence to purchase for the long-run. Information is readily available in advertisements (real estate agencies; newspapers; and internet websites).