Theresa Baird - HOME IMPROVEMENTS THAT IMPROVE VALUES

HOME IMPROVEMENTS THAT IMPROVE VALUES

HOME IMPROVEMENTS VEMENTS THAT IMPROVE VALUES

Theresa Baird

Table Of Contents

Remodeling – is it Worth it?

Where to Spend the Money

Renovations That Cost More Than the ROI

Skip the Trends, Boost the Value: Design Tips That Work

Don't Overdo it:

Outdoor Improvements

Flooring, Walls, and Lighting

Stirring Up the Perfect Kitchen

Living Room Lift: Making the Heart of the Home Shine

10. The Ultimate Retreat: Bedroom and Attic Makeovers

11. Refreshing the Restroom: Bathroom Renovations with a Splash of ROI 54

12. Smart Expansions: Maximizing RROI. on Remodels and Additions

13. Wrapping it Up: Your Guide to Smart Home Improvements

About Theresa With an extensive career spanning over two decades in the real estate industry, Theresa brings a wealth of knowledge and expertise to her professional endeavours. Beginning her 25th year as a distinguished real estate professional, Theresa consistently ranks in the top 5% of realtors nationwide, showcasing an impressive track record over the past 20 years. Her unwavering commitment to excellence is not only evident in her outstanding sales performance but also in her continuous pursuit of professional development. Theresa holds esteemed designations, including Senior Real Estate Specialist (SRES), Resort and Second Property Specialist, and Certified International Real Estate Expert and (PREN) Professional Real Estate Negotiator. These credentials underscore her dedication to staying abreast of industry trends and ensuring she delivers the highest level of service to her clients. Born in Toronto and having embarked on a career that afforded her extensive travel throughout Canada and the United States, Theresa has cultivated a unique understanding of diverse real estate markets. With years of experience in real estate, she has successfully guided countless clients through diverse transactions. From assisting first-time homebuyers to facilitating the acquisition of additional properties for those moving up or downsizing, she has a proven track record. Additionally, she has personally navigated the purchase of a vacation property across international borders. As a testament to her exceptional performance, Theresa has garnered numerous accolades throughout her career, consistently earning recognition as the Top Individual Agent at her brokerage. Theresa's leadership extends beyond her own.

success, as she has mentored over 50 new realtors, guiding them in launching their own successful real estate careers. Currently, she leads a dynamic team of real estate agents, further solidifying her position as a respected figure in the industry. Residing in Mississauga with her husband, Bob, Theresa values family time and cherishes moments spent at their cottage in Muskoka or their Florida home with her grandchildren, Jack and Morgan. Her dedication to her clients transcends the transactional aspect of real estate. Theresa's primary goal is to provide the highest level of service, ensuring her clients not only achieve their real estate goals but also experience a seamless and stress-free process. Theresa and her team are here to help you with buying, selling or investing. You can call, email or text the team anytime, we are always available for you or your referrals.

CHAPTER 1 Remodeling – is it Worth it? Renovation Decisions: Boosting Your Home’s Value and Comfort Remodelling. You’ve been thinking about it for a while now. That choke point in the kitchen is maddening, the wallpaper in the bathroom is a crime against good taste, and the basement has looked like a dungeon for years. Not to mention the upgrades to the doors, windows, and landscaping that have been the subject of so many dinner table discussions. It crosses your mind that maybe it would be better to just move and leave all the home’s faults for someone else to figure out. Then again, your job isn’t going to last forever and you may have to move in five or six years anyway. Maybe it would just be best to tough it out until then. After all, no one gets their money back on remodelling projects at the time of sale anyway, right? The truth is that deciding to remodel can be an extremely stressful decision. It affects your savings, your enjoyment of the home, and the property’s potential resale value. Yet, since the housing bubble burst and the Great Recession came along, more and more people have decided to take on the task of remodelling, frequently attempting the projects themselves to save money. A surge in renovations across the country had been driven largely by low interest rates and the rise in home prices. It's important to weigh the cost of an addition versus the cost of moving and buying a larger home. Consider if simple small updates can provide for personal satisfaction and potential ROI. Even in the current market, with home prices going back up and

homes selling quicker in many places, remodelling can still be a wise decision. The improvements may help set your home apart from the pack if and when you choose to sell. Or you may find that while your home will already sell quickly and for a good price, you still can’t quite afford the upgrade home you want, and it would help both your current standard of living and the future resale value to improve the property. It makes sense that if your home is increasing in value, the values of the homes you are looking at will also be rising; you are not alone in deciding to remodel. However, then comes the hard part — deciding what to do and how much to spend. There are myriad factors to consider. How long do you plan on staying in the house? What is your budget? What kind of projects do you need done the most? Or rather, what about your house drives you the craziest? How long you plan to remain in the house is perhaps the most important of those questions. The less time you expect to spend there, the less time you have to spend enjoying the fruits of your hard work. It also means that you are going to need to have some money left over when the time comes to move. In such a case, you are going to want to focus on the projects that give you the biggest Return on Investment (ROI). For example, simple and relatively inexpensive things like replacing old doors and windows can have a return of 100% or more in the right market. A major remodel of a kitchen or basement will generally bring less than a 100% ROI. The goal of this book is to show you that it is possible to remodel for both personal satisfaction in your home and for increased value should you decide to sell, and to help you decide where and how to best spend your money so that you get the most out of your hard work.

