Many homeowners are thinking of renovations soon as the weather gets a bit cooler. Whether your renos take you inside or outside, here are some tips to remember. With saving being the focus this year, due to our economic times, what renovations should you do that will increase the value of your home?
Window replacement/garage door: (Up to 97% return)
Even though you may have to pay over 10K to get new windows throughout your home, your ROI (return on investment) will be around 50-75% when you decide to sell.
Adding a more stylish garage door can add 97% more return for your money. Energy efficiency is high on a lot of buyers list this year and new windows and doors can help solve the problem of energy loss.
Surface renovation: (can add 100% ROI)
Flooring in your home, whether it is tile or hardwood is an essential renovation that would be great to do. Since the price of wood, has skyrocketed lately, if you have older hardwood flooring you may wish to sand and rejuvenate the flooring you have as opposed to buying new hardwood. Hardwood floors are still a major selling boost for anyone thinking of listing their home. Check tiled floors to make sure there are no chipped tiles, loose grout, or if the tiles look dated – replace them.
Kitchens and bathrooms (75-100%)
Although renovated kitchens and bathrooms can add a lot of value to your home, they can be very pricey. You don’t always have to do a complete remodel to get the effect buyer’s desire. Resurfacing or painting your cabinets, new lighting, plumbing fixtures, and counters can add a lot of value. However, if your kitchen or bathroom is very old and needs remodeling you can get expect a 75-100% return on money spent.
Don’t forget the little things!
If you are looking for more simple ideas to up the value of your home don’t forget about the humble coat of paint. This simple gesture of painting through your home tastefully in neutral décor can give you a return over 100%. Other ideas are:
- Replace front door and outside lighting
- Replace dated lighting fixtures in your home
- Go outside and improve landscaping and curb appeal
Leave this to the professionals
Home renovations can be done but we always caution you to make sure that you leave some renovations to the professionals. Here are some updates that should be left to the trades:
- Roofing
- Gas
- Electrical
- Plumbing
Our Anne Winch Real Estate and Staging Team often gets questions on what needs to be renovated and what doesn’t need to be done to sell your home. When you list with us, we can do a simple appraisal of your home and give our professional opinion on how you can get your home market-ready without breaking the bank. Often some big renovations don’t need to be done but a few quick fixes can add a lot of value to your home. We also provide free home staging to make sure your home is competitive in the real estate market. Gives us a call and let us help you get started!