Are you on the fence about taking on a renovation before you sell your home? If so, that’s certainly understandable. It can be costly and turn your home into a construction zone for a couple of weeks. However, these temporary inconveniences will lead to an increase in your home’s value. The following reasons to renovate may give you just the motivation you need to get started.
Create More Space
Whether you have a growing family, frequent guests or plan to move the parents in, more space means more comfort for everyone. There are several ways to increase space in your home. You can work with your current floor plan and maximize space by knocking down a few walls, rearranging furniture and getting rid of anything you don’t need. You can build an additional room onto your home to serve as any functional space of your choice. If you have a basement, you can work on transforming it into an apartment-style space for growing kids or guests. CAA-Quebec cautions to just make sure to account for any safety hazards basements can pose.
Remove Hazardous Materials
Renovating your home is a great opportunity to get hazardous materials removed and replaced with safer, modern materials. Older homes often have lead paint and pipes, faulty wiring or the notorious asbestos. Abels & Annes explains that asbestos is a combination of naturally occurring silicate minerals, which became popular in manufacturing and construction in the late 19th century because of its strength, heat-resistance, and affordability. Unfortunately, it has been linked to a variety of health risks, the worst being mesothelioma and lung cancer. While removing asbestos, installing new pipes, rewiring and similar measures may sound like a huge financial endeavor, ensuring your family’s safety is priceless.
Increase Resale Value
While the previous two benefits alone will improve the resale value of your home, a carefully planned renovation can add significant value to a property. Jessica Dauray suggests that it is a good idea to research home trends that can stand the test of time so that your home will appeal to buyers in ten or even twenty years. It also wouldn’t hurt to view a real estate site and see which commonalities exist among homes in your neighborhood as these particular aspects may attract buyers.
With a flexible budget available, there are very few downsides to renovating your home. Beyond buyer appeal and resale profits, the value in safety, health, and quality of life cannot be quantified.
If you’re ready to sell your home, contact us and we can help you with the process!