Purchasing a home in Brampton is actually serious. Home costs are higher in the 9th most populous urban area of Canada. Because of higher population as well as proximity to Toronto metropolitan area, Brampton has actually seen an exponential growth in real-estate costs.
If you are interested in buying a home in Brampton, you must consider different costs such as mortgage, insurance, repairs and maintenance. You may want to buy a new home because you like the feel of a brand new property. According to thestar.com, Brampton home prices rose by 17 percent in 2016.
Acquiring an Old Home Makes Sense
When you desire to create a real-estate investment, think about outdated homes due to the following explanations:
There are many young and first-time home buyers in the city. And, if you are a first-time buyer who is looking for affordable options, an old home can be the right choice for you.
It means you do not have to spend money on buying refrigerator, stoves, air conditioner, etc.
· If you buy a brand new home, you will have to spend money on enhancing the curb appeal of the property. If you buy an old home, you will be able to avoid the cost.
People prevent purchasing an aged home considering that they are actually worried about its condition. They believe that upgrading the home to match their standards is an expensive task. The reality is different. You can easily look at restoring your home perfectly with the help of a knowledgeable home renovation professional. He will certainly comprehend your demands as well as help you in creating your dream home.
Do not make a swift hiring decision. Before hiring any contractor, consider the following tips that will make renovating your old home in Brampton a piece of cake:
· Harmonized Sales Tax (HST).
It is a consumption tax that is not applicable on the sale of a new home in Brampton. However, if you undertake the work of renovating your home substantially, you will have to pay HST. According to the Canada Revenue Agency, substantial renovation work involves repairing or replacing 90% or more of the interior of your home.
An experienced home renovation contractor will have knowledge about the rules related to HST. He will help you in avoiding the tax by showing you ways of minimizing the renovation work. So, do not make the mistake of hiring an amateur contractor because it will result in an expensive deal in the future.
· Mature Neighborhood Provisions.
There are several old neighborhoods in Brampton. And, the City Council wants to protect their unique identities. In September 2014, it introduced several new standards to ensure that any change to a home in a mature neighborhood is consistent with unique character of the area. So, if your home is near Bovaird Drive, Dixie Road or any other mature neighborhood, it is important to consult an experienced home renovation contractor. He will inform you about the different rules of renovating your home. Also, he will help you in obtaining the site plan approval from the Planning Department of the city.
· Building Permits.
It is better to contact a home renovation contractor who has experience of working in Brampton. Consult someone who understands the laws of the city. It will help you in obtaining relevant permits from the City of Brampton. If you undertake any kind of renovation work without the permission from the Building Division of Brampton City, you will have to pay hefty fines.
An experienced home renovation contractor is necessary to inform you about the renovation projects that do not require permit from the local government. If you undertake the renovation work on your own, you will not know whether you require a permit for it. It can create confusion and waste your precious time.
If you hire a good and experienced home renovation contractor, you will not face any trouble in upgrading the home and making it new. Instead, make a smart decision of buying an old home.
If you are interested in renovating your old home and making it new, consult The Home Improvement Group. We offer home renovation services in Brampton as well as other areas of GTA. Hire us for the best kitchen renovation, basement renovation and bathroom renovation services.
You can consider renovating your home beautifully with the help of an experienced home renovation contractor. If your home is near Bovaird Drive, Dixie Road or any other mature neighborhood, it is important to consult an experienced home renovation contractor. It is better to contact a home renovation contractor who has experience of working in Brampton. If you JPPV hire an experienced and good home renovation contractor, you will not face any trouble in upgrading the home and making it new. If you are interested in renovating your old home and making it new, consult The Home Improvement Group.