Now, before you go off and start planning that $20,000 plua.

bathroom renovation, it is important that you do your research beforehand to make sure that you are going to get the best possible results. The single best thing you can do to help direct your home renovation project toward improving its sale value is to contact a real estate agent, especially if you are planning on selling within the next few years. While we will be going over several examples of where to spend your money that transcend markets, each market is different in important ways. An agent will know your specific market and what sort of improvements, colours, and styles are most sought- after in your area. A real estate agent will also be able to suggest simple fixes with low costs, as well as contractors who are able to perform the work. Another simple rule to follow is to make sure you get whatever permits your municipality requires. Trying to skirt the permit system may seem like a good idea in the short term, but it can lead to far more anxiety and expense in the long run. With all of this in mind, let’s dive into the nitty-gritty of home remodelling, beginning with a more detailed look at where you should spend your money and how much you should expect back from your investment.

CHAPTER 2 Where to Spend the Money

When it comes to remodeling, going big doesn’t always mean getting the best bang for your buck. Instead, the smart money is on refreshing or replacing existing features like windows and doors, ideally with a tasteful mid-range upgrade. Let’s take a quick tour of the top spots to invest your hard- earned cash for the greatest return. We’ll dig into where and how much you can expect to recoup when the time comes to put that “For Sale” sign in the yard. We’ll start with replacement projects and then dive into some of the heavy hitters like kitchen and bathroom remodels. Replacements These projects are straightforward, relatively low-cost, and accessible to most homeowners. According to Remodeling magazine, the top four improvement projects in terms of ROI are: Notice anything? None of these are jaw-dropping, dramatic overhauls. So why do they pack such a punch? The answer lies in visibility. All these changes enhance the exterior of your home, creating a solid first impression that helps set the home’s value in potential buyers’ minds. Other replacement projects that offer a good return include swapping out old windows for new vinyl or wood frames and installing a new roof, which can yield returns of 71% and 62%, respectively. • Garage door replacement: 98.3% • Manufactured stone veneer: 97.1% • Deck addition (wood): 82.8% • Minor kitchen remodel: 81.1%

Keep in mind that these ROI figures can vary depending on your market. Remodeling There’s a lot to be gained from sprucing up the inside of your home too. For one, it increases your own enjoyment—after all, who doesn’t want to love where they live? And if you’re selling, it’s crucial that the good impression from the outside carries through once buyers step indoors. As with any home improvement, there are smarter ways to spend your money. And let’s face it, kitchens sell houses. According to Remodeling magazine, kitchen remodels offer an average return of 79.3% nationwide, making it the best Beware, though—these projects can get pricey. On average, large-scale remodels can run into the tens of thousands of dollars, so it’s essential to carefully consider how much you’re willing to spend and what’s in demand in your market to maximize your return. Additions If you’re looking to add value to your home and make it more functional for yourself, you might consider adding entirely new rooms. But be warned: this is a big step with an even bigger investment. Room additions generally aren’t cost-effective if you’re planning to sell within the next few years. However, if you plan on staying put for a while to enjoy the fruits of your labour, they can offer a reasonable ROI. Some additions are more financially worthwhile than others: • Master suite: 52% • Deck addition: 70% • Bathroom addition: 62% investment for a full-scale remodel. Other worthwhile projects include: • Attic bedroom: 53% • Bathroom remodel: 62% • Basement remodel: 63%

As you can see, the ROI range is fairly broad, though not as dramatic as with less ambitious remodels. Interestingly, some of the most expensive projects (like a sunroom addition, which can average over $72,000) often provide the lowest returns. Building costs can vary widely. For example, a 200-square-foot sunroom addition with footings and a slab-on-grade foundation can cost up to $70,000, while a survey on HomeAdvisor.com found that sunroom additions average around $16,315. Another factor to consider is that buyers may not share your taste. Even if they do, they only see the finished product and won’t appreciate the effort (or the receipts) that went into creating it. This is why it’s crucial to understand how these statistics play out in the real world. Take a roof replacement, for example. It’s often touted as having a high ROI, but let’s be honest—no one gets excited about a roof unless it’s leaking. A roof is like the bass player in a band; you only notice it when it’s not doing its job. So, while a bad roof can certainly hurt your home’s value, a solid, trouble-free roof is simply expected. Don’t replace your roof with an eye toward selling unless your home clearly needs it. That said, energy-efficient architectural shingles with a transferable warranty can be highly attractive to the right buyer. Remember, more money spent doesn’t necessarily mean a bigger return. Going back to the kitchen example, a relatively minor $20,000 remodel yields a much higher ROI than a $55,000 remodel. Buyers love a big, beautiful kitchen with an island and shiny stainless-steel appliances, but they won’t be as impressed by custom stained cupboards or high-end Wolf appliances. In fact, very high-end features can sometimes be a turn-off, either because the buyer isn’t familiar with them or knows just how hard it is to get parts when they fail. Basements can be tricky too. A spacious rec room is a draw, but it often won’t be counted as living space in an appraisal or the home’s listed square footage. People also tend to have their own ideas of what a rec room should be. If your basement isn’t

