8 Home Updates That Increase Your Home’s Value
Homeowners planning on selling their home are often curious about making home updates that will help them attract more buyers, get more offers and thus garner a higher selling price. Whereas new homeowners, or homeowners planning on staying in place, most often seek home renovation projects that will increase the standards of their living environment. In either situation, there is a desire for home improvement projects that increase the home’s overall appeal and value. How do you know which home updates are solid investments that will deliver the kind of return you may be looking for?
Here are 8 Cost-Effective Home Updates that Cost Less Than What They Return:
Among home updates, updating to hardwood flooring is considered the most popular for increasing the value of your home. A fine, quality floor that spans your entire home is not just a thing of beauty. It is the foundation from which a lifestyle springs forth. Hardwood floors are well-known for their durability. There are historical homes dating back hundreds of years with original hardwood flooring. With the right care, hardwood flooring will last a family a lifetime. So many variations of shade, grain and patterns are available that there is a style to suit every taste. For rooms where something softer underfoot is desired, cork is an excellent option and has more modern-appeal than carpet. Cork flooring is an easy to clean, attractive, eco-conscious and hypoallergenic alternative to traditional carpeting. It’s soft underfoot, maintains a comfortable temperature and is acoustic-insulating, making it ideal for bedrooms and rooms that are located directly above a lower suite. And carpet lovers need not lament, because cork and hardwood flooring both look spectacular showcased with accent rugs, while facilitating better indoor air-quality.
Modern Crown Moulding
Whether you want to increase your home’s aesthetics for your own pleasure, or increase its re-sell value, a crown moulding update delivers. Professional home stagers consider this to be one of the most cost-effective home updates in comparison to its return on investment (ROI). Enrich the texture of your living space with trim that catches the eye and elevates the ambiance of luxury. Crown moulding can add verve to any room, gives the home a finished look and can even be used to add height and formality to upper kitchen cabinets.
Applying a fresh coat of paint, perhaps even updating colour, requires a minimal investment for materials. Depending on your budget, you could hire a professional or do the job yourself if you are confident in your abilities. And don’t just paint the walls; ceilings, doors and trim should all get an update. Just be sure to choose colours that aren’t too limiting or eccentric.
Updating kitchens and bathrooms can often be less expensive than one might think. Updating doors, drawers and cabinets with new knobs, drawer pulls, and hinges can breathe new life into a previously dated-looking kitchen or bathroom. These are all easy to replace even for homeowners with little DIY experience. If it’s in your budget, go a step further and update faucets as well. A professional plumber can perform the install, or you may feel quite capable to follow the instructions and do it yourself. And while you’re at it, using decorative moulding to frame your bathroom mirror can take the vanity from typical to trendy.
Often overlooked, stairways can really date your home’s decor. This is an investment that can go quite far in its return. For structural safety concerns, this is definitely a job for a professional, but is worth investing in. Replace outdated railings and scuffed and worn risers. What was once simply a fixture and passage, can become a central focal point within your home—such is the case with this modern wire-brushed oak staircase we installed for a customer. And the space underneath a new staircase can be fitted with extra storage (always a plus with new homeowners).
If your counters are tile, rather than a solid slab, it would be wise to update them. Grout invariably becomes grungy and stained. Even if you have a very slim budget, new affordable materials are available that simply look fantastic. It may even be possible to further discount your investment by purchasing remnant slabs, especially if your counterspace is minimal. The most important kitchen surface to get right is an island. It is a focal piece which always draws attention. Keep this in mind when making decisions related to your home updates budget.
It’s not just your fireplace’s functions that improve your home’s value, but all the details and visual appeal surrounding it. For many months out of the year your fireplace probably sees no use. As it lies dormant, it should remain a commanding element within a room simply because it is gorgeous. Transform a fireplace from a blank canvas into a masterpiece simply by updating the mantel.
One of the first spaces potential homebuyers examine are your home’s closets (especially your master bedroom closet). Realtors always advise sellers to maximize the potential of closets as a key selling point. But even if a homeowner is not selling a home, organizational updates add value to the quality of life. So, whether a person is interested in marketability or livability, closet organizers are effective and affordable and make the most out of even the tiniest closet spaces.
Never underestimate the style impact the right interior and exterior doors can make on the perceived value of your home.
- Outside appeal: The front door to your home is one of the first visual features buyers notice and it creates an impression when entering your home. If you’re planning on selling, consider whether it’s time to replace any exterior doors of your home before showcasing it to potential buyers. Select a door with the right functionality and visual elements that complement the overall style of your home.
- Inside Appeal: When it comes to interior doors, consider whether your current doors are looking dated or showing wear. Are their rooms where a modern pocket door would make better use of a small space? How about your kitchen, den or dining room? Would a stylish, sliding industrial barn-style door formalize a room and make a greater style impact? While buyers like open-concept, there is something to be said for French doors or barn-style doors that formalize a room which otherwise lacks any defining characteristics.
Your home is more than a house. It contains an entire lifestyle. An updated, sleek, modernized home commands a higher value, and appeals to more discerning home buyers.
In Victoria and Nanaimo, The Finishing Store is the place to find a great selection of home finishing supplies and services. Contact our experts at The Finishing Store or visit our Victoria or Nanaimo location to see everything we have in store. We’ll help you make the best choices for your home update projects.