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CENTURY 21 Executives Realty Ltd.
Nancy Venditello Nancy Venditello
Sales Representative
CENTURY 21 Executives Realty Ltd.
2907 32 Street
Vernon, BC V1T 5M2
Office: 250-549-2103
Direct: 250-938-4725
Toll Free: 1-877-227-4073
Toll Free: 1-877-227-4073
nancy.venditello@century21.ca
www.century21.ca/nancy.venditello

Did you know that only some renovations will get you more money when you sell?

Many people when planning to sell their home go through an update and/or renovation. You don't always get your money out of every renovation when you sell. The graph below gives you the average cost compared to the return on the investment of that renovation. Estimates are done based on a sale directly after the renovations complete. 

PROJECT

ESTIMATED COST

% RECOVERABLE (on Sale)

Add a full bath:

$2,000 - $5,000

 

  To a 1 bath home

(in existing space)

150%

  To a  1 1/2 bath home

 

60%

Add a bedroom

$2,500 - $6,000

 

 

(existing space)

 

 

$10,000 - $15,000+

 

 

(add on space)

 

To 2 bedroom house

 

120-150%

To 3 bedroom house

 

40% - 60%

Add a garage

$7,500 - $15,000

150%

Add a fireplace

$1,500 - $3,000

50%

Finish basement – rec room

$10,000 - $25,000

100%

+ bedroom + bathroom

 

 

Install central air

$2,500 – $4,500

Up to 50%

Repaint frame house

$2,000 - $5,000

300%

Install new exterior siding

$3,000 - $8,000

200%+

Reshingle roof

$3,000 - $8,000

50%

Landscape

$1000 - $4,000

80%

Add a pool (in ground)

$20,000+ 

50%

New Kitchen

$6000-$15,000

Up to 150%

New Flooring

$3000 - $8,000

150%-200%

All figures are approximations.  Individual quotes may differ.

 

Okanagan Shuswap Homes for sale are getting more expensive....Thanks Alberta

Houses for sale in the Okanagan, Shuswap are getting more expensive, there are less houses to look at and they are selling faster. The best way to figure out what is actually going on is to look at running averages. That means that we look at the most recent 12 month average of any given statistic and compare it to the preceding 12 month period. When we look at the Okanagan, Shuswap together, the average median sale price in the last 12 months is up about 4% compared to the previous 12 months. The average number of monthly transactions is up about 20%. The inventory is down 14% and the absorption is up about 15%. It is an understatement to say we are in recovery. But where are these buyers coming from? In the last year there has been a significant increase in buyers from Alberta. Most of us noticed the increase in orange and white licensed plates this summer. In fact the percentage of buyers from Alberta is up about 6% in the last year. That is significant because the percentage from all other buyers has to be down 6% in comparison. Our neighbours to the west are booming and they are looking to warmer climates. We are happy to oblige. 

 

North Okanagan Residential Stats

YTD Residential Sales

 

August, 2014

July, 2014

June, 2014

August, 2013

2013

2014

% change

Sales

110

114

122

88

 

 

 

Inventory

615

618

630

706

 

 

 

Absorption

17.89%

18.45%

19.37%

12.46%

 

 

 

Median Price

$347,500

$352,000

$369,950

$381,250

528

738

39.77%

 

Click here for the statistics from the rest of the Okanagan.

 

Ask me about our complimentary moving van.

 

 
 
 
 
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Nancy Venditello

Nancy Venditello

Sales Representative
CENTURY 21 Executives Realty Ltd.
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