There are 3 guiding principles to turn your renovations into profit.
Whether you’re keeping up with the latest design trends, or simply changing up your floors, renovations have the power to rejuvenate and transform your home. Here are a few tips to ensure that these changes will increase the value of your home at the time of resale.
Prioritize the right renovations
Different renovations will yield different returns, so it’s important to be strategic when investing in these works.
Potential buyers will focus on the kitchen the most, so make sure to pay special attention to this room. A successful renovation in the kitchen will add to the joy of cooking, and will allow you to recover between 75% and 100% of its value.
The second most important room for potential buyers is the bathroom. A high-quality renovation will allow you to recover between 71% and 100% of your investment cost.
Make your space look like new with a fresh coat of paint
Interior paint is a simple way to upgrade a space while ensuring a 62% investment recovery at the time of resale. Exterior paint will also make your home look like new, but will yield a slightly lower return than interior paint.
However, it should be noted that a pool can hinder the resale of a home, since it requires maintenance and takes up a lot of space in the yard.
Choose the right design
Design trends may be appealing, but unlike our wardrobe, we can’t redo our entire space every season. The important thing is to find a style that will stand the test of time.
If you’re an interior design pro, go for it and treat yourself! On the other hand, if you don’t have a knack for design and would like expert tips, why not call on a professional designer? You care about the environment? Then consult Via Capitale’s Ecological Showcase, it highlights businesses with ecological approaches to renovation.
Opt for quality
Future buyers prefer turnkey homes. Cheap or incomplete renovations will give the impression that a lot of work remains to be done in the house. On the other hand, high-quality materials and an impeccable finish indicate that great care went into the house.
If you have questions concerning the materials and types of renovations to focus on to generate the highest return on your investment, consult a broker for guidance. Our brokers understand the local market, and will know how to wow prospective buyers.
