One of the most common complaints from my clients is the lack of
inventory for homes in our area. One possible solution for those who can't find
exactly what they are looking for in a home, is to use the purchase plus
improvements program.
Genworth has put together a list of which
improvements will result in the highest value increase. Here is are their
suggestions:
CREATING AN IN-LAW SUITE Adding an extra suite could
take a big bite out of home ownership expenses. You can share your home with a
parent or with another co-buyer while maintaining privacy for each household.
Convenience. Value. A suite adds both!
RENOVATING THE KITCHEN The kitchen is the heart of the home, and the
most important room relating to valuation. Fresh cabinetry (if it’s in good
condition, consider re-facing rather than replacing) and efficient lighting
will improve daily life and property value.
RENEWING THE BATHROOM Another important room in terms of
valuation, the bath is everyone’s favourite retreat. Spa features like a
rainfall showerhead, dimmable lights, and gleaming tile are affordable
luxuries. In a home with just one full bath, adding a half bath increases value
dramatically.
GIVING FLOORING A FACE LIFT Hardwood never goes out of
style. Replace cheaplooking vinyl or laminate with the real deal. If you’re
lucky, hardwood may be hiding under your existing flooring; have it refinished
for a better than-new look. For baths, tile is the best choice in luxe stone or
budget friendly ceramic.
RENOVATING THE KITCHEN The kitchen is the heart of the home, and the most important room relating to valuation. Fresh cabinetry (if it’s in good condition, consider re-facing rather than replacing) and efficient lighting will improve daily life and property value.
RENEWING THE BATHROOM Another important room in terms of valuation, the bath is everyone’s favourite retreat. Spa features like a rainfall showerhead, dimmable lights, and gleaming tile are affordable luxuries. In a home with just one full bath, adding a half bath increases value dramatically.
GIVING FLOORING A FACE LIFT Hardwood never goes out of style. Replace cheaplooking vinyl or laminate with the real deal. If you’re lucky, hardwood may be hiding under your existing flooring; have it refinished for a better than-new look. For baths, tile is the best choice in luxe stone or budget friendly ceramic.
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