Renovations that sell
by Kenneth Ho
Thinking of selling your home and not sure about what to do to sell it for
top dollar? Potential home buyers are often searching for properties that are in
“move-in ready” condition so that they don’t have to incur any extra costs when
they move into their new homes.
If you already own a home suitable for you and your family, renovating with
long-term sell-ability means that you will enjoy a better living atmosphere for
a longer period of time and will get a handsome return for your investment. The
prolonged usage you also get out of the renovation maximizes your investment
gain.
We have selected three types of renovation that will give you the biggest
return for your investment wile making dramatic improvements to your property:
KITCHEN
The kitchen has always been known as the heart of a home, where
everyone gathers and chats about what’s new in their lives. It is also the
busiest room in the house as we prepare and eat at least two meals there each
and every day. That’s why it’s the first room that potential buyers look at when
they walk into a property listed for sale. As a result the kitchen is considered
to be a significant marketing tool.
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Here, it is important for sellers to emphasis spaciousness, functionality,
clutter-free, and effective storage in their kitchen space. Hiring a
design professional to design the kitchen is ideal as they often are
able to come up with innovative design solutions as well as finding and
specifying the proper materials to highlight the architecture of your house,
making your kitchen look more appealing to the potential buyers. In most cases,
a kitchen with granite countertops would be a fast seller because it creates
richness, elegance, and emphasizes quality. Besides the marketing advantage,
granite countertop is also ideal for daily personal use because of its
resistance to scratches, looks natural, and is easy to maintain. You should
never try to save money on design, appliances, or labour because these are
the basis of a spectacular space. Remember, having the
job done well is a value adder; doing it poorly may reduce the value of your
home!
According to the Appraisal Institute of Canada, the average amount that you
should spend prior to selling your house should be 10-15% of the house value. If
you are planning on renovating the kitchen for personal use and not only for the
purpose of investment, and if you are going to live in your house for more than
five years, then you should spend 15 - 25% or more. In most cases, you will be
able to recover the cost of the renovation by the time you sell your house –
with a 44% higher return on investment than the average return on other popular
renovations!
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