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How to add value to your home

April 1,2019

Author: Mathew Lajoie

Increasing the value of your home doesn’t have to be a stressful or expensive endeavour. And it doesn’t have to involve a substantial time commitment. 

With some creativity and elbow grease, you can increase your property value in just a few days. All it takes is a little cleaning, tidying and refreshing.

Here are six simple ways to increase the value of your home:

1. Add a fresh coat of paint
One of the simplest and most effective ways to improve your property value is adding a fresh coat of paint. Painting interior walls and ceilings are low-cost home improvements that can yield up to a 75-100% return on investment. 

If you’re looking to maximize your painting budget, prioritize main living spaces like the living room, kitchen, and bathrooms. 

Consider painting your home with a neutral colour scheme for a clean and contemporary look, and if you decide to sell, this will help potential homebuyers envision the space as their own. 

2. The front door
You never get a second chance to make a first impression. 

Your front door is the focal point of your home’s exterior and sets the tone for visitors. It also plays a role in communicating the perceived value of your home. Give your place a facelift by adding a coat of paint to your existing front door and switch out the hardware.

3. Landscaping
Landscaping doesn’t have to mean adding gardens, or a deck to your yard. Simple upkeep, tidying, and working on maintaining existing exterior features will enhance your curb appeal.

Transform the look of your home by weeding gardens and walkways, over-seeding your lawn to keep it looking full, cleaning and filling visible cracks in walls, washing your windows, and adding some potted plants around entranceways. 

4. Simple tech
You don’t have to be a tech wizard to incorporate digital upgrades into your living space. Make your home smarter and more valuable by adding simple plug-and-play solutions like DIY home security systems, smart thermostats, and camera-integrated doorbells. 

5. Bathroom updates
Bathrooms are among the most used spaces in your home and are subject to more wear and tear because of it. Higher moisture levels and water exposure in bathrooms can wreak havoc on paint and finishes, leaving them looking tired. 

Freshen up your bathrooms by simply cleaning grout, removing rust stains, applying fresh caulk, and adding a coat of paint. This will make a world of difference in the appearance of your home - which can translate into value. 

Take it a step further by replacing faucets, adding storage solutions, updating cabinet hardware, and installing a low-flush toilet. These minor cosmetic updates can generate among the highest returns for home renovations. 

6. The kitchen is king
Your kitchen is the heart of your home. And updating this main living space is one of the most effective ways to increase property value. Before you start tearing out cabinets or replacing appliances, consider these simple upgrades that will make a big impact: 

•    Replace your countertop
•    Refresh your cabinets by painting them and swapping out the hardware
•    Update your light fixtures
•    Replace your faucets

Budgeting for your next project
Before you start, keep these three budgeting tips in mind for your home improvement projects:

1. Space out your projects. Completing one project before moving on to the next will allow you to accurately fit renovations into your home budget.
2. Don’t over improve. Over-improving your home will make it difficult for you to recover the cost of your upgrades.
3. Add 10-15% contingency in your budget for unexpected expenses. 

Upgrading your home doesn’t have to involve a team of professionals. Embarking on DIY projects and doing some simple refreshing can go a long way when it comes to adding value to your property. 

Check out our helpful tools to help you make smart decisions when it comes to your money.