Home improvements are often on homeowners’ minds, especially now as more people spend time in their residences or continue working from home.
Popular renovation projects include kitchens or a bathroom renovation in Toronto. Other home improvements like windows replacement are also on the list these days as homeowners seek to make their properties more energy-efficient.
While any home improvement that a homeowner can do may add some property value, experts say that certain home improvement projects should give you more bang for your buck. So let’s focus on four key home improvements that may maximize the value of your home!
How To Add Value to Your Home
Various home improvement blog posts on Realtor.ca discuss the hottest trends in Canadian home improvements. An excellent real estate agent should know what home improvements offer the greatest return on investment and resale value.
Real estate agents are generally in agreement that improving a bathroom or kitchen gives the homeowner their most significant return on investment. Still, other home improvement projects will increase both your home’s value and its energy efficiency.
Some homeowners may be concerned about a lengthy bathroom renovation that becomes costly, and in some situations, that is true. But the price and scale of a bathroom renovation can vary depending on your needs and budget.
Tip 1: Bathroom Renovation
Maybe you’re in your forever home now. Or, you’re thinking about a bathroom renovation to increase your home’s value before you put it on the market. In either case, there are different approaches to tackling a bathroom home improvement:
- A bathroom with a tub can be convenient for people with kids
- 67% of people from one survey felt a one-bathroom home with a large shower stall won’t affect resale value
- 54% of people in another survey preferred a modern, walk-in shower with more bathroom storage available
Dr. Pipe Drain and Plumbing Services is your bathroom renovation specialist in Toronto, whether you’re looking for a tub, a shower stall, or better bathroom storage solutions. Please call us to arrange an appointment that works for you!
Tip 2: Windows Replacement
Homebuyers have also made it clear that curb appeal is essential, and a home’s exterior often factors into a homebuyer’s decision to make an offer—or pass on—a property.
When old and inefficient windows on a home are replaced with attractive, easy to clean, and energy-efficient vinyl windows in frames, this can be the best way to beautify the exterior of your home and increase your home’s value. While some homebuyers think it’s just a cosmetic home improvement, new windows offer even more:
- New windows can make a home more airtight, making less energy escape which means your home is less expensive to heat or cool
- New windows are easier to open, and fresh air circulation is increased
- New windows and frames increase a home’s security and block sound pollution from outside
This summer, Falcon WD offers discounts of up to 20% on windows replacement projects for clients in Toronto and across the GTA. Your options may include repair, partially replacing, or replacing windows or frames, and we work with your needs and budget!
Tip 3: Adding Space Inside a Home
Following the worldwide shutdowns experienced with the COVID-19 pandemic, a large segment of Canadian office employees were suddenly working full-time at home.
Turning a kitchen countertop or a dining room table into an “office” isn’t ideal for the long term, and many homeowners looked to improve the functional footprint of their homes:
- Basement renovations are now focused on adding a home office space, not just a “family recreation room”
- If there isn’t a basement in the home or adding space is too costly, homeowners are creating “all-digital” rooms in the house with concealed workstations and no obvious cords, printers, or filing cabinets
While some people prefer the work-at-home scenario, mental health experts say that it’s important to distinguish between your living environment and workspace, so thoughts of work, projects, and deadlines don’t overwhelm your personal life.
Tip 4: Creating an Outdoor Room
If you’re looking to sell your home, we’ve explained how a bathroom renovation in Toronto can add return on investment. As well, a windows replacement adds value and increases a home’s efficiency, and that’s equally attractive to homebuyers.
On the other hand, if you want to stay in your home, and you’re looking for more space, it might be time to look outdoors:
- COVID-19 travel restrictions have made many homeowners turn to “staycations”
- Outdoor projects like privacy landscaping or fences, pool or hot tub installations, and new decks or gazebos allow the whole family to enjoy their resort-style backyard
- Some homeowners are adding personal touches to their backyard home improvements, including outdoor kitchens with pizza ovens and BBQ stations
While putting too much money into a seasonal backyard renovation might not seem wise, homeowners are also creating sheltered outdoor rooms with CSA-approved heat lamps to create three-season outdoor spaces.
Your Home Improvement Depends on You
What are your needs and goals as a homeowner? Whether you’re looking to stay in or sell your home, a home improvement like a bathroom renovation in Toronto may add a return on your investment right away.
Windows replacement is growing as a popular home improvement choice because of the return on investment and potential savings in energy costs. If you’re staying in your home, you can realize these benefits, and homebuyers will also appreciate the benefits if you put your home on the market.
No home improvement decision is wrong if you plan for it correctly and you manage your budget properly. Increasing the beauty and functionality of your home makes it more valuable for anyone, and that’s always the best choice!