Oakville Real Estate News

Why You Should Renovate Before You Sell

Blog by Joette Fielding | September 21st, 2015

why-you-should-renovate-before-you-sell.jpgIn today’s competitive real estate market, it’s more important than ever to consider smart renovations so you can get the best price for your home.

For many Canadians, their home is their largest and most important investment, so when it comes time to sell, they want to make sure they receive the best possible return. While some renovations improve the enjoyment we get from our home, others just make good financial sense. Here are some of the best improvements you can make before you sell to ensure you maximize the market value of your home:

This is one of the most affordable upgrades any homeowner can do. Nothing refreshes a room quicker than a new coat of paint. If you’re selling in the near term, choose neutral colours. White or cream are timeless and make rooms appear larger and brighter. Make sure everything gets a fresh coat, including ceilings, trim and doors. If you only paint the walls, you’ll be surprised how dingy everything else will appear in comparison.

Return on Investment: 107%*

Floors can receive a heavy beating so make sure you spend a portion of your budget here. Repairing worn floors and shampooing or replacing carpets are easy and affordable ways to quickly improve any room in your home. If you’re selling in the near future, consider replacing carpets with neutral tones.

Return on Investment: Carpets: 160%; Repair Floors: 110%*

Curb Appeal
Freshen up the exterior of your home by trimming back overgrown bushes, planting new annuals, replacing worn mailboxes or house numbers and repairing cracks in stairs or concrete walkways. Add plant-filled urns to patios and porches to create a bright, welcoming space.

Return on Investment: 215%*

Light-filled rooms appear more spacious and are more enjoyable to be in. Ensure overhead lights are using maximum-wattage bulbs. Add additional lighting for rooms without overhead fixtures. In the kitchen and dining room, consider adding fixtures that hold multiple light bulbs to maximize the amount of light in the room. Fixtures that direct light up to the ceiling, instead of pendant lights that direct light down, brighten rooms even more by reflecting light off the ceiling.

Return on Investment: 299%*

* Return on investment figures from US real estate survey HomeGain.

Content courtesy of http://www.moneysense.ca


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