The NARI and National Association of REALTORS® listed which home improvements have the greatest impact on your selling price. This might help you, if you are in the market to sell your Toronto condo or loft.
Not all renovations will give you a 100% ROI (return on your investment). However, upgrades give your property that “wow factor” which will help your condo or loft stand out to potential buyers, and the end result is your unit selling faster and at a higher price. According to the REALTORS® surveyed, a new kitchen, bathroom and wood flooring made the most substantial impact on buyers. Here’s a handy chart that compares a renovation’s estimated cost with the estimated cost recovered when it’s time to sell your unit.
Not every project will give you a 100% return rate, but this doesn’t mean you shouldn’t upgrade your condo or loft. When it’s time to sell, buyers will definitely take notice of your unit and the extra added value.
If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at casey@remaxhallmark.com
Casey Ragan
“Toronto’s Condo Authority”