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Top Home Renovations that Pay Off

Fixer Upper, Property Brothers, Flip or Flop, and Great Canadian Homes are just some of the many home improvement shows on HGTV that can really entice anyone to renovate their home.

If you are considering selling your home in the near future there are a few things you should consider before you put your house for sale on the market. This starts with deciding whether or not you are interested in renovating your home to help increase your property value.

So, to help you get started, your local Oakville mortgage brokers with Loewen Group Mortgages have listed the top home renovations that pay off when you sell.

#1: Kitchen and Bathrooms

When buyers come to view your home, most of the time, the first thing they will notice inside is your kitchen. Someone can immediately tell if your kitchen is modern and whether or not you put a decent amount of money into this area. They can also see the same thing in your bathrooms. So, if you decide to renovate, updating your kitchen and bathroom should be the first thing you do. Most sellers make at least 100% return on investment when they update these areas, so don’t be afraid to put a little money into this project.

#2: Curb Appeal

You should definitely consider updating the outside of your house. This includes touching up any chipped paint or putting in a new garage. Also, if your grass has died or your flower beds need some tender love and care, it will be beneficial to lay down some new sod or add some fresh mulch to these areas. Updating the exterior of your home is important because this is your home’s first impression. As soon as buyers see your house from the street they will either feel invited or deterred based on the exterior, therefore, freshen up the outside to help your home sell quicker.

#3: Expanding Space

If your home is really old, you may have trouble getting a lot of natural light within your house, therefore, you may want to consider adding an open floor plan. This means knocking down some unnecessary walls to help expand your space and open up your rooms. In doing so, you will most likely appeal to a wider group of buyers and could receive more bids on your home.

Contact Us

If you are interested in finding out about more home renovations that pay off or maybe you would like to know about different Oakville mortgage options available, please contact your local Oakville mortgage lender with Loewen Group Mortgages at 416-907-3173.

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