• real estate investment

    Real Estate Investment In Your Home:

    Your home is a real estate investment. I know this has become a cliché that we hear and say at Robert Floris’ Mortgage Architects office in Hamilton. But it’s true! And if it is considered as a real estate investment, and probably the biggest real estate investment you own, we decided to look at renovations as a capital investment. We decided if we are going to write this article, why not look that has the greatest return on our money if we do decide to renovate as a real estate investment. Here is what we came up with:

    Top 6 List:

    6. Landscaping: a 2016 study showed that a proper professional landscaping will provide a 105% return on your capital.

    5. Flooring: it appears hardwood floors not only provide a good return on a real estate investment, but since it covers so much of an area, the values retain themselves.

    4. Fixtures: include many things like a minor kitchen renovation (re-facing of cabinets), electrical fixtures, trim and appliances. This is why local stores like Decore Restore have taken off.

    3. Bathrooms: modern homes are considered to have full baths. As well with all the time and effort us Canadians spend there, they are to be modern and effiicent. This is what homebuyers expect.

    2. Major Kitchen Renovations: although kitchens are considered the highest room in relation to value, many Canadians spend too much to get a proper return. My good friend has a home worth approximately $500,000. His first estimate to renovate came in at $120,000. In proportion to his home value, this seems very high. Make sure the real estate investment will pay off.

    1. An Income Suite: as affordability becomes more difficult in the housing market, Canadians are being smarter. They are renovating the basement to income suites. What better way than to have the basement pay for itself and help the owners with cash flow? This is undoubtedly the best real estate investment you could make in your home.

    Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

    If you would like to apply for a mortgage online, please follow this link.

    If you would like to see our Google reviews or leave one yourself, you can do so here.

    Thanks for reading!

%d bloggers like this: