Home Improvements worth Considering -

To sell you home for the best returns on your improvements.

When deciding to do some improvements on your home you will need to consider if these are being done for the purpose of selling your house or if they are being done for your own personal enjoyment. Some improvements will definitely reap you a higher return on the investment, while other improvements will help to get your home sold but usually will not put any extra money in your pocket.

Listed below are some items that you may want to take into consideration when you are doing these improvements for the purpose of selling your home...

Exterior:

As the old saying goes "you do not get a second chance to make a good impression". A good and inexpensive place to start is the lawn. All is takes is some labour to make some big changes, mow the lawn, dig out all the weeds, sweep the sidewalks, walkways and the driveway. Clean your windows, sweep out all the cob webs and replace the light bulbs on your outside lights, while you are at it give them as wash as well.

For a small of amount of money planting some plants and shrubs will make a big impact. Using a power washer to clean your siding will make a world of difference.

A little bit of paint can go a long way - painting your exterior door, the trim around the windows and the garage doors give a fresh and clean first impression.  Pick tasteful & neutral colours and make sure that the paint job is clean and neat.

Remember no matter how nice the inside of your home is, if the outside does not welcome you, you will not have a chance to show the inside.

The back yard is also a place where you can get a big bang for your buck - you currently do not have a deck or patio this can make a big difference in the perceived living space of the home.

Both painting and adding a new deck will give you a return on your investment anywhere from 70 - 100%.

Kitchens & Bathrooms:

The two rooms that most people pay the closest attention to are the kitchen and bathrooms. Adding new faucets and door hardware can make a huge difference in the look and feel of these rooms. 

If you have the money some good investments would be:

•-          To install wood cabinets, wood or stone floors & new appliances

•-          If you only have one bathroom, it will pay to add a second one

•-          Spacious walk-in showers are the new in thing for bathrooms, if you don't have room for both a walk-in shower and a tub in your master suite opt for the shower. Provided you have at least one tub in another bathroom.

Remember to keep the improvements in line with the style and quality of the home and the homes in your neighbourhood.

Home Office / Home Theatre:

Having a home office is becoming more and more popular as we are becoming an age of professionals who bring our work home with us, work from home or would like to have a dedicated place for the kids to do homework. When setting a room aside for this purpose make sure that you plan for plenty of electrical and cable outlets to accommodate all the electronic devices that are required. Be careful how much you spend on this improvement as the average return of investment is between 55 - 65%.

Home theatres are very popular with most people they have a sense of luxury that you can have in any home. This type of improvement involves having adequate wiring for speakers, sound proofing if possible and plenty of built in cabinets. If done correctly the return on investment for this anywhere from 60-75%

Gas Fireplace:

A fireplace is one of those fixtures that add a lot of ambiance to any room. There are many options available when deciding on what type of gas fireplace best suits your lifestyle, budget and value of your home.

General Maintenance:

Before you do any home improvements that will beautify your home, you need to make sure that your money will not be better spent on repairing or replacing an old and aging roof, furnace, or leaky basement. If you are not planning on selling in the near future you are most likely letting money go out the window if these items are not efficient. If you are planning on selling in the near future all the bells & whistles will not hide the fact that the home is not structurally sound or energy efficient.

It is important to note that most purchasers buy a home with the intention of remodelling something in the home.  The average return of investment for replacing an outdated worn roof is 65 - 80%

Painting:

If your paint is old and dated this is a job that can truly improve the look and feel of the home for a very small amount of money. Choose a colour that is neutral and something that most people and live with. There are a lot of colours that most buyers will find offensive.  If you are unsure make sure to get advice for someone at the paint or hardware store.

Garage:

Organize your garage, you will be surprised at how much space there is if you take the time to sort and store appropriately your gardening tools, bikes, hockey equipment, and tools. Showing that there is room for your stuff and for a car to park in the garage is a huge benefit when buyers are looking at your home.

There are a few improvements that will not give you a very good return on investment. Some improvements that you may not want to consider doing if your sole purpose is to sell your home are:

•-          Swimming pools

•-          Extensive landscaping

•-          Sun room / Four Season Rooms

•-          Back-up Home Generator

All of these items are very nice luxuries to have, however these are normally costly improvements that buyers are not willing to pay extra for. These improvements should be done with the purpose of your enjoyment and not for return that you hope to get when selling your home.

You do not want to over improve your home; any improvements which raise the selling price over the neighbourhood market value is a risk. Increasing the value of your home more than 15- 20 % of the average value within your neighbourhood could push buyers to look at lower priced homes.