October 5, 2013
If you’re thinking about selling your home, I’d bet you’re thinking about which changes you should make to get the bet selling price possible. Be careful before calling in those contractors and busting out the chequebook though – not all home renovations are created equal if your goal is to increase resale value.
If it’s Return On Investment that you want, here’s your wish list:
A modern kitchen
Buyers fall in love with the kitchen first. If you spend in the kitchen, you’ll see the ROI – simple as that. So if you can, invest in a granite countertop, a fresh coat of paint on the cupboards, and modern natural stone or a untique tile backsplash. When your potential buyers come walk in, they’ll have their breath taken away! Even if they aren’t much of a cook, they’ll be fantasizing about all the great dinners and parties they can host with the kitchen. It's part of the crucial component of getting the buyer to visualize themself living in your home.
A finished basement
Even in a seller’s market, differentiating yourself from other homes on the market is critical because every additional bid is money in your pocket. One of my favourite ways to help clients set themselves apart is to finish their basement. It creates an entire floor of useable space that can suit whatever purpose the buyer has in mind. For them, it’s an office, a man-cave, or a yoga studio.
A bathroom to envy
We shouldn’t get as excited about amazing bathrooms as we do. But I’ve seen it over and over – buyers that seem generally uninterested in a house until they see the master bath. There is something about subway tiles, soaker tubs, glass showers and tiny soaps that starts bidding wars like nothing else in the home. If you’ve ever been to a great spa, you know how welcoming and relaxing that feels, right? That’s what you need to go for in your bathroom, and don’t stop until you get it.