Homeownership is a huge achievement but also a great investment that will create financial security down the road.
Over time real estate appreciation increases the amount of equity you have in your home. But renovating and upgrading your home is also a great way to increase the value of your home and hence increase your equity.
The question that quite often gets asked is “can I afford a renovation”. There are some cost-effective renovations that will change the look and feel of your home without breaking the bank. Here are some renovation recommendations that will increase the value of your home:
- First Impressions Matter – Take Care of the Front Door
Your front door is the first thing potential buyers will see. So first impressions really matter. I fresh coat of paint can make a huge difference and add that extra little pop to your curb appeal. Picking a colour that will complement and increase your home’s curb appeal.
- Small Upgrades For Curb Appeal
Take a good look at your property – does it look shabby or look like it needs a little TLC? Clean up and paint entrance which includes doors and garage doors. Make sure the railing and steps are strong and secure. Also, make sure that your home is well lit. Don’t forget to clean up your landscaping and yard – cutting overgrown bushes or trees and possibly planting new plants to brighten up the yard.
- Small Upgrades to Your Bathroom
Bathrooms sell homes. So if the main fixtures are in good condition (bathtub, vanity, and toilet) it may only be a matter of updating the vanity countertop, possibly refacing the vanity cabinet, a fresh coat of paint, replacing old caulking, replacing the vanity countertop with quartz countertop, and updating faucets. These small changes can really help modernize your bathroom.
- Update Lighting
New lighting fixtures will brighten up your home and change the feel of your home.
- Minor Kitchen Remodelling – Reface Kitchen Cabinets
A full kitchen renovation can be quite expensive but as long as your kitchen cabinets are in good condition you can have your cabinets resurfaced. Resurfacing your kitchen cabinets will dramatically transform the look and feel of your kitchen. You could also make some changes such as adding shelves or adding pot draws relatively cheaply as well and these changes will improve the look and functionality of your kitchen.
- Repaint the Interior of Your Home
A fresh coat of paint will instantly transform the look and feel of your home and make it feel new. If you are able to paint your home yourself this is a quick and easy way to bring new life back into your home. Don’t forget to also paint the trim, based board, and doors and you will be surprised by the difference it will make.
These are just a few ways of transforming and increasing the value of your home. If you would like more suggestions on how to improve your home’s value for sale reach out for some suggestions.
If you are thinking of selling your home, reach out for a complimentary market evaluation.