How much are your home improvements really worth?
Ask a couple of experts!
In order to assist a client in determining the added value of garage inside access for properties in the $650,000 to $750,000 range in Northwest Mississauga, Marcus Kormann and Alexandra Bremner hit the streets of Meadowvale to conduct a survey. They went door to door to ask homeowners what additional price they would be willing to pay for a home with garage inside access versus a home without garage inside access. With a sample size of 31 respondents, the amount ranged from $0 to $20,000, with an average of $3,854. The response of $20,000 was considered to be an aberration as the next highest amount was $11,000. The range was therefore better represented as between $0 and $11,000.
If you are interested in determining the value of other improvements, please feel free to contact Marcus Kormann or Alexandra Bremner.
Marcus Kormann, AACI & Salesperson
Alexandra Bremner, CRA Candidate Appraiser & Salesperson