One of the most important things of being a homeowner is keeping your home in good condition. By updating out of date fixtures and flooring when they are in need of an overhaul will save you a lot of time and money. We’ve all seen those homes on the market with old green countertops and floral wallpaper. Let’s face it; unless you are looking for a tear down or a total renovation, those listings are a nightmare! Although some upgrades can boost the value of your home by almost double of what you initially invested, some upgrades don’t actually add much or any value to your home at all.
Here are some common misconception:
1) Carpet over Smooth Flooring
Although some people may think that by installing higher quality carpet will boost the value of their home, the value will never be as high as installing hardwood or laminate flooring. Carpet is hard to clean and traps particles such as dust and pollen. Without effective vacuuming, these particles are trapped in its fibres. With over 2 million Canadians with asthma and even more with allergies, carpet rarely hits the ‘must have’ list for buyers.
2) Inconsistent upgrades
Upgrades are key in maintaining and increasing the value of your home. However, to get the most bang for your buck, it is essential to have consistent upgrades throughout your home. Swapping out your old kitchen countertops for new marble ones and putting new stainless steel appliances is definitely an upgrade. However, if your bathrooms still look like they belong in the 50’s, the value of your home won’t go up as much as compared to if you had your home consistent with the upgrades.
3) Crazy Landscaping
Appearance can be everything when purchasing a house. While great landscaping can help bring potential buyers through the door, it doesn’t necessarily add value to your home. Extravagant landscaping can turn people away who may not want to put in the effort to maintain it.
4) Swimming Pools
Swimming pools are great for Summer fun and entertaining guests. But what you don’t hear is the amount of expenses that goes into maintaining a pool. With Canada having only 3-4 swimming worthy months, many people prefer to a large yard with a deck over a pool. Moreover, young families may view it as a safety hazard for young kids.
Paul Hatsisavvas | Sales Representative
CENTURY 21 Leading Edge Realty Inc.
300- 801 York Mills Road
Toronto, ON M3B 1X7
Business Line: 416.686.1500
Direct Line: 416.989.9917| Fax: 416.386.0777
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