A home renovation is one of the smartest investments you can make as a homeowner in Toronto. The housing market continues to remain strong, and a decision to renovate your property can provide a fantastic return on your investment. Some of the highest value types of renovations, like a kitchen or a bathroom, can be more expensive than others, so it’s important to be aware of certain factors than can help lessen the impact on your wallet and maximize your return when you decide to renovate your property.
Seasonality is the most important factor, whether you decide to personally renovate your property or hire a contractor. The Spring and Summer seasons are typically the busiest seasons for contractors, and as a result of the high demand, contractors can charge a higher price for their services. If you decide to hire a contractor to renovate your property during the Fall or Winter, you can negotiate a better deal with them due to decreased demand. If you decide to renovate your property when weather like heavy snow may play a factor, be sure to be sensitive to longer deadlines or other weather-related impediments. If you’re undergoing a kitchen renovation, be aware of the fact that your stove and other appliances may be out of commission during this time. In the summer, the presence of a barbeque will make this burden a little easier to bear.
When you decide to renovate your property, you also want to consider the price of building materials. Even if you don’t immediately renovate your property if you purchase building materials for your renovation, pay attention to sales at home renovation supply stores. The holiday season is a common time for sales, but ask your local hardware store when the other best times to find a good price on building materials are. Regardless of whether you decide to hire a contractor or personally renovate your property, it will likely be in your best interest to purchase your own building materials to save money.
Finally, consider the motive behind your renovation, when it comes to planning when you renovate your property. Are you looking to invest in your home for the long term? Or are you looking to do a fast renovation in order to make a quick sale on a property in Toronto you’re trying to flip? Consider that the best time to sell a home is in the spring, and Toronto is no exception. If you’re looking to sell in the spring, a renovation during the Fall or Winter makes the most sense; you’ll complete the renovation fresh in time to have your brand new home showcased to the public. A fast renovation means that your choices will be current and on trend, which increases the likelihood of a faster sale and a higher sale price for your property.
In Toronto, the decision to renovate your property is affected primarily by the seasonality of various factors. Regardless of what time of the year you choose to renovate your property, a renovation is a great investment to make. Keep in mind that you may be eligible for a rebate of up to $24,000 if you conduct a property renovation. Contact the experts at Rebate4U to find out if you qualify.