Renovating To Sell Your Home

Posted by Rod Thompson on Wednesday, August 15th, 2018 at 11:18am

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Renovating To Sell Your Home Tips From RenovationFind  Home improvements can do a lot to market your home for sale. Not only can some home renovations increase your property value, it will also increase interest among potential buyers. Home buyers are first attracted to the way your home looks in it’s listing and some are more likely to make an offer if they feel the home is ‘move in ready’. Renovating to sell your home is a much different process than renovating to enjoy living in your home for the next several decades. Spend too much money and you might not recoup your costs. Spend too little and your upgrades can look cheap or like they’re covering something up. So, the general ground rule when renovating to sell is to not spend more money than you can make back in the sale. Keep in mind that spending a little extra could actually speed up the selling process and get offers on or above your asking price, which has its own value and could be worth the investment.

Where to spend the renovation dollars:

The Appraisal Institute of Canada surveys it’s members and has found that kitchen and bathroom remodels have the highest return on investment. Not only will they see at 75 to 100% payback, the kitchen and bathroom are the first rooms potential buyers will check out when viewing your home. Even making simple updates to these rooms like new door knobs, resurfacing cabinets or replacing fixtures can be beneficial. Improvements that have a long life expectancy will also increase resale value. New roofing, high efficiency furnace, updated insulation, new windows and doors give buyers peace of mind knowing they won’t have to spend money on updates on these items for another 10 to 15 years. Inexpensive improvements and replacements can greatly improve the look of your home and should not be overlooked. A fresh coat of paint is the easiest and most affordable way to give your home an updated look. Modern light fixtures, new hardware on your cabinets and even new interior and exterior door handles can go a long way without costing much.

Renovators beware:

Do not go overboard! Research the market, your neighbourhood and how similar homes are performing on the market. Some home improvements might be too over-the-top for your market and might not recoup their costs. Your investment might not be recognized by home buyers who are interested in that particular market. Be careful not to be too unique with your features. Something you might love, might not fit in with the general style buyers are looking for. If you are unsure, ask your Realtor. They will know your market, what buyers are looking for and can you sound advice on how to best improve your home for your specific market.

Hiring a renovation company you can trust:

If you are hiring a general contractor in Edmonton, you want to do your homework and make sure they’re credible and will do quality work. RenovationFind is a free online directory of pre-screened trades, renovation companies and general contractors that have gone through a stringent accreditation process. They’ve passed financial and legal checks, have valid insurance and business license and are continually monitored to ensure they meet accreditation standards. When you hire a company from RenovationFind, you know they have a proven track record for quality workmanship, customer services and honest, reputable business practices. Learn more about RenovationFind at www.renovationfind.com.

 

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