7 Home Upgrades That Boost Your Property Value: Expert Tips from Montreal Real Estate Agents
One of the best ways to increase the value of a property is through strategic home upgrades. Upgrades not only make your property more enjoyable to live in, but they can also help it stand out in a competitive market and fetch a better price in the long run. When it comes to owning a home, investing in upgrades can be a great way to increase the value of your property. However, not all home upgrades are created equal, and it’s important to choose projects that will provide a good return on investment (ROI) if you plan on selling your home in the future. In this blog post, we will discuss several home upgrades that are worth investing in if you want to add value to your property.
Before we dive in, it’s important to note that the ROI of a home upgrade can vary depending on a number of factors, such as the local real estate market, the condition of your home, and the quality of the upgrades themselves. Additionally, some upgrades may be more valuable to potential buyers than others, so it’s a great idea to do your research and consult with a local real estate agent before embarking on any major home renovation projects. With that said, here are some of the top home upgrades that are usually worth investing in!
1.Bathroom Remodel – A bathroom remodel can also provide a good ROI, especially if your home has outdated or poorly designed bathrooms. Upgrades such as replacing the bathtub or shower, installing new tile or flooring, and updating fixtures can all make a big impact. Consider adding features such as heated flooring or a rain showerhead for a touch of luxury. When planning your bathroom remodel, keep in mind that you don’t have to spend a lot of money to make a big impact. Small upgrades such as replacing the toilet or sink, adding a fresh coat of paint, or installing new lighting fixtures can go a long way. Additionally, if you have more than one bathroom in your home, it’s a good idea to upgrade all of them to maintain consistency throughout the house.
2. Energy-Efficient Upgrades – Energy-efficient upgrades can not only increase the value of your home but can also save you money on your energy bills. In today’s environmentally conscious world, potential buyers are often willing to pay more for a home that is energy-efficient and environmentally friendly. Some popular energy-efficient upgrades include adding insulation (especially to your attic), installing a programmable thermostat, upgrading to energy-efficient window models, and upgrading your HVAC system. When planning your energy-efficient upgrades, keep in mind that some upgrades may have a higher ROI than others.
3. Kitchen Remodel – The kitchen is often referred to as the heart of the home, and for good reason. A well-designed and functional kitchen can greatly increase the value of your property. When it comes to kitchen remodels, the possibilities are endless. You can also consider upgrading your appliances to more energy-efficient models, which can save you money on your energy bills and make your kitchen more appealing to potential buyers. When planning your kitchen remodel, keep in mind that it’s important to strike a balance between style and functionality. You want your kitchen to be aesthetically pleasing, but you also want it to be practical and functional without being too personal in style. This means having enough storage space, counter space, and adequate lighting. A well-designed kitchen will not only add value to your property but will also make your day-to-day life easier and more enjoyable.
4. Smart Home Technology – In today’s digital age, smart home technology has become increasingly popular. Adding tech to your property can not only make your life more convenient, but it can also increase the value of your home. Popular smart home upgrades include installing a smart thermostat, adding smart lighting, and installing a smart security system. These upgrades not only make your home more efficient and secure, but they can also be controlled from your smartphone or tablet, adding a level of convenience that many buyers are looking for. When planning these upgrades, it’s important to consider compatibility and ease of use. You want to choose upgrades that are uncomplicated and integrate seamlessly with other smart devices in your home. Additionally, it’s important to consider potential compatibility with Alexa or Google Assistant.
5. Home Office Space – With the rise of remote work, having a dedicated home office space has become a must-have for many homeowners. Adding a home office or converting an existing space into a functional office can be a smart upgrade that not only meets your own needs but also appeals to buyers. When creating a home office, it’s important to consider factors like lighting, storage, and ergonomics to ensure that the space is functional and comfortable to work in. Additionally, a well-designed home office can boost your productivity and help you stay organized, which can be a major selling point for buyers who work from home or run their own businesses. By investing in a home office upgrade, you can create a space that meets your needs now while also adding long-term value to your property.
6. Outdoor Living Space – Creating an outdoor living space such as a deck or patio can increase the value of your property. Outdoor living spaces have become increasingly popular over the years, especially in areas like Montreal where the summers are short and people want to make the most of the warm weather. A well-designed outdoor living space can create an oasis in your backyard, a place where you can relax, entertain guests, and enjoy the outdoors without having to leave your property. When planning your outdoor living space, keep in mind that it’s important to create a space that is both functional and aesthetically pleasing, without catering too much to unique personal tastes. You want your outdoor space to be inviting and comfortable, but you also want it to be practical and easy to maintain. Choose materials and colors that complement the exterior of your home and create a cohesive look. Another important factor to consider when designing your outdoor living space is accessibility. Make sure that your outdoor space is easily accessible from inside the house, as this will make it more appealing to potential buyers. Consider adding sliding doors or French doors that lead from your living or dining room directly onto your deck or patio. This creates a seamless transition between indoor and outdoor living spaces and can make your home feel more spacious.
7. Flooring Upgrades – Flooring upgrades are another great way to add value to your property. Hardwood flooring is the strongest and most popular choice among home buyers, as it’s durable and easy to maintain. It’s also versatile and can complement a variety of design styles, from modern to traditional. However, if hardwood flooring is out of your budget, there are other options like laminate or luxury vinyl plank that can give you a similar look for less. Laminate flooring is made from layers of compressed wood and has a high-resolution image of hardwood on top, giving it the look of hardwood without the cost. It’s also easy to install and maintain. Luxury vinyl plank, on the other hand, is made from synthetic materials but has a high-resolution image of hardwood or stone on top, giving it a realistic look and feel. It’s also water-resistant, making it a great choice for areas prone to spills or moisture. Hardwood can last for a very long time, making it a great long-term investment. Other options tend to have a lifespan of about 10-20 years.
Investing in home upgrades is a great way to add value to your property and make it more appealing to potential buyers. However, it’s important to choose upgrades that provide a good ROI and appeal to a wide range of people.
All of the upgrades listed here are investments that can increase your property’s value and make it more enjoyable to live in. While some upgrades may be more tempting than others, it’s important to avoid upgrades that don’t provide a good ROI. Check out our blog post from a few weeks ago listing all the upgrades that we don’t recommend as great investments!
Whether you’re planning to sell your property in the near future or simply want to make it more enjoyable to live in, investing in home upgrades is a smart decision that can pay off in the long run. Keep in mind that not all upgrades are created equal, and it’s important to do your research and consult with a local real estate agent before embarking on any major home renovation projects. By choosing the right upgrades and investing in your property wisely, you can increase its value and make it a more comfortable and appealing place to call home.