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smart upgrades on house

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hey peeps.....I am looking for your personal and professional opinions here.

On a 2200 sq ft house, which one of these options is better for resale value:
  1. 4 bedrooms (three bedrooms w/ walk-in closets), 2.5 bathrooms (w/ double sinks & master has whirlpool and super shower), pantry in kitchen, walk-in closet by mud-room, only laundry in unfinished basement
  2. 3 bedrooms (only master has walk-in closet), 1 loft on second floor, 2.5 bathrooms ((w/ double sinks & master has whirlpool and super shower), pantry in kitchen, only laundry in unfinished basement
  3. 4 bedrooms (only master has walk-in closet), 3.5 bathrooms (no double sinks, no whirlpool in master, super shower in master), extra family room on the second floor, only laundry in unfinished basement
  4. 4 bedrooms (only master has walk-in closet), 2.5 bathrooms ((no double sinks, whirlpool in master), extra family room on the second floor, only laundry in unfinished basement
They all come with great room, kitchen, porch, foyer, breakfast area, kitchen island, and double car garage.
 
Before you get into the specifics of the property itself, the most heavily weighted factor when it comes to resale value in Toronto is location. Pick the optimal location first, then consider the building features.

Now all that said, to keep it as simple as possible, and with all things equal when it comes to location, the highest resale value will typically be the layout that is most "standard" for that neighborhood. If I had to guess, without knowing specifics, it's likely that option #1 would be the most desired layout.
 
Kitchener? So you are likely buying into what I believe is a growing bedroom suburb with a burgeoning manufacturing and tech base? (I think.)

James gives good advice as to considering what surrounds the property. But, based on what I have seen in other burbs, people start off modestly with what they can afford and then, over the years, start upgrading.

SO, ask yourself, in 5-10 years ...

Who would move there? Large families from other cultures or the standard two parents-two kids?

What would they be able to afford? Would they look at your house and admire the fancy kitchen but opt for the cheaper by $30K place down the block?
 
Thanks ex Montreal girl.

The main reason I am looking at Kitchener is for the price compare to Toronto. I am living in a condo in uptown area In Toronto. My condo is selling for almost the same price as a 3 bedroom detached house in Kitchener.
I have a child and I am looking to upside with backyard and all what a house can provide. Most of my co-workers that work in DT Toronto don't live in Toronto. They live in Milton, Brampton, Kitchener, and etc. In order to provide a house for my family I can either wait several more years or until I can afford it and continue to live in a small condo, or go outside of Toronto.

What are your concerns about Kitchener? Mainly I am looking to buy to live and might not looking to sell it within 5-10 years.

Thanks
 
My advice then is to buy in the absolute best location, a detached house, preferably in the new urbanist style with garage at the rear but with a PRIVATE drive (no rear alleyway) and close but not on a main artery. If you have to skip the upgrades and add them later, then do that. Put your money in the location and the building type.

That kind of house will appreciate much faster because it encourages neighbourhood. No hiding front doors behind giant garages so you never see your neighbours. Neighbours are good. They make for a better quality of life, and a safer community. Neighbours do things, like street BBQs. Neighbours also have kids who can babysit your kids or vice versa.

Also a better house will appreciate because it's a better house in a better location, surrounded by better houses where people, usually young families, will make improvements over the years as they can afford them.

Finally, be near a main artery so that there is some walkability, however minimal. Maybe your kid will want a summer job at the local pizzeria. Or you can send one of them for a quart of milk, either by foot or by bike. Whatever. Again, quality of life.

Moving from a condo in the city to an area where you will find yourself getting into your car all the time -- and spending every other weekend at Home Depot or mowing the lawn -- is gonna be a big shock. Good luck with that. If it were me, and I wouldn't do it, especially if it also means long commutes. How much quality time will you spend with your children? A house in the suburbs may provide a backyard and more space but what else?

That's just my opinion based on my lifestyle preferences.
 
