Even with a global pandemic, Canadians are continuing to improve their living spaces with renovations and remodels. A recent study found that about half of all homeowners have already done or are planning renovations to their homes.
If you’re in the reno mood, here are some changes you can make to your home to boost your equity and your property’s resale value.
1. Replace your garage door
Improve your curb appeal by enhancing the exterior of your home and swapping out your garage door. Go for a more robust, durable, and modern look.
2. Stone veneer
Manufactured stone veneer is in demand, and will boost your resale value by enhancing your property’s aesthetic. Stone veneer is a great way to modernize your property at an affordable price.
Enhancing the landscape of your property is another sure-fire way to improve its value. Consider adding plants and flowers of different sizes and colours for a dramatic look. You could also install a water feature or walkway for added effect.
4. Deck or patio space
Over 50 percent of Canadians are focusing on improving the outside space of their homes, such as adding a deck or patio. Because the pandemic has caused us to spend more time at home, extending your living space is a wise investment.
5. Minor kitchen renovations
You don’t need to make major changes to boost the resale value of your home. Even minor alterations can make a big difference, such as new appliances, countertops, or sinks. It can also improve the atmosphere of your space and increase the enjoyment of your kitchen.
6. Vinyl windows
Installing energy-saving vinyl windows is an excellent green project for your home. Just ensure that the exterior trim matches what is already there.
7. Basement remodel
Improving the basement can net you more when it’s time to sell your home. Make small changes like covering cement floors with subfloors and carpets or increase the lighting, and you’ll see some big differences.
8. Front door
Any changes you can make to the front door or entryway can pay off big when you want to sell. Consider swapping the door out for a stronger material, painting it, updating the trim, or modernizing your columns.
9. Replace siding
Improving the structure of your home will impress appraisers and give you instant value. It is also one of the most affordable renovations you can make to your home.
When it comes to improving the appearance and value of your home, some minor changes can go a long way.
If you are interested in learning more about mortgage solutions in Ontario or anywhere in Canada, call Northwood Mortgage™ at 888-492-3690 or contact us here.