Flowering plants with armchairs and sofa at patio. Credit: Keller and Keller Photography Inc. Mediterranean-style ranch exterior with tropical plants. Credit: Michael Garland. Comments 2 Add Comment. View Comments. November 18, June 25, Those modern chairs in the last pic are horrible. Back to story Comment on this project.
Tell us what you think Thanks for adding your feedback. Loud Design Elements. Instead, opt for subtler elements that new homeowners can easily change to suit their design preferences. Bold design choices like brightly coloured walls or custom tiling may scare off potential buyers. Ornate Lighting. Instead of spending thousands on fancy fixtures that will just lead to higher hydro bills, go for simple, energy-efficient upgrades such as LED lights.
Good lighting normally pleases buyers, but it's not often a deciding factor in purchasing a property. High-End Upgrades. Most new homeowners prefer to add their own high-end features that cater to their lifestyle. That handmade designer wallpaper, state-of-the-art stainless steel fridge and bathtub hewn from a single block of granite may look great to you, but potential buyers might not feel the same way.
New Floors. If you have wooden floors, have them sanded down and coated instead. Wall-to-Wall Carpeting. Instead, invest in a steam cleaner and have any stubborn stains treated professionally. Remodelled Basements. Instead of a complete overhaul, focus on smaller, less expensive improvements such as creating more storage space.
New Windows. Otherwise, make sure the existing frames are thoroughly cleaned and well maintained. You might even be able to cancel private mortgage insurance payments earlier than anticipated. Before you shell out big bucks for updates to your home, however, be sure to have a solid understanding of what renovations yield the highest return for the money.
Take into account your budget and location — costs can vary greatly by region based on the cost of labor and materials, as well as the level of service offered. Keep in mind, too, that what might be considered the best home improvements for resale might not be the best fit for you. How We Make Money.
Jennifer Bradley Franklin. Written by. Jennifer Bradley Franklin is a multi-platform journalist and author, often covering finance, real estate and more. Edited By Suzanne De Vita. Edited by. Suzanne De Vita. Suzanne De Vita is the mortgage editor for Bankrate, focusing on mortgage and real estate topics for homebuyers, homeowners, investors and renters. Share this page. Key Principles We value your trust.
Best home renovations in The Cost vs. If adding resale value to your property is uppermost in your mind as you consider renovations, there are a number of upgrades and changes you should cross off your list. A swimming pool tops the list of sinkholes for your money.
In fact, it may turn potential buyers away. Swimming pools can be expensive to maintain and buyers may view them as dangerous. Sometimes, buyers offer for homes on the condition that an above-ground pool be removed or an in-ground pool be filled in. Extensive landscaping may also warn off potential buyers.
As lovely as your property may look with all the horticultural niceties, not everyone wants to devote their free time to the upkeep of groomed walkways or myriad beds of flowers. They may view it as a burden or an expense, if a gardener is required to keep it looking fresh.
People are much more conscious now of the chemicals used in processing carpeting and the allergens that it may trap. Conversely, installing hardwood floors in your home is a desirable upgrade; these floors can add to the value of your home, especially if they are original, rather than a new material.
Mike Holmes, the contractor, cautions anyone doing renovations to consider practical upgrades along with the income-producing changes. To see how much you can save with Square One, get a personalized online quote now. Bathrooms are second on the list of renovations that provide a return upon resale. If you can add a bathroom with a toilet, sink, and shower to your home, it should increase your sale price. A tip to remember: using glass walls for your shower gives the illusion of more space.
How much are you able to spend on the project? Do your research, itemize what needs to be done, cost it out, and remember to build in a contingency fund for unexpected surprises. Often renovations uncover structural issues that need to be addressed before the aesthetic components can be installed.
What are your must-haves and what are your nice-to-haves? Cutting back on the frills can help keep your budget on track. Will you need to hire a professional or tradesperson? Research their fees and factor them into your budget. The more planning you do up front, the easier and cheaper your project will be in the long run.
Write it all down:. Why are you renovating? For practical reasons, or purely cosmetic ones?
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