finished yet and you’re planning to move in less than five years, it’s best to either leave it alone or do a basic, budget-friendly finish, allowing the buyer to customize it to their own tastes. Don’t Overlook the Basics Finally, don’t forget the fundamentals. When buyers are touring a home, they don’t expect to find leaky pipes, a non-working furnace, or outlets that short out as soon as they’re used. Issues like mold, a leaky roof, or stained and damaged carpet can turn off a buyer, no matter how stunning the kitchen and bathrooms are. Some of these issues, especially less visible ones like an aging furnace or water heater, might seem like a waste of money if you’re planning to sell soon, but they’re actually crucial. Even if buyers don’t notice these issues on an initial walk- through, appraisers and inspectors certainly will. An appraiser will factor aging equipment and worn-out flooring into the home’s value. A home inspector will point out that, even if it’s running smoothly now, a 25-year-old furnace is living on borrowed time, which might lead a buyer to want the cost of a new one deducted from the sale price. So, if you’re planning to move in the near future, it’s worth investing in basic system repairs or replacements. These improvements may not add significant value, but they won’t subtract value either—and they’ll help your home sell faster. New, energy-efficient furnace and air conditioning units can be a selling point, and there may even be tax credits available, lessening your initial investment. And remember, even if these repairs don’t add value in the buyer’s eyes, they’ll help keep the sale process smooth and stress-free.

CHAPTER 3 Renovations That Cost More Than the ROI When it comes to remodeling, the idea that "bigger is better" doesn’t always hold water. In fact, full-scale renovation projects often fail to deliver the best return on investment (ROI). Instead, a smarter approach to getting the most value for your time, money, and sanity is to refresh or replace existing features like windows and doors with a sensible, mid-range upgrade. Let’s explore the places where your money is best spent for maximum ROI, as well as some of the areas where you might not get your money back when it’s time to sell. We’ll start with some replacement projects before moving on to those larger undertakings, like kitchen and bathroom remodels, where the ROI can be a mixed bag. Replacements: The Safe Bets Replacement projects are relatively simple, low-cost, and within reach for most homeowners. According to Remodeling M agazine, the top four improvement projects in terms of ROI are:

• Garage door replacement: 98.3% • Manufactured stone veneer: 97.1% • Deck addition (wood): 82.8% • Minor kitchen remodel: 81.1%

These aren’t dramatic, headline-grabbing changes, but they’re highly effective. Why? Because every one of these projects impacts the visible exterior of your home, creating a positive first impression that lingers in the minds of potential buyers. And, as we all know, you never get a second chance to make a first impression! 10

Other replacement projects that yield a good return include swapping out old windows for new vinyl or wood frames and installing a new roof, offering returns of 71% and 62%, respectively. It’s worth noting that ROI numbers can vary depending on your specific market. So, a little local research (or a chat with your Now, let’s talk about remodeling—because what’s life without a little risk, right? One of the main benefits of redoing a room or two inside your home is that it can dramatically increase your enjoyment of the space. After all, a kitchen you love can make even cooking dinner a little less of a chore. favourite real estate agent) might be in order. Remodeling: The Good, The Bad, and The Costly But if you’re planning to sell, it’s crucial to extend that good impression from the exterior to the interior with further improvements. However, as with all things in life, there are better and worse ways to spend your money. And here’s where it gets tricky. As the old saying goes, “Kitchens sell houses.” And it’s true—kitchen remodels average a return of 79.3% nationwide, making them one of the best investments for a full-blown renovation project. Other worthwhile remodels to consider include: • Attic bedroom conversion: 53% But beware—these projects can be expensive, with national average costs running into the tens of thousands of dollars. So, it’s essential to consider how much you’re willing to spend and what’s in demand in your market to maximize your return on such a large investment. Additions: When Bigger Isn’t Always Better • Bathroom remodel: 62% • Basement remodel: 63% Considering adding an entirely new room to your home? This can add value and improve functionality, but it’s also a major step with a hefty price tag. Room additions generally aren’t cost-

effective if you’re planning to sell within the next few years. However, if you plan to stick around and enjoy the extra space, they can provide a reasonable ROI. Some additions are more financially worthwhile than others: • Master suite addition: 52% • Deck addition: 70% • Bathroom addition: 62% There’s a fairly wide range in the ROI of these projects, though not as large as with some less ambitious remodels. A careful reading of the data shows that some of the most expensive projects—like a sunroom addition averaging over $72,000 nationwide—often provide the lowest returns. Building costs can vary widely. For example, a 200-square-foot sunroom addition with footings and a slab-on-grade foundation can cost up to $70,000, while HomeAdvisor.com reports the average cost for sunroom additions is around $16,315. That’s a lot of money for a room that might just end up being the nicest spot for your plants. Remember, buyers may not share your taste—or even if they do, they only see the finished product and won’t appreciate the sweat equity you put in. This is where understanding how these statistics play out in real life becomes essential. A Few Caveats and Considerations Let’s circle back to a classic example: the roof replacement. It’s often cited as having a high ROI, but let’s face it—a roof isn’t exactly the showstopper of your home’s ensemble. It’s more like the drummer in a band: essential, but only really noticed when it’s out of sync. So, while a bad roof can certainly detract from a home’s value, a solid, trouble-free roof is simply expected. Its main value as a seller is how it stacks up against other homes with older roofs that are starting to show wear. Don’t replace your roof with an eye toward selling unless your home clearly needs it. And remember, just because you spend more doesn’t mean you’ll get more back. For instance, a relatively minor kitchen

