Question:

Hello Gentlemen:

My parents live in an 80 year old home in Toronto. Other than maintenance, they have not really upgraded the house since they have bought it in 1970. Would you recommend that they replace the wiring in the house before they put it on the market? The basement is unfinished and about 6'-4" high. Would putting a second washroom in the basement be worth it? Could anything else be done to make the house more saleable, keeping in mind that they are seniors on a fixed income.

Answer:

Thank you for your inquiry. You could do one of two things regarding renovations for this older home. The first being you may opt not to renovate and when selling the home to price it accordingly to what renovations need to be done because the money you put into it will not make it worth enough. Second, if you put money into it you have to make sure that you can get the money back on the sale and we recommend you speak with a real estate agent in your area as the market is different in Toronto than in Ottawa. If you are interested let us know what part of the city you are from and we can rec. an excellent agent in that area to assist you with your decision. If you have any more questions please feel free to contact us. Our toll free # is 1-866-858-8326.
Len + Craig

Answered By: Len Huffman and Craig Smith

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