London, Ontario offers great opportunities for those interested in investing in renovating houses and seeing a return on a sale. You can score a great deal on a fixer-upper, put in some sweat equity and see a nice pay-off on your time and money. Neighbourhoods like the Old East Village and Wortley Village are full of century-old character homes that offer amazing properties that are ready for your renovations and designs, and are quickly becoming hot spots for ambitious homeowners who are interested in modernizing the space and respecting the history of these homes.
When you are deciding on which renovations you’re going to tackle, you need to keep in mind that some renovations pay back more than others. It’s also important to be aware of your neighbourhood’s own local market and make sure that you don’t price yourself out of it. Arecent article on This Old House recounted how a homeowner in a Seattle neighbourhood spent close to half a million dollars on renovations, when the house was only worth $450,000.00 max.
If you are looking for a realtor in London, Ontario who has experience advising homeowners on local markets and renovations, I’m your gal. I keep up on all the market stats for and am familiar with how it relates to the different London, Ontario neighbourhoods and how each one is growing. You want to make sure you are going to see a return on your investment and not get carried away with expensive fixes that won’t pay back. Get in touch with me to learn more about renovations and which neighbourhoods in London, Ontario will give you the greatest return on your time and money.
Stay tuned, because in my next post, I'll take a closer look at the top four renovations that almost always guarantee a return on your investment.