remodel of $20,000 yields a much higher ROI than a $55,000 overhaul. Buyers might love a large kitchen with an island and shiny appliances, but they won’t be as impressed by custom cupboards or imported gadgets that could double as spaceship controls. Basements can be another tricky area. A large, cozy rec room might appeal, but it often won’t count as living space in an appraisal or the home’s listed square footage. If you’re planning to move in less than five years, consider a basic, budget-friendly finish, allowing the buyer to customize it to their own tastes. The Bottom Line: Don’t Neglect the Basics Finally, don’t overlook the fundamentals. Buyers expect the basics—no leaky pipes, a working furnace, and outlets that don’t pop a breaker when used. Issues like mold, a leaky roof, or damaged carpet can turn off a buyer, no matter how stunning the kitchen or bathrooms are. Some of these issues, especially less visible ones like an aging furnace or water heater, might seem like a waste of money if you’re planning to sell soon, but they’re actually crucial. Even if buyers don’t notice these issues on their first walk- through, appraisers and inspectors will. An appraiser will factor aging equipment and worn flooring into the home’s value. A home inspector will point out that even if everything is running smoothly now, a 25-year-old furnace is living on borrowed time. This might lead a buyer to want the cost of a new one deducted from the sale price. So, if you’re planning to move soon, it’s worth investing in basic system repairs or replacements. These improvements may not add significant value, but they won’t subtract value either—and they’ll help your home sell faster. New, energy-efficient furnaces and air conditioning units can also be a selling point, with the added bonus of potential tax credits, easing your initial investment. And remember, even if these repairs don’t boost the sale price, they’ll make the selling process smoother and stress-free.

CHAPTER 4 Skip the Trends, Boost the Value: Design Tips That Work

Features to Avoid When it comes to remodeling or upgrading your home, certain projects—no matter how much you might love them—won’t do you any favours when it’s time to sell. And then there are those outdated styles that practically beg to be updated. Here are some features to avoid if you want to keep potential buyers interested. Inconsistent Architecture Mixing architectural styles can be like pairing pickles with ice cream—confusing and unpleasant. If your ranch-style home sports Greek columns on the front porch or your log cabin has art deco accents, it’s time to rethink the design. Each style has its own charm, so embrace it. Otherwise, you risk leaving buyers with architectural whiplash. Oversized Kitchens We can thank celebrity chefs for the trend of sprawling kitchens with every gadget under the sun. But unless you’re hosting gourmet dinner parties with a team of sous-chefs, a kitchen the size of a ballroom might feel more overwhelming than inviting. Consider creating cozy nooks or segmenting the space for a more practical layout.

Faux “Old World” Design

Dreaming of Tuscan villas or Parisian lofts? That’s all well and good, but unless you’re importing materials (and a vineyard), these faux “Old World” designs can come off as inauthentic. Instead of trying to recreate European elegance, focus on enhancing the genuine beauty of your home’s existing style. White Appliances Once upon a time, white appliances symbolized cleanliness. Today, they’re more likely to evoke thoughts of endless scrubbing and stubborn stains. Plus, they yellow over time. Instead, opt for sleek black or stainless steel, which is both modern and low-maintenance. Wallpaper Wallpaper can make a bold statement, but that statement might just be “Yikes!” if the pattern is outdated or the paper is peeling. Removing wallpaper is a notoriously tedious job that most buyers aren’t eager to take on. Stick with paint—it’s easier to update and won’t hide mold in the walls. Carpeted Bathrooms Once seen as the epitome of comfort, carpeted bathrooms are now considered a hygiene nightmare. Carpets and water don’t mix—think mold, mildew, and other unsavoury issues. Opt for heated flooring instead; it’s a luxurious upgrade that buyers will appreciate far more than soggy carpet. Gaudy Gold Fixtures and Hardware Gold fixtures can add warmth and sophistication—or they can make your home look like it’s stuck in the ‘80s. If your faucets and drawer pulls are gleaming like Liberace’s wardrobe, consider swapping them for more contemporary metals like polished brass or brushed nickel. Tiled Countertops Tiled countertops might have been trendy once, but they’re

