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Questions tagged [home-renovation]

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2
votes
1answer
92 views

Home appraisal ROI: changing floors

I know that homes in the US usually are appraised at a higher value if they have hardwood or laminate floors instead of carpet, so I recently removed all the carpet I hac downstairs and replaced it ...
3
votes
1answer
99 views

Financing my parents renovation

What is the best way to help my parents pay to renovate a place, while minimizing the taxes? Parents: Cost of Renovation: ~$70000 Yearly combined income: ~$40000 House value: ~$350000 (Paid off) ...
4
votes
1answer
129 views

Refinance for renovation, use 401k? HELOC? Both?

We've decided to remodel our kitchen. For the sake of round numbers, assume I have about 20K in the emergency fund/savings right now. 20K in a stock portfolio, and a MUCH larger amount in the ...
-1
votes
1answer
62 views

Finding an Investor for Rental Property Renovations?

Is it possible to find an investor who would want to invest in renovating a rental property, without taking an interest in the property itself, but would expect returns when the property is sold at a ...
-3
votes
1answer
80 views

Can I get a tax break while renovating a house that is being auctioned?

Looking at a Homepath home that needs a major rehab, the house is a cash only deal, and all fixed up might be worth a decent amount of money ( 200 k or so ) but it's being sold for 60k in the current ...
2
votes
2answers
129 views

How can I borrow in order to improve a home I just bought?

Let's say I just bought a home for around $200,000. It appears that if I put $25,000 into it in order to improve the parts that need it (furnace, roof, driveway, some basic home renos) I could bring ...
0
votes
1answer
295 views

$10,000 to invest in the house - Pay down principal or spruce up to increase appraisal?

Hypothetical but not totally unrealistic situation: Looking at recent comparables (and non-comps like smaller homes or fewer amenities), the value of homes in my neighborhood have increased ...
2
votes
0answers
79 views

Understanding the Home renovation tax credit in ontario

I am trying to figure out the home renovation tax credit Does it only apply to the home I live in? If I currently live in a rental property but am allowed to do renovations, can I apply for the ...
3
votes
4answers
230 views

How to divide investment power between fixed asset and more liquid assets?

My wife and I bought our first home this year. We got a good price and live modestly so our fixed expenses are only about half of our take home income. Due to Canadian mortgage rules we opted to put ...
8
votes
2answers
2k views

Should I remodel or buy a bigger house?

My husband and I have two children under 2 years old and have outgrown our current 1400 square foot home. My husband and I both work from home, and we have a day nanny who comes and helps with the ...
6
votes
3answers
16k views

Quotes for work by a tradesman in the UK: rules for VAT?

If I receive a quote for work from a tradesman, and this quote is supplied as a document (PDF) which does not mention VAT as being either includes or excluded, can the tradesman later say that it didn'...
7
votes
5answers
235 views

What is the preferred way to finance home improvements when preparing to sell your house?

Planning on moving and getting our house ready to sell has been more expensive than I expected. I'd like to get this debt off of credit cards. What's the most cost effective way to do this?
6
votes
3answers
162 views

Home Valuation in a Dodgy neighborhood

I own a house and live in what is often pejoratively refereed to as "the hood" (14th most dangerous hood in America according to a recent study). I bought the house because it was cheap and I had ...
22
votes
4answers
2k views

Is home renovation ever a good investment?

For years I was under the impression that renovating a home was an investment. However, when I look up return on investment for typical home renovation projects, it appears that even the most high-...
5
votes
1answer
237 views

Home Renovation Tax Credit (HRTC) - Can I still claim it even if I pay cash?

Can I still claim the Home Renovation Tax Credit even if I pay cash?
12
votes
5answers
4k views

For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be “good” debt?

This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consider saving up for ...
3
votes
2answers
383 views

How is the Home Renovation Tax Credit (HRTC) supposed to be claimed? How does the credit work?

We built a new deck this year and we're expecting to take advantage of the Home Renovation Tax Credit (HRTC). How is it supposed to be claimed? How does the credit work? Would it be claimed on the ...
9
votes
5answers
2k views

Home Renovations are expensive.. Should I only pay cash for them?

Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is ...
3
votes
3answers
496 views

What is my % return on investment for various home renovations upon resale of my house?

For instance, I've heard that there is a minimum 75% return-on-investment ("ROI") on bathroom and kitchen renovations - is that an accurate figure? What about the other rooms in my home? Are there ...