Before you start planning the renovation of your house it is good to know what renovations can add the value to your house and what renovations won’t affect it. There are a few home renovations that can provide good return on the money spent.
Renovated Kitchen
If you ask any real estate expert what the best upgrade that provides the greatest return is, the answer will always be the kitchen. Whether it is refreshed cabinet fronts and new hardware or full kitchen renovation with all new appliances and flooring, the buyers are going to love it.
Bathroom Upgrade
Bathroom renovation is second favorite in increasing your home value. The studies show that sellers are getting return of 75 to 100% on each dollar spent for bathroom renovation. Choose showerheads, faucets, sink and counter top and benefit from return on your investment.
Fresh Painting
Buyers looking to purchase their dream home find it quit difficult to picture themselves in poorly maintained houses. Paint that’s old, faded, cracked or peeled can give people negative feelings about a house. Freshly painted interior as well as exterior can do wonders when it comes to appealing to potential home buyers. Although not any color choice can look appealing to new buyers. Give a preference to light and neutral colors when you painting your house.
Finished basement
Finishing a basement in your house can give you a double bonus. Not only will a finished basement provide a lot more living space, with room for an entertainment area, a playroom for the kids or a home office, but a well-finished basement will add value to your house when its time to sell. However, you shouldn’t expect to get back every dollar you spend.
Energy efficiency
Energy efficiency is one of the real estate factors that proved to positively affect home resale prices. More and more Canadians want to control and reduce their monthly energy bills. Upgraded heating and air systems can provide immediate savings on your energy bill. Upgraded HVAC looks very favourable in eyes of potential home buyers, what results in increased selling price and faster sale.
If you’re considering making home renovation, but are unsure about how to pay for it, talk to a mortgage specialist. There are many options to finance your home renovations that will allow you to benefit from an improved home value in the future. An experienced mortgage specialist can find the best solution to your unique financial situation, so you can relax and ensure you are in good hands and everything will be taken care of.