As with any investment, it is a good idea to always be mindful of the value of your property.
Essentially, that means keeping an eye on market trends. Using available statistics, we can help identify desirable home features and trends.
Staying on top of these trends will help you to understand the value of your home and the types of home renovation projects that are worth a potential investment.
For example, millennials are emerging as the largest demographic of buyers, and they can identify “smart technology” such as newer security systems, smart appliances and fixtures as important features they are looking for in potential properties. Eco-friendly and energy-saving features will also increase buyer interest in today’s market, especially as electrical car chargers become more common, and as climate extremes increase demand for more efficient HVAC systems.
Of course, today’s buyers are still seeking long-term desirables such as upgraded kitchen and bathrooms.
Meanwhile, if you are wondering how your next design or renovation project might affect your home’s market value, just ask – we’d be more than happy to help answer any questions you may have.
Source: ©Morris Real Estate Marketing Group & The Bytown Team