meliz
08-20-2003, 08:56 AM
Found this article today and its pretty interesting... Seems the kitchen's where its at:
TORONTO, March 18 /CNW/ - Canadian homebuyers overwhelmingly consider the kitchen to be the most important room when deciding on a home purchase, according to a survey of Canadian real estate agents, released today by Delta Faucet Canada. The survey discovered that 88 per cent of real estate agents identify the kitchen as the room primarily looked at by homebuyers, followed by living rooms, master bedrooms and bathrooms.
"As well as looking for ways to help sell their homes, more and more Canadians are looking for the best way to increase their home equity, and they want to know where to put their renovation dollars to do that," says Bob Linney, strategic communications manager for the Canadian Real Estate Association (CREA). "Delta's research shows that the renovations that pay back are kitchens and bathrooms."
There are many reasons Canadian homeowners decide to renovate. Primarily, it is to create comfort and function, but renovations should also add value to the home. The survey showed 77 per cent of residential real estate agents and REALTORS believe renovating the kitchen and/or bathroom provides the best dollar for dollar return on investment to a home.
"With the increase in number of people using home inspectors, it's clear that buyers want to know if the inner workings, such as plumbing, are in good shape," says Karen Marshall, director of marketing, Delta Faucet Canada. "They will turn on the taps and flush the toilets to ensure functionality, so it's important to make sure everything is working properly."
Interior designers agree with real estate agents and REALTORS that kitchens and bathrooms are the place to get the most value for a dollar. They also suggest these types of renovations and upgrades in newly purchased homes, to make the space more functional for the family and add a complementary look throughout.
"Because kitchens and bathrooms are used by everyone in the home, they tend to have the highest traffic and in turn, a lot of wear and tear," says Jacqueline Glass, interior designer, Jacqueline Glass and Associates. "This is why they should be the first rooms to consider when renovating. Keeping them updated not only adds monetary value to the home, but also makes the space more enjoyable for family and friends, making the value of the renovation to new and older homes that much greater - it's a win-win investment."
Linney concurs and adds that homeowners looking to sell in the next few years also need to consider every possible option to make their property stand out in the marketplace. "Renovations can increase home equity and could mean a better chance for resale over the competition. Even small changes, such as updating the faucets and fixtures in a room, can add great value to the home."
In addition to resale and home equity, REALTORS say the main reasons for undertaking home renovations are to make the space more comfortable for the family (73 per cent) and to make the space more functional (57 per cent).
"By updating simple things in the kitchen, such as adding a high arch or pull-out faucet, the food preparation area becomes more usable and convenient," says Glass. "Renovations don't have to cost a fortune. With the wide selection of faucets and fixtures available on the market, there's something for everyone, at every price range."
The study, conducted by Pollara and sponsored by Delta Faucet Canada, is based on interviews conducted with a random sample of 803 full-time residential real estate agents during the month of November 2002. The results of the sample are accurate to within กพ 3.5 per cent.
TORONTO, March 18 /CNW/ - Canadian homebuyers overwhelmingly consider the kitchen to be the most important room when deciding on a home purchase, according to a survey of Canadian real estate agents, released today by Delta Faucet Canada. The survey discovered that 88 per cent of real estate agents identify the kitchen as the room primarily looked at by homebuyers, followed by living rooms, master bedrooms and bathrooms.
"As well as looking for ways to help sell their homes, more and more Canadians are looking for the best way to increase their home equity, and they want to know where to put their renovation dollars to do that," says Bob Linney, strategic communications manager for the Canadian Real Estate Association (CREA). "Delta's research shows that the renovations that pay back are kitchens and bathrooms."
There are many reasons Canadian homeowners decide to renovate. Primarily, it is to create comfort and function, but renovations should also add value to the home. The survey showed 77 per cent of residential real estate agents and REALTORS believe renovating the kitchen and/or bathroom provides the best dollar for dollar return on investment to a home.
"With the increase in number of people using home inspectors, it's clear that buyers want to know if the inner workings, such as plumbing, are in good shape," says Karen Marshall, director of marketing, Delta Faucet Canada. "They will turn on the taps and flush the toilets to ensure functionality, so it's important to make sure everything is working properly."
Interior designers agree with real estate agents and REALTORS that kitchens and bathrooms are the place to get the most value for a dollar. They also suggest these types of renovations and upgrades in newly purchased homes, to make the space more functional for the family and add a complementary look throughout.
"Because kitchens and bathrooms are used by everyone in the home, they tend to have the highest traffic and in turn, a lot of wear and tear," says Jacqueline Glass, interior designer, Jacqueline Glass and Associates. "This is why they should be the first rooms to consider when renovating. Keeping them updated not only adds monetary value to the home, but also makes the space more enjoyable for family and friends, making the value of the renovation to new and older homes that much greater - it's a win-win investment."
Linney concurs and adds that homeowners looking to sell in the next few years also need to consider every possible option to make their property stand out in the marketplace. "Renovations can increase home equity and could mean a better chance for resale over the competition. Even small changes, such as updating the faucets and fixtures in a room, can add great value to the home."
In addition to resale and home equity, REALTORS say the main reasons for undertaking home renovations are to make the space more comfortable for the family (73 per cent) and to make the space more functional (57 per cent).
"By updating simple things in the kitchen, such as adding a high arch or pull-out faucet, the food preparation area becomes more usable and convenient," says Glass. "Renovations don't have to cost a fortune. With the wide selection of faucets and fixtures available on the market, there's something for everyone, at every price range."
The study, conducted by Pollara and sponsored by Delta Faucet Canada, is based on interviews conducted with a random sample of 803 full-time residential real estate agents during the month of November 2002. The results of the sample are accurate to within กพ 3.5 per cent.