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Key renovations to increase your home’s property value

Key renovations to increase your home’s property value

If you are looking to increase your home’s property value, here are five of the best renovations you can do to your home to increase property value.  These five renovations have the potential to get you a return on investment of five to six times of what they cost.

Flooring

Continuity of flooring is one of the most important aspects of your house. You will see an immediate rise in property valuation with the installation of hardwood floors. Existing hardwood floors that you can refinish are ideal as they are less costly to restore and in higher demand than new flooring materials. For the bathroom, tile will always be in demand and retain value exceptionally well. In-floor heating is also attractive to most buyers.

Bathroom

The bathroom is the second most important room in the home in terms of valuation. If you can add a three-piece bathroom to a home with only one full bathroom, you will see a dramatic rise in the market value of your home. While you should never compromise bedroom space for a bathroom, try sneaking one in dead space in the home. As an added tip, use glass for the shower to make the bathroom feel more spacious.

Fixtures

Kitchens often look tired and dated, in large part due to old fixtures. Replacing or updating cabinet hardware, light fixtures, countertops and faucets will result in an immediate increase in your home’s value. This small, but effective upgrade will also revitalize the entire home. Wine fridges are always a popular feature with home buyers.

The kitchen is the most important room when it comes to making renovations that will increase the value of your home. Metro Creative photo

Kitchen

The kitchen is the single most important room in the home relating to valuation. The kitchen can make a significant difference in the value of your home. As such, it is crucial that you invest in having a modern, fresh and desirable kitchen. Modern cabinetry, under cabinet lighting and new appliances will all significantly increase the value of your home on the market. It can be beneficial to consult an interior designer when remodelling a kitchen.

An income suite

The single biggest way to increase the value of your home is to build an income suite within the property. Whether this is converting your basement into a rental or another floor in the home, an income property will increase your home’s worth. Make sure you check with local authorities and obtain all necessary permits before you commence any work on your home.

Tony Browton’s blog can be found at http://www.truebluerealty.ca/blog

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