Investing in your home’s first impression

Spring is here and the Hamilton market is definitely hot.

Around this time of year, many homeowners start sprucing up their properties to list them for sale. One thing that I always tell friends and clients is that you can’t underestimate the value of a first impression when it comes to your house.

Just like when you meet someone for the first time, that initial feeling you get when you see a property tends to stick with you, too. For many, if not all buyers, purchasing a home is an emotional transaction and you should always present your property to make the best impression possible.

Now, there are many things you can do to achieve this. Some are costly, others not as much.

I find a good resource to look at when making these decisions is Remodeling magazine’s annual Cost vs Value report. Yes, I know this is an American publication and I’m an advocate that housing markets are local (in some cases, hyper local, i.e., block to block not just the neighbourhood as a whole.) But this report – which compares the cost of many home improvement jobs with what realtors predict the value from those improvements will be – is a decent benchmark. If at the very least to get ideas about what’s happening in other markets and see if that makes sense in your situation. Also, the value of many improvements noted in the report, such as a new roof or window upgrades, are pretty universal.

For ease, we’ve drilled into the report and pulled out a few improvements that were on the upward swing from 2014 to 2015. Enjoy!

cost vs value 2015

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