5 Proven Ways to Increase Your Home’s Value
Owning your own home can provide years of enjoyment and be the best place to create memories. And while the only time you'll likely think about the value of your property is when you're buying it and when you're selling it, there are other times you should definitely consider it.
You may have purchased your current home believing it would be your last; but according to ComFree Living, a surprising 28% of Canadian homeowners move every five years. What this means for you is that by making wise home renovation choices, you'll not only benefit from the enhanced space, but you'll also enjoy a greater return on investment when you sell.
Paint, Paint, Paint.
Adding a fresh coat of paint to select interior rooms is always a great idea and fairly inexpensive. Neutral colours are best as buyers can visualize their own belongings in the new space. Kitchens and bathrooms are the best places to start as they get the most traffic. Use high-quality paint that will hide old finishes and leave a smooth, washable surface.
Repaint the front door too. Select a nice contrasting colour to your exterior facade to provide excellent curb appeal and give potential buyers a great first impression.
Update the Bathroom
Even small bathroom renovations provide improved functionality and value to your home. Replace an outdated vanity, old plumbing and lighting fixtures, or consider putting in a new ceramic tile floor.
If your bathroom is in desperate need of a facelift, don't worry about putting in the extra money. A thoughtful bathroom renovation is guaranteed to pay for itself on resale, so go ahead and tear out that old fiberglass tub and fix that leaky faucet.
Make Kitchen Improvements
Kitchen renovations provide the greatest return on investment, so you'll definitely want to give this room a makeover. Once again, starting small can make a big difference—refinish, reface or replace cabinet doors and drawers; change out hardware to reflect current trends; or update your lighting to include modern pendant styles and under-cabinet fixtures.
If you have a little more to spend, replacing your countertop with granite or quartz will add significant value as will changing the linoleum floor to ceramic tile or hardwood.
Finish the Basement
Game rooms, entertainment centres, man caves, home offices, kitchenettes and in-law apartments are the most popular uses for the old, musty-smelling basement. Today's homeowners are savvy about utilizing every possible space efficiently, and transforming your basement is a great way to do it.
Waterproofing experts at Royal Work Corp. recommend a complete evaluation of the area before you start your renovation. Making sure your basement is moisture-free will protect your investment and your health.
Enhance the Exterior
Take care of maintenance issues like mowing the lawn, trimming shrubs, cleaning gutters and applying fresh mulch. Also make sure you replace cracked siding, missing shingles and repair concrete walkways. A fresh coat of paint on trim work or newly stained decking will also show your prospective buyer that the home has been treated with tender loving care.