Check out these Handy Home Renovation Tips and the Impact they could have on your homes Value!!
1. Make a Plan Make a list of all the home renovations you’d like to undertake and then prioritize the items, deciding what is most important to you or most urgent and what can wait. Is the goal to improve your house for your and your family’s enjoyment or to add value before an upcoming sale? Maybe a new office space will help your productivity as you work from home. What’s a priority will vary from person to person based on your goals.
2. Set Your Budget Get in touch with different contractors for a quote to determine approximately how much your desired renovations may cost. Finding a reputable contractor can be challenging. Reach out to family, friends and neighbours for recommendations, and check reviews online.
3. Consider the Environment and Your Wallet Certain renovations can help lower your environmental footprint while also saving you money in the future. Replacing your doors and windows could help eliminate excess heat loss, and save you money on your heating and cooling costs.
4. Figure Out How You’ll Finance Your Project Maybe you’ve set aside a good amount of savings for your renovation or perhaps you’re considering using some of the equity in your home to fund your renovation. Could a combination of both options be best? Have an idea of how you’ll pay for things before you get started to avoid unnecessary stress later.
5. Inquire About Building Permits Before starting your project, find out if you’ll need a building permit. In most areas, building permits are required for things like additions, and structural or material alterations. Processing times may vary depending on your town or city, so the earlier you can apply the better.
Get the Highest Return on Your Renovation According to money.com, these home projects topped the list for highest cost recovery:
Refinish hardwood floors: 147% return on investment New wood flooring: 118% Upgrade insulation: 100% Converting a basement to a living area: 86% Closet renovation: 83% Converting an attic to living area: 75% Complete kitchen renovation: 75% Bathroom renovation: 71% Kitchen upgrade: 67% New bathroom addition: 63% New primary bedroom addition: 56%