Whether you're looking to increase your property's appraisal value or just improve your living space, getting started on home improvements can be a daunting process. With housing prices increasing, there is no better time than now to invest in your Nanaimo home and capitalize in its value. Even though this is an ever-shifting market, one thing always remains true: there are certain elements in your home that can greatly increase property value with simple renovation or design changes that you can easily tackle.
You're likely asking yourself, "How do I prioritize home improvements that will increase the value of my home, without breaking the bank?" The answer is to focus on projects that will pay up to five times the original cost.
Here are five ways to maximize your Nanaimo property value in time for the summer selling season:
As the saying goes, you only get one chance to make a first impression, so whether it's an appraiser or a buyer who's looking at your home, you want that first impression to be a good one. Start by breathing life into the front of your home with a fresh coat of paint, clean the outside of your windows, and power wash your driveway.
Turn your attention to the lawn and landscaping. Fertilize your lawn to make it full and green will go a long way, just don't forget to keep it cut! Next, spend a little time in the garden picking weeds and pruning back any shrubbery. A well maintained lawn and garden compliments the exterior of the home and sets the expectation of how the interior of your home is kept.
Let There Be Light
Lighting is sometimes an overlooked, yet very important aspect of your home. Nothing kills a mood faster than bad lighting, so making sure you show off your home in the best light will serve you well. A quick and affordable solution is to install light-control dimmers that not only create drama and ambiance, it's also good for energy efficiency.
Natural lighting is becoming increasingly important to home buyers and plays a big role in your homes desirability. Let the light in by keeping your windows clean and ditching any light-blocking window treatments. You can also maximize the light in your home by hanging mirrors on adjacent or opposite walls to your windows to reflect light and give the impression of more windows.
Upgrade Your Flooring
Hardwood flooring often results in an immediate rise in your property's valuation, whether it's newly installed or you've refinished existing hardwood. Keep in mind that some people prefer carpeting as it helps to reduce noise in other rooms and provides a softer, warmer surface to walk on. By strategically placing an area rug or two, you can satisfy both flooring desires.
Take the time to repair broken tile, patching damaged floor boards, or fixing that distracting squeak. It's estimated that the installation of hardwood flooring or tile can have a return of roughly five to six times the initial investment.
Focus On Rooms With High ROI
If you want to dramatically increase the value of your home without spending a large amount of time or money, focus your efforts on the kitchen and bathroom. The kitchen is the single most impactful room in the home when it comes to valuation, making it crucial to keep up with modern, fresh designs and appliances. Replace or upgrade cabinet hardware, countertops, and faucets for immediate results that are simple and revitalize your entire home. To save on cost without compromising construction and desirability, look at options like Ikea cabinets in lieu of custom.
The second most impactful room of your homes valuation is the bathroom. Having at least one three-piece bathroom can result in a dramatic increase to your homes market value. Replace frosted glass for clear, update door knobs, replace the faucets, and install low-flow toilets for cheap and easy fixes that result in big ways. With a little sweat equity, you can make your bathroom look new again by cleaning the grout and removing any rust stains that have formed over the years.
Make Your Home More Energy Efficient And Future-Proof
Energy savers make your house more desirable, so go for the green updates. Make sure all your doors and windows have proper seals and replace the lighting fixtures with more efficient LED or CFL light bulbs. These green updates often result in decreased utility bills and tax credit savings, causing your home to make it to the top of any home buyers list.
Focusing on your home's livability in the future will ensure your home is attractive to home buyers and increase its value moving forward. Many of today's energy efficient upgrade are the first step to moving toward a technology smart home with automated controls over heating, lighting, air conditioning, and alarm systems. You may want to consider internet and data consumption if you're considering an upgrade in the wiring of your home and how requirements and technology may change in the future.
If you're thinking about selling your Nanaimo home, get in touch with on of our selling experts or give us a call at (250) 585-2601 today! Our team will help you get on the right track, making sure you get the most value for your home.