When you first see that leaky, drafty old home of yours, it might feel like there’s no saving it. Perhaps you even wonder if you’re better off just selling and investing the equity in something new. However, with the right home renovation company in North Vancouver BC, Canada, even the dodgiest old house can have great potential. In fact, many sellers are surprised to learn that some home renovations actually increase a home’s value in the long run rather than eating away at it. There are tons of different options for making your home more comfortable and functional while also upping its resale value.
One of the most obvious and most important renovations you can do is to your bathroom. While you can get by with a decent bathroom while you’re living in a house, once you start to put it on the market, you’ll quickly discover how important this space is to prospective buyers. You can expect to recoup around 30% of the overall cost of your remodel in increased property value. You can focus on improving the functionality of your bathroom with a few simple upgrades. If you have an old tub with a standard faucet, it’s likely that it doesn’t have a shower setting. Buyers will be very happy to discover that you’ve upgraded to a newer, more modern style that makes it easy to adjust the water temperature. Similarly, if your shower or bathtub is old and worn out, it’s a good idea to replace it.
The kitchen is usually the heart of any home, so it’s no surprise that renovating it can increase the value of your property by as much as 50%. While that might seem like a lot, the investment is well worth it, especially if you plan on staying in the home for a long time. Most buyers look to the kitchen first when evaluating a home, and many will rule out a house if it doesn’t have a kitchen that works for them. You don’t have to make dramatic changes to your kitchen to have a positive impact on its resale value. In fact, many kitchen renovations focus on reorganizing and optimizing the current layout and systems already in place. If your kitchen is in need of a much-needed facelift, consider replacing cabinet doors and drawers, as well as countertops. You may also want to add new appliances and lighting.
If you have a deck or patio, improving it can go a long way toward increasing your property’s resale value. In fact, you can expect to recoup more than 30% of the cost of your renovation in increased property value. Fortunately, deck renovations are pretty simple and straightforward. If your deck is in need of repair or if you want to add some extra functionality, you can increase its appeal by adding a railing or enclosing it with high-quality materials suitable for outdoor use. If you want to go a step further, you can also add an outdoor fireplace to really make your deck into a usable space.
If you’re looking for a major renovation that will really boost the value of your home, consider an entirely new floor plan. While this is obviously a drastic change, it can be well worth it. While it’s true that you can expect to recoup only 10% of the overall cost of the renovation in increased value, that’s still a pretty good return. However, it’s important to note that you’ll have to spend a lot of money on this kind of renovation, and it may not be worth it if you’re only planning on staying in the home for a short time. If you have the budget, though, and if you plan on living in this home for a long time, it’s a great investment.
Renovate Your Home!
Home renovations in North Vancouver are a great way to improve the comfort and functionality of your home while also increasing its resale value. You can focus on improving the kitchen or bathroom, adding a deck, or even changing the floor plan to help make your house more appealing to prospective buyers. While the cost of these renovations may seem high, the return on investment is worth it. Whether you plan on selling your home in the near future or want to pass it on to your children, renovations are a great way to make your house more appealing. Work with Lower Coast Building Group for a valuable home renovation experience.