Determining what may add value to your home can be vexing. You may spend a lot of cash on home renovations thinking they can add value to the property, but an appraiser disagrees.
If you are considering getting a home equity loan in BC, you might want to know which improvements can greatly impact the property’s value. So to help you increase the value of your home, you might want to consider the following renovation tips a professional mortgage broker has suggested:
1. Declutter And Clean
In order to boost the value of a home, start by minimizing the amount of things inside the property. Decluttering and cleaning are inexpensive projects, even in a big home. Both HomeAdvisor and private mortgage lenders agree that cleaning a four-bedroom house professionally may cost you between $180 and $220. But you can still save cash by doing the task yourself. You can get started with the project by going through the closets and cabinets and donating some of the stuff in there. Afterward, clean the drawers and other storage, ensuring that you don’t keep anything you don’t require.
2. Update The Finishes
Superficial changes may greatly impact home buyers more than intensive home improvements or renovations. Most realtors rave about the difference a new coat of paint will make, considering the low cost of the upgrade.
Your mortgage broker in BC can also recommend private lenders that can offer a home equity loan you can use on financing a renovation project. You may as well use the loan on other simple upgrades, like replacing light fixtures and changing the front door.
3. Update Your Window Coverings
Window treatments are usually a great insulator, which helps prevent cool or warm air inside your home from seeping outdoors. Though you might as well use window coverings to increase the value and style of your home. There are various options when it comes to window coverings. Some of these options include shutters, shades, drapes, curtains, and blinds.
4. Renovate The Kitchen And Bathroom
There is a good reason kitchen and bathroom renovations are very popular. When it comes to renovating your kitchen, many realty-seekers look for an open-concept kitchen. So this should be something that you need to consider. Use your renovation loan to paint the walls so that future owners may revamp them to suit their personalities. Though avoid creating a stale space. Instead, add a personal touch like a bold, bright wall or colorful décor.
5. Transform Any Unused Space
Most homes come with unfinished or extra space waiting for you to use. These may include bonus rooms, attics, and basements.
As a homeowner, leaving such space untouched means, there is square footage that you are not taking advantage of. Make use of the unused room to make your house appealing to a potential homebuyer or increase the living space for enjoyment.
If you are thinking of how you may improve the value of your home, be sure to root the expectations in reality. Upgrades rarely recoup 100% of the cost. Though it may make your family comfortable and even sell the property faster. If you are unable to pay for renovations, you may bridge mortgage to finance the entire project.