For homeowners, it’s no secret that investing in renovations can add significant value to your home. But the trick to getting a return on your investment is choosing the renovations that potential homebuyers are looking for.
Before you embark on any home renovation, it’s important to keep a few key thoughts in mind.
Be aware of what you’re spending. Before you even think about shopping around for your renovation, have a budget in mind. It’s easy to blow your money when you embark on a renovation, so having this number worked out beforehand can save you a lot of heartache.
Think about lighting. Light can make a huge difference in the look and feel of your home. Before you completely gut that kitchen or bathroom, consider brightening the space up first to see if that makes the difference you’re looking for.
Update the little things. You can make a lot of smaller updates to make your home more appealing to buyers. Switch out your electrical cover plates, taps, cupboard handles and other small pieces that could make a big impact.
Be mindful of permits and workmanship. Large-scale renovations often require permits, so whether you need to get those yourself or your contractor does it for you, make sure you have all the permits you need. Also make sure you’re hiring a reputable professional, otherwise you could end up spending more money fixing their mistakes.
Sometimes, the smallest renovations can make the biggest impact. If you’re thinking about putting your house on the market in the near future, you may want to consider touching up the paint. A fresh coat of paint can have a big impact! For the best results, try neutral colours that will appeal to other homebuyers.
The kitchen is often the heart of the home - and one of the first things that potential homebuyers look at when they do a walkthrough. Having a beautifully renovated, modern and stylish kitchen could be what gets your house sold. Kitchens are the most expensive rooms in your home for renovations, but they can really pay off. Depending on how much you spend on your kitchen renovation, you could see up to an 80 percent return on your investment.
But before you renovate your kitchen, make sure to keep the following things in mind:
Choose a style that matches the overall look of your home; don’t install a super modern kitchen in a traditional home
Focus on high quality materials like granite and wood cabinets
Invest in high quality appliances
Consider spending 10 to 12 percent of your home’s value on a new kitchen
Bathroom renovations are second only to kitchens when it comes to high-value renovations, and they share similar reasons for renovating. Homeowners who walk into a home that have newly renovated bathrooms will be relieved that they won’t have to spend the time and money themselves. Because bathrooms get used so much, it makes sense to spend the money to have modern fixtures and sleek finishes. Consider installing a walk-in shower and spa-like features to attract potential homebuyers.
Giving your home great curb appeal is essential for attracting buyers. The front of your house is the first thing anyone will see, so making a great first impression is really important for encouraging people to consider buying your home. Keep your grass properly trimmed and maintained, and line your driveway with an attractive walkway or shrubs. Having clean, simple and well maintained landscaping can make all the difference.
Are you thinking about selling your Guelph home? Contact David Halls and the team at Lifestyle Real Estate to get started!