Whether you are looking to sell your home or increase your homes value, there are some renovations that are worth spending money on. These are the projects that actually increase the value of your property as well as make for better living.
Not all home renovations add value. In fact, some can even devalue your home, causing you to lose money and find it hard to attract buyers. For this reason, it is always sensible to do a cost-value exercise before embarking on extensive renovations. Consider how much the project is going to cost and weigh up whether the return on investment is worthwhile. If you plan to sell within three years, here are five smart house renovation projects that are definitely worth your time and money.
The kitchen is the heart of any home, so it makes sense that adding a new kitchen will automatically add value and make it easier to sell your property. You can expect a 50% ROI.
Take care with the design and have your new kitchen fitted by a reputable contractor. Granite and marble countertops are very popular at the moment, especially when combined with contemporary cabinets. If budget is a problem, give cabinets a makeover with some paint, upgrade the appliances, and replace countertops.
Remodel your basement and give it a new purpose in life. Replace worn out flooring with hardwood floors. Install concealed lighting and build storage solutions for books, tools, laundry and toys. Give the space a theme, i.e. a games room or a home office. This helps potential buyers see how useful the space can be.
Bathrooms add value, especially if you add an extra bathroom or shower room. Installing a wet room adds a contemporary feel to a home, especially when combined with sleek fixtures and fittings. The more luxurious the bathroom, the greater your ROI.
With bathroom renovations, look at ways to make your bathroom stand out. Freestanding bathtubs are a luxurious touch, as are walk-in showers and Jacuzzis. At the very least, replace the faucets with shiny new ones and clean the grout between tiles.
Underfloor heating is very popular in Canada and homes with this type of heating installed typically sell much faster than homes without. Heated floors make a brutal Canadian winter much more bearable. Installation costs are high, but you can expect to recoup your investment within a few years if you stay, and a 50% ROI if you elect to sell. Radiant floor heating in Montreal is energy efficient and the perfect base for hardwood and tile flooring. It feels warm underfoot and is very flexible.
Don’t make the mistake of neglecting your outdoor space. Invest in your landscape and you will find it easier to sell the property. The exterior of a home is the first thing a potential buyer sees, so make sure yours is attractive. Tubs of flowers, a well-maintained border, and an outdoor dining area are all home improvements that add value.
Always use reputable contractors when carrying out