20 Home Improvement Ideas That Will Increase Your Toronto Home’s Value
Improving your home’s appearance often affects it’s market value positively, but not everything you decide to upgrade will have as big an impact on the ones we have compiled for your perusal. There are changes that almost immediately cause a spike in your property’s market value, and some are better made to add to how much you enjoy living in your space. Either way, they’re all investments that when seen by future buyers might be the final factor that makes them pull out that pen to sign the house their way. We’re going to look into each upgrade and share some reasons why you should include them on your checklist when you’re applying for that.
Upgrades You Should Not Spend Too Much On
- Solar Installations
- Pool and outdoor amenities
- Bathroom ` install ages before
- Adding a storey
- Home Art
- Overall Plumbing Improvements
- Furniture Upgrades
You Can Add Solar Panels To Your House
Divert some of your energy requirements towards a battery system storing electricity from panels on the roof. The trend is that more homes are going green, lowering their carbon footprints while saving anywhere from a few hundred to a thousand dollars each year depending on how invested you are on the solar project. When it comes to adding value to your property, solar panels are yet to level up with other quicker returning investments. The Energy Hub Organisation estimates that you’d have to spend around twenty thousand (20k) dollars on the installation only. You can find the calculations and assumptions, or make custom calculations for your property and average usage rate on their platform.
While having a comprehensive solar system installed on your house in Toronto will afford you some savings, it simply out prises your property in comparison to the rest of your neighbours, assuming you were at par before the panels and batteries were brought along. Making it a hard sell when the time to let it go eventually comes. If you go ahead with it, it should be for your comfort and less for the purpose of sprucing the place up for an upcoming appraisal.
Installing A New, or Improving The Swimming Pool
The 2018 Canadian Homebuyers Insight indicated that first time home buyers are looking to have children and grow young families, which already does away with the need for a swimming pool from the onset. Being millennials, and at a whopping 49% of the overall homebuyers market, more pressing amenities should stand out if you’re to convince them to take your house. Sporting amenities make sense since there is a general sense of fun and fitness among the age group. An indoor pool makes more sense given the temperature climate prevalent in Toronto. No need to protract the expense list for such a home improvement project.
Consider that public swimming facilities are a more realistic option for the bigger chunk of buyers, who would rather outsource the maintenance responsibilities than buying the burden along with a house. If your house already has a swimming pool and you appreciate how that might make it harder to get snatched off the market, there are plenty of ideas you could spring from the space and turn a profit in the long run. Such as building a patio for the new homeowners to entertain their friends and family at.
Embark On A Window Renovation Project
Unless you have some broken or cracked glass panels, installing new glass panes should be out of the question. Glass, although being probably the most fragile of building materials, has a very long lifespan. That is if you leave it be. Which is a good idea even when you start looking at the finer details of your property? The most you could do when looking at the direction of the windows is a repaint of the window frames to give them a new lease of life.
Other glass fixtures, such as doors, can do with more attention when cleaning to give them that crystal clear look they had when they were put in place.
HVAC Renovation Before Selling The House
A well-maintained HVAC system lasts longer than a decade, with some stretching into the early twenties, just about the age of the people you’ll be selling the place to sometimes. While your house would most likely be very hard to reside in were it not for a properly functioning heating mechanism on cold nights and that soothing breeze when it gets a bit stuffy, don’t expect to get a higher property value just because you recently had a contractor install a new system altogether. They cost a lot, but will only stick out if the person buying your house is working on a big budget and as such, they’d rather have all the stressful upgrades done before moving in.
Home Bathroom Improvements
Since you’re probably going to be using the bathroom right up to the moment you decide to let the house go, the bathroom should be one of those projects that need very little to none effort to improve. It makes so much sense to have done this on a long term basis and actually enjoy the fresh tiles and bowls, which by the way will still look new in a year after installation.
