Twenty Twenty Home Improvements Inc.
177 Keyworth Ave, Ottawa, ON K1Y 0E8
basement finishing ottawa ontario
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If you are unaware of the real estate terminologies then you might be wondering what overcapitalisation is. Basically, overcapitalisation refers to an overspend on construction or renovation costs which means the actual cost of a construction/renovation of the property is superior to its real market value. Overcapitalisation is also considered as asset inflation. Confused? Let’s make it simple. For instance, Mr A is planning to renovate his house by remodeling the bathrooms, basement and kitchen; upgrading the living room and bedrooms; adding a porch and swimming pool; installing vinyl siding, fencing front entrance and extending the garden. Mr A decides to use upper end expensive quality materials in the renovation. While doing so, he forgot to consider the real market value and quality of the houses in this area, which was lower than the value of his upgraded house. This is overcapitalisation.
Now the next question is what should be done to avoid overcapitalisation? Simple! When renovators and home builders are planning for home improvements, they must keep in mind some factors which have greater impact on the overall value of the property. For instance, evaluating neighbour’s housing style, demographics of neighbourhood, streetscape, design trends of neighbouring property, and recent resale prices of the homes in the area.
Although generally improvements and renovations add value to a property, it will be wrong to say they will ALWAYS increase its value. The reason is that if renovations and improvements are overdone, without keeping in view the real value of the area where your property is located, you might be overcapitalising your property. This means that your property cost will not equal its market value.
Hence, it is rational that a renovator or home builder is aware of overcapitalisation, and increases the value of the property only to an extent that it can cope up with. Remember, you’ve got to be really careful about overcapitalisation when upgrading or renovating your property.
Often overcapilisation occurs when people are not rational and business minded in their approach. Typically home owners will spend more on fixtures and fittings with the aim to live in the property.
Some cultures often prefer to live in larger homes as status symbols and will opt to spend more on improvements than is the norm in the locaility.
However if you are an investor or builder, it is important to get the mix right as this will result in higher profit margins. Getting it wrong can often mean longer selling periods and discounted prices. Do your due diligence to avoid disappointment.… Read More
While we are all trying to make the most of the last licks of summer, there’s one thing most people forget to do- take advantage of the summer sales!
Here are just four things you need to get before the summer ends.
1. Sectional Serving Tray with Lid & Removable Compartments
If there’s one item that can travel with you from parties to home and from winter to summer, it’s this creative tray! Divided into five removable compartments, this can be your go-to-tray for the cold winter months. Put some marshmallows in one compartment, crackers, in the next, and chocolate in the other, and you’ve got yourself the ultimate s’mores station!
On the other hand, take out the compartments, and you’ve got yourself one large tray. Cut up some fruit, prepare some vegetables, or even stack some sandwiches and you’ve got the new, modern version of a picnic basket. Perfect for barbeques, picnics, and all things in between!
2. Cutting Board with Utensil Set
No need to elaborate on this one, the picture will speak for itself. As you’ve probably read in our last post, this Cutting Board is perfect for all uses- both indoor and out. Pile up some fruit, bag some vegetables, take along a loaf of bread, and you’ve got everything you need to enjoy your last moments of outdoor summer eating.
3. Vacuum Storage Containers
Not Convenient for outdoor use? Well, you’ve got it all wrong! While the rotating carousel makes it the perfect kitchen addition, the covers make it the ultimate outdoor necessity. Having an end-of-the-summer barbeque? With our schedules beginning to change and the days slowly shortening, there’s no time to cut, pack, spread, and pack-up all the food you brought along. With our Container Set, you can take the food straight out of the fridge, into your car, and right onto the table. When the party’s over? Simply place your containers back on the carousel or into the fridge they came from.
4. Double Dish Bowl Drainer Set
Summer memories may last in your heart forever, but fruit season lasts for a limited time. While fruit is still in season, take advantage of this Double Bowl Drainer Set. Simply place your fruits in the inner bowl and let the water drain out to the bowl below it. No mess. No cleanup. No problem.
What use does it have when the summer ends, you ask? Salads, vegetables, nuts, candies, pasta… well, you get it.
What would you add to this list?… Read More