Chris's Blog

28 Jun 2018
Top 5 Things That Add VALUE to Your Home
  • BY: Chris Molenaar

We all know when selling a home it's a price war and a beauty contest.  Now when you're renovating, you might not always think this way.  Quality is usually at the forefront of everyone's mind while renovating their home, and it is important!  BUT, it's usually the cosmetic repairs you do that give the most return on your investment.

First of all, neutral colour is extremely important.  It's also important to recognize what style and/or taste the general population might enjoy and where it could differ from your own.  This could help you with design decisions and make your home more appealing to buyers.

Now onto the list:

  1. Flooring
    1. Can completely change the look and first impression of your home.
  2. Fixtures
    1. Light, plumbing, or hardware throughout the home
  3. Bathrooms
    1. Update or modernize existing bathrooms
    2. ADD a bathroom!
  4. Kitchens - the most important room in a house
    1. Most common place to OVERSPEND when renovating!
    2. Important renovation - keep in mind the market, price range, and style of your home
    3. Hardware, fixtures, paint, countertops, and stainless steel appliances are usually all that’s needed to give your kitchen a fresh, new feeling- no need to spend $30,000 on a completely new kitchen
  5. Income Suite
    1. This depends on your property, price range, and neighborhood
    2. Is your property in a rentable neighborhood?  Is it going to detract from the lifestyle of your home?  Does it add value?
    3. For example, if you live in a core neighborhood with an entry-level price point, then it can add great value.
    4. Make sure you consult a professional to see if this is a good option for you.

Another thing to consider when renovating your home is the ceiling price of your property.  What is the maximum we can get out of your property no matter how much you put into it? 

If you don't have the money for major renovations, keep meticulous care of your property and do the basic "lipstick" - paint and little updates throughout the years.  If your property is well-maintained, you can get a very similar value to a comparable home which has been completely redone.

Do you have any questions about your past, present, or future renovations?  Talk to a professional!

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