Are you thinking of selling your property in the short or medium term? There’s no need to throw your money away. Some renovations will increase the value of your home and others won’t.
You should know that in the current market, you may or may not get back 100% of your investment. So choose what will give you the best return on your investment. Target renovations that will add value and give a look that will make buyers see themselves in your home.
Our team of realtors in Lanaudière has some advice for you if you want to renovate for sale, so that you don’t lose out!
Should you renovate before selling?
Renovating before selling is generally recommended to increase the value of your house and attract more potential buyers. This is especially the case when you are in a market where sellers outnumber buyers: your property must make a difference and stand out. If your house is not selling fast, renovating may be the ideal solution.
However, this rule is not a hard-and-fast one! It is important not to spend more than you can expect to get back when you sell. A more favourable environment where buyers are numerous may exempt you from undertaking renovations.
The best thing to do is to consult a real estate expert to evaluate the necessary improvements and the potential costs before starting any renovation work.
How to renovate a house for resale?
Renovations to sell a house do not necessarily involve complicated actions. It requires a little bit of cleverness, but above all, it requires focusing on the most important elements to renovate.
In general, we focus on these three points: the painting, the kitchen and the bathroom. Why? Because these are the three areas where you are most likely to get a return on your investment.
Painting is a popular home improvement option for several reasons:
- It’s affordable – Painting is generally less expensive than other remodeling options such as kitchen or bathroom remodeling.
- It’s easy to use – Most people can paint their homes themselves, which saves money on labour costs.
- It changes the look of a room quickly – New paint feels fresh and new. Your tastes may not be universal, but painting helps make your home more attractive to others.
However, avoid colours that are too garish or too colourful, which are not proven to work in sales. This may not be to the taste of future buyers and prevent them from projecting themselves successfully. Instead, go for neutral colours or light tones, such as linen. White may be the most common colour, but for good reason: it promotes the impression of space in a room and attracts light. Perfect for offsetting any light deficiencies, for example.
With a few strokes of paint, you can add value to your property at little cost.
Renovate the kitchen and bathroom first
When it comes to the most suitable rooms for renovation, the kitchen and bathroom come first.
The kitchen is a very important room in the house. It must be up-to-date and as optimal as possible. Therefore, renovating it is an excellent choice.
A future buyer will often base his decision to buy on the kitchen. What renovation work can you do?
- Freshen up the colour: as mentioned earlier, repainting the kitchen will not only bring freshness, but will also give it a cleaner look, especially by removing any grease or traffic stains.
- Change or repaint the cabinets: the cabinets are getting old and change according to fashion. Just repainting them if they are made of wood or changing the handles can do the trick.
- Covering the countertop with adhesive film or replacing it can also bring a new cachet to your kitchen. For example, you can cover your countertop with a quartz-effect adhesive film, without having to invest to get a very nice look. However, it is still affordable to change it completely: if you can, do it.
- Repaint or cover the backsplash: if it’s tiles, repainting it in matte tones can be an option for a modern look, or in earthy colors like khaki green or taupe to follow the trend.
You can also think about adding an island or redoing the floor if it is required. This can make a big difference!
Besides the kitchen, the bathroom is, in our opinion, a must. Any realtor will tell you this, a property that has a beautiful bathroom sparks a “wow” from any buyer. Investing in the renovation of this room is therefore a priority.
A new bath-shower or the modification of the room to have a bath and a separate shower will certainly increase the selling price of your property. If you can create a separate shower, think of the flat tray in the Italian shower style that is very popular today.
If you can change the atmosphere of the bathroom to make it a zen place where the buyer can see himself relaxing, it would be a guarantee of success. For example, plaster and resin are very popular materials in the bathroom today and bring a lot of elegance. The raw wood also, used in decoration or furniture, works well to renovate a bathroom.
Also think about installing a new floor like PVC instead of tiles, which helps to feel more comfortable.
Other renovations that pay off for sale
You can also think about energy-efficient renovations. They can be doubly interesting. They bring a good return on investment and in addition, the expenses related to heating and air conditioning are likely to decrease. This is a significant point for future buyers. We can also think about the roof, the windows, the insulation, etc.
Renovating is important and profitable, but you must make sure that the work is well done and that the finish is perfect.
Imagine the following scenario: you decide to redo the kitchen cabinets, they are superb, but crooked… What will a buyer think when he notices it? He will probably think that the house hides other problems. That the work was not done according to the rules of the trade. He will then continue his research without including your house in his choice. Choosing your contractor well and doing the work right then makes sense.
Renovations to avoid when selling a home
You might think that some improvements or renovations can pay off, but think again, not all of them can. For example, adding a pool will not necessarily increase the value of your property. Neither will landscaping or paving.
Also, you must consider the neighbourhood. Preparing your home for sale involves analyzing the surrounding area. For example, if the type of properties in the area are bungalow-style with small dimensions, the fact of enlarging your house in a significant way (by adding a second floor for example), will not give a profitable return on investment. These are off-the-rack renovations that are probably too niche.
The value of the surrounding residences will affect the selling price of your property. So, considering the location of the house before renovating is important.
It is also important to avoid overloading the rooms. A refined decoration, without too much fuss is preferable to a messy one. The buyer must be able to see himself in the house. If the decoration is too personalized according to your tastes, he won’t be able to visualize himself. So tidying up the property and making sure it’s neutral can help you a lot.
Ask our opinion at Courtier Immobilier Lanaudière
There’s good to renovate to sell in general. But sometimes increasing the value of your home is not always worth the cost. If you have any questions regarding the sale of your home, please feel free to contact us. As experts, we assist in the sale of properties for sale in Lanaudiere and take pleasure in advising sellers to promote a good real estate transaction. We will be happy to accompany you and see with you what could increase the value of your property. We are well aware of the current market and can easily advise you. For many years, we have been developing our expertise and our marketing is very professional.
Doing business with Guillaume Tremblay’s team gives you even more chances to sell your property quickly and at a better price.