Thinking of hiring the best photographer to capture high-quality photos of your house for sale in Hamilton? Or planning to list the property on at least 4 to 5 listing platforms to reach a wide number of buyers? All this is great and necessary to successfully sell your Hamilton property.
However, apart from this, you must also consider renovating and upgrading certain rooms or features of your home. Doing so will enhance your home’s appeal in the eyes of potential buyers, thereby justifying a higher asking price.
But, here is a key point to remember - “not all home improvement projects positively impact a property’s resale value.” There are some renovation projects like extensive landscaping (high-maintenance) or swimming pools (safety concerns for kids) that can actually diminish the worth of a home for sale in Hamilton.
So, how do you figure out the remodelling projects that can enhance your property’s worth and appeal? SIMPLE - follow this list of strategic home improvements that can instantly elevate your house’s resale value. We have prepared this list based on Remodeling Magazine’s Cost vs Value Report (2023).
Top Home Improvements That Give You the Best Returns
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HVAC Conversion or Electrification
This home improvement project entails replacing a traditional fossil fuel-powered heating and cooling system with an electric heat pump. The electric heat pump uses electricity (instead of environmentally harmful fossil fuel) to transfer heat from one location to another.
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Modern heat pumps are more efficient than the old HVAC systems. They lower the utility bills of homeowners significantly without compromising comfort.
Homebuyers have also become eco-conscious and look for energy-efficient appliances in houses for sale in Hamilton. Most buyers are even willing to stretch their budget for a green home.
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Average Cost of Project: $17,747
Resale Value of Property: $18,366
Costs Recovered: 103.5%
By investing in this project, a home seller can earn an extra 3.5% profit on the selling price.
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Replacing Garage Doors
The garage door of your home for sale in Hamilton is a big part of your home’s curb appeal. According to Garage Living, a home’s garage doors take up around one-third of the property’s front exterior.
So, in case your home’s garage doors are damaged or miscoloured, you need to replace them before getting your property on the market. While replacing the garage doors, try replacing the style of the door with your home’s architecture. Go for neutral colours for the garage door like black, white, or beige to appeal to a large number of homebuyers.
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A new garage door can instantly and significantly boost the appeal of your house for sale in Hamilton. This is because your garage door is one of the first things buyers will see when they walk into your property.
So, a well-chosen garage door that compliments the design and architectural style of the home can increase the property’s overall curb appeal. Also, if your new garage door comes with modern features like smart security systems, your property’s appeal will increase even further.
VALUE -
Average Cost of Project: $4,302
Resale Value of Property: $4,418
Costs Recovered: 102.7%
By investing in this project, a home seller can earn an extra 2.7% profit on the selling price.
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Manufactured Stone Veneer
Manufactured stone veneer AKA artificial or cultured stone is a building material made from a mix of natural particles and Portland cement. It looks like natural stone in terms of appearance and texture. However, as compared to natural stones, manufactured stone veneer is light in weight and more cost-effective.
While choosing the manufactured stone veneer for your home, consider the design and style of your home for sale in Hamilton. You must also consult a designer or contractor to know about the prevailing trends in your area.
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Manufactured stone veneer has been a popular choice for home exteriors for several years. Even today, this home design feature holds strong appeal among home buyers.
Buyers and homeowners absolutely love the natural beauty and timeless elegance of stone. Stone veneer also makes a house for sale in Hamilton look more sophisticated as compared to other siding materials like vinyl.
Today’s manufactured stone veneer comes in a range of styles, colours, and textures. So, you can easily find the perfect stone veneer material in the market that matches your home’s style and enhances its overall curb appeal.
VALUE -
Average Cost of Project: $10,925
Resale Value of Property: $11,177
Costs Recovered: 102.3%
By investing in this project, a home seller can earn a slight profit of 2.3% on the selling price.
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Entry Door Replacement
Have you forgotten when you last replaced the front door of your home? Are there cracks and rots in your entry door? Do you face difficulty while opening and closing your front door?
If you have answered “YES” to any of these questions, it means you need to replace the front door of the home you are planning to put out for sale in Hamilton. Switch your old door with a new steel door that has transparent dual-panel, half-glass with jambs, and aluminium thresholds with composite stop. If possible, go for doors that have an Energy Star certification.
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Steel doors offer many benefits that can appeal to the potential buyers of your property. First, steel doors are stronger and more resistant to harmful elements as compared to wood or fibreglass doors. Secondly, new steel doors come with high-quality looks and are sturdily built, offering better security to homeowners.
Steel doors also have a modern and sleek look, adding a touch of sophistication to the house for sale in Hamilton. All these appealing benefits of steel doors significantly amp up the appeal of your property in the eyes of homebuyers.
VALUE -
Average Cost of Project: $2,214
Resale Value of Property: $2,235
Costs Recovered: 100.9%
By investing in this project, a home seller can earn a slight profit of 0.9% on the selling price.
Read more:
- From Pavement to Paragraphs: The Story of Hamilton
- Experience the Best of Mississauga: Your Ultimate Weekend Itinerary!
Make the Right Home Improvements for the Highest Profit
If you plan on living in your current home for five or more years, you can make any upgrades you feel like. However, if you plan on putting your home out for sale in Hamilton soon, you need to invest in those home improvements that appeal to buyers and bring you the highest ROI.
The home improvement projects mentioned above can significantly boost the curb appeal of your property and value. So, find the ones that your home needs the most, and start planning for the home renovation project. Best wishes!