more trouble than they’re worth. The grout is a magnet for stains and bacteria, and if a tile chips, good luck finding a replacement. Consider upgrading to a solid surface like granite or quartz—it’s easier to clean and looks far more polished. Cheap Wood Paneling High-quality wood paneling can add character and warmth to a home. But if your walls are covered in flimsy panels reminiscent of a basement rec room, it’s time for a change. Cheap paneling can make a home feel dated and gives the impression that it’s hiding bigger problems. Taxidermy While your mounted moose head might be a conversation starter, it’s not everyone’s cup of tea. Animal heads on display can turn off potential buyers, especially those who aren’t fans of hunting. The goal is to create a space where buyers can envision themselves living—not being stared down by a deer. Linoleum Flooring Linoleum has a reputation for being cheap and easy to clean, but it’s also associated with budget apartments and lackluster design. Upgrade to hardwood or tile for a more modern, durable, and appealing look. Popcorn Ceilings Popcorn ceilings scream “I haven’t been updated since the ‘80s!” They were once a popular way to hide imperfections, but today they just look outdated. Plus, removing them is a messy job, especially if they contain asbestos. Smooth it out or replace it with something more sophisticated. Glass Mosaic Backsplash Once upon a time, glass mosaic backsplashes were the height of kitchen fashion. But now they’re everywhere, and that ubiquity has made them less special. Replace them with something

timeless like marble or subway tile for a fresh, clean look.

Bold Paint Colours Bold paint colours might express your personality, but they can be a turnoff for buyers. Bright or dark hues can dominate a room, making it hard for buyers to imagine their own decor. Stick with neutral colours that create a blank canvas. Converted Spaces Turning a garage into a home gym or a bedroom into a walk-in closet might suit your needs, but it could limit your home’s appeal. Most buyers want spaces to serve their intended purpose. If you’ve repurposed rooms, consider returning them to their original function before selling. Carpeting Hardwood floors are almost universally preferred by home buyers. Carpeting, even new, can feel like it’s hiding dirt, dander, and stains from previous owners. If possible, replace carpeting with hardwood, which offers a cleaner, more versatile foundation for any decor. Too Much Landscape An elaborate garden might be your pride and joy, but not everyone wants to spend their weekends pruning hedges and mowing the lawn. Simple, low-maintenance landscaping is often more appealing to buyers who are wary of high upkeep. Hot Tubs and Pools Pools and hot tubs might seem like luxury features, but they often bring more headaches than joy. They require constant maintenance, pose safety risks, and can turn off buyers who see them as liabilities. Consider removing these features, especially if they’re above ground or in poor condition.

Whirlpool Bathtubs

Once the epitome of bathroom luxury, whirlpool tubs are now seen as water-guzzling space hogs. Most buyers prefer a spacious shower or a dual-vanity counter over a tub that takes up half the bathroom. Minimalist Design While minimalist design has its fans, an overly sparse home can feel cold and uninviting. It’s important to strike a balance—add some warmth and personality without cluttering the space, to make it feel like a welcoming home.

Improvements That Add Value and Help in the Sale

Neutral Colours Neutral colours are your best friend when selling a home. They appeal to the widest range of buyers and allow them to envision their own style in the space. Whether it’s beige, cream, or a soft 18

gray, neutral tones create a calm, inviting atmosphere.

Craftsmanship Quality craftsmanship never goes out of style. Whether it’s custom woodwork, a beautifully designed fireplace, or artisanal fixtures, authentic, well-made features can set your home apart and attract discerning buyers. Bold Front Door A brightly coloured front door can be an eye-catching feature that enhances curb appeal. A red door against a neutral exterior can make a strong first impression and draw buyers inside. Embracing Textures Neutral doesn’t have to mean boring. Mixing textures—like wood, brick, and soft furnishings—can add depth and interest to a room. It’s all about creating a visually appealing space that feels cozy yet sophisticated. Shape and Space Considerations Furniture placement and the use of space can make a big difference in how a room feels. Avoid bulky furniture that overwhelms a room; instead, choose pieces that enhance the space and create an open, inviting layout. Open Layout An open floor plan is a major selling point for many buyers. If you have adjoining rooms with similar purposes, consider knocking down walls to create a more spacious, multifunctional area. Universal Designs With an aging population, features that accommodate older homeowners can add significant value. Wide doorways, roll-in showers, and wheelchair-accessible entrances make a home more appealing to buyers looking for a place to age in place.

Make It Green Eco-friendly features are increasingly popular. From energy- efficient appliances to sustainable materials, making your home greener not only saves money but also appeals to buyers who care about the environment. Smarter Homes Smart home technology is no longer a novelty; it’s becoming a must-have. Whether it’s automated lighting, security systems, or smart thermostats, these features can make your home more appealing and modern. Hardwood Flooring Hardwood floors are timeless, durable, and versatile. They appeal to a wide range of buyers and can be stained to match any decor, making them a smart investment. Stainless Steel Kitchens Stainless steel appliances are sleek, modern, and easy to clean. They blend well with different colour schemes and offer a professional, high-end look that buyers love. Don’t Forget the Ceiling Ceilings are often overlooked, but they can make a big impact. Replace outdated popcorn ceilings with planks or coffered designs for a more elegant and finished look. Crown Molding Crown molding adds instant elegance to any room. Whether it’s framing a fireplace or accenting a ceiling, these small touches can make your home feel more refined and attractive to buyers.

