Terry Paranych Real Estate Group Blog - Renovating

Choosing Renovations Based on Buyer Demographics

Regarding home renovations, it's easy to fall into the trap of choosing projects based purely on personal preference or trending designs. However, if you’re looking to sell your home—or simply want to maximize its value—it’s smarter to make renovation decisions based on who your likely buyers will be. Different generations, income levels, and family sizes value different features. Choosing renovations based on buyer demographics can significantly boost your return on investment (ROI) and make your home more appealing.

The Importance of Renovations Based on Buyer Demographics

Understanding the types of buyers who are most likely to be interested in your home helps you prioritize upgrades that matter to them. Millennials, for example, are the…

492 Views, 0 Comments

Smart Home Upgrades to Enhance Organization and Efficiency

Technology simplifies daily routines. It eliminates unnecessary steps, reduces waste, and helps maintain a structured environment. Many homeowners embrace automation to make their spaces more manageable, not to mention add value to your property. Smart home upgrades provide solutions that cut down on repetitive tasks while increasing productivity. With a well-integrated system, tasks complete themselves without constant supervision. This approach enhances efficiency and keeps clutter under control.

Smart Hubs: The Brain of an Organized Home

A smart hub connects all devices in one place. It manages schedules, automates routines, and integrates different technologies. Voice commands and mobile applications allow users to control locks, lights, and…

255 Views, 0 Comments

Home Renovation Projects with the Lowest Rate of Return

When planning home renovations, it's important to consider how much value the improvements will add to your property. While some projects can significantly boost your home's resale value, others might not provide a good return on investment (ROI). Let’s discuss the renovation projects with the lowest ROI to help you make informed decisions.

Starting Your Renovation

Renovating a home can take a long time and cause disruptions to you and your family’s daily activities. If you can afford it, move out before the renovation begins. You might need help with your belongings and putting away the furniture that might get damaged, and Professional Movers Canada can help you with that. They offer reliable and professional moving services across the…

1064 Views, 0 Comments

The 17 Worst Home Renovations You Can Spend Your Money On

While these 17 home upgrades can certainly improve your family’s overall enjoyment of your home, they may lack on ROI when it comes time to sell.

1. Master Suite Additions

According to the experts, an upscale master suite addition (i.e. walk-in closet addition, large shower, dual vanities and soaker tub, etc.) will set you back approximately $282,062. There’s no denying that a master suite retreat can deliver endless value when it comes to homeowner convenience and comfort. Still, with an average ROI of only 51.6%, you’re not likely to recoup your initial costs. 

2. Costly Carpeting 

Since carpeting is a magnet for dust, germs and stains, many buyers prefer lower maintenance forms of flooring. Even so, if you have carpeting in your home,…

2137 Views, 0 Comments

5 Must-Know Tips For Hiring a Home Renovation Company

Hiring the right contractor is the essential first step to any home renovation project – especially if you hope to save time, money and avoid stressful reno-related problems. Below are our top five must-know tips for choosing the right professional for your next project.

Tip 1= Ask For Recommendations and Referrals 

Of course, you’ll want to hit the web to explore potential contractors, but it is also highly recommended you ask for recommendations or referrals from:

• The RenoMark program (through the Canadian Home Builders’ Association, or CHBA)
• Local building supply chains (i.e. Home Depot or Lowe’s)
• Edmonton’s Better Business Bureau
• Friends or family who have committed to similar projects

From here, you can make a list of…

2377 Views, 0 Comments

Should You Renovate or Sell Your Home?

If you’re stuck deciding whether to sell or stay, you’re not alone. Many people find themselves reluctant to give up the home they’ve loved and appreciated for so many years, even if it no longer meets their needs. For this reason, homeowners may opt to renovate, in an attempt to get their current property to better suit their lifestyle. 

But are renovations really worth the cost and effort? Here are a few things to consider:

Renovation vs. Down Payment Costs 

According to the experts, most Canadians plan to spend at least $10,211 to renovate their homes. Of those choosing to renovate, nearly 40% go over budget, with average costs ranging anywhere from $10 to $60 per square foot (i.e. a 1,600 square foot home x $10/square foot = $16,000).

…

2045 Views, 0 Comments

The Top 3 Home Renovations That Will Bring You The Most Money

Whether you’re thinking about putting your home up for sale or simply looking for ways to improve its overall value, these top 3 renovations will deliver the biggest bang for your buck:

Kitchen Renovation and/or Update 

While kitchen renovations can be among the most expensive, they also carry the healthiest ROL.

ROI = 75-100%

Average Cost:

Smaller Renovation (i.e. fresh paint, refinishing cabinets upgrading hardware and a new backsplash) = $13,049 – $19,574

Larger Renovation (custom cabinetry, granite countertops, hardwood flooring and high-end appliances) = $40,000 and up

Budget Recommendation = 5-15% of your home’s overall value

Tips For Saving On Your Kitchen Renovation:

• Opt for Stock Instead of Custom – For instance,…

1268 Views, 0 Comments

6 Simple Renovations to Make Before Selling

When it comes to renovations or upgrades, bigger isn’t always better – especially if you’re thinking about selling. Not only are major changes expensive, but they can also turn buyers off. Instead, we recommend concentrating only on areas that will deliver the biggest bang for your buck (and won’t cost an arm and a leg). Here are our top suggestions:

1. Apply New Paint

A fresh coat of paint is the single most (affordable) renovation you can make to attract buyers. Not only will it help your home look fresher and brighter, it’s also a great way to mask imperfections. Keep it neutral, though. Whites, beiges and light greys will be much more effective than dark or bold colours.

2. Improve Energy Efficiency

When buyers hear “energy efficient”…

757 Views, 0 Comments