Embarking on a home construction project is always a major undertaking. It is scary to think that so much of your money can be put into such a project. It is simple in theory, but when families look at the numbers, they begin to have second thoughts.
An easy way to alleviate these fears is by looking at aspects of home remodeling that would “pay for themselves” down the road. While these projects still cost money now, they are financially beneficial five or ten years in the future. Here are some of those projects.
- Bathroom and Kitchen Remodels
Ask any potential home buyer what rooms they check out first. Nine out of ten will say they went to either the kitchen or the bathroom before any other space. And it makes sense.
Bedrooms and living rooms are defined by the furniture and electronics the new owner adds. But kitchens and bathrooms are defined by how they are constructed.
Remodeling these rooms in your home will cost money now. But it will give you a lot of value if you ever think about selling your home.
- New Appliances
Another change that will add value to your home’s price is a complete revamp of your appliances. For instance, your dishwasher, clothes washer, dryer, fridge and stove top may be very old. If these appliances are more than ten years old, it may be time for a change.
You can get great financing deals on such appliances. And if you ever need to sell your home, these new appliances will ensure you can put up a much higher asking price than comparable homes with older appliances.
- Outdoor Fireplace
There are many downsides to Canada’s cold climate. But one of the advantages is that you have any opportunities to sit by a fire outdoors. Adding a fireplace to your backyard will skyrocket your home value. It is such a luxurious and practical addition.
Not only will your family have so much fun spending nights by the fireplace, but if you ever decide to sell your home you can use it to your advantage. Simply showing prospective buyers the fireplace in action will leave them in awe. It will project that your home is one of class and luxury.
Remodeling is scary and it costs a lot of money. But the above three changes to your home will help boost its value in the future. So if you do go for a home remodel, these should be the first projects on your list!