No homeowner can ever go wrong with adding value to their home. Even if they have no intention of selling it. For those that do they want the best price, they can get. Which means looking at what is needed to achieve this. This means looking at what improvements can be done to increase its value.

Does An Ensuite Add Value to Your Home?

Most homeowners are interested in as much space as a home has to offer. When it comes to an ensuite for most this is a bonus. That doesn’t mean that it would be a good move to add an ensuite just for the purposes of trying to sell the home. What it does mean is if there is an ensuite that already exists then renovating it, so it is modernized would be a good investment. The difference between this type of renovation and just sprucing up a current ensuite with a coat of paint is aesthetics. The paint job makes it look nicer, but the modernization of the ensuite is adding extra value with conveniences.

Does Adding a Deck Add Value to Your Home?

deck

A lot of home sellers don’t give much thought as to what additions can be added to the home to increase its value. Most of the thought goes towards what improvements are needed to take portions of the home that are outdated up to modern standards. For those homes that are basically up to par, then adding an addition like a deck could increase its value. There are some experts that claim an addition such as deck or patio can bring a 50 to 75% ROI.

How Much Value Does Painting Add to a House?

Home painting

New paint can spruce up a home immediately. It can even draw the attention away from other aspects in the room that may be a little outdated. The key to success here is by choosing quality paint and the right colours. For home selling purposes the colours should be neutral. Even though home buyers can re-paint when they buy, the paint status of the home when on the market can have a positive or negative effect. The positive effect can lead to an increase in value, which means a greater ROI.

What Home Improvements Add the Most Value?

Purchase Home

Each renovation that is completed should add some value. The big question is how much and are you going to get a return on your investment through the sale of your home?

The following are some examples of some common but important renovations that appear always to be ones that will increase home value.  The real estate market changes according to trends that can affect what renovations should be done at the time the house is going on the market. With these following renovations, they remain consistent. No matter what demands are being placed on the real estate market.

Floors

Floors are often scrutinized by potential home buyers. Although there are several different types of flooring, hardwood always seems to be at the top of the list. Homebuyers see value in hardwood floors. They are durable, and they add prestige to the look of the home. It may not be worth having all the floors ripped and replaced with hardwood. However, if the floors need replacing, then hardwood would be a good choice. For hardwood floors that already exist, then having them refinished is a good option.

Fixtures

Fixtures are something that a lot of homeowners may not pay close attention to. As long as they are working properly, then they are content with this. Fixtures can out date a home quickly, especially when there are several different types. Some examples are:

  • Faucets in the kitchen and the bathrooms
  • Kitchen cabinet hardware
  • Light fixtures throughout the home

Energy Efficiency

With the high costs that come with heat and utilities, anything that is going to make this more efficient is a plus. Homeowners should consider whether the furnace is one that is efficient. If the furnace is old and outdated, this may be a negative aspect to selling the home. If the homeowner is going to replace it, then doing so with a high-efficiency heating unit will increase the value the new heating system creates even more.

Bathroom

One of the most important rooms in the house taking second place to the kitchen. Home buyers will usually want at least one of the bathrooms in the home to be a three-piece unit. These pieces should be updated, and the bathroom to be made to look as spacious as possible.

How Much Value Does a New Kitchen Add to a House?

New Kitchen

It goes without saying that the kitchen for the majority of homeowners is the most important room in the house. For many, it is the hub of activity. Home buyers will focus on the appliances. These should be updated and matching if possible. Just as important will be storage space by way of cabinets and counter space for food preparations. Updated lighting will be another home renovation that will boost the home value.

Exterior Renovations

home exterior

Increasing the value of the home is not just restricted to its interior. The outside is just as important, and it is this that is going to create the first impression. Some of the renovations that can be done are:

  • A fresh coat of paint
  • Replacement of the front door if it has become dated or weather-worn.
  • Replacement of outdoor furniture even if it is not being sold with the home. Outdoor furniture that is old and shabby and in need of repair detracts from the positive aspects of the home exterior.

Making the Renovation Decisions

When looking to increase the value of the home for resale purposes, it is important to know what may be important to the buyers who may be interested in the homes in the area of the house. A good resource to rely on for advice is the real estate agent who is representing the house. These individuals have an excellent handle on what current buyers are looking for.

Resources

http://acrltd.ca/news/how-much-value-does-an-ensuite-add-to-your-home/
http://homeownership.ca/homeownership/top-five-home-renovations-that-increase-property-value/
https://www.faristeam.ca/add-value-adding-deck-patio/
https://www.whichmortgage.ca/featured-content/13-simple-ways-to-increase-your-home-value-211784.aspx
https://www.getsmarteraboutmoney.ca/invest/investment-products/real-estate/adding-value-with-home-renovations/