How To Add Value To Your Home

Silecky Thompson has worked with both home buyers and sellers every day for many years. This experience has given us an inside perspective on what works to sell a home and what doesn’t. Do home renovations increase property value? They certainly can, but it depends on the project and your strategy.

As a seller, there are few things more heartbreaking than investing in a home renovation that does not pay off. You lose twice, both in the money spent sprucing up your house and in the loss when the expected return on investment (ROI) does not materialize.

Some expensive upgrades can even make your house less attractive to potential buyers. How do you know what to focus on? In today’s post, we’ll highlight some of the best ways to add value to your house and what projects you can skip.

How much will your home earn in today’s market? Find out by booking your free home evaluation.

What Not to Fix Before Selling Your Home

If you’re wondering how to increase the value of your home, it begins with remembering who it is all for. Some projects are strictly for your own enjoyment. If you plan to stay for a long time, you might decide that they are worth it even if they don’t add to your selling price.

Other repairs are necessary to sell your home, even if they don’t add monetary value. Still others are simply a waste of time, effort, and money. The market changes and every home is different, so be sure to consult your real estate agent before scrapping any ideas. That said, these projects will rarely add a single dollar of incremental value to your home.

Looking for more home-selling insights? Check out the resources below:

#1 Skip-It Reno: Wall-to-Wall Carpeting

As the homeowner, you may enjoy the look and feel of your new carpet. However, it can be a turn-off to potential buyers.

They may be concerned about the health implications due to the chemicals used in manufacturing the carpet. Then there’s the potential to trap germs and pet odours. Carpet is often a serious concern for those with allergies.

If a buyer makes an offer, they may be expecting a discount to cover the cost of ripping out the carpets and replacing them with laminate or hardwood. Often, the concession ends up costing more than handling the project ahead of time.

#2 Skip-It Reno: Swimming Pools

A swimming pool may be on your personal bucket list, but you should never add one believing it adds value to your home. Many people consider it a hazard, especially if they have small children.

At the very least, potential buyers will be mentally calculating all of the costs for maintenance and repairs. If the numbers don’t make sense, they’ll be on to the next listing.

The best approach for swimming pools is, if you have one, be sure it looks its best. If not, don’t go to the time or expense of adding one. It is highly unlikely to be worth it when selling your home.

#3 Skip-It Reno: Over-Improving for the Neighbourhood

Owning the biggest and most impressive home in the neighbourhood may be good for your ego, but not for your sale. Location is at the top of mind for all potential buyers. The last thing you want is to push your price far above the median for your area.

If you’re hoping to recoup the cost for those renovations, think again. People will look at recent sales in your neighbourhood and expect to pay a similar price.

#4 Skip-It Reno: Extensive Landscaping

Your home may stand out because of your beautiful landscaping and attract more potential buyers. However, most home buyers do not fully appreciate how much those beautiful gardens or interlocking stone costs.

As a result, they are unlikely to offer more money in spite of all your efforts. Keeping it simple is usually the smartest strategy.

#5 Skip-It Reno: Invisible and Unnecessary Improvements

A new HVAC system, a new roof, or waterproofing may be required to sell your home, period. Homebuyers expect these things to be in good working condition and will not necessarily pay more.

It does not mean that you should not keep your home in good repair, it just means you need to think about these costs as the maintenance costs of owning a home. Also, if it isn’t broken, don’t spend time or money fixing it.

For example, a broken furnace likely needs to be replaced before putting your home on the market. An old but still functioning furnace does not.

The Best Renovations To Increase Home Value

Now that you know where you can safely save your time and money, let’s take a look at what adds value to a house. Some updates cost nothing but time, whereas others may require some investment.

Nevertheless, here are our top renovations that increase home value.

#1 Worth-It Reno: Declutter Fiercely

There aren’t many people who can see beyond scattered books, papers, dishes, and clothes everywhere. (Deduct even more points if the dishes or clothes are dirty.) If a potential buyer opens the door to inspect a closet and a pile of stuff falls on their head, their first impression is not likely to be a positive one.

