Which Home Renovations Provide the Best ROI
The Ottawa real estate market is growing in leaps and bounds.
People who try their luck and enter this market with the intention of “flipping” a home know what potential it has. A lot of the time, though, what folks are buying is known as a “fixer-upper.”
Longtime homeowners, meanwhile, may have an older home on their hands, and would best consider moderate or even basic renovations prior to listing their homes.
If your budget doesn’t allow you to renovate the house from top to bottom, fixing certain areas could make your sale much easier. With a few but simple steps, you’ll be on your way to selling a property with a solid return on investment (ROI).
Here are some of the key points that will help you get through the pre-listing renovation process with better results.
Home Renovations to Consider When Selling in Ottawa
Home improvements such as bathroom renovation or kitchen upgrades offer a much higher ROI.
Home renovations are not an easy task and require a substantial investment if you want to make your property more valuable.
However, the higher ROI will make that initial investment worth it in the long run.
Let’s see how.
Bathroom Renovations: Sparkle & Shine
One of the first things anybody will ask when buying a house is how many toilets the property has and whether it was renovated.
Many buyers prefer that the previous owner does at least some light renovations.
Buyers (and buyers’ agents) are aware that bathroom renovations are expensive, and they’ll look for houses that have that part covered.
Thus, it can be your first selling point that will attract potential buyers coming for a tour of the house.
A modern, well-designed bathroom increases the value and appeal of a home substantially. Even if you have to invest in such a project, there’s a good chance that it will break even and likely make you a bit of extra money after you seal the deal.
Of course, if you spend too much on making it look classy, you may have some losses, which is why you need to set a reasonable renovation budget and work with an Ottawa renovations contractor with the experience, know-how and trust to make the most of your remodelling investment.
Kitchen Upgrades – Pack the WOW Factor
Most people usually first go right to the kitchen to see what condition it’s in.
Having that WOW factor when a couple enters your home for a tour is vital for making a deal on the spot. Upgraded kitchens with shiny new appliances raise the value of the house significantly and bring a higher ROI.
Investing in high-quality appliances and surfaces will help you grab the attention of anybody in love with cooking.
That’s why it’s best to find a way to improve the kitchen and make it more modern and elegant before you list a house and start showing it to people.
Everybody will love the fact that the house is ready for them to move in without going through the trouble of renovating the kitchen.
Which Renovation Option Is Best for You?
Which home renovations are right for you? Which ones are most likely to deliver the best ROI?
The bathroom and the kitchen are the key selling points of properties. The condition of these areas is most likely to have a direct effect on the selling price of your property.
The best way to find out, though, is to have March Homes come out and give you a free, no-obligation quote on both kitchen upgrades and bathroom renovations. We’ll sit (or stand) with you to discuss trending options as well as what would work best for your home – all within your budget, of course.
To help you can use Ottawa kitchen upgrades and bathroom renovations as an advantage when negotiating a deal, hire an experienced Ottawa renovations contractor.
Contact March Homes today to find out how we can help.