Transcript: Scott and CIBC on: Understanding the value of your neighbourhood

[Music plays in the background.]

[Expert advice with CIBC and Scott McGillivray. CIBC logo. CIBC and Scott on: Understanding the value of your neighbourhood.]

[Scott McGillivray and Tim Shwed, CIBC Mobile Mortgage Advisor, sit at an outdoor restaurant table.]

>> Scott McGillivray: Behind those walls is where real long-term value sits. Does that make sense in your line of business as well?

>> Tim Shwed: Now the biggest influencing factors that I’ve seen is the value of your home, so just to your point about good bones. So we need to determine, you know, those good bones, is the value at the low, medium or high range within the neighbourhood that you live in? Because you don’t want to over improve the home in a neighbourhood that you’re buying or planning on doing a renovation. Because typically, if you renovate a home that’s at the low to medium range, you’re more likely to get a much greater rate of return than perhaps one that’s at the high value range.

[Music plays in the background.]

[Graphic of a house rotates and changes into the CIBC logo.]