Selling Your House? Don't renovate this! Bad investment (2025 edition)

Website: https://www.bradenkoop.ca/
Learn more about Braden Koop Kelowna Realtor on his website or text 250 801 8725

0:00-0:23 Intro
0:23-2:05 Financial pressure and market update
2:05- 2:23 Looking at market conditions
2:23 - 3:18 What to spend your money on
3:18 - 3:33 Outro

Question: What renovations should you focus on before selling?

Understanding our current market: Affordable homes are currently selling faster than ultra-high-end properties. Due to rising costs of labour and materials, extensive renovations may not provide the return on investment they once did. Not to mention Canadians have had a lot of financial pressure put on them over the last year, and although things are moving in a very positive direction, the damage has been done. Buyers are holding their wallets tight, and being very careful how they spend their money.

To maximize your property’s value:

1.) If it ain’t broke, don’t fix it! While most renovations add value, many sellers won’t recoup their full investment when they sell, especially if they’re paying for upgrades at today’s higher costs.

1.) Focus on essential repairs: Update items that are beyond their life expectancy or bring your home up to the average standard of your neighbourhood.

3.) Avoid over-improving: In the current market, going above and beyond with luxury upgrades might not attract buyers willing to pay extra.

By sticking to practical improvements, you’ll position your home more competitively in today’s market. This strategy differs from previous years when luxury upgrades might have paid off, but with current labour and material costs—and buyer affordability concerns—it’s wise to invest thoughtfully.

Get in touch me to get started if you are planning your next sale‼️

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