Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [home-renovation]

21 questions
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Is home renovation ever a good investment?

For years I was under the impression that renovating a home was an investment. However, when I look up return on investment for typical home renovation projects, it appears that even the most high-value renovations (kitchens, bathrooms) seem to…
cabbagecalculator
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For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be "good" debt?

This other question is similar, but was referring to a specific renovation/repair (new flooring) that, while expensive ($1500), isn't very expensive – it's feasible to consider saving up for over a short period of time. So, I'm curious: Imagine one…
Chris W. Rea
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Home Renovations are expensive.. Should I only pay cash for them?

Should I save up enough cash to do home renovations, or can I take out a loan? Our house needs a new kitchen floor as the linoleum is actually ripped in some areas, and the wood is exposed... This is going to cost $1500 to fix.. it's going to take…
montyloree
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Should I remodel or buy a bigger house?

My husband and I have two children under 2 years old and have outgrown our current 1400 square foot home. My husband and I both work from home, and we have a day nanny who comes and helps with the kids. All five of us our falling over each other all…
user14476
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What is the preferred way to finance home improvements when preparing to sell your house?

Planning on moving and getting our house ready to sell has been more expensive than I expected. I'd like to get this debt off of credit cards. What's the most cost effective way to do this?
DKnight
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Home Valuation in a Dodgy neighborhood

I own a house and live in what is often pejoratively refereed to as "the hood" (14th most dangerous hood in America according to a recent study). I bought the house because it was cheap and I had just gotten out of college and didn't want to…
rerun
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Quotes for work by a tradesman in the UK: rules for VAT?

If I receive a quote for work from a tradesman, and this quote is supplied as a document (PDF) which does not mention VAT as being either includes or excluded, can the tradesman later say that it didn't include VAT and demand I pay 20% more than the…
oxbow_lakes
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Home Renovation Tax Credit (HRTC) - Can I still claim it even if I pay cash?

Can I still claim the Home Renovation Tax Credit even if I pay cash?
googler
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Refinance for renovation, use 401k? HELOC? Both?

We've decided to remodel our kitchen. For the sake of round numbers, assume I have about 20K in the emergency fund/savings right now. 20K in a stock portfolio, and a MUCH larger amount in the retirement funds (Traditional IRA and 401K), due to being…
enforge
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Financing my parents renovation

What is the best way to help my parents pay to renovate a place, while minimizing the taxes? Parents: Cost of Renovation: ~$70000 Yearly combined income: ~$40000 House value: ~$350000 (Paid off) Living in CA Me: Yearly income: ~$400000 Living in…
user72115
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How is the Home Renovation Tax Credit (HRTC) supposed to be claimed? How does the credit work?

We built a new deck this year and we're expecting to take advantage of the Home Renovation Tax Credit (HRTC). How is it supposed to be claimed? How does the credit work? Would it be claimed on the income tax return, or is there a separate…
Chris W. Rea
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What is my % return on investment for various home renovations upon resale of my house?

For instance, I've heard that there is a minimum 75% return-on-investment ("ROI") on bathroom and kitchen renovations - is that an accurate figure? What about the other rooms in my home? Are there rooms that just aren't worth upgrading? What are…
Nat_Rea
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How to divide investment power between fixed asset and more liquid assets?

My wife and I bought our first home this year. We got a good price and live modestly so our fixed expenses are only about half of our take home income. Due to Canadian mortgage rules we opted to put 20% down to avoid CMHC fees. This set us back…
Myles
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How can I borrow in order to improve a home I just bought?

Let's say I just bought a home for around $200,000. It appears that if I put $25,000 into it in order to improve the parts that need it (furnace, roof, driveway, some basic home renos) I could bring its value up to those on the same street which is…
Octopus
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Understanding the Home renovation tax credit in ontario

I am trying to figure out the home renovation tax credit Does it only apply to the home I live in? If I currently live in a rental property but am allowed to do renovations, can I apply for the credit? What about my investment property? If I do…
Victor123
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