Summer and fall are the perfect times to start home renovation projects if you’re planning to sell your property in the next year or two. As a home renovation contractor in Kingston, we give one simple tip to our clients: focus on renovations that add 70 to 100% to property value. In simple words, if you spend $100 on a renovation, it should add $70 to $100 to your property’s selling price.
Here are 8 home renovations that add value to your property:
1. Kitchen Remodel
Every homeowner wants a modern, functional kitchen. If your kitchen feels outdated and isn’t fitted with energy efficient appliances, you can refresh the space with some new cabinets, countertops, and bright backsplash. Focus on open layout, extended storage, and stylish but timeless finishes.
2. Bathroom Upgrade
Install new fixtures, replace old tiles, and add a fresh coat of paint. If it is a large bathroom, consider adding a double sink, a walk-in shower, or a soaking tub. Play around with textures and colours but keep functionality as your top priority.
3. Finished Basement
Finished basements are the easiest way to grab a potential home buyer’s attention. It can serve as an additional bedroom, entertainment area, or home office and potential buyers can already imagine its use when they walk into the basement. Since they can get dark and gloomy, use light-coloured vinyl flooring, white walls, and stainless steel appliances. Add plenty of windows and a furnace, as basements can get below 20°C during summers.
4. Energy-Efficient Windows
Energy-efficient windows not only reduce energy bills but also enhance the overall comfort of your home. They are a one-time investment and potential buyers will appreciate that they’ve been installed already. They also add to the aesthetic appeal of your property.
5. Outdoor Living Space
If you have a sizable backyard, add a deck with an outdoor kitchen and a pergola. You may also want to add an outhouse for extra storage. Invest in superior quality durable materials with weather-resistant finishes.
6. Curb Appeal
One of the easiest upgrades, curb enhancements make a great first impression. Add a new front door with smart security, beautiful but easy to manage shrubs around the entrance, and a fresh coat of exterior paint. Pot lights are outdoor lighting and a well-maintained walkway also adds to the charm.
7. Update Your Attic
If you have one of the few remaining Kingston homes with an attic, you have a hidden gem that can drastically increase your property’s value. Get creative with this space. Turn it into the primary bedroom, a home office, secret room for the kids, or an arts and crafts room.
8. Smart Home Technology
Smart home technology including security systems, thermostats, and lighting has become a norm in Canadian homes. As a homeowner, you can recover up to 50% of your investments and also significantly reduce home insurance costs. Smart homes are easier to sell. If you have a bigger budget, invest in solar panel installation.
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