How can Renovation help to enhance the value of your home?

Value of your home

Every home needs renovation after a few years, but many people carefully keep their homes neat. But when the need comes to sell the house for investment purposes or any reason, Home renovation plays an important role. We are not in support of spending a lot of money installing fancy carpets, rugs, curtains, and furniture. You can apply low-cost improvements to increase the value of your home. First of all, you need to determine what requires change or maintenance. Sometimes a little change can bring significant outcomes, so analyze your home briefly. Please make a list of the things that required maintenance and then make the budget according to them.

Many things will never give you any benefit but only helps in decoration. For example, if you purchase expensive decoration pieces or even a chandler, it will never give you recovery. You must figure out the investment that can give you a recovery of at least 50% of its original cost.

Improvements that can enhance the value of your home:

When we talk about renovation, many things come into our minds, but the budget can’t make everything possible. So, the wise way to start renovation is to choose the basic things or areas that require extra care. For example, kitchen and bathroom areas are the most useable places, where you can make small or big changes according to the budget.

You can install a new cabinet, kitchen counters or flooring, etc. These are some suggestions that you can utilize, and they are beneficial for your home as well. If we talk about the bathroom area, you can renovate it by installing a new bathtub, wallpapers, flooring and luxurious bathroom accessories. The kitchen and bathroom renovation can recover 50 to 75% of the investment that you have made for home improvement.

Low-cost improvements that can recover your money:

It is said that a good renovation can enhance the house’s value. So, it is essential to do the right thing, and for that, we require assistance. We suggest taking advice from an expert like Global Homes and taking the right decision for your home renovation.

In the real estate market, a clean and fine home is more valuable than one located in an expensive area. If we talk about the low-cost improvements that can recover your money, there are a few options that you can utilize, and they are as follows:

  1. Paint your home or at least the major interior and exterior walls, so they look clean and attractive.
  2. You can install new wallpapers and renovate the interior walls with colourful wallpapers.
  3. You can visit the local market, where you can purchase cheap rugs, curtains and even affordable furniture that can add value to your home.

Moreover, if you already take care of your home and maintain it, you don’t need to make extra efforts to increase the market value of your home.

Other renovation options:

According to The Appraisal Institute of Canada, the highest return on investment that you have made in the form of renovation is the following way:

  1. Work in the interior, including kitchen and bathroom
  2. Exterior painting
  3. Install new windows and doors
  4. Work on natural light or another lightening way
  5. The new cabinet, flooring, curtains installation etc

Try to prioritize the most pressing work that can be a secure investment. Another smart renovation tip is to work on energy-efficient renovation because, for the lower part of the initial cost, the government of Canada offers financial assistance and tax credits. If you require further assistance, Global Homes is always available. Contact us and get the best piece of advice for your home.

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