Home upgrades are a hot topic right now for several reasons. Despite the many hurdles brought on by the pandemic and inflation, there are still ways to make updates to your home that result in a positive return on investment. Inflation is making everything more expensive, from building materials to fixtures, and supply chain issues and raw material shortages are also causing issues during residential renovation projects. None of these hurdles means you shouldn’t make updates, especially to highly sought-after post-pandemic features such as home offices and outdoor living spaces. Below are ideas for making valuable upgrades:
- Add physical square footage or make the home feel more spacious (finishing a basement or opening the floor plan)
- Convert or build a home office now that working remotely is more widely accepted.
- Invest in your home’s curb appeal. Basic yard care, such as cutting the grass, weeding and fertilizing can go a long way. Consider mulch or pine needles for natural areas, and make sure your mailbox and house numbers are in good shape. Touch up or redo your exterior paint, or at a minimum pressure wash the exterior. You can also pressure wash your driveway and patio if those areas need a refresh.
- To enhance your home’s outdoor livability, consider adding a deck or patio. A fire pit or outdoor fireplace are also desirable features for buyers right now. A pool with a hot tub and an outdoor kitchen are also hot ticket items.
- Give prospective buyers a warm welcome by creating a cozy front porch with plants and rocking chairs, if you have the space.
If you aren’t ready to commit to a full renovation, consider making smaller updates:
- To give your kitchens and bathrooms a fresh look, update the fixtures, such as faucets, drawer knobs and pulls.
- Small-scale remodels – instead of gutting a kitchen, just replace cabinet fronts, countertops and appliances.
- If you have hardwood floors that are very worn and have seen better days, refinish them.
- Paint is one of the most inexpensive updates you can make, and it brings so much value. Paint using light, neutral colors so that buyers can imagine their own décor in the spaces.
Thinking of selling in the near future, and have an idea of your prospective buyer pool? Making smart upgrades based on your market and type of buyer will get you the most bang for your buck. For instance, you may consider making maintenance upgrades to possible areas that could turn buyers away. These will depend on your home’s age and condition (i.e., replacing your aging HVAC). If your buyer is likely a millennial, smart home technology is an area to consider, such as keyless entry and Wi-Fi upgrades. However, if your buyer is nearing retirement, updates that take into account accessibility (full bath on the main level, wide doorways and halls, etc.) are attractive.
Ready to list your home or move to the Queen City? Contact your preferred Dickens Mitchener agent or reach out to Catharine Pappas, VP of Relocation at Dickens Mitchener, to pair you with an agent today!
