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Old 2014-01-08, 03:28 PM
Ottawanewby Ottawanewby is offline
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Join Date: Dec 2013
Posts: 4
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Thanks for engaging Selvi.

Yes, I can see that there are benefits to renovating, clearly it adds value to the house. However, the down side of that route is the capital outlay, the risk we would take on in terms of finding the right contractors (and supervising them), and the time involved in seeing the renovations through.

One aspect is my own time that could be spent elsewhere, the second aspect is what I call 'bubble' risk. Much talk about Canadian real estate being in a bubble, and from some very authoritative sources (e.g., The Economist, Nouriel Roubini). This risk would suggest that selling as soon as possible would be the prudent strategy.

What do you think Selvi?
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