If you're preparing your home for sale, there are certain improvements that are definitely worth their cost in helping to attract more buyers, sell your home faster, make back most (or all!) of your investment, or even increase the value of your home. We asked Toronto agent Matt Dawson of Chestnut Park Real Estate about what he sees as the 10 best upgrades you can make to your home, whether you're selling now or later.
1. Low-maintenance landscaping. No question that shrubs and colorful plants will add curb appeal to any home, but when shopping at your local garden center, make sure that you "think green." Purchase plants that are native to your region or plants that are drought-tolerant; these require less water and maintenance, which means more savings to you and more green in your wallet so invest early in landscaping. A beautifully landscaped yard with gorgeous, mature shade trees can be a big selling point, but you'll need to allow for at least several years of growth to make the most of your investment. Make planting a priority early on, and be sure to seek out expert advice on the proper placement and care of your trees and yard.
2. Minor kitchen renovations bank the biggest return. If your kitchen is fairly current, you may want to leave it alone — remodeling a kitchen comes with a hefty cost, and you may only be able to recoup around 65 percent of your investment. Smaller updates such as painting or refinishing cabinets that are still in good shape, or upgrading to Energy Star appliances, can refresh your kitchen's look at a fraction of the cost. For a few hundred dollars, you can replace the kitchen faucet set, add new cabinet door handles and update old lighting fixtures with brighter, more energy-efficient ones.
3. Paint, paint, paint. One of the simplest, most cost-effective improvements of all is paint! Freshly painted rooms look clean and updated — and that spells value. When selecting paint colors, keep in mind that neutrals appeal to the greatest number of people, therefore making your home more desirable. On average, a gallon of paint costs around $25, leaving you plenty of money to buy rollers, painter's tape, drop cloths and brushes. So buy a few gallons and get busy!
4. Add new energy-efficient fixtures. A functional, decorative ceiling fan is a beautiful thing. It provides necessary light and, in warm months, creates a soft breeze reducing the need for expensive air conditioning. But, an outdated, wobbly, loud or broken ceiling fan is a useless eyesore. Replace old fixtures with new ones to make your home more enjoyable for you now and to increase the bottom line should you decide to sell. Read our insurance blog for more ideas!
5. Upgrade your appliances. Eighty-six the old-school appliances for sleek new energy-efficient ones. An appliance with an Energy Star label has been certified by the government to use 10-50 percent less energy and water than conventional appliances. Matching stainless appliances will not only look great now, but will make your home shine brighter than the competition should you decide to sell.
6. Brighten up. A "bright" way to increase the value of your home is to lighten up. Adequate lighting in a home makes a big difference. Not only does a bright, well-lit room feel more cheerful but it also makes spaces feel larger and cleaner. A well-lit room also shows that you have nothing to hide, so should you decide to sell, prospective buyers will feel at ease when touring your home. Hire an electrician to add recessed lights to a dim kitchen or family room or to brighten up a formal dining or living room with elegant sconces. You'll enjoy the bright effect now and your home will feel warmer and more welcoming to homebuyers.
