Maintain or Increase the Value of Your Home
Why Improve Your Home? Home Improvement Projects That Add Value to Your Home and/or Maintain its Value
What are the best home improvement projects to undertake? It depends on your goals and plans. If you’re trying to sell your property, your priorities will be different than if you’re planning to stay for a few years and want to improve your family’s quality of life.
Longevity & Curb Appeal
If you just want to maintain your home and make small improvements to keep it up to date, the exterior presentation of your home is very important to ensure its longevity and maintain its curb appeal:
Stain Exterior Wood Structures
1. Exterior wood structures should be stained or painted every few years to prevent exposure and damage from the elements.
Maintain siding, fascia, soffit, and roofing
2. Old, loose, or damaged siding, fascia, soffit or roofing can lead to water penetration, ice damage, mould and mildew.
Protect parging, caulking, windows, and doorways
3. Cracked parging, caulking, or damaged window and doorways also allow water to penetrate the home or basement and contribute to larger problems if left alone.
These problems develop over time but are often not noticed until major damage has occurred, damaging the inside of your home. Maintaining your home should involve an annual inspection and even small repairs should be dealt with in short order to prevent the need for major, costly repairs that add no extra resale value to your home.
If maintenance is not an issue and you’re selling your home for top dollar, we recommend focusing on home improvements a buyer would be most likely to undertake and that you can recover at closing. Focus first on the areas of your home that need updating or restoration. Kitchens and bathrooms that have not been remodeled for ten to fifteen years will significantly impact new buyers decisions, as they will see it as a future cost to owning the home. In these cases, you can easily add more than the cost of a kitchen or bathroom renovation to your home’s market value; and don’t forget to upgrade fixtures, appliances and décor in these rooms, as the added extra cost will be more than worth the return!
Top 10 Home Improvement Projects
Here are ten home improvement projects Bates Home Improvements can complete for you to add value to your home:
If you’re only going to do one thing, paint. Painting can clean up and brighten outdated spaces quickly and affordably. Choose tasteful, current, neutral colours.
2. Kitchen Remodeling
When remodeling the kitchen, remember to keep the project in line with the style and quality of the rest of the house and neighborhood. An intelligently planned kitchen improvement is an investment, not a cost – but there is no point in putting a pricey granite countertop on dated-looking 1970s cabinets, or in installing a $50,000 kitchen in a $200,000 house. We can offer expert advice to ensure your kitchen improvement is a great success.
3. Bathroom Addition
If your home has only one bathroom and is meant to house more than two people, a bathroom addition should be one of your top priorities. If most homes in your neighbourhood have two, three or more bathrooms, and yours has just one or one-and-a-half, you will definitely increase your property value by adding a bath.
4. Bathroom Remodeling
Upgrading a bathroom will enhance the value of your home and can add to your daily comfort and enjoyment. Proper planning and design are the keys to bathroom improvements success and just like kitchen remolding, should result in a net gain in home value.
5. Finishing unfinished spaces
Useable space matters! Increasing usable square footage without having to build a new structure is a great, cost effective way to increase your home value. Whether it’s an attic, basement, garage or closet space – finishing these spaces can add significant value to your home.
6. Window/Door Replacement
If your windows or doors are wasting energy or simply outdated, replacements can be an excellent use of your home improvement dollars. Adding light in main living spaces can make the space look bigger and warmer.
7. Deck Addition/Improvement
Decks are one of the few exterior improvements with any significant return, apart from painting.
8. Additions of bedrooms, family room, etc.
Increasing square footage will increase home value, as long as the expansion does not take away too much of your home’s outdoor space.
9. Home Office Remodeling
This project is becoming increasingly popular and more and more home buyers are looking for homes with completed home office spaces. Be sure to plan for plenty of electrical and cable outlets to accommodate all the required home office equipment.
10. Energy Efficiency Retrofits
Focus on the items that have the fastest rate of return such as improved insulation and high-efficiency furnaces. Insulation and air circulation solutions like caulking, ventilation upgrades and energy efficient windows and doors are still the best value for your dollar here.