What’s it like for buyers and sellers in Halifax right now? Here’s a real estate market update for the city!
Thinking about some home improvements this summer?
Every Sunday on Animal Crossing, the Happy Home Academy judges and rates the home. HHA rates the feng shui and design of the interior. The more furniture in the home, the higher the rating. If a room has a designated purpose, like a kitchen or bathroom, the rating will increase. So, every week the goal is to continue to improve upon your rating from the previous week. The Happy Home Academy weekly rating is equivalent to the value of the property. The more you work to renovate the property, the higher the value will be. As the seasons change, the priority of certain renovations becomes more important. Summertime is the perfect opportunity to kickstart some of those renovations and upgrades. With businesses opening and restrictions surrounding COVID-19 loosening, it might be the perfect time to consider home improvements!
Small Bathroom Remodel
Certain renovations get a bigger bang for their buck. A small bathroom remodel can yield a big payoff when selling the home. Doing a few small renovations is an easy way to spruce up your space. Replacing the lighting fixtures or toilet is relatively low in cost and adds value to the home. Adding a double basin sink in the bathroom can be an easy project and double the usefulness of the appliance. Small renovations in an older home typically yield a $1.70 increase in the value of the property for every dollar spent.
Freshening the bathroom color, like a periwinkle blue, will also boost the price of the home. However, a full bathroom remodel is much more costly and doesn’t yield as high of an increase. A full remodel of the bathroom with all the bells and whistles generally only yields $0.87 home value for every dollar spent. This means that a full remodel with a fancy bidet and lavish features can sometimes cost the seller. Here, we talk about some home improvements to get started on this month!
Improve Your Circulation
During the summer, the weather warms up. The warmer weather can make your home heat right up and feel stuffy inside. Installing new windows can increase the value of the home and make surviving the summer more bearable. Especially with COVID-19 still lurking, increasing the amount of fresh air and circulation can limit the number of bacteria staying indoors. The replacement of windows is one of the top ten projects that increases the resale value of the home. New windows can yield a return of $1.15 for every dollar spent. Updating the windows is also the perfect time to increase the efficiency of the home. Investing in energy-efficient windows can increase the value of the home and save on energy costs. However, the more upscale the window the closer you will be to just breaking even.
Curb appeal can be a big factor in determining the value of the home. Basic landscaping or a fresh coat of paint are common ways to increase the curb appeal of a home. The exterior color of a home has a significant impact on the value of the home. The right color can increase the value of the home far greater than just a fresh coat of paint. According to analyses, yellow homes sell for $3,500 less than expected. Picking a color that fits the vibe of the location and style of home can greatly increase the value. The color of the door can also have an impact on the value of the home. Increasing the curb appeal will make it feel better when you pull into your driveway and boost the value when it’s time to sell!
The value of the home can be positively impacted by a few midrange renovations this summer. Certain renovations will yield a higher return without breaking the bank. Focusing on the curb appeal, with new paint and basic landscaping, is one of the most common ways to boost the value of the property. Doing a mid-range bathroom remodel where the focus is on replacing necessary utilities can instantly boost the resale value. Certain fixtures and utilities can have a bigger impact on the value of resale than others, so interior research can be important. When looking to fund a summer remodel, give us a call at Clinton Wilkins Mortgage Team! You can give us a call at 902-482-2770 or get in touch with us here!