Property renovations – two words that involves a lot of thought, workmanship and investment. Home owners go through a time of deliberation to figure out whether they are ready for a renovation, are they able to afford a renovation and what it the outcome the should be seen after renovation. This can be a tedious process but another question that needs to be answered is : “How will this renovation boost the value of my property?”
According to a survey conducted by “Royal LePage real estate experts” – a kitchen renovation has the potential to boost a property’s value by over 12.5% while a bathroom renovation can boost a property’s value between 2.5% and 12.5%. Come to think of it – potential home buyers usually look for a space that they can grow into. Areas such as kitchens, bathrooms and entertainment/living rooms are often the go to factor for home buyers.
Here are some important factors to consider to increase the value of your property with renovations:
Beauty – Over time trends change. What could be great now may change a decade from now. Adding a splash of new fresh paint in a trendy or contemporary color makes a massive difference to the beauty of your home.
More Space – Usually this would mean taking down a wall to accommodate for more space, however small changes such as a new kitchen cupboard design and layout can make a massive difference to your kitchen. With new technology we at Andros are able to offer Canadians innovate space saving designs and layouts.
Energy Efficiency – Swap out old light fittings for new more efficient ones.
Updated Systems and Appliances and Technology – Newer appliances such as fridges, stoves, ovens etc have an appeal to prospective buyers. Not only will you reap the benefits of using these new items but they often add to the appeal of your home. Swapping out the old for something new shows prospective buyers that you have been up to date with maintaining your property. Thus resulting in the belief that they will not have to do much renovating once they purchase the property.
It is important to note that your renovation should be well executed by professionals (such as Andros) to ensure that you reap the benefits of the renovation.