Indeed, renovations can increase the value of your property or condominiums provided they are well done and well-targeted! Before installing a “for sale” sign on your property, you might want to spruce up your home a bit, especially if you’ve been living there for several years.
7 Tips to Increase The Value of your Property
Painting interior walls
To rejuvenate the interior of a property, there is nothing better than a good coat of paint! Fairly easy to perform and quite affordable, painting jobs offer a return on investment that can reach 100%.
When painting the walls of your home or condo, opt for neutral colors, such as shades of white or gray. Even if you like pink or yellow, avoid choosing colors that are too bright: they are no longer up to date and risk darkening your rooms.
If you do the work yourself, be particularly careful when cutting. Drips of paint on the ceiling or on the floor will make your property look neglected.
Rejuvenate the floor
Is your floor still covered with shag rugs? Has it been removed without delay by professionals? In addition to reducing the resale value of your property, the carpet is known to be a source of allergens and dust, which may scare away families with young children.
Instead, choose hardwood flooring, maple or bamboo, for the living room and dining room, and ceramic tiles for the kitchen and bathroom. Very affordable, laminate flooring is often tempting, but in many cases, it has little effect on resale value.
Repair or replace windows
Often set aside during renovations, windows usually offer a return on investment of 50 to 75%. Between two similar properties, buyers will favor the one with impeccable windows.
New or well-maintained windows reduce the amount of the electricity bill, rejuvenate the exterior of the property and make life easier for the occupants.
Generally, windows have a lifespan of 15 to 25 years. If your windows fog up, leak, or are hard to open or close, get them fixed.
It is impossible to repair them or does it cost too much? Consider replacing them before putting your property up for sale. Windows in poor condition will decrease the value of your property.
To enhance your windows and let in as much light as possible, remove unnecessary curtains or sheers. Opt for a lightweight window treatment instead.
Modernize the exterior
If you want to entice people to visit your property, the exterior must be immaculate. Changing the exterior cladding can be a good solution, but this renovation may cost you quite a lot.
Is the siding aluminum or vinyl? If it is not damaged, you can simply paint it using a paint designed for this type of coating. Choose an up-to-date color and avoid overly eccentric shades.
While you’re at it, apply a few coats of paint to the balcony, fence, and shutters. If the front door is in good condition, do not hesitate to repaint it. Otherwise, it is better to change it.
Since it is more complicated to paint the exterior than the interior of a property, it is better to entrust the task to professionals.
An outdated bathroom often knocks a few thousand dollars off a property’s value. Before you put your house up for sale, make sure the room is functional and up to date.
Do you have a budget of $7,000 to $10,000? You can completely renovate it provided you do not use materials that are too luxurious. For example, replace the old yellowed bath with a freestanding tub and separate shower. If your toilet is malfunctioning, replace it with a newer model.
Your budget is limited? Focus on faucets, fixtures, handles, and countertop. Sometimes these little jobs are enough to rejuvenate the bathroom.
Add storage spaces
Buyers are often looking for lots of storage space. Before putting your property up for sale, make sure your closets are functional. Do some of your bedrooms have no storage space? Create some!
If building wardrobes is impossible or too expensive, get smart furniture, like wardrobes, the height of your walls.
Refresh the kitchen
Equipped with a modern kitchen, your property will stand out from the competition. With a budget of $15,000 to $25,000, you can easily renovate your kitchen from A to Z. This figure may seem high, but know that it is one of the most advantageous renovations to do. You will recover 75 to 100% of the sums invested.
Your budget is a little more limited? Focus on the most important elements: the sink, faucets, light fixtures, counters, and backsplashes. For the cabinets, some companies also offer to repaint them or install a new coating, which makes it possible to rejuvenate them inexpensively.