Are you thinking of renovating your home? It’s a great time to make improvements, whether you’re remodelling to maintain your home or to increase its value before you put it on the market.
What are the 3 renovations with the biggest returns?
1) Painting has a return on investment of 300%.
2) Kitchens boast a return ranging from 68% to 120% depending on the extent of the work completed.
3) A bathroom addition offers a return of 80% to 130%, while a bathroom remodel can recoup anywhere from 65% to 120% of your investment.
Renovating on a budget!
Whether you’re planning a small update to a room in your home or a complete overhaul, here are some tips to help you stick to your budget.
1) What’s your intention for remodelling? If the elements of the room are still in good condition, save money by painting the walls and refinishing woodwork and installing new fixtures. This will freshen the look of the room and prevent you from undertaking a costly overhaul.
2) Prioritize the urgency of each project. You may want to renovate multiple rooms in your home; however, your sanity and your wallet might not allow that to happen simultaneously. Start with the project that needs the most attention right away.
3) Can you do it yourself or do you have to hire a professional? You might be able to save money by doing some if not all of the project yourself. Consider hiring a professional if you are not handy with a hammer and the project is extensive.
4) Outline everything your project entails, including your anticipated costs. The best way to prevent going over budget is to make a plan for what needs to be done and how much it will cost. After you have estimated your budget, set aside an extra 15% to 20% of your budget as contingency cash.
5) Once you make your plan, stick to it. Adding extra projects will increase your costs and dig into your budget.
Spruce up your home before you put it on the market.
For your home’s interior:
1) Fill in the cracks in your walls and ceiling and paint them a neutral colour.
2) Fix creaks and squeaks with WD-40®
3) Modernize your kitchen and bathroom cabinets with new drawer pulls and hardware.
For your home’s exterior:
1) Install window boxes with cheerful flowers or plants
2) Paint your window frames
3) Update your lights fixtures
4) Replace your house numbers
Get more out of your living spaces
With more than 40% of Canadians aged 20 to 29 years old living with their parents, it’s no surprise that home owners are looking to maximize the purpose of each room in their homes. Here’s how to make the most of your spaces.
1) Maximize your space. Go through the house and donate what you and your family don’t need or use. This will improve the flow and functionality of your home.
2) Transform a room with furniture that does double duty. End tables, coffee tables and seating often feature compartments or drawers to store toys, paperwork, bedding etc. Additionally, Murphy beds can be pushed into the wall when not in use, feeing up floor space.
3) Put small spaces to use. Turn an unused closet or corner of a room into a small office, homework area or laundry room.
We can recommend many professionals to help you with your renovating dreams. Contact us today!