The real estate market has skyrocketed over the past few years with a forecast to continue increasing. Although this is good news for sellers, high real estate costs are pushing buyers out of the market. If you are putting your house on the market, it would be beneficial for you to invest money into renovating your home in order to increase the overall value of your property and attract prospective buyers. Here are five home improvements in Toronto you should consider before putting your house on the market.
Siding
Exterior renovations are one of the most important things to consider in terms of home improvements in Toronto. The exterior of your house is the first thing that prospective buyers see and it is an opportunity to draw them in. Residing your house not only adds to the overall curb appeal of your house, but will also enhance energy efficiency and allow for structural repairs.
Deck
Another exterior renovation that should be considered before selling your home is building a deck. If you are fortunate enough to have space on your property for a deck, it will increase the value of your house to consider a deck during your home renovations in Toronto. If you are selling your house in the spring or summer months, a deck allows you to showcase a new and exciting space. If you are selling your house in the fall or winter months, it will give prospective buyers the opportunity to envision the potential of an outdoor space.
Basement Renovation
When considering home improvements in Toronto, the more space your home has the more appeal it will have on the market. Finished basements add significant value to your home. Prospective buyers are drawn to a newly finished basement as it would offer them additional living and storage areas. Basement renovations will add to the overall value of your home and make use of space that was previously unused.
Kitchen Renovation
Even if you do not completely renovate the kitchen, a minor kitchen renovation will contribute to your overall home improvement. Prospective buyers see value in a modern and up-to-date kitchen and this can be accomplished through things such as new cabinets, islands and counters. The kitchen is one of the first rooms that buyers want to see so it would be worth your while to invest some of your time in optimizing that space.
Bathroom Renovation
Bathroom renovations are a home improvement to consider before putting your house on the market. The bathroom is one of the most frequently used rooms by both the home owners and guests. Prospective buyers will see value in an up-to-date and modernized bathroom. Regardless if it is a new shower or installing heated floors, any upgrades made to the bathroom will have a significant return on investment.
