{"id":9635,"date":"2018-07-11T15:15:27","date_gmt":"2018-07-11T22:15:27","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=9635"},"modified":"2018-07-01T09:03:12","modified_gmt":"2018-07-01T16:03:12","slug":"kitchen-renovation-has-the-potential-to-increase-a-homes-selling-price-by-more-than-12-5","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/07\/kitchen-renovation-has-the-potential-to-increase-a-homes-selling-price-by-more-than-12-5\/","title":{"rendered":"Kitchen Renovation Has The Potential to Increase A Home&#8217;s Selling Price by More Than 12.5%"},"content":{"rendered":"<p style=\"text-align: justify;\">For Canadian homeowners looking to boost their property value, a kitchen renovation is the best way to gain the most bang for your buck.<\/p>\n<p style=\"text-align: justify;\">According to a new Royal LePage survey, upgrading a kitchen is considered the top home improvement project, as it has the potential to increase a home\u2019s selling price by more than 12.5%.<\/p>\n<p style=\"text-align: justify;\">The poll surveyed 766 Royal LePage real estate experts across Canada, between June 20 and June 25, 2018.<\/p>\n<p style=\"text-align: justify;\">While a kitchen reno was rated as the top home improvement project, both a finished basement and a new bathroom ranked second. These upgrades have the potential to increase a property\u2019s value between 2.5% and 12.5%, depending on the investment.<\/p>\n<p style=\"text-align: justify;\">\u201cTo financially benefit from a home improvement project, you need to keep potential homebuyers in mind,\u201d says Tom Storey, Royal LePage Signature Realty real estate agent, in a statement published today.<\/p>\n<p style=\"text-align: justify;\">\u201cWhile updating a kitchen should increase your sale price, a pool can actually deter families with young children or those who are looking for less maintenance,\u201d he adds.<\/p>\n<p style=\"text-align: justify;\">According to the survey, adding a pool or deck to a home is considered the least favourable renovation for boosting a home\u2019s selling price. These upgrades have limited pricing potential to a maximum of 2.5% of the value of the home.<\/p>\n<p style=\"text-align: justify;\">When deciding between an interior or exterior upgrade, 95% of survey respondents agreed that indoor renovations are the way to go.<\/p>\n<p style=\"text-align: justify;\">\u201cCurb appeal is important but more time is spent indoors at the open house and that is where buyers typically fall in love with a home,\u201d says Storey.<\/p>\n<p style=\"text-align: justify;\">The survey also revealed that prospective sellers are willing to invest less than 2.5% of a home\u2019s value on renovations prior to listing their home. This represents an investment of up to $15,138 on a median-priced property in Canada valued at $605,512.<\/p>\n<p style=\"text-align: justify;\">As for other popular home renos, a basement apartment and eco-upgrades, including windows and heating, both could boost a home\u2019s selling price by less than 10%. In addition, landscaping has the potential to hike a home\u2019s worth by less than 7.5%.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/2018\/06\/increase-homeowners-property-12-5-per-cent.html\" target=\"_blank\" rel=\"noopener\">This Upgrade Could Increase A Homeowner&#8217;s Property Value by More Than 12.5%<\/a> by Kerrisa Wilson | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For Canadian homeowners looking to boost their property value, a kitchen renovation is the best way to gain the most bang for your buck. According to a new Royal LePage &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/07\/kitchen-renovation-has-the-potential-to-increase-a-homes-selling-price-by-more-than-12-5\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-9635","post","type-post","status-publish","format-standard","hentry","category-home-lifestyle"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Kitchen Renovation Has The Potential to Increase A Home&#039;s Selling Price by More Than 12.5% &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/07\/kitchen-renovation-has-the-potential-to-increase-a-homes-selling-price-by-more-than-12-5\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Kitchen Renovation Has The Potential to Increase A Home&#039;s Selling Price by More Than 12.5% &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"For Canadian homeowners looking to boost their property value, a kitchen renovation is the best way to gain the most bang for your buck. 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