What renovations do buyers want the most?
So, you’re getting ready to sell your home in Ottawa. You have some extra funding put away to prepare your home for sale - and this means choosing which renovations are going to bring the most value to your home.
There are a TON of things you can do - from updating your paint to knocking down entire walls.
We’ve compiled a list of some of the top desirable renovations for buyers in 2022. After a recent study conducted by Remodelling Magazine, we’ve sorted the renovations buyers said they want the most in 2022 into categories based on small and large projects.
Expensive/Time Consuming
New Siding
New Windows
Deck addition
Bathroom remodels
Especially a primary bathroom
New wood flooring - especially hardwood.
Mid Range
Backyard landscaping
Refinish current hardwood floors
Small Changes
Repaint cabinets
Repaint trim
Takedown wallpaper
Paint over walls in a neutral colour
Update light fixtures and doorknobs
Front yard landscaping, gardening, cleaning, painting
Let’s break this list down, what is valuable about these additions?
Updating the siding and windows in your home will add a ton of value - both in its curb appeal and in its energy efficiency, something that potential buyers are much more interested in. Curb appeal, especially in the backyard, has also become more important in the past few years as people are spending more time at home.
Adding a deck is another way to improve the indoor/outdoor flow of your home. Because so many people have moved to virtual work full or part-time, people are home more often, and in the summer months, are looking for a way to expand their living space, entertain friends and family, and enjoy their property to its full potential. If you currently have a deck, take a look at how you can improve it - does it need paint or stain? Perhaps a new railing? Could you add value to it somehow?
Bathroom remodels are a big deal in recent years. If your home wasn’t built in the last 20 years or hasn’t had a recent update, you are up against some steep competition from new modern builds. Some small changes can be made like paint colour or touch-ups, or larger additions like new tiling, a new vanity, or a soaker tub. Typically, a modern and neutral bathroom will be an easier sell.
Hardwood is another major selling feature in recent years. Full carpets, or even carpeted bedrooms, are on their way out in terms of trends. If you currently have hardwood floors in your home, getting them refinished close to the time that you intend to list will help - but if you do it too soon, they may get scratched again before it is time for showings. If you currently have carpet, and have the budget to update your flooring, adding hardwood to your home can increase its value substantially, and increase its appeal to buyers through its overall look and feel.
Landscaping the backyard is another mid-range update that can really increase your potential to sell. If you plan to sell and list in the winter, you may be able to get away with skipping this step. But if you are thinking ahead about selling your home, ensure to get pictures of your backyard while it is uncovered. We keep returning to this because it is crucial; buyer trends are leading towards spending more time at home and wanting to have a ‘personal oasis’ right in their backyard. That means your outdoor space is becoming more important to buyers - and you want to impress them!
If these kinds of updates aren’t in your budget - that’s absolutely okay. There are a ton of small updates you can make to your home to increase its value and selling price. First and foremost, take a walk around and see what needs to be fixed up - are there marks on the wall, or flakes in the paint on your cabinets? These small updates can make a huge difference in how buyers perceive your entire home - even though they shouldn’t! One or two small issues can really change their perspective. Other things like wallpaper can be a deterrent for some buyers, so if possible, changing to neutral paint colour on the walls can increase the value and perception of your home. Updating light fixtures and doorknobs, or at least cleaning them and ensuring they work properly, can increase the perception of the value of your home to potential buyers as well. This can be free or fairly inexpensive, depending on how much you are willing to invest in terms of time or money!
A final thing to consider, which is highly recommended by buyers and their agents, is to increase the curb appeal of your home in any way possible. Tidying up your gardens, mowing the lawn, weeding, sweeping the porch, and other small renovations to the front of your home can really change how people feel about the home when they show up to view it, or even as they drive past it and see the for sale sign.
