Whether you've been living in your home 20 years or just moved in, renovations can be a stressful yet exciting time. However, are all renovations created equal? The answer to that question my dear friends is a big fat NO. It's a statistical real estate fact that certain renovations will get you more money at resale or for evaluation purposes then other home improvements. I can also attest to this fact and will show you some great and recent examples of how this is true time and time again.
The three repeated words that seem as obvious as the word itself, Location.
The official definition based on the Merriam-Webster dictionary is “a position or site occupied or available for occupancy or marked by some distinguishing feature”. Therefore, the position of the property, in relation to the area, that has distinguishing features to buyers is what makes the location so important. When one thinks of Beaconsfield South along the Lakeshore or Westpark area in DDO, we associate it with well to-do people or families because there location has prestige and sells well because they are in high demand for wealthy professionals.