HOW TO MAKE SMART INVESTMENTS IN YOUR HOME IMPROVEMENT:

When we think about home improvement projects, they often fall into two categories. First, are the projects we want. These often include luxury home upgrades, such as expanding your garage to fit a new sports car or building a home theater. These allow you to enjoy your home more fully now, but might not suit future buyers. Next, are the projects we need. This could mean replacing your roof, upgrading windows or even remodeling an outdated kitchen. These projects are typically necessary to extend the longevity of your home for new occupants.

When it comes to home owners who are preparing for a sale, making smart investments into home improvement can ensure you choose home upgrades that generate a market return. This can help to distinguish between wants and needs so that you make smart improvements to create a competitive advantage on the market. Below are some suggestions to consider before you invest in any remodeling or home upgrades.

Choose home improvement projects for the long term

Smart improvements have a longer life expectancy than luxury home upgrades. For example, a new roof or furnace – although expensive – will provide cost savings to the home owner for years to come. Conversely, a luxury upgrade such as installing a swimming pool comes with a hefty price tag that won’t necessarily generate a return. This is especially true as more and more buyers see swimming pools as a liability. Smart investments in home improvement are those that provide immediate value and also improve the market price of your home for several years to come.

Make smart improvements to key rooms

Kitchens have become a modern focal point in every home. As the key room where you host gatherings and festivities, future buyers will be keen to ensure that it suits their needs. As you consider home improvements to prepare for a sale, it’s essential to focus on the kitchen. It may not be necessary to undertake a full kitchen renovation, though. Instead, consider smart home improvements like resurfacing cabinets, new hardware and updated light fixtures.

In fact, the Appraisal Institute of Canada lists kitchens and bathrooms as the top two rooms where remodeling will generate the highest return on investment. Why bathrooms? For many home owners, the bathroom, especially an ensuite, represents a spa-like retreat. With a high enjoyment value, buyers are coming to appreciate modern, clean designs in each bathroom to welcome them into this oasis after a long day. That’s why remodeling a bathroom falls under the category of smart home improvements in a key room.

Consider even the smallest of home upgrades

A fresh coat of paint does wonders to freshen up any room. While remodeling entire rooms is warranted in many instances, smaller home upgrades are not to be ignored. In addition to paint, consider other cost-effective, smart improvements such as:

Include energy efficiency in home improvement

With almost every home improvement, comes the opportunity to invest in energy efficiency. Again, this involves thinking long term, as future buyers of your home will appreciate your environmental investment. Energy efficient renovations can be incorporated into window and door replacements, light fixtures, appliance purchases and other areas.

If you’re preparing for a home sale and looking to remodel, smart improvements will ensure you get the most return for your investment. 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 for your home. We work with you to do a free inspection and provide a full report of our recommendations, including a quote and the new estimated market value of your home! Contact us request a complementary home makeover audit.