Install new shower heads to complement the theme of the house or to go with the trends, any brass plumbing visible to the eye can be polished instead of replaced to give them that new glow. Go for comfort and efficiency rather than a splurge on an entirely new bathroom when even during the open house, the time spent in the bathroom will be less than enough to appreciate the classy basins comparable to 5-star hotel bathrooms. Some bathroom design ideas that won’t break your budget yet still enough to convince a buyer can be found on the Jaco Bam Collection on Pinterest.
A well-groomed green environment regardless of how much of it covers your property, adds some appeal and should be invested in. However, with the Landscaping Network indicating that one could easily spend upwards of a hundred thousand dollars on a single project, drowning that much right before putting your house up for sale could cut short your margin, or worse off dissuade buyers from looking twice.
Preferably, one could schedule daily maintenance tasks to keep the greenery-to-masonry balance looking deliberate. A well-chiselled backyard goes a long way convincing a buyer of how much attention to detail went into the rest of the house. Doing it this way doesn’t increase the house’s cost dramatically, but that effect is countered by the nods it gets once you show guests and potential new owners.
Extending Your House Upwards
While the number of rooms that your house has will definitely affect the final buying price, building upwards significantly makes your property stand out. Standing out would be nice if you actually lived there long enough before deciding to sell, not when you’re doing it in order to release the house onto the market. Considering how much it would take to complete such a project, the only way it would make business sense is if you’re extending so that you incorporate a source of income on premise. You can have a comfortable rental space to register on Airbnb to eventually pay off all mortgages before selling the property. That’s just one instance, but there are so many other reasons you could have an extra wing or simple room added to your property.
Adding Art On The Property
You don’t have to go all out on Etsy getting sculpture shipped from Africa to make your house a more attractive buy. There are sophisticated pieces that certainly appeal to a certain buyer persona, but at the cost that minimizes the range of potential buyers. Art on the wall seldom adds value to a house, unless the next owner is an artist or someone open to living creatively with doodles on the wall. In any case, they’d probably have that done right after buying the place, so you can save yourself the trouble.
Overall Plumbing Improvements
Among the many upgrades that you can have done on your property’s plumbing, adding new pipes should not be on the table. Most important, and cost-reasonable, would be clearing any blocked pipes and cleaning any exposed ducts. This can be pegged among the least financially demanding of your pre-sale chores, with more of the allotted funds going to the hired hands to make everything look and work in pristine condition.
Unless your house has acute blockages or other issues that when discovered after the house has been purchased will eventually spoil your reputation, then you can go along and replace troublesome sections. Otherwise, there are non-intrusive methods used by plumbers to de-clog underground laid pipes. These are a preferred, and cheaper route you should pursue.
There are so many furniture theme options that landing the exact preferred colours and patterns to have buyers impressed is akin to rolling a pair of 20 sided die. Millenials seldom come with furniture collections, and they are the least demographic to be looking to buy an entire house full of tables, chairs, and beds when moving in. That makes it reasonable to purchase before selling to them, however, there is no reason to break the bank while you’re at it.
The home improvement ideas evaluated so far have been those that would either cost too much to justify adding their invoice amounts on top of the projected cost of the property. They are, to summarise, upgrades you’d do to make your experience of the house more pleasurable. Expecting a turn around from them immediately would either prolong your property’s stay on the market – costing you more in the long run.
Essential Home Improvements
There is a batch of upgrades, that when executed properly will instantly up-rank your house. visitors, family and friends will notice immediately and in the case of those looking to buy it would add to the points that eventually lead to a sale.
Essential Home Improvements
- Good Lighting
- New Doors
- Garage Door
- Revamp Your Driveway
- Basement upgrade
- Add An Income Room
- Design a Centerpiece (or just buy one)
- Make Your Home Smart
- Remodel Your Backyard
Improve Your Property’s Lighting
One cue your brain picks up on as soon as you walk into a room is how much light is radiating into it and from electrical lamps (light bulbs). We seldom notice this in our own houses, but for someone buying a place, the lights are very important. Investing in new light bulb covers, or cleaning the ones you already have can change how a room looks significantly. Even when empty. Smarter lighting options such as dimmers, also add that desirable effect that tilts maybe-buyers into better prospects.
