When it comes to home renovation, not all upgrades are created equal, especially if there’s a chance you may sell. No matter how unlikely it may seem, always keep resale value in mind when deciding on renovations to your home. Your home is your biggest investment. Make sure you get a proper return. To help you on your way, here are five things you should renovate before selling.
Before you do anything else, do yourself and any future owners of your home a favour and make sure that your home is energy efficient. Not sure where to start? Start up and work down. Hot air rises, so any heating you do in the winter can escape through a poorly insulated attic.
The number of energy-efficient homes on the market has grown and continues to grow. Because of this, home buyers are more inclined to purchase something that is already energy efficient. Put your home and an advantage both now, and when you decide to sell by upgrading your HVAC, water heaters, and windows. These are currently less expensive than solar panels, and can give you a positive return on investment when it comes time to sell.
The kitchen is the heart of the home. How many times have you been at a gathering and the living is ignored while everyone squeezes into the kitchen? You don’t have to break the bank for new appliances when you’re renovating your kitchen. Cosmetics and facelifts can do a lot for the return on investment. Focus on textures, and colours that make the room inviting. A well laid out and comfortable kitchen can make all the difference in the world.
After the kitchen, the bathroom is the number two selling point in a home, and once again you don’t have to break the bank. Regrout the tiles, replace the caulking, and replace your toilet for a more energy-efficient model. For a real wow piece, consider a custom shower that really draws the room together.
The flooring in your home has a huge impact on how visitors perceive it. Neutral paint, or a new carpet can make a huge difference, instantly brightening up your home for minimal cost. If you have or prefer hardwood, which many buyers place a premium on, it will cost more, but the return on investment grows with it.
Add Square Footage
Give yourself more space now, and a return on investment later by increasing the amount livable square footage. People LOVE having space, and by finishing a basement or turning a deck into an all-season sunroom you can give that to them. Keep in mind that these renovations are best done in a situation that brings you in line with the neighborhood. If the houses on your street are all 2 bedroom, converting to a 3 bedroom might not give you what you’re looking for.