Whether you are looking to renovate your home’s kitchen or bathroom, there are many renovation companies that can help. If you’re planning on selling your property in the future, it is important to consider which renovation will improve its resale value. In this blog post, we will discuss four types of renovation projects that should be considered for anyone who wants their property to sell at a higher price.
A Full Bathroom RemodelThe most common home remodeling projects are bathroom and kitchen improvements. You might expect to recoup 75% of your initial investment (according to the Appraisal Institute of Canada). Replacing an ancient vanity, obsolete plumbing and lighting fixtures, or installing a new tile floor will get you a lot of bang for your buck while updating and modernizing your bathroom. If you’re planning a complete bathroom renovation, you’ll need to replace the flooring, vanity, shower, tub, and toilet. Make energy-efficient improvements since they will increase the market value of your home. The usage of KERDI-BOARD is wonderful because it produces a continuous line of moisture resistance, which aids in the prevention of mould. If you want your renovation to last, you’ll also need a high-quality, uncoupling, and waterproof system beneath your tiles. The thought of tiling the entire bathroom appeals to me as well.
IMPORTANTMake your bathroom future-proof. You can show potential homeowners that they can “age in place” by installing a shower seat and a curbless shower.
Replacing Old WindowsNew windows can improve the aesthetic of your home, and replacing old windows with energy efficient ones can save you money on heating and cooling. Potential purchasers may be turned off by drafty windows. I just completed work on a home in Holmes+Holmes where the owners had broken windows. COST: Replacing the windows can cost upwards of $10,000 (depending on the number of windows), but it’s an investment that will pay off. If you purchase the most energy-efficient windows, the cost of installation may be compensated by the amount you save on heating and cooling over time.
Embrace Smart Home TechnologyI’m referring to security cameras, smart locks, smart thermostats, and water leak detectors, among other smart gadgets. This is a simple improvement, and market data indicates that smart devices in a house are desired for convenience, energy management, and increased security. A Smart Deadbolt is a terrific convenience and security feature to add to your outer door. COST: The basic smart home devices will set you back around $1,500. (smart thermostat, doorbell, leak detector etc).
Kitchen RemodelIf done correctly, a kitchen makeover will increase the value of your home. If you’re rebuilding an older, outmoded kitchen, you’ll get an even better return. This will entail replacing your cabinetry, stove, and refrigerator, as well as your flooring and sinks and faucets. Keep in mind that, as the population of Canada grows older, the usefulness and accessibility of a kitchen will become increasingly crucial. Lowering light switches, countertops, and cupboards, for example, can make it easier for an elderly or disabled person in a wheelchair to travel around the kitchen. Cabinets with a hydraulic system may be simply moved up and down, ensuring that they are accessible regardless of your mobility level. AVERAGE COST: A kitchen remodel will set you back between $20,000 and $50,000. Depending on the brand and model, upgrading all of your appliances will cost between $6,000 and $12,000. Remodeling Magazine claims that you may expect to return over 80% of your expenditure.
Smaller Projects To Increase The Value Of Your HomeIf you’re planning to do some minor renovations, these items will have a significant impact on your home’s resale value:
- Upgrade your kitchen lighting as part of a minor kitchen remodel.
- a layer of paint
- Bringing your curb appeal up to date
- Putting in a water heater