We've all been there. Whether we just purchased our first home and intend to 'make it ours,' or we have been living in the same home for 20 years and feel it is time to freshen things up. Renovations. They can be fun, challenging and sometimes over-whelming. So what home improvements lead to the the greatest return in investment? According to the Real Estate experts, here are the jobs that provide the greatest ROI when it comes time to sell your home...
1) Bathrooms: Providing an average return on investment of 56%, those tackling bathrooms should be thinking heated tile flooring, vanities (with plenty of counter/storage space), counter-tops (granite/quartz), soaker tubs, tile tub surrounds and upgraded lighting.
2) Kitchens: Delivering an average return on investment of 44%, when it comes to kitchens, the buzz words include flooring (hardwood/tile), cabinetry (darker finishes, patina, country, white), counter-tops (granite/quartz), stainless steel appliances (gas or ceran top are always a great choice), upgraded lighting, breakfast bars/islands and plenty of storage (people love pantries).
3) Paint: Paint is certainly a relatively easy and affordable means of making a house your home. That noted, fresh neutral colors tend to deliver a 29% return on investment.
4) Flooring: Another relatively easy improvement is flooring. Experts claim that we should expect a 22% ROI when laying down the hardwood (both natural and engineered), laminate, carpet and/or tile.
5) Fireplaces: The more things change, the more they stay the same. While natural wood-buring are becoming harder to find, natural gas fireplaces deliver an average return on investment of 11%.
Feel free to drop us a line if you have any questions regarding your pending improvements. We possess vast knowledge and network resources and would be honoured to bounce some ideas around with you.
