THE NEW MARILYN WEBSITE

The top five things you should spend money on to add value to your home

Today's real estate market is very different compared to 10 years ago. Home renovations are a great way to add value to your home and real estate expert Sarah Daniels has the tips you need to do so. 

Fix the flooring

Whether it's re-staining old hardwood or adding new, good flooring can add money to your bottom line, especially with hardwoods and tile. Durability pays itself as well since people are always looking for floors that good look and last. Carpets can stain and tear and arne't a good option. For people with allergies or asthma, carpets can even cause respiratory issues.

Paint 

Painting the walls in your living room, bedroom, and others can give your house that "new car smell"! Fresh paint also makes everything look cleaner. However, don't overlook painting the ceilings either. They can actually get dingy from all the cooking/smoke in your kitchen. 

Update lights and knobs

If you have a lot of old brass door knobs or fixtures in your home, get rid of them! It's amazing how more modern and updated a home feels when you get rid of these kinds of things. It doesn't have to be expensive either. While you’re at it, the same can be done for knobs and pull handles in the kitchen.

Refresh the bathroom

A new vanity is a great way to make your bathroom look way fancier than it is. Plus it can be done with less than $500! A new shower curtain (clear or white), white towels and glass accessories are also a great way to amp it up. Keeping it simple always looks more expensive (kitchens can be refreshed in much the same way).

Make your home attractive to millenial buyers

Take a look at homes that have sold quickly and get an idea of what is popular with buyers. A purple kitchen is going to be just for you. If you’re staying for 10 years, then who cares? If you're not staying that long, a white kitchen is probably a better idea. On the pricier end - you basically always win for a kitchen update, as long as you stay neutral and spend what is appropriate for your neighbourhood. A $300k house does not need a $75k kitchen.

How much can you increase your home’s price with touch ups?

  • Hardwood floors can add 150% but each is a case-by-case basis.
  • Paint pays for itself (say a pro paint job for $5000) and, depending where, can up to double in return.
  • Light fixtures and knobs can change the whole look of a place and can be a 500% return on investment.
  • $500 on the bathroom, done right, can add $2500 - $5000.