Whether you are selling your first home or looking to increase the value of an investment property, most homeowners are curious about renovations that increase value to your home. The fact is, not all renovations are created equal, nor do they all give you the ROI you are likely looking for when sinking extra cash into your property.
In my experience, these are a few of the best renovations that increase value on your home and are sure to impress prospective buyers when they come to check it out!
5 Home Renovations That Increase Value
1. A Fresh Coat of Paint
Nothing freshens up a home like a fresh coat of paint! Just make sure you don’t go too wild, stick to neutral colours.
2. Finish The Basement
If you have an incomplete basement, now may be the time to finish it. Extra floor space not only increases appeal to buyers, it will increase the total market value.
3. Curb Appeal
Looks matter and the way your home appears from the curb is a crucial first impression.
- Landscaping upgrades can be inexpensive and very effective!
- Consider adding a paved walkway
- Freshen up exterior paint
4. Bathroom Renovations
Although it’s not necessary to go all out, bathrooms always play a big role in the final decision for homebuyers.
- His & hers sinks in the master bedroom
- Update the sink & faucet to something better than builder standards
- Consider adding an additional bathroom, especially if you only have one
5. Renovate The Kitchen
There is something about a beautiful kitchen that is simply irresistible to buyers. Along with bathroom renovations, updating the kitchen has consistently proven to be a reliable way to increase the value of your home over the years - some stating that it will fetch up to 100% ROI when you sell your home. In my experience, this seems to be the case but the other edge it gives you is desirability. People spend a lot of time in their kitchens and prospective homebuyers always seem to remember the homes with the nicest kitchens!
Are you thinking about selling your home but you're not sure about how to maximize your return on investment? Feel free to reach out to me using the contact info below.
Do you have an experience with renovations that increase value to your home? Leave a message in the comments! We would love to hear from you.
Chris & Patti Proctor: Realty Executive - Devonshire Realty
11058 51 AV, Edmonton, AB T6H 0L4
Cell: (780) 709-0811