Are you thinking of selling your home, but want to get top dollar from the sale? Investing in a renovation can be a great way to get increased financial value from your current home.

In this week’s Camrose Canadian article, we caught up with Camrose REALTOR, Tracy Brandingen with REMAX to get a REALTORs perspective in where to focus your home improvement efforts to get your home ready for a sale.

Here’s what Tracy had to say.

Q: When people walk into a home, what is the first area they fall in love with? What areas do people not really pay attention to?

A: Some things are always constant.  That constant is the kitchen.  The heart of the home is still the place where we break bread, entertain, or relax with a glass of wine. We all love to have a beautiful kitchen.

Q: What are some of the common mistakes people make when making improvements to sell their home?

A: Renovating is such an exciting time and often we get a bit carried away.  A very important first step is to gauge your neighbourhood.  Make sure that if you need to sell down the road, that your neighbourhood will support the price of your home improvements.  If all the houses in your area are selling between $200k – $250k, your home isn’t now worth $400k after the renovations.  It can make it difficult to find a buyer.

Q: Is landscaping and fencing important to buyers?

A: Landscaping speaks to “curb appeal” and it is extremely important to buyers.  It is the very first impression someone has upon entering your property.  You should always set aside a portion of your budget for landscaping.  Fencing is really dependent on the buyer.  Typically, most people prefer a fence for privacy or for pets, but it isn’t at the top of most buyers’ lists.

Q: If a seller wanted the best return on improving their home, where would you recommend they invest their money? Where would you say it’s a waste of money?

A: The best return on your money is once again the kitchen.  That being said, something that is virtually free is cleaning and decluttering. It is still truly the best thing you can do for a home sale.  I can’t say these things would be a “waste” of money, but I would have to say they may give you the least amount of return on your money.  Typically, it’s the specialty items we purchase for our homes—the hot tubs, bars for entertaining our friends, projection TVs, etc. Buy them because you enjoy them.  Don’t buy them because you think they add value.

Q: When you’re taking your clients through various houses, what are they looking for when it comes to features of a home?

A: People still appreciate the open concept design in homes.  Being able to visit with friends and family while preparing a meal or even appetizers is still extremely important for buyers.  Especially young families who are constantly on the go.  Getting kids to do homework while you’re frantically trying to get dinner on the table so you can then zip out for their extracurricular events requires a constant eye and an open space.

Q: Is a finished basement a selling feature, or is it more attractive to have a blank canvas for your clients to work with?

A: It really is more attractive to have a finished basement for a buyer.  Most of us are so busy, the thought of having to deal with contractors in and out of your basement while you’re trying to juggle life is really unappealing for most of us.  When you are completing the basement, be cognizant that it relates to the upper floor and budget accordingly.  There should be a cohesive flow to your space.

Q: How important is street appeal when it comes to selling?

A: Street appeal is extremely important.  Many buyers have told their REALTOR to “keep driving” if the exterior of the home is unattractive or unkempt.  Is it fair? No, but it’s hard to not judge a book by its cover.  First impressions really do matter when it comes to your home and property.

Q: What characteristics have made a home most memorable to you?

A: Homes that are always most memorable to me, regardless of which price bracket they may fall into, are always the ones that are neat, tidy, and well appointed.  A negative for most buyers would be a poor floorplan with inefficient flow patterns.

Q: When is the best time to have your home on the market?

A: I really don’t think any time is a bad time to sell your home; all market times have unique challenges.  Summer is great because the yard can be showcased, but typically you have greater competition among buyers and vice versa for winter.  We always say, “you only need one good offer to sell your home.”

alair homes camrose kitchen renovation

A renovation can create amazing value and return on investment if you can enhance the functionality and look of your home. However, Tracy mentions the kitchen is the number one area people look at when choosing their home. So, let’s take a closer look at renovating your kitchen to increase value in your home.

Most people view the kitchen as being the heart of the home. It’s the place families gather after a busy day of school or work. For this reason, the kitchen is one of the best areas of your home to renovate, and will often give you the highest average return on investment.

Many homeowners start renovating by updating and changing the layout of their kitchen to better suit their individual needs and mesh with current styles. Let’s take a look at the most common areas for kitchen upgrades.

The cabinetry and countertops are two major areas of improvement that will drastically change the look and feel of your kitchen. However, renovating your kitchen doesn’t always mean you need to spend a lot of money. Although many homeowners choose to replace the cabinetry, another great option is refinishing the existing cabinets. This option is often more cost-effective and it can also look amazing.

Another feature that adds value to your kitchen is a new countertop. Simply upgrading your countertops from laminate to granite or quartz is a great option and can add style and individuality to your kitchen.

Always remember when considering the look, layout and style of your kitchen that it’s important to get professional advice for your specific project. There are many amazing ideas that you can find online, which is very important for your planning process. However, it’s also important to seek professional advice to ensure the kitchen has great flow and functionality.