5 Home Renovation Tips That Boost Resale Value
There are lots of ways you can change your home when you renovate. But not all of them will give you the best bang for your buck. Some home renovation changes improve the look of your space and raise the eventual selling price of your home. Others end up being an easy way to flush money down the drain.
Which home renovation changes should you focus on if you want to boost the resale value of your space? Consider these 5 tips:
Upgrade the kitchen
Your kitchen is probably one of the rooms in your home that you use the most. It’s also the space that guests and future buyers are most likely to focus on. That’s why upgrading your kitchen is one of the best ways to boost the resale value of your home through a home renovation. You can change the look of your kitchen by painting your cabinets, installing a new backsplash, or swapping older appliances for modern ones.
Whatever changes you decide to make, just be sure to consider the cost of your materials and the increase in value they’ll give you. After all, you don’t want to pour a ton of money into a fancy countertop or sink and not be able to recoup the cost.
Give your bathrooms a makeover
You may have a kitchen that impresses your friends and tempts future buyers. But if your bathrooms are outdated or poorly maintained, it can turn them off. This is especially true for a main floor powder room or master ensuite. When doing a home renovation, you can boost your home’s resale value by making any number of changes in your bathrooms. For example, swap your drop sink for an undermount sink, add a granite or marble countertop, install heated floors, or upgrade your shower.
Add space and light
How do you make a home feel bigger and brighter? Use your home renovation to add space and light. For example, by removing non-structural walls, you can improve the flow of your home and create a spacious open-concept floor plan. You can also add vaulted ceilings to create the illusion of more space. And if you want to let in more natural light, you can increase the size of your windows or add a skylight.
Give your walls a fresh coat of paint
One of the simplest ways to change your space during a home renovation is to give your walls a fresh coat of paint. A newly painted wall hides scuffs and dents, gives rooms a well-maintained look, and can even make spaces look brighter (depending on the colour you choose).
If you’re planning to put your home on the market soon after you renovate, choose a neutral colour for your walls. You may love the eggplant colour you recently spotted in a magazine. But if you want to appeal to as many prospective buyers as possible, stick with a shade most people would be able to live with.
Change up your flooring
When you do a home renovation, it’s easy to focus on what’s at eye level. But it isn’t just your walls, counters, and cabinets that affect your home’s resale value. Your floors factor into the equation too.
There are lots of ways to enhance the look of your home and improve its resale value by changing your floors. For example, you can refinish a hardwood floor to give it a fresh look, replace worn wall-to-wall carpeting, and get rid of floors that are highly personal.
Boost resale value during your home renovation
Home renovations can feel overwhelming. After all, there are many different ways to change your space. To make sure you get the most value out of your home renovation, focus on changes that are known to boost a home’s resale value. This way, you’ll be able to give your home a fresh look and make some money down the road.
Thinking of renovating your home to give it a makeover? We can help. Schedule a complimentary consultation.