External lighting also matters as much, if not more than internal fluorescence. Installing enough lights on the external of your property instills a sense of security; that nobody can approach any entrance without people inside seeing them from a safe distance. It also beautifies or rather brings to attention how much attention you put in making the facade attractive. The cost of lighting and cables is reasonable, and the return on investment comes as quickly as you can switch them on. Buyers too will appreciate ample lighting when purchasing a property.
Opening New Doors
First impressions are everything when bringing potential buyers towards an open house. The very first point of contact, (after the driveway, which we will discuss soon), is the front door. Results from the deductive analysis of a Zillow Real Estate database showed that the colour of the front door had an effect on the final price that property sold for. Taking from their revelations, painting your door with simple charcoal, or other dark shades could peg your home at over $5,000 more than the appraisal value.
Painting the doors can be your DIY project on the weekend before putting the house on the market, and should not be any more than a couple of hundred dollars investment in total. Considering the upward value the house picks on, why not bring attention to internal doors too. Heavier doors that don’t only ensure wall continuity, but also sound-proof rooms are worth installing and mentioning to buyers.
Pay Some Attention To The Garage Door
Painting the garage door the same colour as the front door improves your property’s appeal. However, bringing a new garage door to the equation will not only add to the level of security concerning your stored cars and accessories, but it can also save you a lot of heating costs, according to Remodelling Magazine. Be sure to use door material that compliments the rest of the house. A lot of buyers feel warmer seeing a wood finish, while there is an inherent feeling of security and easy maintenance when you pick a metallic door.
Before buying a new door, which should set you back a few thousand, consult with a decor expert. Your house type could demand the installation of one door variant while you feel a totally different way. To impress the buyer market that best fits your budget, the safe bet would be to go with what is trending in their circles.
Driveway Renovation Ideas
A few moments before entering the house, the driveway would have impressed or brought doubt in your clients. It is imperative that it represents some effort to have your best foot forward. There are so many driveway options to pick from, most important when renovating to sell would be the surfacing part seeing as an entire dig-and-cover operation could set you back more than can be returned quickly.
Staying on the theme with interlocking driveway topping that matches the front of your house is safe, yet it strips the excitement of owning a new home from the buyer. More contemporary options such as grass finish driveways, with natural stone or even plastic moulded patterns, would resonate with the millennial clientele. There are various considerations you should process through before getting in touch with a contractor. Whichever layering you settle for, a new driveway, which usually has a lifespan over two decades long, adds glory to the marketing story that will be pitched to your buyers.
Should You Re-do The Floors Before Selling?
Well, that depends on your overall budget and the type of floor that needs attention. Wood finish floors can be sanded down to a lower level, at which the wood is relatively fresh, and treated with a protective glowing finish to attain that new feel. Ceramic tiles can be cleaned in the joints with the intention to make them new again. Ceramic has a long lifespan, but when broken should be replaced.
A more pressing variable when refurbishing the floor would be the amount of time it takes, rather than the cost of flooring material. A quick turn around on your investment is almost guaranteed, which makes it worth hiring flooring professionals to either add some insulation, install new tiles, or simply polish existing material anew.
Basement Renovation Before Selling
Perhaps the least used space in the average house unless someone is staying there, is the basement. It is worth investing in the upkeep of your basement. There are plenty of reasons this would be a great project, including that your property appreciates in value as soon as the basement is one more space that can be used for whatever the buyer pleases. Some basements are used as office workspace by their owners. With the millennial demographic favouring working from home compared to our conventional travel to work routine, it would come as that gem that pushes the final decision towards buying.
