There are several excellent reasons for renovating your home: creating a more liveable space for your family, improving outdated aesthetic choices and increasing your home’s efficiency, to name a few. But in the back of every homeowner’s mind is another reason – value.
Whether or not you plan on selling your home, you want to know that the changes you make will pay off. You want some assurance that the investment you make in renovations will see a healthy return on investment (ROI.) With that in mind, homeowners often ask the experts, which upgrades add the most value?
There is some conflicting advice on the internet, but experts tend to agree on a few key renovations. These are the consensus choices for renovations that add value.
Install New Windows and Doors
Installing new windows and doors are near the top of nearly every expert’s list, for good reason. If you don’t replace your outdated, inefficient and/or damaged windows and doors, your home may turn off potential homebuyers.
If you do, not only will you enjoy a better resale value, but you may save money while you are still living there. If you choose these energy-efficient doors and windows in London Ontario that are made with Low-E glass and solidly-built vinyl, steel or wood frames, you will save money on your energy bill.
Not only that, but new windows and doors improve curb appeal (a significant attractor for potential buyers) and add natural light (a common criterion among homebuyers.)
Efficiency, curb appeal and natural light
Remodel the Kitchen (But Don’t Go Overboard)
A light kitchen remodel can fetch a handsome ROI, but be careful not to go overboard. Kitchen remodels that include the most luxurious appliances, costliest countertops and cabinetry rarely recoup their costs, especially in down markets.
If you are remodelling your kitchen, stick to the basics. Upgrade to Energy Star certified appliances (homebuyers love efficiency these days,) update the style and add a fresh coat of paint.
Add Outdoor Spaces
For homebuyers, one of the most attractive features of a home is its outdoor space. When prospective buyers look at your home, they aren’t just envisioning their life indoors – they are picturing summers spent outside too.
A deck addition may seem like a large investment, but, according to most sources, it nearly pays for itself in increased resale value. Remodelling the backyard by installing a walkway, planting a garden or adding a gazebo is also a shrewd move.
The Difference a Few Coats of Paint Can Make
Finally, don’t overlook basic maintenance. You would be surprised what a few coats of paint can do for a house. Also, protect your investments by regularly maintaining your windows and doors, pressure washing the deck and side-panelling, and being proactive about plumbing and electrical issues.
It may be years before you sell your home, but that doesn’t mean you can’t make wise upgrades today. These four renovation projects will not only add value, but they will also provide you with a more liveable, beautiful and efficient home.
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