Renovate for Selling Your Home…
Renovations don’t have to be expensive or extensive to offer you a good rate of return. In fact, a quick coat of paint can go a long way to boosting your selling price. The kitchen and bathroom are your best bets for renovation with the highest payback. Take a look at these average rates of return for home upgrades:
- New lighting – 84%
- Interior painting and décor – 73%
- Kitchen renovation – 72%
- Bathroom renovation – 68%
- Exterior paint – 65%
- Flooring upgrades – 62%
- Window/door replacement – 57%
- Main floor family room addition – 51%
- Fireplace addition – 50%
- Basement renovation – 49%
- Furnace/heating system replacement – 48%
For example, on average then $100 spent on “new lighting” would yield $184 in increased resale value. Naturally each property situation is different, and the numbers above are not guarantees. Let’s talk about preparing YOUR home for market!
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