WHAT IMPROVEMENTS CAN I MAKE THAT WILL INCREASE THE VALUE OF MY PROPERTY?
Many people make a profit by buying properties, improving them and then re-selling. You may not be in the property investment business, but the main concept is the same.
HERE IS SOME INSIGHT INTO THE HOME IMPROVEMENT GAME AND SOME GUIDANCE INTO WHERE YOU SHOULD FOCUS YOUR TIME:
The market value of your home is the price you can expect to receive for your home. This is based on location, motivation, market conditions, and of course, features and improvements. When making any major upgrades to your home, it is best to be sure that you will see a tangible increase in the market value when it comes time to sell.
PUT A NICKEL IN, GET BACK A DIME BACK
What is your time and effort worth? Too many times we meet people who are eager to do the work, but don’t consider the buyer’s perspective. Some people may pay more for some features that won’t matter to others. Consult a professional to determine if the improvements you choose will be worth your money and will give you a return. Make sure this number is worth your time.
Upgrading from carpet or lino to hardwood and tile makes an enormous difference. Focus on looks rather than price, since many buyers cannot tell the difference.
This is usually the focal point of the house. Open concepts and modern colours are key. Consider refinishing existing cabinets and just replacing the countertops to save money.
The saleability of a home is best described as the overall impression your home leaves in the minds of potential buyers. These simple maintenance items may not add dollars to your market value, but will certainly ensure that your home sells as quickly and as close to your asking price as possible.
Freeing up room in the bathroom makes a big difference. Pedestal sinks can work well for this. Modern tile goes a long way.
Interior and exterior. Use neutral or modern colours and unless you are a pro, avoid creative patterns. No murals.
People like to entertain and see their guests. When you enter an open concept home it also feels much larger. Furthermore, three small bedrooms may work better as one large master and a spare.
PROFESSIONAL BASEMENT DEVELOPMENT
Builders, contractors or professionals only please. Poor workmanship will be adjusted for at the time of the sale. You can do some work yourself, but leave the finishing to the pros.