4 SIMPLE WAYS TO BOOST YOUR HOMES VALUE
Whether you're looking to maximize your sale price or increase equity, there are many small projects that will boost the value of your home.
Here are a few cost-effective home improvement options that will result in an immediate return on your investment:
One quick fix that can seriously boost your home's value is paint!
A recent study by Zillow found that buyers were willing to offer $5,000 more when a home was painted in certain colours.
It seems so simple, but paint can really change the feeling of your entire home. Just imagine repainting a bright red kitchen with a cool gray. It would make the room feel totally different with just one change. And the best part? Painting a room is fast and inexpensive compared to other renovations.
When repainting your space to maximize the resale value, keep your palette to cool, timeless colours that lean more towards classic than trendy. These colours will appeal to the most buyers and make it easy for people to picture themselves living in the home.
We asked Christine Santimaw of Ramar Construction for her top neutral recommendations; "The number of whites is, truly, overwhelming, but my go-to is almost always Simply White by Benjamin Moore, a warm but true white that looks both crisp and cozy in every space. Just outside of the white family, I'm really gravitating to shades of what I best describe as 'mushroom' for both walls and cabinetry. It's a grey-meets-beige tone defined by tasteful elegance that pairs beautifully with a wide variety of countertop selections, especially creamy marbles. Favourites? City Loft and Balanced Beige by Sherwin Williams; Pale Oak, Stone Hearth and Kingsport Gray, all by Benjamin Moore."
2. Invest in energy efficient upgrades
With rising energy costs, energy efficient upgrades are a huge hit with today’s homebuyers.
We asked Karynne of Efficiency Nova Scotia for her top tips on increasing energy efficiency at home. Her first recommendation was to install a cold climate heat pump. Compared with electric baseboard heat, high-efficiency heat pumps can be up to 200% more efficient. And best of all, rebates are available through an easy-to-complete application through Efficiency Nova Scotia’s Heating System Rebates service.
She also recommended taking advantage of the Canada Greener Homes Grant and stackable rebates through Efficiency Nova Scotia. For only $199+HST, you can receive a personalized Home Energy Assessment on your home’s energy performance and customized recommendations to improve the comfort and efficiency of your home—lowering your bills and improving the resale value of your home. Rebates are available for upgrades such as:
3. Kitchen and bathroom updates
Bathroom and kitchen updates are always a smart move. Even if you can't afford a complete remodel, minor changes such as painting, replacing dated wallpaper, or replacing old light fixtures will update a room without denting your wallet. Start by swapping out just one item, such as a stained sink or ancient microwave.
For kitchens, Mark Higgins of InVogue Home Design recommends installing a tile backsplash to make your space feel larger, as well as swapping out cabinet hardware for a big impact with minimal investment. He suggests brass, gold and mixed metals for a modern feel.
More intensive updates—like replacing an outdated vanity, old plumbing, or swapping linoleum flooring for a new tile floor—will guarantee a lot of bang for your buck and give your home an updated, modern look. Mark recommends renovating the primary ensuite before any other bathroom for increased resale value. But if you're remodeling just to put your house on the market, keep it simple and neutral, because you never know what the future buyer's style is.
Real estate agents talk about 'curb appeal' for a reason. First impressions have a significant impact on the sales value of your home. Affordable landscaping and modest enhancements to the front exterior of your home can help increase its value to both appraisers and potential buyers.
When considering exterior upgrades, pay special attention to the entry points of your home. Repair or replace any damaged stepping stones, concrete paths, or pavers—then give the front door a fresh coat of paint and add some outdoor planters for a splash of colour.
Shrubs and colourful plants will add curb appeal to any home. The Gardener Halifax suggests giving existing gardens an update by adding evergreen shrubs or perennials that are native to your region with appropriate sun and water requirements. If you're looking for a quick update to existing gardens, add fresh dark-coloured mulch shortly before you list your home to give your yard a tidy feel.
Getting your home ready for sale can be overwhelming. If you have any questions or you'd like to book a consultation to discuss the best options for your home, send me a message or comment below. I'd love to chat about how you can get the best price for your home.
Real Estate Advisor based in Halifax, Nova Scotia. I help people buy and sell homes with Engel & Völkers.