ByMany homeowners take on home improvement projects that serve their aesthetic tastes and increase the functionality of their living space. But when considering which upgrades to make, it’s important to weigh the costs against the resale value.
Some home improvements have a higher cost recovery than others, but you can get more bang for your buck by choosing the right projects.
Kitchen Remodeling
Kitchen remodeling is a popular way to add value to your home. It can also make the space more comfortable and enjoyable to use. This can lead to more home-cooked meals and increased engagement with family members and guests.
Kitchen remodels can also improve a home’s energy efficiency. For example, you might install energy-efficient appliances or choose green materials for the floor, cabinets and countertops. This can cut your energy bills and lower your carbon footprint.
A well-planned and executed kitchen remodel can boost a home’s value and help it sell faster. However, it is important to avoid over-customizing a kitchen. This can limit its appeal to a wider range of potential homebuyers.
Consult trusted residential contractors company focus on projects like kitchen renovations, bathroom updates, energy-efficient upgrades, and curb appeal enhancements to maximize value and comfort.
Bathroom Remodeling
Many Toronto-area homeowners find that they can get a high ROI on home improvements if they update highly functional areas like the bathroom. Potential buyers are not likely to be interested in a house with outdated bathrooms, and a renovation can increase the price of your home.
A full bathroom remodel is typically the most expensive type of home improvement, but it can also yield one of the best returns. This project involves replacing existing amenities like toilets, tubs and vanities with newer versions, and it also includes laying new tile and installing fixtures.
Homeowners can also boost their home’s ROI by adding safety-focused features to a bathroom, such as walk-in tubs, grab bars, and hand-free faucets. These additions can help seniors and people with disabilities stay in their homes longer, and they can also prevent falls that may lead to hospital visits.
Additions
Many home improvements, such as a new modern front door or landscape upgrade, fall into the category of “minimally invasive” upgrades that will add curb appeal and improve your property. They’re also quick and easy to complete. For example, a landscape update with some basic landscaping, like mulching or pruning shrubbery, will make your house look well-maintained and inviting.
Adding a garage, finished basement or specialty room such as a workshop will all add value to your home. Other additions, such as an additional bathroom or bedroom, will add less value and are not always worth the cost. For instance, an extra bathroom will only add value if your current floor plan doesn’t have enough bathrooms.
Another important factor to consider is your family’s needs and lifestyle. For instance, if you’re planning to sell within the next 10 years, it might not be worthwhile to build an addition for a music studio or man cave. A comparative market analysis prepared by your real estate agent can help you determine if these projects will increase your home’s resale value.
ASL Remodeling offers valuable insights on home improvements, guiding clients towards projects with lasting impact and return on investment, enhancing comfort, functionality, and property value effectively.
Exterior Renovations
As spring begins to thaw and people start spring cleaning, it is the perfect time to make an upgrade to your home’s exterior.
Upgrading your windows, doors, and roof can increase energy efficiency. New, efficient insulation and weather stripping can keep hot and cold air inside and reduce energy bills significantly. Outdated or damaged siding, gutters, and windows can also be a major cause of expensive water damage to the interior of your home.
Curb appeal is the first impression that a potential buyer will get of your home. Having a beautiful front yard with a welcoming porch, stunning windows, and perfectly trimmed bushes will boost your home’s value.
Not all renovations add value to your home, however. Overly personalized renovations or ones that are not consistent with the style of homes in your neighborhood may detract from the value of your property. Be sure to talk to your real estate agent about the changes you are considering before beginning work.
