Wednesday, May 2, 2018

RENOVATIONS FOR GETTING THE BEST ROI.

Getting top dollar for your Brantford home is almost always the bottom line when it comes time to sell. When faced with competitive markets, fewer buyers and a higher average of days-on- market – Brantford homeowners are finding themselves faced with the need to showcase their homes as the best of the best in order to attract buyer’s attention. So what is your best bet for getting the most return on your investment? While we recommend reaching out to a Sutton Team Realtor in advance to make sure your efforts aren’t misdirected, here are our top renovation tips to help you get the most value out of your home.

#1: Update the Kitchen. The kitchen is the heart of the house and is often considered the single most important room relating to home value. Aside from leaving a strong impression on buyers, this if often the room where you’ll see the most return on the investment dollars that you put in to it. If a full kitchen renovation isn’t in the budget, making updates to countertops, floors, faucets or installing an island can often transform your outdated kitchen into something much more modern and appealing.

#2: Add a Granny or Income Suite. Many families are faced with having adult children unable to afford housing on their own, as well as an aging population of baby-boomer parents, which can increase the need for a Granny or separate suite. By having the opportunity to lend assistance to a vulnerable family member, or simply to help pay the mortgage with an income property – adding a secondary suite to your home may make your home very desirable to the right buyers. If your floor plan or finished basement allows for this type of renovation, this move may help place you right at the top of the buyers’ interest list.

#3: Bathroom Upgrades. Following the kitchen, a bathroom upgrade is considered next in line for the best renovation in order to see the return on your investment. Particularly if the home only has one bathroom – the addition of a second 3-piece bath will substantially increase the appeal to potential buyers. For remodeling an existing bath to make it more modern – rain-shower- heads and soaker tubs are popular options and experts suggest that the addition of glass doors can help smaller bathrooms look more spacious. If budget is an issue, a fresh coat of neutral paint and an updated light and tap fixtures can go a long way toward creating a fresh, tranquil feeling. #4: Updated Flooring. Wall to wall carpeting is no longer a popular feature with home buyers. With concerns due to allergens, wear and tear and general upkeep – most buyers today are looking for alternative flooring options, such as hardwood, laminate, bamboo or tile. Aim to cut costs by refinishing and resealing existing hardwood floors, or look to install new hardwood (at least on the main floor) as a better option to retain your investment and efforts. #5: Refresh the Walls. One of the most cost-effective ways to improve the look and feel of your house is to repaint the walls. If you have outdated wallpaper, remove it before listing your home and choose neutral paint colours to recover and refresh your walls. This inexpensive upgrade will brighten up your rooms and provide a fresh and clean feeling – all while getting you a solid return on the money you invested to do so. Keep in Mind: While there are countless home improvements that can be undertaken when preparing your home for sale, be aware that many may take a lot of time, effort and money – with very little return. Costly upgrades to landscaping, media rooms and high end appliances may look great on the surface, but may not give you the most bang for your buck. Make sure that you connect with a qualified Brantford real estate professional for advice and do your research before investing large amounts of money into your upgrades. Contact a Sutton Team Real Estate Professional for advice!

Posted at 12:49 PM