If your goal is to invest in some home renovations that end up paying off when you sell your property in the market, you are not alone. Renovations are why there are so many successful house flippers in the industry. It also offers homebuyers a great chance to get into their dream home, situated in a good location and at a much lower price point. It is important to note that for some home sellers, investing in the right kind of renovations can help them get much higher offers and a quick sale. It comes as no surprise that many Canadians are currently investing their hard-earned money in home renovations and are hopeful that they’re going to get a return on their investments. Are you wondering what these renovations are? Let’s get into it.

Home Renovations That Pay Off

Kitchen

Including just new or updated cabinets, countertops, and appliances in the kitchen, can significantly increase your ROI. While for you, it might be significantly cheaper to renovate a kitchen yourself once you have taken possession of the property, most homebuyers don’t prefer to put themselves through this. Making a kitchen move-in ready is a significant factor that most home buyers consider when buying a particular property. When your property offers just that, they are more likely to buy it and offer more money for the property.

Bathroom

The similar logic that applies to kitchens applies to bathrooms as well. Most homebuyers don’t prefer moving into a property that has outdated bathrooms. It can be time-consuming and inconvenient, not to mention expensive, to renovate a bathroom in a home you intend to live in. However, properties with outdated bathrooms are sold significantly less than those with updated ones. If you wish to be a home flipper, it might be best to invest in a property with outdated bathrooms and then renovate them for the better. You can use this opportunity to sell this property for a lot more, make back the money you have spent on renovations, and make a profit.

Paint

You may not know this, but a fresh coat of paint is the simplest and cheapest renovation in investment that you can make and make great returns in the market when you resell the property.

Flooring

You may want to consider tearing up the old carpets in the property to reveal its original hardwood flooring underneath and give it some good loving to bring it to its former glory. Most homebuyers in the market prefer either hardwood or tile over wall-to-wall carpets that easily stain.

All of this would be much easier for you to do when you have access to a reliable real estate agent in the market to tell you just what you need to invest in to increase your home’s resale value.

Reach out to Christine Smith at Homes at Blue Mountain now to get started on your next real estate purchase.