There are several factors that determine a property’s value. These include the state of the market, the neighborhood, the home’s location, and many more. A lot of things are totally out of your control. However, the cosmetic and structural conditions of your home can make a significant impact on its overall value. People will pay for what looks modern and in good shape.
Here are 5 home renovations that are the most likely to increase value.
- Repair the Roof
The roof is a very important part of the house, yet it is often overlooked. Major repairs are simply too expensive for many homeowners to consider. However, maintaining the roof is sure to bring a decent return.
A roof that is well-maintained will protect you from the elements while providing curb appeal and a greater resale value. It will also defend the home from wildlife, such as raccoons, squirrels, bats, and mice. Ask an exterminator in Whitby for an affordable inspection and exclusion service that will keep these critters out.
- Upgrade the Kitchen
Kitchens are incredibly valuable because they are the heart of the home. It’s where we work with our hands and gather as a family. Since the kitchen is so heavily used, it is often the first room that potential buyers examine.
Simple upgrades can drastically improve the overall appearance of your kitchen. If you’re not ready for a complete makeover, consider making smaller commitments like changing the faucet or the handles on your cupboards. Add a peel and stick backsplash or undercabinet lighting. You can make an even bigger difference by painting cabinets or resurfacing them.
- Increase Energy Efficiency
Energy efficiency is increasingly important to buyers. Investing in it can also save you lots of money on your energy bills. You can do this by switching to greener appliances, updating your HVAC system, or getting new windows. Look for double pane windows with high energy performance ratings. Good windows are well insulated, so your home stays cool in the summer and warm in the winter.
If you find that your home has trouble maintaining a comfortable temperature, you might need to upgrade your attic’s insulation. Attic insulation enables a consistent temperature indoors, which not only saves you money on your heating and cooling costs but helps to maintain the roof. Invest in a cost-effective, environmentally friendly option like cellulose insulation.
- Give the Bathroom a Makeover
Bathroom and kitchen renovations have high rates of return. This is because people spend a lot of their time in these rooms but don’t necessarily have the time or the means to renovate them. Thus, putting the work in will pay off.
If you can’t remodel the bathroom entirely, don’t worry. Smaller changes can also make a big difference. Consider changing the light fixtures above the vanity or adding recessed lighting to brighten up the room. You can also change the mirror or the vanity for a more modern look. Even cheaper options include painting the door, changing handles, or changing the color scheme with a new shower curtain and set of towels.
- Enhance Curb Appeal
Your home’s exterior is the first thing that buyers see. Putting in a little effort to maintain it is therefore a good investment. Consider the angles at which people see your home and how you can make a good impression.
For easy maintenance, add native plants that do well in your local climate. Mow the lawn on a regular basis and get rid of weeds for a well-kept appearance. You can also sand and repaint the deck, paint the front door, or add colorful patio furniture. Light fixtures are another easy way to brighten things up. Check out solar-powered garden lamps and recessed soffit lighting.