When it comes to home renovations, there are normally two streams of thought. The first is to enjoy the updated, often more functional spaces, while increasing the value of one’s home. The second approach is to add value to a home by making it present better for selling.
Once you have a goal and budget in mind, the next step would be to contact a reputable contractor, like award-winning Rob-Ron Construction Ltd. in Victoria. Colleen Gibson, Project Manager for Home Renovations, is also a designer and can help you to prioritize projects in your house.
She advises that any renovation project should start with a comprehensive, cohesive plan for what the entire house will look like in the end, taking into account changes in paint colour, décor, flooring, and other elements.
“I see a renovation as being a bit like a jigsaw puzzle, once you put all the pieces together it makes a nice picture,” says Gibson. “If you have a plan in place, then you know it will come together.”
Gibson adds that the following four home renovations add the most value to your home.
- Kitchens, while toting a higher price tag to renovate, are considered the heart of the home for families and while entertaining. They also often help to sell a home. Certainly updating or improving the function of a kitchen pays off. Gibson suggests when renovating a kitchen, start with the flooring, then cabinetry, countertops, sink, appliances and finishes. Each successive choice often gets more difficult.
- Bathrooms are the most expensive to renovate per square foot, but a modern, clean bathroom can help make a home look more presentable. Bathroom renovations also start with flooring, then cabinets, countertops, tubs, sinks, showers and fixtures.
- New flooring also adds value to a home – and there are many more choices than carpet versus hardwood these days, says Gibson. Depending on the homeowner’s budget, there are attractive new vinyl flooring solutions that come in planks, as well as warm cork products, tradition tile and linoleum. There’s literally something for every budget.
- Gibson says homeowners get the biggest bang for their buck on interior painting, saying it looks clean and fresh right away. She recommends coordinating paint colours to create continuity from room to room, making just subtle changes in colour that won’t interfere with the flow. Painting rooms drastically different colours can lead to them feeling disjointed and small. A good paint job and colour choices will warm up a home and complement the overall decor.
In general, due to housing costs, many homeowners are purchasing homes that aren’t perfect because their ideal home is often out of their price range. Instead, buyers are spending more money to renovate homes in their desired neighbourhood, which then adds value to the home.
Those looking to renovate and then put their home on the market, can also get some tips from Gibson on what changes will help to both add value and help sell the home.
“If a home doesn’t present well and looks like it needs major renovations, buyers want to get it for a bargain,” Gibson says. “We can work with a homeowner’s budget to strategically select renovations that will add the most value to a home for selling it, if that’s the goal.”