Renovate Now, Redeem Later
People talk about renovations all the time but many never fully go through with it. Whether it is your starter home or the place where you’ve watched your children grow up, renovating now can be a smart decision in the long run. In today’s busy housing market, it is difficult to buy new homes at an affordable price, which is why renovations are a lucrative alternative to improving your living space and what you should allocate your money towards.
What may seem like a costly endeavour is much more possible then you may be led to believe. Home equity loans and home equity line of credits are there to help alleviate many of those concerns and pressures. For those who don’t know, a home equity loan is a lump-sum loan, essentially giving you the entire sum of funds you need at once, being repaid with a flat monthly payment. Whereas a home equity line of credit (HELOC) allows you to pull funds out as needed. Similar to a credit card, you borrow what you need when you need.
Home equity and renovations go hand in hand. It only makes sense to use your home’s value to borrow money against it to put money right back into the value of your home. Home renovations also lead to an increase in the value of you house, creating more equity.
Here are some of the best renovation projects that will boost the value of your GTA home.
The kitchen may be the most obvious room in a house in need of a renovation and one that can greatly increase a homes value. But the longer we live in a place the more we are blind to the imperfections that we see each day such as mismatched appliances, chipped tiles, and peeling paint. Although small now, to a homebuyer, these are huge problems. A fully functioning kitchen that is both modern in style and functionality will increase the value of your home.
When you think renovations you always think what you want the inside of your house to look like. Don’t forget about the outside too. Preserving the curb appeal of your home can greatly increase your house’s value. Especially the homes exterior and stone veneer can be a stylish and effective method of renovating the outer areas of your home.
Another aspect of the home that can be a huge eye sore if not properly kept maintained is the garage. A garage has so much potential and can greatly affect the price of your home. Long gone are the days of bright red garage doors and we are now in an era where accessibility and space is important. So a renovated garage with optimized organization and space can greatly increase your homes value.
Over time insulation will become less effective and one of the most commonly overlooked places is the attic. Having your home properly insulated will help increase the value of your home and will also help save on heating and cooling. The attic is also a room that once finished has the potential to create more liveable space for those looking to grow. Turn it into your home office, a playroom or even a guest bedroom, whatever your specific needs are we can customize to create the perfect addition.
First impressions are so important. The front door is your house’s first impression to buyers. Installing a new door, or even ensuring insulation can increase the value of your home. A stunning wood or steel door may seem like a small renovation but can do wonders for your home.
Now is the time to renovate. Contact Georgian to find out how we can make your dream home a reality!