CHAPTER 5 Don't Overdo it:

When planning a remodel, it’s easy to get carried away with visions of turning your home into the crown jewel of the neighbourhood. But before you dive headfirst into a full-scale renovation, it’s important to keep one thing in mind: context is everything. How much you should upgrade depends on what you’re aiming to achieve, especially if you plan on selling your home in the near future. Know Your Limits It might seem logical to upgrade as much as your budget allows, turning your humble abode into an HGTV-ready masterpiece. However, while you may take pride in transforming your ranch into a showstopper, this strategy can backfire when it comes time to sell. Take a look down your street. How do the homes and yards in your neighbourhood measure up? Are they well-maintained, or do they have a bit of a “lived-in” look? Have you noticed interiors that are stylish and contemporary, or do they reflect design trends that belong in a museum? Whatever the case, these should serve as your guide. The reason is simple: buyers looking at homes in a $100,000 neighbourhood aren’t likely to pay $200,000 for your house, no matter how spectacular it is. Conversely, buyers with a $200,000 budget aren’t searching in a $100,000 neighbourhood—they’re looking for homes that match their expectations.

The Perils of Over-Improvement If you splurge on a spa-like master bathroom or a state-of-the-

art home theater in a neighbourhood where these features are out of place, you may find your home sitting on the market for months. Eventually, you’ll have to drop the price to something more in line with the area, negating much of the money you invested. To avoid this pitfall, consider enlisting the help of a real estate agent. An experienced agent will know the standards for your area and can advise you on which renovations are worth pursuing for a solid ROI. They’ll also be up to date on current trends and can suggest cost-effective ways to refresh your home, including reputable contractors who can get the job done right. For example, while you might be dreaming of granite countertops and brand-new kitchen cabinets, your agent might suggest a more budget-friendly approach: laminate countertops and a fresh coat of paint on the cabinets. This approach could save you thousands of dollars and still make your kitchen look fresh and inviting. Think Beyond Your Neighbourhood It’s also important to compare your home with others in the larger area, not just your street. Your competition isn’t limited to what you can see from your front porch—it extends to similar homes across town. Unless your neighbourhood has a unique appeal, like proximity to parks, beaches, or a bustling downtown, buyers may not choose your home over one in another part of town without a compelling reason. When it comes to curb appeal, you want to strike a balance. While a beautifully landscaped yard can catch a buyer’s eye, going overboard can make your home stand out for the wrong reasons. If your yard starts looking more like a wedding venue than a family home, you’ve probably gone too far.

On the flip side, some simple landscaping can do wonders. A well-maintained lawn, a few attractive plants, and a clean exterior can make a big difference without breaking the bank.

Timing Is Everything Some experts argue that the longer you stay in a home after renovating, the more likely you are to recoup your costs, thanks to rising home values over time.

Others believe that recent renovations are more appealing to buyers, who may place a premium on new

features. Either way, remember that the condition of your improvements will change over time. A newly installed fence or bathroom will start to show signs of age after a few years, blending into the rest of the property. Keep It Simple Whether you’re updating the landscaping, replacing doorways, or remodeling a kitchen, avoid chasing the latest design fads. Stick with contemporary, but don’t go for the cutting edge—it could end up costing you more than it’s worth, and that oh-so- trendy look might feel outdated in just a few years. In short, when remodeling with resale in mind, less is often more. Small, straightforward projects like replacing exterior

doors, re-staining the deck, or applying a fresh coat of paint are more likely to yield a good ROI than extensive renovations. Make sure the basics are covered first: fix any leaks, update appliances as needed, and ensure all doors and windows function properly. If you do opt for a larger project, choose one with a proven ROI, like a modest kitchen remodel. And always be careful not to overextend your budget—you don’t want to price yourself out of the market and make it harder to sell.

CHAPTER 6 Outdoor Improvements

When it comes to selling your home, curb appeal isn’t just important—it’s essential. Your front yard is the first thing buyers see, and first impressions are everything. If your front yard is in tip-top shape, you’re already ahead of the game in making a positive impact. Improving Your Front Yard Landscaping is the icing on the cake when it comes to curb appeal. It’s the first thing a buyer notices, and a well-planned landscape can be the difference between a home that sells quickly and one that lingers on the market. Still skeptical about the power of landscaping? Consider this: • 90% of real estate agents recommend sprucing up the landscape before listing a home. • A well-maintained landscape can increase your property’s value by 12% on average and boost your resale value by up to 14%. • A beautiful yard can shave as much as six weeks off your time on the market. • Spending 5% of your home’s value on landscaping could yield an ROI of 150% or more. But before you rush out to buy a truckload of mulch, take a moment to plan. A little forethought can turn your front yard into a showstopper. Your Landscaping Plan Start by making a list of what you’d like to add or enhance in your front yard. Do you have a stone patio leading to your front 26

