Posthaste: A renovated home could help sell your house in this tricky market

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Some home renovations are worth more than others, says a Royal LePage survey

Good morning!“In some niche markets that continue to see multiple offers, we are seeing properties that are renovated, the turnkey properties, especially with renovated kitchens and bathrooms continue to garner a lot of buyer interest,” said Mike Heddle, broker and team leader, Royal LePage State Realty.

The Toronto Regional Real Estate Board said Wednesday that Toronto home prices declined three per cent from March to April. Further, sales slowed 41 per cent year-over-year from last April and were down 27 per cent from March as rising interest rates started to crimp the housing market.Advertisement 4Gussying up your home’s kitchen was the best way to get the most potential return on money spent, according to the experts at Royal Lepage.

Bathrooms, another high-traffic part of every home, placed second on the list of most-valuable home improvements with survey respondents estimating that a new bathroom can add to the value by an average of 16 per cent.Article content

 

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