Home renovations are the best way to increase your property’s market value in Toronto. When it comes to renovating your property, even the little things can turn your house into a winner. Granted, most of the renovations won’t give you a 100% return, but your efforts will make your house more appealing and attractive to buyers.
After living in one Toronto house for over a decade, you need to renovate before selling for better value and buyer attraction. But what home renovations will bring top dollars and what to avoid doing for your house. If you are not sure of the changes to make, call ALBO Renovations, we work with many real estate agents and investors to upgrade and renovate their investment houses.
Here are the simple renovations that will boost your home resale value and make it easier to sell.
Basement Renovation
If your basement is not complete, you definitely need to finish it to increase value of your home. This is the first home renovation that draws attention and can be your major selling point. If you have your basement renovated as legal apartment unit and it brings extra income you may have struck gold. To fully renovate your 800 feet basement top to bottom with good quality finishes it may cost you up to $50,000 but if it brings up to a thousand dollars per month of extra income it will raise home value by almost $100,000 at selling point. Get professional advice from ALBO home renovations about how to make it legal apartment and get all inspections approved.
Kitchen Renovation
Modern kitchens in renovated house is the first thing people pay attention to. If your kitchen is outdated and is falling apart you need it to start shining again. One of the big mistakes homeowners make is going too far with kitchen remodeling with renovating house for sale. It does not have to be custom piece of art that will run you over your budget. Expensive kitchens are usually done for houses owners want to live in as do not give back 100% return on investment. For your sale you should not spend more than $25,000 to $30,000 for your kitchen renovation and new appliances. You should be fine with average size kitchen, backsplash with tiles and energy saving appliances.
Bathroom Renovation
There is nothing better to underline house master bedroom than renovated or even better expended bathroom. Once again ALBO home renovations suggests not to go crazy and install Jacuzzi or flat screen TV in your bathroom because it will not pay off. Utilize space and make your bath look good but very functional. Adding extra washroom is very popular and is calculated to bring from 130% to 150% of your initial investment. To perform a home renovation in older Toronto house our suggested budget is around $25,000 for renovating master bathroom and adding one new bathroom in the house. Make your home more appealing and modern by hiring designers or simply experienced renovation contractors like ALBO Reno.
Entire Home Renovation and Remodelling
Depending on the condition of the house you are trying to renovate and bring back to life, you may be spending from few thousand dollars to a hounded (in worst case scenario). From sufficient changes and upgrades you may need new flooring, stars fix and upgrade, removing walls for open concept, adding washrooms and renovating kitchen. There are also little things that are not though about by homeowner, which are baseboards and trims for the door, repainting walls, changing lights and replacing windows. Average 3 bedroom house full renovation in Toronto in 2015 made homeowners spend $60.000 to increase value make it look more pleasant. Consult with professionals before making a move on the market for necessary home renovations and upgrades.
Adding a Deck or Patio
There are situations when you cannot add any more usable space inside of the house and everything from basement to top floor has been renovated recently. The simple solution to increase you home value by adding more space is building a deck or patio on your backyard or any other side of the house, depending on positioning. Simple deck will increase enjoyable space by a hundred squared feet or two. Suggested cost for deck or patio addition on your backyard as home improvement should be somewhere near $15,000 and will get you return of 150% if sold. Our workers are experienced in this type of projects and should finish your job in no more than 10 days.
Energy Sufficient Doors and Windows
With everything and everyone going green today, one of the popular upgrades in Toronto is replacing doors and windows. Condo builders have done their research and make more condo buildings almost see through. The idea is to add more light to the house and save money on electricity. The average savings are close to 15% on your bill and in a larger house in Toronto you can save up to $500 per year simply by replacing your doors and windows. To have this type home renovation in GTA you are looking to spend around $4,000. This will increase your home value by more than you spend with professional contractor like ALBO. Call us today and get special price for all appliances with you home renovation.
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