Home improvements to
upgrade your living space

And to make some money while you’re at it

Transform your living space

Your home. It’s where you gather with family, celebrate with friends, and begin and end every day. It’s also the most expensive purchase most people make in their lifetime. 

Making certain home improvements or expansions can be a sure-fire way to raise the value of your home, should you choose to sell or rent it. But home improvements aren’t cheap; they can be a huge expenditure that might require a loan. And not all of them pay off to the same extent.

Look at home improvements as more than just beautifying your residence; If you are thinking of home improvements as an investment then you should want to ensure your expenditure is less than quantifiable returns you will earn. Like any smart investment, they can pay dividends. It’s important to go in with a plan; that way, you can determine how much it will add to the value to your home, should you plan to sell or rent. Each dollar spent should add more than the dollar in value to the property.

Home Improvement FAQ

Are you new to home improvement? Here are some questions you might be wondering to yourself:

Should we sell or expand?

Deciding whether to sell your home and move or build on additions, boils down to two factors: return on investment (ROI) and personal needs. For ROI, you need to think about a few factors:

  • What is the general worth of homes in the neighbourhood?

  • Is my house in sellable condition?

  • What will an extra bedroom, family room, etc. do to the market value of my house?

  • Can the people that I hired (to do repairs/additions) do their job well?

Once you weigh those options, you have to think about your family’s needs. Will you find friends in another neighbourhood? Will more space give you room to do the things you want to do? Where will we be most happy?

It’s also important to note that, when you purchase a new property, you always pay more than just the asking price and need to factor that into your calculations. There are several taxes and legal fees that need to be paid, and sometimes, you’ll still need to do some fixing up (even if it’s a new place). These things must also be taken into consideration.


What improvements should we spend on?

Home improvements are a big expense, so you want to make sure you’re getting a decent return on investment (ROI) out of them. The first thing you should always invest in is home maintenance. A newly finished bathroom or kitchen isn’t going to help sell your house if your roof leaks. Make sure you keep priorities.

Curb appeal, or how your house looks from the outside, is also a major selling factor. As for things like granite countertops or marble floors, those work well so long as they’re marketable in your neighbourhood.

We’ll explain that in this next section.

Is there such a thing as over-improvement?

Yes, there is. Unless your area is going through a complete economic revival, don’t try to have the fanciest house on the block. You will find (all too quickly) that the return on investment (ROI) will suffer. No matter how much you improve your home, there may always be a glass ceiling created by the neighbourhood.

Taking out a loan for home improvement

If you’re serious about treating home improvement as an investment, taking out a loan may be for you. Even small repairs can mean a massive boost for the overall worth of your home. But please remember, if your intent is to treat it as an investment, then the projected increase in value needs to be greater than the cost of a loan.

We offer home equity loans that allow you take out a loan based on your equity in the home.  (Market Value – Loans = Your Equity)

If you don’t know the right one for you, talk to our representatives. They’ll be able to help find the right loan solution for you.

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