Home renovations Burlington
With the housing market “cooling off,” at least that’s how we perceive it after the recent pell mell increases in house prices, many are perplexed with the decision “do I move or renovate?.” Looking at 2017 in the rear view mirror any market may seem sedentary in comparison. As regulatory burdens on new housing increase renovations are becoming a viable option for many looking to fulfil the “wants” list when it comes to their home. Home renovations in Burlington is our focus for today’s blog.
Burlington although possibly not technically counted as the GTA is surely influenced by the same market forces that are at play in the contiguous “Golden Horseshoe.” One of the drivers for housing demand and consequently constantly rising prices is immigration. According to Government stats Canada will receive over 300,000 new immigrants in 2018. Many of these new comers are slated to live in urban centres, Toronto topping the list with Montreal and Vancouver as runners up. This represents a population increase of close to 1% counting all Canada or closer to 2% in these concentrated areas. People need housing and consequently this influx is a contributor to the building boom seen over many years now and the demand and consequent price increases. So how does this factor into a renovation into the Burlington market?
As Toronto grows, so do its suburbs, hence housing has been in steady demand in Burlington. Many homeowners love the established area they are currently in and see a home renovation for their Burlington nest as a good choice. Staying put and renovating your home, although inconvenient in the interim can pay off dividends when all the dust settles. No land transfer tax, legal fees or real estate commissions. The expense of the actual move, the upheaval and the inevitable cosmetic renovations that we need to do in the next home drives us to carefully consider a home renovation. Burlington has the added advantage of mature neighbourhoods with a substantial tree canopy so you can have your “cake and eat it too.” A well executed home renovation in Burlington in the final analysis will likely be a wise investment.
Fil Capuano our president at Chatsworth Fine Homes is one of our companies’ main contacts with clients. We asked Fil what motivates clients home renovations in Burlington projects. Fil offered, “People often love their home and have fond memories of happy family times. You see the notches on the mudroom door witnessing the growth milestones of their children. The neighbours they are fond of and sense of community that has developed over the years. Staying in a place that feels like home seems natural and so many families, once they are over the hump with the mortgage want to ‘spruce the place up” or build a small sunroom addition or a kitchen makeover. Once the numbers are crunched it makes a lot of sense and home renovations in Burlington, given the almost inevitable price increases are a “slam dunk”.
If you are thinking a of a home renovation in Burlington let the Chatsworth team be part of that journey.