How To Increase Your Home’s Value & Make It More Energy Efficient
Homeowners remodel their homes for a number of reasons, but one of the most common is to increase resale value prior to listing. Renovations will improve the style and function of your home and may make it more appealing to potential buyers if you’re thinking of listing your home. So are you ready to tackle the bigger projects to see sweat equity when it comes to list your home in the future?
Renovation Facts and Figures
40% of renovation projects went over budget, while 33% stayed on budget.
40% of home improvement dollars in Canada have gone into kitchen renovations.
Top 3 Reasons for Renovating
1. Improve the design/look and feel
2. Increase resale value
3. Improve storage and efficiency
Top 3 Renovation projects
1. Bathroom renovation/addition
2. Kitchen renovation/addition
Upgrade Your Kitchen
The kitchen is the heart of the home. A kitchen remodel will not only improve your home’s functionality, it may also become a key selling point if you decide to sell. The average kitchen remodel costs $24,912 (CAD), with people undertaking a high-end remodel spending an average of $49,495 However, if you’re thinking of listing your home soon and your kitchen is in good shape, you may want to rethink a full remodel. A minor upgrade and a coat of paint may be all you need to freshen up the space.
Upgrade Your Bathroom
The bathroom is the place where you get ready to take on the world every day. Show it some love with a makeover. Upgrade your fixtures to reflect your style, or create the spa-like getaway of your dreams. Canadians spent an average of $10,127 (CAD) on their renovation, with people spending an average of $21,200 for a high-end remodel.
Improve Energy Efficiency
Is it time to upgrade your appliances, windows, or other energy-impacting parts of your home? Upgrading your home with energy-efficient features will not only save each month on your utility bill, it may also make the home more attractive to younger or more energy-conscious buyers.
When you move into a new home, no matter how thoroughly it has been inspected, there are always a few surprises. Like when your couch can’t quite fit down the basement stairs or when that one heat vent for some reason gives of no heat. To be thoroughly prepared when you move into your new home means to be ready to tackle certain tasks that will not only make your new house more cost effective and energy efficient, they’ll also make your home more valuable in the long run! So what should you be ready to do to make your home more energy efficient? Here are a few tips...
Go low flow. Bathing and showering comprises 35% of Canadian household water use. Low flow faucets and showerheads can help you dramatically reduce your water consumption, which can help you save money.
Fix leaks. Leaky faucets and pipes increase your water bill and may require expensive repairs if they’re ignored. Every six months, inspect your faucets and pipes for wear and tear. If you notice a leak, fix it right away, and don’t forget outdoor faucets!
Go tankless. If it’s time to upgrade your water heater, consider going tankless. A tankless water heater may help you save 20% on your water bill. An added bonus: You’ll never run out of hot water again!
Canadians use an average of 105 gigajoules of energy per household.While you may have already switched to compact flourescent light bulbs to save money, these tips will add to the savings by regulating your home’s temperature.
Rethink your insulation. Good insulation not only helps regulate the temperature of your home, it can also reduce your heating and cooling costs by as much as 20%
Manage the temperature automatically. Wouldn’t you love to come home to the perfect temperature? A programmable thermostat helps you save energy and money by scheduling temperature settings for when you’re likely to need heat or air conditioning the most, such as when you wake up and when you arrive home from work.
Seal up drafts. Have you ever wondered why your home won’t stay warm in the winter or cool in the summer? Check your windows. Drafty windows are not only a nuisance, they can also cause 30-40% of heating and cooling losses. Apply weather stripping to your windows to patch up leaks and save more money.