Best Ways To Increase The Value Of Your Home
We’ve compiled the best ways to increase the value of your home, without breaking the bank. If you have the time before selling, increasing the value of your home can be very beneficial.
It’s no surprise when comparing which room has the highest return on investment, that kitchens are number one. Even doing a quick face lift by painting the cabinets and switching out the countertops can make a huge difference in attracting more buyers.
Depending on where you’re located, adding a legal income suite can be very beneficial. It creates a secondary income and it increases the amount of prospective buyers. CMHC now allows buyers to use 100% of the rental income when qualifying to purchase a house which makes income suites even more desirable.
Perhaps the most obvious, cost effective way to transform your home is a fresh coat of paint in a modern colour. It’s very important to choose the right color and make sure the paint job is done professionally otherwise you could end up decreasing the salability of your house.
Although not a cheap thing to change, flooring can make a huge impact in transforming your home. To increase your rate of return, it’s important you don’t go overboard in the type of flooring you use as there are some rather expensive options. Laminate/engineered (mid to high grade) or real hardwood are the most desirable flooring types right now.
Staging and Decluttering
Studies show that only 10% of buyers are able to look past a cluttered, messy house. This means 90% of buyers aren’t able to visualize themselves living in your home. A nicely staged home allows buyers to see the full potential of the house. For little to no money, staging and decluttering can drastically increase the value of your home.