Unfortunately, this happens more often than not. Fortunately for you, it’s an easy and inexpensive way to add value to your house.

Start by getting rid of everything you don’t need. Being merciless at this stage can pay off handsomely when the results are in, so it’s well worth the initial effort. If you have items that don’t add to your home’s aesthetic beauty, but you can’t bear to part with them, consider putting them in storage.

If the idea of sorting through years’ worth of belongings seems overwhelming, reach out for help. A full-service real estate team like Silecky Thompson can declutter your home in a fraction of the time it would take to do it yourself.

#2 Worth-It Reno: Fresh Paint and New Fixtures

Never underestimate the impact that a few minor touch-ups can have on your home. Even something as simple as a fresh coat of paint can dramatically improve its appearance and result in a higher final price.

Over time, light fixtures become outdated, and hardware such as drawer pulls and doorknobs become worn. Replacing them is relatively inexpensive, and the result is a memorable impression on potential buyers.

Your real estate agent can help you choose the right style and colours. Generally speaking, we want to avoid gloss as fingerprints and minor flaws show up too easily. In addition, light, neutral colours can make the house seem more spacious.

#3 Worth-It Reno: Bathroom Updates

The bathrooms are a high priority for many potential buyers. They’ll closely examine the layout, picturing their morning routine as their family gets ready for work and school.

A complete overhaul can be expensive. However, a few simple projects can also do the trick:

Updating faucets and shower heads can increase the amount of water flow and save on utility bills; plus, they’re much more attractive to look at than outdated hardware.
Peel-and-stick tiles can be a simple fix to modernize a tired-looking backsplash.
Replacing old towel bars and robe hooks can add both functionality and beauty.

Ultimately, the idea is to create a spa-like feel in the bathroom. Buyers should be able to envision those rushed routines and see a space where they can relax and unwind afterward.

#4 Worth-It Reno: Kitchen Remodel

Most buyers scrutinize the kitchen more than anywhere else in the home. If this one area impresses, you could be on your way to receiving a favourable offer. A total, top-to-bottom renovation can be time-consuming and disruptive, but you should always weigh your options carefully.

A substantial investment might pay off in a competitive market where buyers have the upper hand. If you prefer to keep it simple, a few minor improvements can also go a long way.

Storage space is a major plus for potential buyers! Anything you can do to make it easier to store and organize their kitchen tools will add to your home’s appeal.
If a full replacement isn’t practical, consider adding organizers to cupboards and drawers to maximize every inch of space.
Installing a turntable brings useless dead space at the back of counters and cupboards back to life. Plus, it’s just fancy!
Coffee makes the world go round, especially in today’s hectic pace! Creating a coffee nook adds an element of luxury, even if it’s tucked away in a small corner that would otherwise be unused.
A recaulk and grout refresh is a minor repair that quickly enhances your kitchen’s appeal. It’s a subtle effect, but highly impactful.
Under-cabinet lighting eliminates shadows and dark spaces from the food prep area. It’s another subtle way to create a luxurious look and feel.

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#5 Worth-It Reno: Create Curb Appeal

We realize that “extensive landscaping” made it into the above list of renovations that aren’t worth it. However, it’s all about balance. You don’t have to go overboard, but a positive first impression is a must if you want to maximize the value of your home sale.

What many people don’t realize is that it starts before your buyer even enters the house. The moment they see your front yard, they’ll already have made a subconscious decision.

Freshly cut grass in the spring and summer, raking the leaves in the fall, and a well-manicured garden any time of year will almost always boost your chances of a successful transaction. To enhance the effect even more, place solar lights along the driveway and any pathways.

In the winter, be sure to keep the driveway and front steps clear and salted. This is for safety as much as for aesthetic appeal.

Knowing what to fix and what not to fix before selling will make for a seamless, positive experience. It will save you time and money, and you can soon look forward to the next step in your real estate journey.

Do you want step-by-step guidance throughout the home-selling process? Our Etobicoke real estate agents are here for anything you need. Reach out today at 647-282-7653 or email contact@sileckythompson.com with any questions.