Welcome to the #KTQuickTips blog, with your favorite Milton Real Estate Agents at The KT Team!
In Episode #85 we discussed which renovations go straight to your bottom line and reviewed a study done by the Appraisal Institute of Canada. Below, we’ve listed their top four items that will give you a great return on your overall investment.
First and foremost is the definitely the kitchen. The kitchen is the heart of the home, and money spent here is money well-spent. To ensure you get the best return on your investment, stick with the same quality and style of your home and the neighborhood. You can quickly go overboard by purchasing materials and fixtures that are significantly more expensive than your type of home is able to demand in value so seek out the right products and great deals.
Bathrooms are also very reliable when it comes to your overall return on your investment. However, like your kitchen, you’ll want to stay within the same quality and style as the rest of the house.
Whether painting the interior or exterior of your home – it’s a very affordable way to freshen up the look of your home. Keep in mind, if you’re doing this with intentions to sell, stick with a neutral palette to ensure that you appeal to a wide audience. Painting has one of, if not THE highest return on investment A couple of key notes are that if you don’t have a steady hand, hire a professional. A sloppy paint job will turn people off, giving the opposite result of your intended purpose, making it a complete waste of time and money. Also, if you have a popcorn ceiling with a section of smooth ceiling (usually 4-inches or so) where the ceiling and wall meet, DO NOT paint this the wall color. Worst. Idea. Ever.
Last but not least are the final touches… If your electrical light fixtures and your plumbing fixtures need to be updated, this is a great time to do that. Many homes still have the original builder-installed fixtures; replacing some throughout the house, especially in key areas like dining rooms, the foyer, kitchen, master bedroom, bathrooms (or pretty well everywhere!) will really set your home apart from the competition. No need to go crazy, there are lots of great options and often big sales.