Category: House Renovation

8 min read 0

Low property values, high renovation costs create a cycle of closed doors for small-scale rehabbers living in Detroit

  • 30/08/2024
A little more than 25% of housing units in Detroit are vacant—a staggering 92,000 units. For longtime Detroiters bearing witness to this in real time, a number of this magnitude carries complex weight. Few would blame residents for feeling compounded emotions after years of population decline, overtaxation, and foreclosure followed by land bank auctions, property speculation and more than 19,000 residential demolitions. Nevertheless, residents have not succumbed to the overwhelm. Instead they have never stopped trying to acquire and rehabilitate homes and small-scale commercial properties in neighborhoods throughout the city. It’s a fraught with challenges. The reality is that the…
2 min read 0

New Tax Credit Makes Home Renovations More Affordable | News and Media

  • 29/08/2024
Released on December 3, 2020 Legislation for the new Saskatchewan Home Renovation Tax Credit was introduced today, fulfilling the government’s first commitment in the recent election campaign. “This new tax credit will make the cost of home renovations more affordable and will help drive Saskatchewan’s economic recovery,” Deputy Premier and Finance Minister Donna Harpauer said. “It’s part of our government’s plan for a strong recovery and a strong Saskatchewan.” Under this non-refundable tax credit, Saskatchewan homeowners may save up to $2,100 in provincial income tax by claiming a 10.5 per cent tax credit on up to $20,000 of…
3 min read 0

Here’s why the costs of home renovations are rising

  • 28/08/2024
Homeowners planning major renovations this year could face sticker shock. The price of construction and building materials rose 3% in February from a year ago, labor data shows. But some items have skyrocketed. The cost of construction bricks has jumped 25%, while general contractors are charging more amid a shortage of skilled workers, Wall Street Journal reporter Rachel Wolfe told CBS News. “That has led to these projects just dragging out and dragging out,” he said, adding that some Americans are just “living in these half-finished houses among piles of construction debris because there just aren’t enough workers to finish…
4 min read 0

IN FOCUS: ‘It was a nightmare’ – Why are renovations still such a minefield for home owners?

  • 27/08/2024
Altogether, timelines have had to be extended. “Before COVID, a resale flat would’ve taken one-and-a-half to two months, but now we need at least three months,” said Mr Yea. Carpentry used to take seven to 10 days, but now the minimum lead time is 20 days, he added. On the other hand, wages have shot up by 30 to 50 per cent. “Everyone is asking for a higher salary because of supply and demand. There’s a lot of demand but not enough supply.” The price of all materials, such as wood and cement have also risen in the past one…
3 min read 0

Beach house renovation turns Torquay fixer-upper into stylish home

  • 26/08/2024
“We took it all apart.” That was hardly an overstatement. Much of the drab, brick facade was disassembled and repurposed. The floors were lowered and internal walls reconfigured. Nine years later, the new home is barely recognizable as what once stood at 13 Aquilla Avenue. The old kitchen, which featured a fireplace which also opened into the living room. Credits: Domain The fairly average-looking 1980s brick structure became a stylish modern home with what Dunstan said was a timeless street presence and well-manicured garden. “It’s all clad in cypress, it doesn’t change color, it doesn’t need much maintenance,” she said.…
5 min read 0

Government to hand out $25k grants for housing construction, renovations to bolster industry

  • 25/08/2024
The Federal Government will give eligible Australians $25,000 to build or substantially renovate their homes, in an effort to boost demand in the construction sector and keep builders employed. Key points: The scheme will give $25,000 grants to eligible homeowners, but recipients will need to spend at least $150,000 of their own money The Government hopes it will ease a predicted downturn in construction demand Labor and the Greens have called for the Government to invest more in social housing Industry bodies are painting a grim picture of the second half of this year, warning that the economic downturn associated…
3 min read 0

Meet the home owners who renovated a Californian bungalow in Eaglemont during COVID-19

  • 24/08/2024
The stylish home offers no hint of the challenges involved in its upgrade.Credits: Miles Real Estate “Agents said, ‘we can’t take you through because of the lockdowns,’ so in the end we ended up renting a house we’d looked at in January in East Ivanhoe, one we’d initially rejected,” Robyn said . It was difficult picking benchtops online.Credits: Miles Real Estate Their rental was only two kilometers from the Eaglemont home, so the Adams spent their allocated hour of exercise within five kilometers of home walking past to check out the renovation progress. The renovation was completed in late 2021…
4 min read 0

These home renovation projects get the best return on investment

  • 23/08/2024
Home prices have gone up so much that many homeowners have decided to stay put and make their own home better. But even if you’re renovating a home to live in it, it’s still important to know what you can expect to recover from those upgrades and improvements and what will eventually pay off when it comes time to sell. Homeowners who over-renovate a home may not get the cost of the improvements back. For example, it’s not the spa-like bathroom or the magazine-worthy custom kitchen that provides the best return on investment, according to a new report on the…