The kitchen is the heart of the home, so investing in a few affordable upgrades here can not only add to your enjoyment, but potentially improve your home’s resale value.
As a general rule, the more visible an improvement, the better your chances for a good return at resale. For example, a new water heater won’t have the visual impact of a new sink and faucet. A fresh coat of paint is one of the least expensive ways to refresh your kitchen’s look, so why stop at just the walls? Repainted cabinets or tile paint on your backsplash are a great refresh that can deliver one of the best returns on your investment. Don’t forget the finishing touch of replacing your handles with updated hardware.
Lighting is also an affordable way to improve the look and function of your kitchen space. Under counter lighting can illuminate your workspace and add ambiance to your kitchen, while pendant lighting can add a modern flair.
Not sure what’s worth doing? Gary & Debbie, your Coldwell Banker professional, can advise you on how changes may impact the future resale value of your home.
Canada’s real estate market will experience growth both this year and next, according to the latest industry forecast. On June 14, The Canadian Real Estate Association (CREA) upwardly revised its national forecasts for 2019 and 2020. CREA predicts national MLS® home sales will rise by 1.2% this year, to reach 463,000 units. Sales are expected to improve by a further 4.4% next year, with 483,200 homes expected to be sold in 2020.
Prices are also expected to edge up next year, with the national average approaching $490,000. For a closer look at sales and prices in your area, contact Gary & Debbie, your local Coldwell Banker professional.
Buying a home can be a great long-term investment, but sometimes homeowners find they need to move again within a short time. That’s why it’s so important to consider a property’s potential resale value when you buy.
Your local Coldwell Banker professional can share valuable information about the average price of homes in your market, historical appreciation of one area versus another and planned developments that may affect property values in the future. They can also advise you on what features may increase – or potentially reduce – a home’s value and appeal. This includes features already in the home or future improvements you may be planning. So when it’s time to buy, remember to talk about resale with Gary & Debbie, your Coldwell Banker professional.