door? Consider adding a flower bed around the edges, filled with vibrant blooms to create a welcoming atmosphere. If you’ve got a stately tree in the yard, why not place a charming birdbath beneath it? Creating a plan will help you stick to a budget and ensure that every dollar spent enhances your home’s appeal. For those looking to go the extra mile, consulting with a landscape architect could be a wise investment. They’ll help you refine your vision, taking into account your budget and what will work best in your yard. Planting Trees If you’re thinking about planting trees, do your homework or talk to a landscape architect. You don’t want to plant a tree that will take decades to mature, like an oak, when you could choose something like a red maple that will flourish in just a few years. You can even check the “value” of your existing trees with the National Tree Benefit Calculator (http://treebenefits.com/ calculator). This handy tool estimates the environmental and economic benefits of trees based on location, species, and size, giving you a clearer picture of how much value your trees add to your property. Let It Fill In and Learn to Care for It One important tip from real estate pros: don’t wait until the last minute to tackle serious landscaping projects. Planting trees and flowers should be done at least six months before listing your home to give everything time to grow in and look its best. Once your new landscaping has had time to mature, it becomes a valuable asset to your home’s overall appeal. Of course, you’ll need to keep up with maintenance—unless you plan on hiring a professional gardener. If you’re doing it yourself, the internet is your friend. There are countless gardening websites and blogs that offer tips on how to care for your plants, flowers, and trees to ensure your yard stays in prime condition.

The Importance of Outdoor Lights While most buyers will be visiting during the day, outdoor lighting is still a crucial feature. Not only does it add to the overall aesthetic of your home, but it also provides convenience and security—two things buyers love. Good lighting can prevent trips and falls, highlight key landscape features, and deter would-be intruders. So, adding some tasteful outdoor lighting is definitely worth your time and money. Improving the Exterior of Your Home The exterior of your house is just as important as the interior—maybe even more so, since it’s the first thing buyers see. Sprucing up your home’s exterior doesn’t have to break the bank or drive you to the brink of madness. Remember, curb appeal is vital to selling your home, so make sure you’re making the right improvements before you list. Approximate ROIs Here’s a list of home improvement projects that can boost your home’s value or improve its marketability, along with their approximate ROI: • Add or upgrade a patio or deck: 70% • Replace your garage door: 98%

• Major kitchen renovations or upgrade: 68.9% • Minor kitchen renovations or upgrade: 75.4% • Add an attic space or bedroom: 53% • Replace your siding with vinyl: 83% • Replace your siding with fiber-cement mix: 79.3%

• Upgrade your bathroom: 62% • Remodel your basement: 63% • Add another story within your home: 72% These exterior improvements not only enhance curb appeal but can also significantly increase your home’s overall value.

Don’t Overlook Your Roof The roof is the literal capstone of your home, and it’s easy to take for granted—until there’s a problem. Don’t overlook it when preparing your home for sale! Deciding Whether Your Roof Needs to Be Fixed To figure out if your roof needs attention, start by assessing the current market and your home’s condition. It’s a good idea to have a professional inspection to identify any potential issues that could scare off buyers. If your roof does need repairs, get estimates from at least three different providers before making a decision. If you can afford the repairs, go ahead and get them done. If not, be prepared to disclose the roof’s condition to buyers and adjust the price accordingly. Homes with well-maintained roofs are more likely to sell quickly and for a better price. For added peace of mind, consider having a roofing specialist certify your roof for an additional four to five years. This certification can reassure buyers that they won’t have to worry about the roof for a while. Replacing the Old Windows Old, drafty windows are a red flag for buyers. Replacing them with new, energy-efficient windows not only improves your home’s aesthetic but also enhances safety and security. While replacing all your windows can be costly, it’s a worthwhile investment when selling your home. New windows can make your home stand out on the market and offer an approximate ROI of 70%. Beautifying Your Backyard The backyard is often overlooked, but it’s a crucial part of your home, especially for buyers with families. This is where they’ll

imagine playing with their kids, hosting barbecues, and relaxing on weekends. Creating an inviting backyard can significantly boost your home’s value and help it sell faster. More Trees Trees are like fine wine—they get better with age. If you’re planting trees before selling, do it as soon as possible. Opt for trees that are about 8 feet tall and 1 to 2 inches in diameter, which will mature beautifully in three to five years. Smaller Lawn Surprisingly, a smaller lawn is the trend these days. Deep planting beds with wide borders and strategically placed shrubs can make a backyard feel cozy and inviting without requiring too much upkeep. Adding vibrant, colourful flowers can brighten up the space and help buyers picture themselves enjoying the backyard for years to come. Adding a Sanctuary Incorporating water features like a small pond, fountain, or hot tub can create a backyard oasis that buyers will love. A sanctuary-like space can make your home stand out and add to its appeal. The Resale Value of a Swimming Pool Installing a swimming pool might seem like a good idea, but the

ROI is generally between 15% and 25%—not exactly a gold mine. Pools also come with ongoing maintenance costs, so think carefully before diving into this investment.

Renovating Your Swimming Pool If you already have a pool, make sure it’s in top condition before showing your home. Check for worn liners, outdated plumbing, and any mechanical issues that need to be addressed. A well- maintained pool can add value to your home, while a neglected one can be a deal-breaker. Consult with your real estate agent to determine if pool renovations are necessary and find qualified professionals to do the work. An updated, attractive pool can be a selling point, but it has to be in great shape to make a positive impact.

