6 Home Improvements You Can Tackle This Winter to Increase Your Home’s Value
Monday Feb 04th, 2019
As soon as the snow starts to fly and the cold descends upon Southern Ontario, many homeowners go into hibernation mode. And while winter may seem like an inconvenient time to renovate a house, it’s actually a great season to swing the hammer, load up the paintbrush or call in a contractor.
Need some motivation to get you off the couch? This list offers six renovation projects or upgrades that will have your spaces spruced up by the spring or summer, while also increasing your home’s value:
An ideal space to renovate over the winter is the basement. Tucked away below grade (and the snow), finished basements offer a great return on investment - between 50 to 75 percent - and expand your living spaces without having to put on an expensive addition. This is also a good opportunity to upgrade any dated mechanical systems in the home, like the furnace or water heater, to ensure optimal operation and efficiency for years to come.
Kitchen renovations are not for the faint of heart, as they do add a degree of disruption to everyday life. Many homeowners will often schedule the most laborious parts of a project while they are away down South, escaping the cold and the sawdust. The good news is that the trouble of a kitchen renovation is definitely worth the effort. Not only will it make food preparation and entertaining more enjoyable, but it can offer an average return on investment of 74 to 83 percent, depending on the scope and scale of your project.
A fireplace blends beauty and function into one by acting as a focal point to any room or adding warmth and coziness. Most commonly found in living rooms, fireplaces also have an important purpose in other areas of the home, such as the master bedroom, dining room, media room or even the kitchen. Many buyers are also attracted to fireplaces, making it a wise investment that can make your listing appear even more appealing when it comes time to sell.
One of the best ways to transform a space is by updating the flooring. With so many options and material choices available today, there literally is a solution to suit every budget, skill level and need – tile, carpeting, laminate, hardwood and vinyl are the most popular. According to the Appraisal Institute of Canada (AIC), the return on investment on floor upgrades ranges from 50 to 75 percent. That means if you spend $5,000 redoing your floors, you can expect to recoup anywhere from $2,500 to $3,800 of your costs. Many homeowners are opting for in-floor heating as well, which feels great underfoot and can be very attractive to buyers when it comes time to list.
Next to kitchens, bathrooms offer the greatest return on investment. If your bathrooms are very dated or in disrepair, opting to do a full renovation over the winter months is a smart investment – not only for your enjoyment, but to increase your home’s value too. Another option is just upgrading the fixtures, hardware, lighting, vanity and other elements for a mini-makeover. You can accomplish a lot on a smaller budget without adding extra debt.
If the idea of taking on or hiring out a full-scale renovation this winter isn’t your cup of tea, there are plenty of smaller projects that you can tackle over a couple weekends. A fresh coat of paint will spruce up any room, so will swapping outdated light fixtures, doorknobs or cabinet hardware. If your carpets are stretched out or rippled, hire a flooring company to come in and do a quick repair. Same with the caulk in your shower or around your bathtub – by removing dirty and mouldy caulk, your wet spaces will sparkle again and look new.
Your Mississauga Real Estate Sales Representative
If you are wondering what renovation projects to work on over the winter, but aren’t sure which ones make the most sense, please feel free to connect with me, Deborah Clerk, for a free home evaluation. With my many years of experience as a realtor, I can advise you on which updates will add to your home’s resale value and resonate the most with buyers, should you decide to sell down the road.