The undeniable logic behind real estate investment as a significant portion of your personal wealth management strategy is so well established that there is likely no need to repeat it here. Short of purchasing a new or additional property, investment in an addition, renovation or other improvement to a property already in your portfolio is simply the best investment you can make.
Perhaps that takes the form of finishing a lower level of a residence to either simply expand the usable space of that home, or to create an income producing element like a rentable suite.
Perhaps that involves updating the primary spaces of the home like kitchens and baths to increase market value as well as enjoyment.
Maybe it is an addition to the home to simply make it more liveable.
In all cases of intelligently planned renovations your return on investment is at least 100% and potentially much more. For example, if you invest say $60,000 in a basement finishing, the value of your property immediately goes up by $60,000 and every dollar of that amount goes straight to equity. If that investment creates a rental income stream the return becomes even greater. You can easily have your property re-appraised or even re-financed after the renovation and prove this to yourself.
Alair Homes has been helping property owners realize exceptional returns on all forms of improvements, to all forms of property for a long time. Our contribution takes 2 forms. Firstly, we deliver an exceptional, value driven and client controlled construction process. That way you get exactly what you want at the best possible price. Secondly, we are available to guide our clients to avoid some common pitfalls and focus their investment dollars on precisely the features that will ensure the greatest returns. Alair Homes has created a completely unique and 100% transparent process that helps our clients make smart, informed decisions regarding every project.
When is the best time to Renovate?
Here in the Okanagan the new home building industry has been bustling for many years with no expected end in sight. One thing that means is, that the best skilled tradespeople are in very high demand throughout the prime summer building season. Some will simply be too busy to accept the somewhat smaller contracts that a renovation, addition or remodeling project represents.
Also, the delivery lead times from quality suppliers of key home improvement elements such as: cabinetry, countertops, flooring and windows, are much longer in summer.
So, the short answer to the title question is: Now! We at Alair Homes Kelowna are of course here to help you with your major renovation projects at any time, but we strongly suggest that we get to it together, before the summer crunch.