Over the past year, most of us have spent a lot more time at home. And, we’re also spending more of our attention on home renovations. But which renovations are worth the investment?
With the ever-changing Niagara real estate market, our team wants you to be in the best position possible if you have future plans to sell your home. If you are thinking about, or in the process of, renovating your property, it’s good to know which projects can yield a good return.
Here are our 3 top home renovation tips that can help add value to your property.
Like many things in life, it’s the small things that can make the biggest difference! Sometimes we can get caught up with the “big” renovation projects like additions and remodelling, yet minor renovations can have a significant impact on the overall value of your home too. And they are usually the most affordable to do.
These fixes include repairing cracks and holes, and addressing plumbing issues like the leaky faucet that keeps you up at night. Routine maintenance such as servicing your furnace or cleaning your fireplace chimney are also good to add to this list. For potential homebuyers, this upkeep reflects a home that is well cared for - and a smart purchasing decision.
We also recommend focusing on projects that can add curb appeal to your home. Having great curb appeal can set you apart from other homes for sale. This type of renovation helps to sell your home faster because it makes a first impression that potential homebuyers will remember.
Smaller projects like planting trees and shrubs can add instant appeal to your home. So, too, can landscaping elements like mulch and garden borders, which give outdoor spaces a more professional look. Installing outdoor lighting along walkways or by trees can also add visual impact.
If you’re up for a bigger project, upgrading or painting the exterior siding of your home can result in added value for your home. We suggest selecting complementary paint colours that will attract a large range of potential homebuyers.
And if you are ready to tackle one of the “big” home renovation projects to increase your home’s value, keep this in mind: if it adds more space, it will likely add more value. For example, renovating an unfinished basement can be worth the investment because potential homebuyers will appreciate having more living space. But note that if it comes at the expense of essential storage space, it might not be the best project to move forward with.
The same goes for opening up spaces. Reconfiguring your home’s layout can make areas in your home more versatile. Many homebuyers appreciate living spaces that are flexible to their unique needs, including expandable dining areas or open play areas for young children.
Not sure which home renovation projects on your list are worth the investment? Our REALTORS® offer a complimentary market analysis that includes a pre-listing consultation to increase your home’s value. Reach out to our McGarr Realty team today!
Call our office at 905-687-9229 in St. Catharines, or 905-468-9229 in Niagara-on-the-Lake. Or send us a message on our contact page, HERE.