Home Renovations That Increase Your Home's Value

Home renovations are not only important when it comes to making your home more comfortable or liveable, but they can also significantly increase the value of your home. Yet, when it comes to adding value to your home, not all renovations are created equally. The following home renovations are among the best way to increase your property value, even on a budget.

Space and Light

Dark, cramped spaces tend to be a real estate agent's nightmare. Home buyers want to see bright, open spaces so if your home has small rooms or little natural light you should consider renovations that add space and light. You could remove some walls to open up your floor plan, install a skylight, or even widen doorways or add windows. Also, open floor plans are increasingly popular nowadays so considering renovating your kitchen and living areas to create an open-plan feel.

Curb Appeal

Your house needs to look attractive inside and out. Many homeowners ignore the potential impact of the curb appeal of your home, but many experts point out that a good first impression can add as much as 10 per cent to the value of your home. Give the exterior of your home a paint job, or power wash your vinyl siding. Repair any damage to the exterior of your home including driveways and walkways. Also, consider improving your landscaping by regularly mowing the lawn or planting flowers and trees. Most importantly, ensure that your property is free of clutter and trash.

Build a Deck

Outdoor spaces are a cost-effective way of adding to the value of your home. In fact, the cost of a deck is one of the most easily recouped costs when you sell your home. Indeed, today's homeowners rank outdoor living spaces among the most important aspects of a new home, and the more interesting your deck, the more value it will add to your home. In other words, try to design a deck that has a unique shape or features such as a built-in fire pit, benches, and garden beds.

Paint your Interior

Easily one of the cheapest ways to add value to your home is to paint. Painting gives your home a fresh, new appeal without the need for extensive renovations. You can even paint cupboards and cabinets to restore the look of your kitchen and bathrooms. Nevertheless, if you're painting with the intention of selling your home, be sure to pick bright, neutral colours as they'll be less startling to potential buyers (not to mention the fact that it's easier to imagine your own designs and decorations over neutral colours).

Finish your Basement

Finally, one of the top renovations that add value to your home is a refinished basement. Many homeowners decide to add a new living room or recreation room, but you may also want to build a suite. Even the smallest budget can see improvements to an unfinished basement; and these improvements will almost always increase the value of your home.