An entire room in its own right, you should consider the amount of investment required to breathe life into your basement before splashing money in it. If your basement requires a lot of work, it would be wise to do the least required work that converts an idle space into a storage area. Where you had been using it for entertainment, that affords you a lot of room to improve it into office space or just another bedroom that can be used when guests visit.
Income Rooms Add Value To Your Property
With the average room on Airbnb capable of earning a household $1000 each month, you could set up an automatic downpayment strategy for your mortgage. That’s a practical income room example you could start working on right away and start earning more home investment funds before selling. Knowing that a property comes stock with such an income room would no doubt encourage a buyer to make an offer.
The total cost of setting up such a room depends entirely on how much you wish to make during your turn running it. A simple localized search of Airbnb single rooms will show you what comes standard with each room. Comfort is essential, however, a few amenities such as a good Wifi connection, own entrance, a good view and availability of transportation are sure to keep yours booked back to back. This can also be paired with the basement project, you’d be shocked how many strangers would be okay with renting out your basement at a reasonable rate.
If you don’t have such a room at the moment but appreciate the incremental effect it would have on your property, consider extending the house altogether. It should cost you some significant efforts and resources, but when done well in advance, your return on investment is something to smile at. There is no limit to the source of income you could implement once such a project has been completed, including making it a small home factory that turns your (or one of your family member’s) hobby into an income generating side gig.
The Centerpiece Effect
Imagine walking into a house and stepping on a custom lobby floor made from an artistic work of wood and colourful perspex streaming through like water does when poured on the ground. That immediate excitement is something you can leverage on and turn a profit. A centrepiece can work wonders for you, and it doesn’t have to be expensive, just creative. Chandeliers have always had that class inducing effect aside from improving the lighting in their installed spaces, consider adding one above the lobby or in the dining room.
Since creativity shows a lot more thought invested than a simple splurge of cash on the centrepiece, you can use apps like Pinterest for home improving centrepieces that can be done as weekend projects by the entire family. Such projects make the transition of perspective from house to home for the buyer a much easier and quicker process.
The Allure of A Smart House
There is no fun living in a space that you have to manually turn all dials and flip all switches by yourself when going smart can make you more comfortable. It is no longer a movie thing that your home that your living room lights dim when you start watching a movie, or that the bedrooms start warming up just as you leave the office after a long cold day. Making your home a smart one adds to the few things that buyers consider and compare. After looking at a dozen houses, it would be refreshing to know that yours maintains itself and allows them more time to be with the family or doing what they love the most.
Several companies can turn your home into a smart space, but there are also very simple yet value adding devices that you can install by yourself. Apps such as IFTTT can connect the appliances and devices you already own and help them work together to make your life easier. With the smartphone location alerting your house how far from your house you are, the garage gate could open just in time for you to drive in quicker. HVAC thermostats paired with apps on your smartphones could keep your family just warm enough when it gets chilly, and comfortable when no heating is required.
Remodel Your Backyard
The prevalent buyer population come with thousands of social media friends, with some actually available for meetups that could happen in your backyard – it will be theirs then but you should hint the possibility and encourage a buy. Consider a patio improvement project to add entertainment space for them to enjoy. The investment required for such a project depends largely on your target’s pocket depth, however, it is a given that what you spend returns directly with the paid amount for the house.
Making your backyard a more pleasurable space includes installing a basketball half-court, something that a family with school going children could opt for, while loners would also go for to get some fitness routines going. A wise move would be consulting with your real estate agent to get a feel of the market before a permanent structure takes up space you could use more strategically to secure a good figure when your house is bought.
How To Go About The Upgrades
While all these ideas will add some value to your property, you don’t have to put your home under the knife as each of them is installed in succession. Consider polishing some areas and totally installing new pieces of the house puzzle where such attention calls with the 20 subdivided ideas above as your guideline to which investments will turn a profit when someone eventually pulls the pen to sign into the house.
Should the bank be open to lending you enough for all the projects to happen at the same time, consider moving into a rented space so you don’t distract progress, but still keep an eye so that your house is a better sale at the end.
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