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It's no secret that regular home maintenance and improvement can add value to your property and make it more comfortable to live in. But what are the best ways to go about it? Well it all really depends on what your end goal is. If you’re simply trying to add value to your property in preparation for a future sale, then that will mean prioritizing one set of improvements, whereas improving your home for comfort and longevity is another. Below I’ll outline 10 great home improvement ideas and whether these are good for adding value, comfort, longevity or all of the above.
Before we get started, let me note one thing. Generally speaking those things that tend to give the most return on investment are improvements that add to the looks and aesthetics of a home rather than improving the brick and mortar systems and structure of your house. This is in part because major structural improvements (i.e. new roof, new siding, updated electrical wiring) tend to cost you more money in renovation than they make you in increased resale price. It’s also largely due to the fact that these types of improvements are usually overlooked compared to more flashy changes like updating your kitchens/bathrooms, or adding a fresh coat of paint. With that in mind, here are some great improvement ideas and where they fit in terms of adding value, comfort, or longevity.
1. Painting: A new coat of paint can do wonders for any room in your house. It can brighten up a dark space, add personality to a bland room, and make a small space appear larger. When choosing paint colors, be sure to consider the mood you want to create in the space. Painting is one of the highest return on investment improvements for prepping your home for sale. If you are looking to resell, think neutral colours, white may seem boring but it’s a blank slate for your future buyer to imagine adding their own furniture and style. Exterior painting/staining is also an important step for preserving fences, decks, and wood siding.
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2. Replacing Light Fixtures: Outdated or damaged light fixtures can drag down the look of an entire room. Replacing them with fresh new fixtures is a quick and easy way to brighten up your home and modernize or stylize your home. It’s typically a low cost way to improve the appeal and warmth of your home.
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3. Replacing Countertops: If your countertops are looking worn out, replacing them can give your kitchen or bathroom a whole new look. There are many different materials to choose from, so be sure to pick one that fits your style and budget. Marble, granite, and Corian are more expensive higher end products that can transform your kitchens and bathrooms, whereas butcher’s block and laminate can freshen up a space on more of a budget.
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4. Updating Backsplash: A new backsplash can add color and personality to any kitchen or bathroom. It’s a relatively easy project that can be done in a weekend, and it’s a great way to update an outdated space. However, keep in mind that you’ll typically want to pair this with a flat countertop for the most attractive result. If your intended kitchen or bathroom space has a laminate countertop with an attached laminate backsplash then this could be a bigger project than simply tiling.
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5. Installing New Flooring: Old, worn out flooring can make your whole house feel dated. Replacing it with new flooring is a big project, but it’s worth it if you want to update the look of your home. There are a variety of options from hardwood, to engineered hardwood, laminate, vinyl, tiling and more. Each of these options ranges in cost. Hardwood and tiling are more expensive options and typically saved for personal use and comfort. Whereas laminate and vinyl are cheaper options that can update worn out flooring. Keep in mind that if your floors are in relatively good shape, a fresh overhaul probably won’t add much value to your resale. This of course applies to any other renovations you're thinking about as well.
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6. Gardening and Landscaping: A well-manicured lawn and garden can make a big difference in the curb appeal of your home. If you’re not sure where to start, consider hiring a professional landscaper to help you create the perfect outdoor space. However, don’t feel like you need to hire a landscaper if you have a green thumb, or you're simply laying out some sod grass or planting a few decorative perennials. Also keep in mind that the more intricate your gardening/landscaping is, the more maintenance will be required. That might not be a problem if you enjoy gardening and have lots of free time, but the upkeep can be expensive if this isn't the case.
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7. Replacing Windows: Old, drafty windows can let in cold air and raise your energy bills. Worn or damage windows can also be a liability for water ingress and mold getting into your home. Replacing your windows with new, energy-efficient windows will not only save you money, but it will also make your home last longer and feel more comfortable. Although new windows do technically add value, and the improvement will save you money over the long-term, I wouldn’t generally recommend this for anyone looking to sell unless your windows are damaged or causing water ingress. Aside from this, the cost to replace windows is generally a lot more than what this will add to your resale value.
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8. Adding a Deck or Patio: A deck or patio is a great way to add extra living space to your home. It’s the perfect place to entertain guests or just relax outdoors. However, the cost to build a new deck is typically expensive and might not make you money in the resale of your home. It’s also an added upkeep cost. Rather than add to the longevity of your home, the addition of a wood deck simply introduces a new component that needs to be maintained overtime. A brick patio on the other hand typically wears better and requires less frequent maintenance, but this is also an expensive addition.
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9. Installing a New Washer/Dryer: If your washer and dryer are outdated or not working properly, replacing them with new ones can be a huge time-saver. You’ll also save money on your energy bills by using more efficient appliances. However, this is typically best for your own personal use, unless you’re looking to add a permitted washer/dryer in a condo that doesn’t have one already. In this case the installation of in-suite laundry can add huge value by increasing the appeal of your property to young families. Especially for anyone who has a baby or is thinking about having kids.
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10. Finishing the Unfinished Basement: An unfinished basement is a wasted space in your home. By finishing it, you can add valuable living space. This can be a big and expensive project, but it’s often worth it if you want to increase the value of your home. Especially if this finishing can add 1-2 bedrooms, or a whole second rentable suite to your home.
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These are just a few ideas to get your home improvement project started. With a little imagination and effort, you can come up with many more ways to improve your home. So get started today and see the difference a few changes can make.
I am a Victoria based local realtor with eXp Realty. My commitment to honesty, integrity, loyalty and hard work have been important pillars for me because they drive a high standard of excellent service for my clients. Helping you realize your dream is my goal!
I service Vancouver Island, but my focus is on: Victoria, Sooke, Saanich, Malahat, Shawnigan Lake, Cobble Hill, Duncan, and the rest of the Cowichan Valley.