What’s new in east coast real estate? In this post, we provide you with your Halifax market update as we move through the fall.
Are you thinking of selling your home this winter? Before you do, you’ll likely want to increase the value of your home as much as possible. This includes renovation projects! Just like everything else, our homes need proper care and maintenance to retain their value over time. Certain renovations will make your home more desirable and valuable to buyers, which will increase your chances of selling. Taking on smart home improvement projects helps ensure your house is in its best condition.
Here are five renovation projects that will increase your home’s value before you sell.
A bathroom remodel is a great renovation project to help increase your home’s value before selling. Bathrooms are very important parts of the house for buyers, and a proper bathroom renovation can have a very high return on investment (ROI). In fact, you can expect around a 70 per cent ROI from your remodel! Since bathrooms reflect the age and state of the rest of your home, they should be kept modern and fresh. Most notably, areas like sinks, countertops, and mirrors say a lot about your bathroom. If you have an old builder’s mirror or a single sink, consider upgrading to a double vanity and sink, with a fresh countertop. It’s best to maximize the space in your bathroom so it gets the most use possible, especially master bathrooms.
Energy efficient improvements
Green energy and smart technology are becoming increasingly important issues for buyers. Forward-thinking renovation projects that prioritize the environment are one of the best ways to increase the value of your home. As climate change and global warming cause more problems worldwide, many buyers feel the need to reduce their carbon footprint as much as possible.
So, what can you do for your home? Green energy renovations can be pricey, so you can start small with a programmable thermostat in your home. These allow you to set your temperatures in advance for certain days and times, so you’re never using more energy than necessary. For example, you can plan to turn the air conditioning or heat off if you will be away. If you want to go a bit bigger with green investments, you can install solar panels on your roof to create energy from the sun’s natural rays. There are even energy efficient windows and doors that trap the air in your home, so your air conditioning and heating don’t have to work as hard. While these projects will cost you a decent amount upfront, they will save you money on energy bills long-term. Plus, they have a fairly nice ROI if you go to sell.
Curb appeal projects
The outside of your home is the first thing people see, so it has to make a good first impression. In order for the rest of your home to be valuable, people must see the appeal of it from the outside. For example, try to keep your lawn and gardens properly trimmed and landscaped. If you have space to fill, consider adding in more shrubs or flowers. You can also repaint your garage door or your front door for a fresh start. Upgrading your exterior light fixture and house number can go a long way too. If you’re interested in a bigger project, you could also repave your driveway, if needed. There are endless possibilities to improve your home’s curb appeal. Take to Pinterest for some inspiration if you’re not sure where to start!
A kitchen is the central point of any house. This is where people often gather, so it should be one of the best-looking rooms in your house. However, you need to be smart about how much to spend on renovation projects in this space. While your goal is to add value to your home, you also want to make sure it’s worth it for the amount you can sell it for. The most important things in a kitchen are the appliances and countertops, as these age and go in and out of style quickly. Be sure to have fairly recent appliances, and consider granite, quartz, or a similar material for countertops. These are popular materials that are also easy to match. A successful kitchen renovation can often have an ROI of at least 75 per cent.
Painting is one of the simplest ways to freshen up your home. When walls have old paint, they likely have some scuffs or chips from years of being lived in. A new coat of paint lightens up a room and instantly makes it look nicer. Best of all, painting doesn’t require as much commitment in terms of tearing down and replacing parts of your home. If you already have neutral walls, you may be able to get away with touching up some of the rougher spots. However, if your walls are bright colours, you’d benefit from repainting with whites, greys, or beiges. Neutrals are the easiest to match with furniture and decor, making them the best options for showings and for future buyers.
Making your home as valuable as possible is important, even if you don’t plan to sell. There are endless renovation projects you can do, but it’s important to focus on the ones that will add the most value to your home and give you a high ROI!
If you have any questions about buying a home, get in touch with us at Clinton Wilkins Mortgage Team! You can call us at (902) 482-2770 or contact us here.