Anyone who has lived in the same house for a number of years inevitably gets the reno itch. While a gut job is expensive, home renovations are still an affordable way to upgrade without moving.

“It's natural that after a certain point, homeowners start to notice the flaws in their homes,” said Farhaneh Haque, director of mortgage advice at TD Canada Trust. “It could be that the layout is no longer practical, the bathrooms are outdated or the exterior needs some curb appeal. Each of these areas can increase the property value of a house while making it more suitable to the homeowner's needs.”

Before picking up the hammer and hardwood...

Having problems finding your dream home?  Have you said, "great home, great location, too bad the kitchen is so outdated?"  Don't overlook these properties, as there are mortgage programs available that can help you get into the home with the dream kitchen or hardwood floors you so badly want.  These programs save you the inconvenience or hassle of arranging a second loan after closing to do the improvements...

A recent report from TD Bank called “The TD Canada Trust Repeat Home Buyers Report” suggests that many of us are upgrading our homes more quickly than we originally intended to.   According to this report, 27% of those who had no plans of moving are now home shopping and 42% were moving before they planned to.   What does this all mean?