7 Projects That Will Increase Your Home’s Value
Before you sell your Collingwood home, you may want to do a few projects that will inevitably increase its value and get you a higher list/selling price. While not all renovations or repairs will net you a profit at sale time, there are a few that will increase the value in your home.
1. Update your kitchen
You know the old adage, kitchens and baths sell homes? Well, this old saying is still very much in effect in today’s home selling market in Collingwood. Buyers who are able to walk into a kitchen and not want to change a thing will definitely buy your home and pay more for it than if it is outdated or drab. You can get a potential 3-7% bump in price by adding new quartz countertops, stainless steel appliances and by painting the walls. Updating the cabinetry will also help.
2. Update the windows
If your windows aren’t high-efficiency, all a potential buyer will see is added costs in utility bills. With the price of natural gas and hydro skyrocketing in Ontario, doing what you can to save your buyers money before they move in will mean more money to you on the purchase price. Installing Energy Star certified windows could bump your home’s value by 1 to 3%.
3. Add hardwood
Most buyers want hardwood floors and homes with carpeting (especially carpets in rough shape) will definitely lose value. Adding hardwood to the main level will increase your value by 3 to 5%, but the cost will be minimal, especially if you do the work yourself.
4. Add luxury to the bathroom
We spoke above about kitchens and bathrooms and this is your chance to sell your home with both items checked off on your buyer’s list. Your bathroom should be in good condition, but if you can show the buyers some great luxury items, like a glass walk-in shower or a comfort-height toilet or heated floors, their heart will make the buying decision for them and they will pay more money for your home.
5. Paint the home
Using neutral and appealing colours to give your entire home a fresh coat of paint will increase the value and likeability of your home by about 1 to 2%. The cost for painting is definitely less than the value increase, again, especially if you do it yourself.
6. Add curb appeal
Landscaping, washing the exterior of the home and adding a walkway will not only get buyers in the door, it will get them paying more for your home. You can see a 3 to 5% increase on your home’s value by ensuring the outdoor space is beautiful and inviting.
7. Finish the basement
The more liveable space you can provide in your home, the more value you can add to your home. Finishing your basement will increase the amount of buyers who see your home and will increase the value exponentially.
If you are considering selling your Collingwood home, contact me to get more information on ways to increase the value before you list.