More and more Canadians may upgrade their homes in the next few years, as homeowners intend to capitalize on rising prices.
Many potential buyers in Toronto and Vancouver scout for properties in the spring or summer seasons. For this reason, the winter months are a great time to renovate or remodel your house.
Winter also allows you to save time and money because of a faster process for permits and lower labor rates. Here are five of the best home interior upgrades during winter, according to Barry Cohen Homes, the leading luxury property broker in Toronto.
1. Add Backsplash Tiles
A new tile backsplash for the bathroom or kitchen may cost less than CAD 500 the leading luxury property broker in Toronto.
The small price creates a huge difference, especially when you’re dissatisfied with the room’s dated appearance. Plus, a new backsplash installation can be a do-it-yourself project.
Keep in mind that adding backsplash tiles must be the final part of renovations. If you plan a bigger project, you should consider three things before anything else:
Once you decide on the aforementioned elements, it becomes easier to choose backsplash tiles. It’s also easy to overspend when you focus on simple additions before big-ticket installations.
2. Replace A Window Or Two
Your home’s energy consumption spikes during winter, and dysfunctional windows are often the culprit.
The Appraisal Institute of Canada (AIC) recommends window replacements among projects with the best investment return. You can recover up to 100% of expenses in a new window installation upon resale.
Be careful, however, when you choose the design. It must complement your home’s overall look, just like how you choose paint colors based on architectural styles.
3. Install A New Front Door
Curb appeal plays a huge role in a prospective house sale. A new front door helps with making a good first impression because buyers can decide within seconds of looking at your home’s façade.
A new front door may cost less than CAD 1,000. The AIC also listed door-related projects among the ones with the best return on investment.
Depending on the material, you could recover up to 75% of expenses on new front door installation. Blue and green seem to be the most popular color choices, especially when selling a house.
Like window installations, be sure that your choice of a new door reflects the overall home design. It also helps to know the best colors for every room.
4. Overhaul The Garage
Most people think that frigid weather impedes a garage floor overhaul, but the secret lies in the coating material. Ask a contractor if they use polyaspartic materials for floor coatings.
Polyaspartic functions better than epoxy for coating garage floors even in cold temperatures. If the floor still seems new, consider a garage door replacement for better curb appeal.
5. Remodel The Basement
Take home improvement up a notch by remodeling the basement. If a basement turns into an entertainment room or home office, it could “greatly increase” a home’s resale value, according to Barry Cohen.
AIC also estimated the return on investment in remodeled basements at up to 75%.
While a basement conversion requires the help of a professional, you might find more affordable rates during winter because of low demand.
You should ask for at least three quotes from qualified contractors. Use the Contractor Registry Search to verify details.
The Market Value Of Home Renovations
A forecast showed that the home improvement market in North America would reach more than US $1.12 billion by 2025.
In Canada, homeowners spent CAD 80 billion (US $62.76 billion) in 2019 to renovate their properties. Whether or not you plan to spend a large amount, be sure to inform your insurance provider about planned upgrades.
Certain changes to your home, particularly structural ones, may trigger an increase in your premium. Once you’re ready to sell your house, the next step involves hiring an expert broker.
Click here to find out more about Barry Cohen Homes, the leading firm in Toronto with more than US $5 billion in sales volume.