74% of Canadian homeowners renovated their properties during 2021, according to HomeStars. With so many people transitioning to remote work and spending large parts of their day at home, it makes sense that they want their accommodation to look amazing.
Before you begin though, remember that not all home renovation projects are created equal – some can be a colossal waste of money that won’t add value to the resell of your home. To make money, or at least not lose any, it’s critical that you dedicate time to research, planning, designing, and budgeting your renovation project.
You can also prioritize taking on a best value home renovation project, including the following.
Garage or front door replacement
Hoping to enhance the curb appeal of your home? By switching your front and/or garage doors, you’ll appreciate the new look every time you pull back into your driveway.
If your current doors are damaged, faded or just look outdated, then this is a simple and affordable project to commit to.
Remodeling Magazine reveals that a garage door replacement costs an average of $3,907, and you could expect to add $3,663 to your property resell price. Similarly, if you’re looking to increase security by adding a steel front door, this will cost around $2,700 and add somewhere in the region of $2,000 to your home’s value.
Insulation upgrade
Any energy-efficiency upgrade you can make to your home will help to reduce your monthly bills but will also appeal to future buyers who want the assurance of living in an eco-friendly property.
A quality insulation upgrade should help to regulate the temperature in your home so you’re not as dependent on heating or cooling systems to stay comfortable. You might expect to pay around $2,400 on an insulation project, according to NARI. Remember that not only could you add $2,000 or more to your property’s value, but you’ll also start to enjoy immediate reductions in your outgoing bills.
Flooring replacement or refinishing
The type and condition of your flooring can either give your interior a huge lift or can downgrade the appeal and value of your home if they’re looking tired and shabby. New wooden flooring makes a statement and can provide you with that luxury feel.
The exact cost of your flooring will depend on how many rooms you need to lay and how many square feet they cover. For example, you might only want wooden flooring on your ground floor and choose carpet in your bedrooms upstairs.
But to give you an average figure, the National Association of the Remodeling Industry estimates $4,700 for wooden flooring replacement in a typical property.
Of course, replacement isn’t the only option though. If you already have solid wooden flooring in pretty good shape save for a bit of wear and tear, then refinishing your hardwood is a cost-effective alternative.
Removing scratches by sanding and then refinishing in a polish of your choice will typically cost $2,600, so almost half the cost of the replacement price. You can expect to recover the entire investment, which makes this a great value project.
Recarpeting
More floors again, but this renovation project is based on the carpets in your home. Carpets are a lovely choice for your home if you like to walk around barefoot and appreciate the level of comfort they provide. They’re also great for helping to insulate your home, and making it feel cozy.
If you already have carpets, then you’ll know that they can quickly become stained and shabby if you don’t clean them regularly. But sooner or later, even regular carpet cleaning will stop working its magic.
If it’s time to switch to a fresher alternative, you’ll instantly improve the chic factor in your home by laying new carpet. You can expect to spend an average of $1,759 on a new installation, according to HomeAdvisor. Don’t expect to recoup much or any of this investment in your property resell value; however, be aware that new carpets can help buyers commit to making an offer. The reverse is also true – unattractive carpets can put buyers off striking a deal.
Painting and decorating
By far the easiest home renovation task to commit to, especially for DIYers, is a painting and decorating project. Almost anyone can do a great job so long as you work with a neutral palette that appeals to most tastes.
You can expect to spend approximatelyf $3.50 per square foot, with the average room costing somewhere between $200 to $1,000 to decorate. This will depend on how many coats you require and the quality of your brushes and rollers.
So, what’s the best shade to use for your decorating job? Zillow Paint Colors Layoff Analysis recommends choosing a pinkish taupe tone for your living room and periwinkle blue for your bathroom if you’re interested in increasing your sale price. Could these colors work in your home?
Arrange an evaluation
Have you recently carried out some renovations and want to see how much they’ve impacted the worth of your home? Hopefully you’ll have made a great return on your investment. To gain an accurate market value of your property, get in touch with Sweetly today. We’re available on 780.477. 9338.
Sweetly’s Models
Sweet Sale
With the Sweet Sale, you get a Fair Price Cash Offer. It’s a fair offer that lets you sell without showings and choose your own moving day.
Start your sale with a Free, Fair Price Cash Offer, which remains open to you for 60 days. Activate our offer any time – even without listing/showing your home, or at some later date if your home isn’t selling. Compare our hassle-free, all-Cash offer to a traditional MLS® listing. Make an informed decision. Choose what’s best for you. Offers remain open to our customers for 60 days. Our offer is withdrawn if you list with an outside REALTOR®.
Listing With Confidence
A traditional listing allows you to test the market with your price. A listing with Sweetly comes with it’s own set of perks.
- Test the market with confidence, knowing you’ll have a Sweet Sale available if your home doesn’t sell.
Start with an fair price cash offer to know the current value of your home. Then, decide ‘how’ you want to sell, BUT before you do, you can shop at your pace to find the right house. Beat out any competing buyer because you won’t need a ‘condition of sale’ so your offers are stronger without spending extra money. Once you have a firm purchase you can sell your house to Sweetly on a day that works best for you.