I'm not too familiar with Kitchener but with the suburbs convenient major highway access is important. In Kitchener's case, proximity to the 401. Re: floor plan. I personally don't care for a WIC outside the master bedroom. I would like double sinks in the master ensuite. I believe the trend for new build detached homes are for the laundry to be on the main floor or top floor for convenience.

I initially thought you would be moving to Kitchener and subsequently be working there. Kitchener-DT Toronto 5x a week is going to be tough especially during rush hour. While I do work with many who live in the GTA (Missisauga, Brampton, Markham, Pickering) I only know few who live outside it and work downtown. A colleague lives in Guelph and leaves their home at 530am to ensure an 8AM arrival. That's really rough. Kitchener is quite far vs locations in the GTA with typically a distance less than 60km one way.
 
condosearch said:
I'm not too familiar with Kitchener but with the suburbs convenient major highway access is important. In Kitchener's case, proximity to the 401. Re: floor plan. I personally don't care for a WIC outside the master bedroom. I would like double sinks in the master ensuite. I believe the trend for new build detached homes are for the laundry to be on the main floor or top floor for convenience.

I initially thought you would be moving to Kitchener and subsequently be working there. Kitchener-DT Toronto 5x a week is going to be tough especially during rush hour. While I do work with many who live in the GTA (Missisauga, Brampton, Markham, Pickering) I only know few who live outside it and work downtown. A colleague lives in Guelph and leaves their home at 530am to ensure an 8AM arrival. That's really rough. Kitchener is quite far vs locations in the GTA with typically a distance less than 60km one way.
Click to expand...

I forgot to mention that I do plan to move to find a job in Mississauga or London as my next career move as my employer has locations on that area as well. I am not planning to stay to work in downtown Toronto.
The property will be located at Fischer-Hallman Rd and Huron Rd on Kitchener. What do guys think of this location?
 
If your set with Kitchener, then find the best location in Kitchener, 'nice' neighborhood, large lot, not crowded, able to walk to amenities, three bedroom minimum......and you will get good value later when you sell. A family member is on his second house there, and has done very well market value wise.
 
Dal Kury said:
If your set with Kitchener, then find the best location in Kitchener, 'nice' neighborhood, large lot, not crowded, able to walk to amenities, three bedroom minimum......and you will get good value later when you sell. A family member is on his second house there, and has done very well market value wise.
Click to expand...

May I know which neighborhood that your family member bought? The one that I am looking for is on Huron Rd and Fischer-Hallman Rd. What do you guys think?
https://www.google.ca/maps/place/Se...2!3m1!1s0x882c0a9ad615c48f:0x7476efbf0a00d4a1
 
I would suggest to clean the place well and remove as much clutter from it. Then your house will look as good as it is!
 
As someone mentioned above, consider who will be driving demand in the K/W area over the next 10 years. With the rapidly growing tech industry gaining momentum in the area, K/W is sure to attract more than its fair share of young, creative professionals and the families that they form together. Those people aspire to live in walkable areas with access to dining and entertainment options. You can see what's happening over by Facebook, Google and Communitech. New businesses are occupying the existing retail infrastructure there to provide lunch and after work food and drink options for the neighbourhood's highly paid employees.

If your budget allows it, I suggest you find a location that is walkable to King St. or another area where the infrastructure is in place for premium retail and entertainment options to occupy in the future as the area grows. Ideally, find a location where the school district is already pretty good.

Incidentally, while we're on the subject of renovations, my company (a real estate search engine for the 21st century - still in start-up mode - launching in the late spring) has published a couple of simple infographics on our blog about renovations that might have some interesting data for you. I will say that our survey audience was Toronto-centric so the results may not apply 100% to the K/W area but I believe that they will directionally, at least.

The first is a quick look at the 5 most common home features that buyers are looking for today:
http://www.wishpad.ca/what-toronto-homebuyers-want/

The second shows the disconnect between buyers' desire or need to renovate and their ability to identify good homes to renovate. Towards the bottom, though - what might be more relevant to you - we've looked at a couple of home features that are high in demand but are atypical for an unrenovated home in an old neighbourhood (like most of Toronto.)
http://www.wishpad.ca/torontos-reno-dilemma/
 
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