For All Your Real Estate Needs in Halifax & Surrounding Area
Paul DeAdder | Real Estate Sales Representative Serving 
Halifax & Surrounding Area | Sutton City Realty Inc., Brokerage

My Real Estate Blog - Market Trends, Tips & Updates

These renovations will boost appraisal values the most

4/30/2019 | Posted in Home Sellers by Paul DeAdder | Back to Main Blog Page

Home Maintenance & Repairs

Homeowners wanting to maximize the appraisal value of their home should think about outside space.

Even though kitchens and bathrooms will have an upward effect on values, the Appraisal Institute says outdoor improvement projects will have a larger benefit.

"The latest research shows that home renovations focused on the exterior of a property are most likely to generate a positive cost-to-value ratio," said Appraisal Institute President Stephen S. Wagner, MAI, SRA, AI-GRS. "However, not all home improvement projects offer a full return on investment – cost doesn't necessarily equal value."

Replacing a garage door or adding a deck will also provide additional value for sellers.

However, Wagner says that sellers should also consider how they can make their home stand out from others in the neighbourhood.

“Renovations that move a property well beyond community norms are typically not worth the cost when the owner sells the home, and likely will be considered excessive" Wagner said.

FOR SELLERS
Are you thinking of selling your property
and would like to know how much it can sell for?
Click here to get your property appraised for FREE!
FOR BUYERS
Thinking of buying a home or investment property?
Sign-up for FREE to get immediate access to listings
in your desired area as soon as they hit the market!
PROPERTY SEARCH IN GTA
Are you thinking of buying your first property,
downsizing, or upgrading to bigger and better?
Click here to search through thousands of listings!