Think Resale When You're Renovating
Finding a home that fits your personality, needs, and wants, should be the number one priority of your Chatham-Kent realtor. If you can't find or afford that perfect home just yet, your property should at the very least have the potential for improvement. Not all renovations will improve the value of your home, and in fact, some renovations could make your home more difficult to sell on the Chatham-Kent real estate market.
When you renovate your home in Chatham-Kent, chances are you'll be focusing on creating spaces that you will love; however, it's also important to think about the long term impacts of your renovations. In short, when you renovate, think resale.
Where will I see the biggest return?
Bathrooms and kitchens are the areas of focus that will give you the largest resale value and dollar for dollar return on the Chatham-Kent real estate market. With that being said, home renovators can often be fixated on these areas and overlook the simple fixes. Perhaps your home is turning people away with poor curb appeal. Maybe you have an unfinished basement waiting to up the square footage of your home, or an awkward floor plan that can be fixed by blowing out a wall. Don't focus on the big projects; focus on what needs to be done. Look at what will improve the value of your home, improve your home's appeal to you, and, just as importantly, improve the appeal of your home to future buyers. If you need help, try contacting a Chatham-Kent real estate agent and levying their opinion.
Understand the Chatham-Kent real estate market
Adding a sunroom or swimming pool in Chatham-Kent might not improve the resale value of your home like it would in Florida. Any honest Chatham-Kent realtor will tell you this, and will help you to understand the rules of real estate and renovating. If you do choose to put in a $40,000 sunroom, you need to understand that you will not, in the majority of cases, get your investment back when you resell your home. In fact, in most renovations, dollar for dollar returns are rare. That's why you need to think universally. What do the vast majority of home buyers in Chatham look for? What is a selling feature that will interest 9 out of 10 home buyers?
Keep things simple when renovating
Hardwood floors, granite countertops, crown mouldings; these are universal features that home buyers love. Think about an ideal home, what would it include? Would it include zebra striped countertops, orange shag carpet, or bright pink walls? Not likely. Sure it might fit your personal interest and style, but when it comes time to sell your home, these features could cost you serious money. Double sinks in washrooms, neutral colours on the inside and outside of homes, walk-in closets, ample storage, finished basements, fireplaces, updated kitchens, and spacious bathrooms will be found on the checklist of most potential home buyers in Chatham, Ontario. When you renovate your home, think about resale, even if you never intend to sell your home.
Eventually, an event may occur when you need to sell your home, or in the future, the home may be left to your children. Neutralizing and updating your home shouldn't be someone else's burden.
With the right accessories, even a neutral renovation can express your unique style and fit into your design dreams. When it comes to renovating for resale, quality can never be overlooked. Using inexpensive products now will only reduce your resale value later. It is your home, and you do need to enjoy it and appreciate the design features, but someday, you might want to capture the true value of your property. In fact, since you're reading this article, that day is likely near. For more renovation and home sale tips, feel free to check out my Chatham-Kent real estate resources, or if you're looking for a Chatham-Kent realtor to help you out, feel free to give me a call at 519-360-0141.