Published on 28 December 2017 in BlogHomeowner TipsOttawa Realtor by Jenn Chamberlain
Last updated on April 13th, 2023 at 03:38 pm
When deciding what renovations to do inside your home to add the most value, you need to figure out what areas will reap the most rewards. Many people think the kitchen and bathrooms will add the most value, but you would be surprised. Often times it’s the materials that make all the difference and sometimes you need to weigh the upfront cost with the long-term benefits. If you’re looking to make a new renovation, read below on some choices that can help you get the greatest return.
Choosing Between Steel Doors Vs. Wood
One high-yielding investment is a new door. Your front door is the focal point of your home, and having an attractive yet low-cost upgrade can easily increase your resale value. When considering steel vs. wood, steel will bring you a much greater return. Steel is known for being both long-lasting and sturdy, but it’s also an excellent energy-efficient option and requires little to no maintenance, making it a superior choice.
How Energy Efficient Brands Can Attract Buyers
As energy bills soar, investors and homebuyers are looking for ways to cut back on energy usage and costs. Installing energy-efficient appliances in your kitchen, laundry room and bathroom will attract energy conscience shoppers. New windows can also be added to replace energy-squandering ones and to upgrade the look and design of your home. Look for Energy Star products that are guaranteed to cut your bills down dramatically.
Why New Insulation Has The Highest Return
Not something most people spend a lot of time thinking about is the insulation in their homes. But if you don’t have quality insulation you will be throwing money down the drain on heating and cooling costs. One of the greatest returns on your investment is fiberglass attic insulation, which often produces a return over 100%, thanks to the low cost of installation and reduced costs to your energy bills. Now that should be something to think about.
Deciding On A Basement Remodel Or New Addition
Your unused basement can really push up your home’s value with a simple remodel. New carpets and fresh paint, can be easily added for little cost. And if you finish your basement with an added bedroom, or entertainment area buyers will see it as the potential for rental income or an area for other children or family. A new addition is also an attractive option, but it takes a lot more money to add a whole new section to your home instead of upgrading it.
When looking to increase your curb appeal, simple and high-yielding renovations are the way to go. If you’re having difficulties choosing between renovation options, talk to professional Realtor®. who knows everything there is about property investment.