return on investment Archives - Page 2 of 2

Should you design your own home renovation in Vancouver?

27 04, 2018

Should you design your own home renovation in Vancouver?

By Vaughn at Flipside Homes|2018-04-23T14:52:33-07:00April 27th, 2018|Renovation Tips|

We all know the simple answer to this question, so let us get it out of the way… No, you should not design your own home renovation in Vancouver. But why not? And how much of a problem could designing your home renovation in Vancouver be? The top 4 reasons you should have a professional design your own home renovation in Vancouver 1. A professional knows the costs of renovations Knowledge and experience go a long way toward creating a home renovation design that fits your budget. That means you could start your project only to find that it is impossible to finish without a lottery win! On the other hand, if you are working with a professional team like the renovation project managers at Flipside Homes, they will make sure your home renovation in Vancouver fits within your budget.

Should you renovate your Vancouver income property?

6 04, 2018

Should you renovate your Vancouver income property?

By Vaughn at Flipside Homes|2018-03-23T08:52:17-07:00April 6th, 2018|Investment Properties|

It is not hard to see the benefits of a Vancouver income property. It's common knowledge around the Lower Mainland that there is always plenty of money to be made in income properties. Yet, it can be hard to know when to put cash into your income property, and when to renovate it. The benefits of renovating your Vancouver income property Renovating your Vancouver income property has an immediate, noticeable financial impact. Renovations will increase the perceived value of the property, allowing you to charge a higher rent to reflect the upgrades you have made. A renovation also helps keep long-term tenants happy, especially if the upgrades are ones they have been asking for. For those between tenants, a renovation can make the space appear fresh, drawing new people in. Remember that renovations are not all or nothing, so

Where to splurge and where to save on your Vancouver home renovation

30 03, 2018

Where to splurge and where to save on your Vancouver home renovation

By Vaughn at Flipside Homes|2018-03-21T14:12:07-07:00March 30th, 2018|Renovation Tips|

A Vancouver home renovation can be a lot of fun, but your costs can easily spiral out of control. That is why, if you are working within a budget, it is important to know where to save and where to splurge so you get the biggest bang for your buck. So what are the top savings and splurges to go for? Where to save on your Vancouver home renovation The top place to save on your Vancouver home renovation is with your flooring. There are now many beautiful flooring options that are also affordable. It is also easy to scratch a floor, especially if you have pets or children in the home. Flooring is also generally not a make or break issue for renters and home buyers, meaning splurging on it will not help you with your property value.

Tax tips: How to claim your income property renovation costs

2 03, 2018

Tax tips: How to claim your income property renovation costs

By Vaughn at Flipside Homes|2018-03-15T17:19:12-07:00March 2nd, 2018|Investment Properties|

It is important to know the dos and don’ts of income property renovations. You cannot maximize the return on your investment property without considering taxes. That is why, in preparation for tax season, we are giving you our tips on how to claim the costs of your income property renovation. Our top tips on how to claim the costs of your income property renovation 1. Know what you can claim When it comes to taxes, it is important to know what you are able to claim. One of the main categories you can use to claim the costs of your income property renovations is capital expenses. What are capital expenses? According to the Canada Revenue Agency, they are “renovations and repairs that extend the useful life of your property or improve it beyond its original condition”. For example, if you

Income property renovations Vancouver: Appealing to your buyer

6 01, 2018

Income property renovations Vancouver: Appealing to your buyer

By Vaughn at Flipside Homes|2017-12-15T23:31:55-08:00January 6th, 2018|Investment Properties|

When you are looking to use a house as an income property, appealing to your renter or buyer is key. Renovations can help ensure your place is desirable… but only if you make choices with both high buyer appeal and return on investment. How do you make sure your Vancouver income property renovations meet these two criteria? You follow a simple set of do’s and don’t’s… The Do’s of Vancouver income property renovations Do focus on functionality. Functionality is a high priority for most buyers. Therefore, when you are planning your Vancouver income property renovations, take the time to walk through the house, considering what you would need in the space. Keep an eye on details, such as if there is enough storage space in the house. Trust us that, if a home is functional, it will be much more

Which Vancouver home renovations get the best return on investment?

9 12, 2017

Which Vancouver home renovations get the best return on investment?

By Vaughn at Flipside Homes|2017-12-15T19:32:31-08:00December 9th, 2017|Renovation Tips|

When you’re planning to renovate your home, resale value and the return on your renovation investment should always be a primary consideration for any homeowner. In short, the two best rooms to renovate are the kitchen and the bathroom. But even these rooms need to be planned and budgeted accordingly to make them a wise investment for your property. In order to get the most from every dollar you spend on your Vancouver home renovation, our renovations team created this guide to help you plan your remodel. Vancouver kitchen renovations Kitchens are the hearts of our homes. This is where families spend plenty of time, and the look, layout and features of a kitchen greatly affect our perception of the entire home. That’s why most experts agree that the kitchen is almost always a good investment for a renovation. In