This is the time when we advise our clients to start thinking about updates to their property. Though the new year may seem far away, it's in your best interest to have renovations and upgrades finished by the time potential buyers begin visiting in February.
Our team is always available to help you decide which renovations will give you the best return on your property, and Stewart Blair at the Canadian Budget Binder has given his recommendations for little touches that have a big impact:
- A fresh paint job: "This is an inexpensive way to freshen up a home and it can dramatically improve the look and feel of a space at a low-cost."
- Sprucing up the kitchen: "Potential buyers are picturing Thanksgiving and Christmas dinners being prepared with family or hosting dinner parties with friends. You need to make the kitchen as desirable as possible."
- Finish the bathroom: "In my experience a beautiful mirror and hardware upgrade can make the world of difference."
- Focus on flooring: "Upgrading to hardwood in the living areas and ceramic in kitchen and bathrooms can have a dramatic effect on a home’s value."
- Upgrade your light features: "Potential buyers do not want to be straining their eyes to look at your home. Make sure it is bright, warm and inviting!"
- Make a good first impression: Boost your curb appeal! "Make sure your front lawn is tidy and gardening is minimal."
The following ROI (Return On Investment) chart provided by Mr. Blair can help you conceptualize cost vs. return on some common home renovations.
Home renovations are an essential part of listing a property, and though they can seem stressful and expensive, we're here to help you figure out the best ways to invest wisely in your home and reap the rewards in the future--just like planting bulbs in the fall so you can enjoy the garden when springtime rolls around!
And to get you started, we're happy to provide you with a coupon for 5% discount on most purchases at RONA Home & Garden! Just print and present, and RONA will make a matching donation to REALTORS Care® Foundation.