Whether you are planning to sell your Calgary home or want to stay in it longer, it definitely pays to increase its value. Achieving this goal may actually be easier than you think. Here are 10 tips to increase your Calgary home value :
Plan out on remodeling your home.
If you want to increase the value of your Calgary home, plan on remodeling it. First, make a list of things to update and change. Estimate the length of time you want to live in your Calgary AB home. If you are planning to sell your home, a Calgary realtor can guide you with a selling plan. Categorize items in your list by how much they will cost and how much time it will take. A realistic budget and timeframe will help you determine which items are necessary and which are a lower priority.
Enlist the help of a Calgary realtor to get constructive feedback. This will guide you on the kind of returns that you may realize from the improvements you plan on making - whether it is minor updating or a full blow renovation project.
Focus on one room at a time.
Whether you take on a big renovation project or easier updating specific areas, these become achievable by focusing on one room at a time. Make a list of things to be done, and categorize in terms of cost and time to be spent. Fit in the activity to your available time frame, financial commitment and comfort level. The objective easily gets done by knowing the outcome of an activity after setting the costs. Every job completed adds value to your home. Slowly, your project takes shape by simply transforming each room before moving onto the next.
Minute improvements can pay off.
Updating and improving home decor actually pays off. Make two lists of things to update – one for your home, and the other for yourself. Permanent lighting, replacing old faucets and doors are beneficial changes for your home while artwork, window treatments and furniture help you enjoy the space more. Update something in your home every month and you will see the difference it makes before it's time to sell.
Cleanliness is still the best policy.
A clean and sparkly house always attracts buyers in the real estate market. It is always preferred over a cluttered and dingy one. Maintaining the cleanliness of your home will save you from great expenses in the future. It is wise to spot potential maintenance issues before they become worst problems that entail costly job. As a form of cleaning, you also need to de-clutter. A home that is clean and free from clutter offers a healthy living. Making your home's cleanliness a priority will make things easier. It prevents dirt and clutter from piling up.
Appreciating curb appeal.
Assess the impact of your Calgary home by going out on the street and viewing it from a distance. Check the curb appeal. See how it looks compared to the others and if it looks attractive and welcoming at first glance. Take the time to keep the walkway tidy, landscaping up to date and the front entryway clean and uncluttered.
Curb appeal extends beyond your own property line. The whole neighbourhood can affect the impact of your Calgary real estate. If possible build ties with neighbours to cleanup your entire surroundings. Trim hedges and mow lawns in your neighbourhood. Buyers appreciate curb appeal by viewing the sides and rear.
It works to upgrade your kitchen.
Calgary realtors will tell you that a kitchen upgrade contributes much to an increase in the value of your home. Try a mini-remodel of the kitchen by repainting cabinets to faux-wood and installing new tiles.
You may also want to go for stainless steel appliances to add a classy and modern look. If space allows, an upgrade of a rolling island would also look stunning in your kitchen.
Invest in a bathroom upgrade.
The bathroom is the most used room in a house. With its wear and tear, it must be maintained to function well and upgraded to look good.
- Improve the faucet. Since people want to relax in their bathrooms as they are in spas, upgrade the bathroom to suit their taste. Install under-mount sinks instead of drop-sinks.
- Use granite or marble for counter-tops. Try this in your bathroom first before doing it in the kitchen. The bathroom is smaller and less expensive.
- To add value and warmth to your bathroom, install wall mount lighting instead of overhead lighting. Have even lighting around your mirror.
- Make sure to have heated flooring to attract buyers.
- Upgrading your bath area would pay off when you sell your home. Install stone surround tile and a shower with body sprays.
- Clean and freshen up your bathroom. Grime and dirt can easily accumulate in bathroom surfaces. Use a new grout to freshen it up.
Decide on upgrading or selling your home.
Whether you stay or sell your home is a significant decision that you have to make. Determine if there is more value in moving on or in fixing up the house. Calculate the selling costs and realtor fees in selling the home. Also include other hidden items. Determine your expected return from selling the home and the amount needed to put down on a new one.
If you like your school district and neighbours, consider upgrading. Calculate the cost of making the critical renovations that would make you stay. Get estimates by calling contractors. Finally, decide the cost to move and the cost to upgrade or remodel.
Consult a certified home inspector.
Home inspection is essential, whether you are selling your Calgary home or not. Get an inspection done before listing your home for sale so you know in advance what issues or problems there are. Never have issues brought to you from a buyers home inspection, since that will result in a lower negotiated final price or may ultimately derail the sale.
A clean bill of health on a buyer's home inspection will create confidence for the buyer that your home has been well maintained and is worth the purchase price.
Prioritize payment of loan principal.
In making home improvements, don't disregard the cash. Adopt a financial strategy to boost the value of your home. In making a down payment put enough down to leave enough money for your home improvements.
Choose the right kind of home loan. The type of loan depends on where you plan to be in the next 5 to 10 years. Shop around to get the best rates and choose the best payment options to help pay off your mortgage sooner. Switching payment frequency from monthly to bi-weekly can shave thousands of dollars off your loan payments over the term of your mortgage. If you plan to refinance or move in the short term, don't lock into longer terms as the bank's payout penalty will be more than any interest rate savings.Posted by Ross PAVL on