The Best and the Worst Home Updates

Posted: October 16, 2012 in General Information, Sellers
Tags: , , , , , , ,

More and more of us see the investment in our homes as one that needs to be maintained and upgraded on a fairly regular basis. But do you know what are the home improvements that can increase your investment and which ones are a definite money pit? Here’s a short list of the most popular ones:

Top Renos
In the list of top renos kitchen and bathrooms take the top of the list as the rooms that will add value when the renovations and upgrades are done. Remember the “Keep it simple” adage. Clean lines, neutral decor, upgraded accessories will net you more. The kitchen does not need to be fully gutted and redone to get more value. Your budget of course will decide what you are willing to spend in the process but also consider the value of homes in your neighbourhood. Adding a $100,000 master chef kitchen will not net you more in a mid range priced neighbourhood. Do your homework first. Not all kitchen floors need to be ceramic or hardwood. Shop around and compare products to see if a quality laminate would work or even the Congoleum’s DuraCeramic line which combines the look of a tile with the convenience and durability of sheet flooring. Keep in mind though that  most buyers prefer hardwood, stone, bamboo or cork over laminates and vinyl, as some types of laminates and vinyls look cheap and fake.

Grand Hotel Look
Give the bathroom the grand hotel look by simply using white or cream towel sets, pretty soap and hand cream display, a clean but non intrusive candle or air freshener and maybe even new knobs to the cabinets. Sparkle clean is the bathroom’s primary aim here over major renovations. Nothing turns off a buyer faster than a dirty and smelly bathroom.

Carpeting & Wallpaper
Wall-to-wall carpeting is now viewed as a liability by many home buyers especially when it comes to pets, allergies and easy cleaning routines. Wallpaper and over painting designs can also be a liability. Clean and neutral colours with small accent colours will be more enticing to buyers.

Toys & Over the Edge
When it comes to big price items such as hot tubs and theatre sound systems be aware that these might be attractive to some buyers but the majority sees them as energy guzzlers and gadgets. The same apply for over the edge appliances such as extra-large – almost commercial size stainless steel fridges or double dishwashers. The regular size stainless steel appliances might be worth an extra premium over the white and black appliances but not always.

Architecture & Landscape
On the architectural side, a renovation to change a three bedroom  into a two bedroom home will net you less money and the same apply for a swimming pool which will attract a specific buyer but they will not recoup on the extra cost. It will also limit the number of potential buyers interested in the purchase of  your home. For those buyers looking to buy a home with a pool, an inground pool is most preferred over an above ground pool but don’t go out of your way to have one installed if you don’t already have one as you will not recoup the cost.
Selling your home is a lot more than just putting a sign on the front yard. There needs to be ample preparation time and a marketing plan that works. Seller or Buyer…Call Dale Dyer for proven  innovative and high-tech marketing.

Advertisements

Comments are closed.