Are you looking to increase your home’s property value? If done well, these renovations will pay off.
Exterior Curb Appeal
You only get one chance to make a first impression, so make it the best one possible. The exterior of your home will be the first thing potential buyers will see. Exterior curb appeal is one of the most important factors to consider, and doing a few things to improve it doesn’t have to cost a fortune. Painting the home’s front door, power washing the home’s exterior, placing outdoor decor on your porch or by your front door, refreshing mulch in the gardens, and planting seasonal colourful plants are small investments that are very worthwhile when selling your home.
Paint
Painting is one of the simplest and most cost efficient ways to spruce up a home, and one that is said to yield 100% on investment. New paint lightens spaces and instantly makes a home feel fresh and clean. Colour should be light (just a shade darker than trim and baseboard). Visit new showhomes to see latest colours used by designers, consult a local painting company, or give Andrea a shout for some ideas. Tip: Benjamin Moore’s Gray Owl or Classic Grey are shades very popular in homes right now.
Fixtures
Homes often look tired and dated in large part due to outdated fixtures. Replacing or updating cabinet hardware, light fixtures, countertops and faucets will result in an immediate increase in your home’s appeal. Pot lights are in high demand in open concept style homes.
Kitchen
A home’s kitchen is the single most important room in the house relating to valuation. Modern cabinetry, under cabinet lighting and new appliances will all significantly increase the value of your home on the market. To save on cost without compromising construction and desirability, consider having your existing cabinetry professional painted … or, if replacing cabinets consider options like Ikea cabinets as opposed to custom cabinetry. Tip: click here for article.
Bathroom
The bathroom is the second most important room in the house in terms of valuation. Like kitchens, bathrooms can be updated by use of wall paint, fixtures and potentially new cabinetry and flooring. If you only have one full bathroom then it is worthwhile adding at least one other three-piece bathroom. While you should never compromise bedroom space for a bathroom, try sneaking one in dead space in the home. As an added tip, use glass for the shower to make the bathroom feel more spacious.
Flooring
Flooring is one of the most important aspects of your house. Old carpets, linoleum and even certain hardwoods date homes and take away from overall appeal. Replacing or refinishing flooring is generally easy and yields an immediate rise in property valuation.
BONUS:
An Income Suite
No surprise, but the single biggest way to increase the value of your home is to build an income suite within the property. Whether this is converting your basement into a rental, or another floor in the home, an income property will increase your home’s worth. The main reason for this is that it covers a portion, or sometimes all of your mortgage payments, and results in your home being cash flow positive – which creates real wealth that can supplement your income.
DESIGN TRENDS THAT WILL RULE THIS YEAR:
If you’re looking to redecorate or renovate your home this year, read this article in Houzz which reflects a summary of hundreds of home design photos, articles and interviews with professional designers to bring you this collection of materials, colors and other home design ideas that you can expect to see a lot more of this year. CLICK here for full article.
THINKING OF SELLING THIS YEAR?
If you’re selling this year then chances are you are likely selling to younger people. Read 7 Tips to Sell Your Home Faster to a Younger Buyer, a great article by HOUZZ … then give me a shout for full evaluation of your home. I’ll be happy to help flush out the details of what specific items outlined above should be done in your home.
