Capital Mortgages opened in January 1999 and has since serviced thousands of clients and arranged several billion dollars in mortgages in Ottawa area.

Home Renovations That Can Increase Your Property’s Value

Thinking of selling your home? Lucky for you, Ottawa is currently experiencing a resounding seller’s market, with the average price of homes sitting at a historical all-time high. To generate even more income from the sale of your property, why not consider some of the following renovations to increase its total value?

Finish your basement

This is a great way to add more heated square footage to your home and increase your home’s value by about $50,000 on average.

Open up your floor plan to create space

Today’s buyers prefer open concept living spaces that combine the kitchen, living room and dining room. Invest in knocking out the walls between these spaces to create a wide-open, inviting room that will attract potential buyers.

Increase closet space

Living in Canada with four seasons, extra closet space for seasonal wardrobes is always welcome! 

Modernize kitchens and bathrooms

You don’t necessarily have to completely overhaul your home’s kitchen and bathrooms, but a minor remodel that will modernize them by incorporating new cabinet fronts or hardware will instantly boost your home’s value.

Improve your home’s curb appeal

A new front door, clean landscaping and nice outdoor lighting fixtures are just some of the ways that you can wow potential buyers when they first see your home. These are quick, easy improvements that greatly boost your home’s physical appearance upon first glance.

Replace carpets with hardwood floors

Carpeted floors are a thing of the past! Modern buyers are interested in hardwood floors throughout the house and will add in their own accent rugs to warm up a space.

Redo the roof

If your home is due for a new roof, replacing yours can recover 107% of its cost at the time of resale and will set your property apart from similar homes for sale in the neighbourhood.

Install a smart thermostat

These types of thermostats can adjust your home’s energy consumption and lower your utilities costs. They’re currently ranked as one of the three most-wanted home technologies by prospective buyers.

 

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Capital Mortgages Inc is an independent brokerage in the Mortgage Centre Canada Network and one of Ontario’s leading real estate mortgage brokerages with offices in Ottawa and the valley.

6 Home Renovations to Boost Property Value

Whether they have just moved into a new property and it requires some TLC or you they are looking to make some updates to their current family home, the majority of homeowners will usually undertake some kind of renovation on their property while they live there. But did you know that there are some renovations that will not add value to your home? To help you avoid losing money on renovations that won’t give you a sufficient return on your investment, we’ve gathered together the top six home renovations that are guaranteed to boost the value of your property:

 

1) Manufactured stone veneer

Increase your home’s curb appeal, and reel in potential buyers, by updating your unsightly old vinyl or siding with manufactured stone veneer. This attractive update will give a huge facelift to your home and is almost guaranteed to recoup costs when selling.

 

2) Garage door

Consider replacing your current garage door with a modern-looking one with galvanized steel tracks. This update offers another boost to your home’s curb appeal while also providing a practical investment.

 

3) Deck

A well-made and good looking deck is certainly a worthwhile investment to your home. Often, a nicely installed deck will make you back the dollars spent on it. If you have a small yard, a deck will make especially good use of your outdoor space.

 

4) Front door

Potential buyers often make up their minds within the first 30 seconds of visiting a house. Make sure your home packs a punch with an attractive front door. Other things to consider are a nice-sounding working doorbell and a covered entryway or awning. Nobody likes the thought of getting drenched with rain (or snow!) when fumbling for their keys at the front door!

 

5) Floors

Floor renovations don’t need to cost a lot of money. Do you have hardwood floors that squeak? A few nails can take care of that. Do your wood floors need a refresh? Consider refinishing them. Are your floor tiles cracked or chipped? Replace them. Avoid wall-to-wall carpeting as this is not popular with potential homebuyers.

 

6) Walls

A fresh lick of paint on your walls is one of the easiest and most affordable investments you can make in your home. Neutral colours are most appealing to potential buyers so you might want to consider painting over any bright or bold colours. Before you put your home on the market, make sure to fix any holes, marks, or chipped paint on your walls.

 

You can also save money by choosing the right mortgage for your needs. At Capital Mortgages, we have the knowledge, experience and network to find you the most favorable financing now and for future terms. Contact us today to learn more.