When it comes to pre-sale home improvements, the big question is which updates have the greatest impact on a home’s value? This is important because you don’t want the cost of your renovations to eat into your profits. The key is to focus on improvements that potential homebuyers are willing to pay for. Wondering what the most profitable pre-sale home improvements are in Canada? Let’s take a look at 4 improvements that add value to your home!
Replace Old Windows
If your home’s existing windows are drafty and visibly worn, then investing in energy-efficient replacement windows is a good pre-listing project to take on. If you don’t have the budget to replace all of the windows in your home, or if some of your windows are in fairly good shape, then only replace those that are in dire need.
Fix Your Flooring
Updating the flooring in your home is a big investment. However, this is one of the pre-sale projects that really pays off, in terms of how much buyers are willing to pay. If your home is presently appointed with wall-to-wall carpeting, switching to hardwood prior to listing is a very good idea. Not only do homebuyers love hardwood, but carpeting tends to exasperate respiratory irritation in allergy suffers. You really don’t want to give them a big reason to pass you by.
Upgrade Your Kitchen
Homebuyers love to see beautifully updated kitchens. So, if you’re working out your improvements budget, be sure to allot a good size portion to your kitchen upgrades (if you haven’t already upgraded your kitchen).
Don’t have a big budget? There are several high impact improvements you can make without taking on a full renovation. If you can’t replace your cabinets, have the existing cabinets refaced. If quartz and granite exceed your price range, look into some of the new (and very beautiful) laminate countertops on the market.
Add Life to Your Landscaping
Make the best first impression possible by optimizing your home’s curb appeal. This doesn’t only mean keeping your lawn and garden in good condition, but also your front door, garage door, driveway and walkway. If you have an extensive garden, no matter how well-maintained, you might want to pair it back, as potential buyers may be intimidated by the upkeep.
Paying for Your Renovations
Before you begin any home improvement projects, it’s important to take time to work out your budget and decide how you want to pay for it all. Home improvements that you are estimating to be less than $5,000 can typically be covered in cash or on a credit card. However, when it comes to larger expenses, a line of credit is a convenient, cost-effective way to make the improvements you need.
Want to lean more? Talk to your bankabout financing your home improvement project, today.
–Explore eieihome.com for more articles about home improvement, to read contractor reviews or to find local home improvement professionals.