CHAPTER 7 Flooring, Walls, and Lighting

So far, we’ve covered the ups and downs of remodeling, and who you can rely on to help make smart decisions about where to direct your time, money, and energy. Now, let’s dive deeper into specific projects you might undertake to boost your home’s value or make it more marketable. We’ll explore the materials you should consider using to ensure you’re getting the biggest bang for your buck. Flooring Floors have become the unsung heroes of home décor. Whether it’s hardwood or carpet, the flooring you choose can make or break a room’s appeal. It’s no secret that hardwood floors are the darling of the real estate world. Their popularity has been on the rise since the early 1980s, and by the 1990s, they had claimed the top spot as the preferred surface in homes across the nation. Today, the demand for hardwood shows no signs of slowing down. Realtors® will tell you that hardwood is often a must-have for buyers, with some even filtering out homes that don’t have it. A recent (though unscientific) survey on a Realtor’s® website found that 95% of respondents preferred hardwood for common areas like the living room, dining room, and family room. If you’ve got hardwood lurking beneath that old carpet, it’s time to let it shine. Rip up the carpet, refinish the hardwood, and watch the value of your home rise like a soufflé. Even if you can’t afford to do every room, start with one—it’s a surefire way to impress buyers and help your home sell faster.

Refinishing hardwood floors is usually a solid investment with a strong ROI. It’s a small price to pay for the potential payoff when it’s time to sell. While few flooring options can rival hardwood in popularity, ceramic tile is another upscale choice. But when weighing budget, comfort, and ease of installation, hardwood often comes out on top. Carpet Ah, carpet—the nostalgic flooring choice many of us grew up with. Once the king of the flooring world, carpeting started losing its crown in recent years, and while it’s no longer the top dog, it still has its merits. Carpet is great for absorbing sound, making it a smart choice if you have young children or pets. And speaking of kids, they tend to take a tumble now and then, and carpet offers a softer landing. It’s also warmer underfoot and more comfortable to walk on barefoot—definite perks in colder climates. Plus, it’s budget-friendly, costing between $2 and $15 per square foot, according to the World Floor Covering Association (WFCA). But let’s not overlook the drawbacks. Keeping carpet clean is a challenge. Every crumb, speck of dirt, and pet accident can get ground into the fibers, making it hard to clean. Pet stains can leave behind stubborn odors, and in recent years, carpets have also been criticized for trapping allergens, which can exacerbate asthma and allergies. Not to mention, carpets can harbor mold if they get wet and aren’t dried quickly. Frequent steam cleaning can help mitigate these issues, but it also eats into the cost savings that make carpet appealing in the first place. Linoleum Linoleum is another hard-wearing option that’s fallen out of

favor in recent years, overshadowed by tile and hardwood. But don’t write it off just yet—it’s affordable ($2–$9 per square foot), the color runs all the way through (so scratches aren’t as noticeable), and it’s easy to clean and patch. Linoleum is also a dream for design enthusiasts, as it’s easy to cut into unique shapes and patterns, making it a great choice for eye-catching kitchen or bathroom floors. However, that design flexibility can also be a trap—trendy linoleum patterns can quickly date your home. It also needs regular polishing to stay looking its best and can stain if spills aren’t cleaned up promptly. Ceramic Tile Ceramic tile is one of the most durable flooring options around. It can handle almost anything you drop on it, and scratches can be easily buffed out. It’s also highly stain-resistant and reasonably priced at $2–$9 per square foot. From a design perspective, tile offers nearly endless possibilities, allowing you to create a custom look that suits your style. But as with linoleum, beware of trends that could date your home. Ceramic tile’s durability can also be a double-edged sword—anything dropped on it is likely to break. And if a tile chips, repairs can be tricky to do well on your own. Tile can be hard on your feet, too, making you long for the softer embrace of carpet. Dirt also has a way of settling into the grout lines, making it harder to keep clean. Vinyl Vinyl is a common choice for kitchens and bathrooms, especially in middle-class neighborhoods. It’s easy to clean (if you catch spills quickly) and is the most budget-friendly option at $1–$7 per square foot. If comfort is a priority, vinyl is the softest option outside of carpet.

But affordability comes at a cost—vinyl is easily scratched, and repairs often require replacing entire sections of the floor. If laid in tile form, it’s also vulnerable to water damage as liquids seep into the seams. Hardwood As mentioned earlier, hardwood is the gold standard of flooring. It’s durable, easy to clean, and can be refinished every few years, making it look brand new at a fraction of the cost of replacing other types of flooring. That said, hardwood has its drawbacks. It can be cold underfoot and doesn’t retain heat as well as carpet or vinyl. Refinishing hardwood is also time-consuming and can be costly, ranging from $6 to $15 per square foot. But if you can swing it, hardwood is worth every penny. Buyers are actively seeking it out and are even willing to pay more for homes that have it. And who knows, you might just have a hidden treasure under that old shag carpet—an oak goldmine waiting to be uncovered and refinished. If you’re on a budget and can’t afford solid hardwood, consider engineered wood or laminate flooring. These options offer many of the benefits of hardwood at a lower cost. Walls Remember when white walls were all the rage? Or when bold, dark colors were the height of style in the 1990s? And who could forget the wallpaper with tiny prints that looked like they belonged in a Magic Eye book? Times and tastes change, and if you’re planning to sell your home soon, updating your walls is one of the easiest and most cost-effective ways to boost your home’s appeal. But keep in mind that today’s buyers may have different preferences than you did when you first bought your home.

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