How can I increase the value of my home in Winnipeg?
By Scott Moore, RealtorWhether you're preparing to sell your home or just want to boost its long-term value, renovating your home can be a great investment -- with the bonus of also improving your quality of life in the meantime.
Here are my top three renovation ideas for Winnipeggers that strike the balance between improving your experience of your home and getting a good return on investment if/when you decide to sell:
1. Create a Basement Space. In Winnipeg, basements matter. Creating a rec room, home office, gym space or guest suite in the basement makes your home bigger. This is the number one thing you can do to add value to the home. Similarly, adding outdoor space (adding a deck or a sunroom, or creating an inviting space on you existing patio or deck) has the same effect—just not with the same return on investment as its (unfortunately) only useful half the year. Of note, poor workmanship or low quality materials will decrease the value as buyers will just see a giant a price tag for everything that has to be repaired or replaced—so be sure the work is done nicely.
2. Updating Your Kitchen. We all know that the kitchen is the heart of the home, which makes it a focal point for potential buyers. A beautiful kitchen can make buyers really fall in love and step up to place an offer. Use timeless designs and durable materials. Don’t skip a consultation with a designer—that cost will be is a tiny percentage of the overall project cost, but will have the biggest impact on the end result.
3. Enhance Curb Appeal. First impressions matter, when it comes to enjoying your home and selling your home. Buyers absolutely decide whether or not they even want to see a home based on how it looks from the outside. Updating siding, repainting the front door, and landscaping the yard go a long way.
Renovating your home in Winnipeg is not only a great way to increase its value but also to enhance your living experience.
If you are thinking about doing renovations or repairs specifically to sell the home, definitely give me a call at 204-995-7355 before making major changes or spending a lot of money. I would be happy to tell you how to get the most bang for your buck on resale.
If you make additions to the home that are ultra-specific to your tastes or your hobbies, chances are you will not be able to recoup those costs on resale, which is okay. Our houses are ultimately our homes, and really, they’re for living in now, and not always about the next person. If you’re renovating just for yourself, good luck and have fun.