5 TIPS FOR INCREASING YOUR HOME’S VALUE IN TORONTO:
When it comes to valuing your home, some factors are beyond your control. Location, market conditions and other areas cannot be modified. That’s why home-owners are turning to renovations to increase the value of their home. If you’re preparing for a sale or looking to build equity, it’s worth it to consider home improvements that will get you top dollar on the market.
Consider the five tips below to increase the value of your Toronto property with smart home improvements.
1. Improve your home’s appearance
Creating curb appeal that welcomes buyers is essential in Toronto’s real estate market. If a buyer pulls up to a home that has a cluttered yard, no landscaping and dirty windows, they may keep driving. This could eliminate many buyers from your listing. As you consider home improvements, don’t neglect your exterior space. There are many ways to increase the value of your home by focusing on its appearance outdoors. These include:
- Repainting the front door.
- Planting flowers or greenery.
- Washing your windows and siding.
- Trimming greenery that hides your home.
Improving the appearance of your home from the outside is essential to intrigue buyers before they even walk through the door.
2. Eliminate extra maintenance
Often overlooked in home improvement are your appliances, furnace, water heater and roof. While these can be costly investments, they go a long way to increasing your home’s value. Plus, a one-time investment typically holds its value for years to come. When upgraded, these assets will make your home more marketable on your realtor’s listing as well. A buyer’s fears may also be calmed when they see that these items won’t need immediate investment on their part.
3. Consider energy efficiency
As you upgrade your appliances and remodel your home, don’t neglect green options. Features that focus on energy conservation can increase the value of your house. This is especially important in cities that experience extreme weather. Toronto, for example, would benefit from homes with energy-efficient improvements for cold climates. Consider the following:
- Solar panels.
- Double-paned windows.
- Improved insulation.
- LED lights.
- Efficient appliances.
Not only will these home improvements increase the value of your house, they’ll also attract energy-conscious buyers in the future.
4. Add square footage
Space is at a premium in Toronto real estate. Everyone is looking to do more with less space. Adding more square footage to your house, or repurposing the space you do have, can improve its value. Many realtors will also compare similar listings by looking at the price per square foot. You can rank higher in this regard by having more living space to work with. While you might not be able to add a new room, you can create more living space by finishing the basement, building a deck and improving your patio.
5. Include smart technology
Buyers are always looking for the latest and greatest home features. That’s why new technologies should be included in your home improvements. Smart devices for your thermostat, door bell, locks and security system won’t go unnoticed in today’s market. While these upgrades might not affect your home’s value directly, they will increase its appeal and could generate a return upon resale. As an added bonus, many of these upgrades can be installed yourself unlike other home improvement projects.
If you’re looking to increase your house’s value, smart home improvements will ensure you get the biggest return. But having a competitive advantage in today’s real estate market means looking at your home from a buyer’s perspective. The team at Maison Makeover will provide an expert professional opinion on the remodeling strategy that will yield you the highest reward. We work with you to do a free inspection and provide a full report of our recommendations. This includes a quote and the new estimated market value of your home. Contact us to request a complementary home makeover audit.