Renovations That Give a Return on Your Investment

If you’re looking to raise the value of your home, probably because you’ll be putting it up for sale soon, you may need to get some home styling services in Edmonton, if your home is in this area of Canada. The return on investing in renovations on your home isn’t as profitable as many reality shows make you believe.

Although many people want luxury, they can’t afford it. Which is why you need to focus on what prospective buyers will appreciate and afford when renovating your home.

Generally, renovations that add some square footage and improve livelihood is what brings a return on investment in home remodelling.

Parts of the home such as the curb, kitchen, bathroom, and basement, are proven areas of the home that improve the value of homes after renovation. However, using luxury materials where they’re not needed might reduce the possibility of getting any return on investment.

Parts of the Home that Gives Return on Investment

Fixing different parts of the home will improve its outlook; however, some parts are more important than others, when it comes to giving you some return on investment after renovation. They include

The Curb

The outdoors is the first contact for prospective home buyers, and it helps them form an idea of what the inside of the house will look like. Curb appeal is one of the most important things to consider when renovating a home. Ensuring that the landscape, porch, and door, all form part of the curb appeal. Therefore, you should consider the right color your door should be.

Balancing the color and texture of your landscape, outdoor walls, and door, affects your curb appeal. However, as a general precaution, use styles and designs that aren’t foreign to your neighborhood.

The Bathroom

As one of the most important parts of the home, renovating a bathroom in your home improves the life of the occupants. While you may not need to add luxury wall tiles or bath tubs, replacing the worn-out essentials, such as vanity handles, drainage, shower, or floor, will greatly improve the value of your home.

Avoid excessive aesthetics as they may be detrimental to your goal of getting a return on investment. However, you can add simple bathroom designs, that cost little, on the walls and mirrors.

The Kitchen

One of the busiest parts of the home, the kitchen almost always needs some equipment or part that needs to be replaced. The walls may be losing their shiny appeal, the countertops may look dull, the cabinets may need some replacement doors. Whatever needs to be changed in the kitchen is an investment.

While replacing floors and countertop materials, ensure that you’re not going over the top. Simple but quality materials will give you more ROI compared to extravagant and quality materials.

The Basement

The basement is one of the most reliable places in the home to get some heat, even in the cold. As Canada is home to cold, you can be sure prospective buyers are looking to occupy homes with good heat. Also, finished basements serve as extra living space, an addition for you and the prospective home buyers.

If your basement serves as a storage of sorts, remodel it into a living area with good flooring. The extra living square footage will increase the overall value of your home, and increase your return on renovation-investment.

Factors That Affect Renovation Items to Use

Different neighbourhoods see different household items as necessities. While a high-income neighborhood sees a heated pool as a necessity, a below-average income neighborhood doesn’t care about it. Therefore, consider your locality to determine what is considered luxury, and what is considered a necessity.

Conclusion

To get a good return on investment on renovating your home, you should discuss your goals with some home styling services in Edmonton, to see which best suits your purpose. However, keep luxury to a minimum on renovations.

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Liliam Vasquez

Liliam is the owner and creative mastermind behind The Staging Place. She earned her certification as a Stager and Colour Expert through Home Staging Resources (HSR) after more than five years in real estate investment. Being from a family of fine artists, Liliam inherited an eye for creating stylish, wowing spaces. This, combined with her attention to detail, contagious energy and commitment to clients, makes home staging a natural progression for Liliam.

Whether preparing a property for a quick sale or transforming a client’s home into their perfect haven, Liliam uses her passion for design, colour, art and home décor to bring out the best in any type of space. Her goal at The Staging Place is to combine her expertise, education and passion for good design to create impactful spaces that buyers are attracted to and homeowners never want to leave.

Liliam holds formal real estate education, a bachelor’s degree in Civil Engineering and a certificate in Adult and Continuing Education. Liliam has been a recognized leader in education since 1995. She has taught and managed various educational programs ranging from higher education to corporate training. Before coming to Canada Liliam was co-owner of the largest E.S.L. Training Academy for children in Eastern Venezuela. During her free time, Liliam enjoys traveling with her family, spending time with her dog Romeo and exploring ways to create financial independence.
  • Member of the Real Estate Staging Association (RESA)
  • Member of the American Society of Home Stagers and Redesigners
  • Member of the Collaborate Real Estate Edmonton Team

Rolando Davila

Rolando moved to Canada from Venezuela in 2004. He studied Civil Engineering at the University of Andes in his home town Merida and proceeded to work in large-scale capital projects in the Oil and Gas industry. Passionate about Project Management, Rolando completed a Project Management Certificate at McGill University in Montreal and completed his PMP designation in 2010. After 25 years in construction management, Rolando and his wife Liliam defined a different vision for their family and started Davas Real Estate  in 2014. Through it, they help home buyers and other investors find sound quality investments that gets them closer to achieving their financial ‘why’.

Before devoting his work full-time to Davas Real Estate Inc., Rolando fulfilled different managerial roles from Technical Services Manager, Project Manager, to Manager of Construction Services at different Engineering, Construction, and Oil & Gas companies including: Hatch Engineering, Suncor Energy, Aecon-Lockerbie, WorleyParsonsCord, and Williams Energy.

In his free time, Rolando loves to travel and enjoy fine dining around the world with his wife and daughter, Claudia. He and his wife also run a coaching and mentoring company that helps people set goals and create a game plan in pursuit of financial independence.

Claudia Davila

Claudia provides part-time support as photographer and videographer and is the newest addition to our team. Claudia recently graduated from the University of Alberta and received a BSc. in Civil Engineering. She also has a strong skill set in Social Media, videography and photography. Her unique and versatile skill set will help us grow our social media presence through impactful photos and videos of our homes. She helps us capture the beauty of the homes we stage or style. Her passion for capturing places and making them as beautiful as they are to someone who cannot see them live will for sure be a great asset to our company and our clients.

In her free time, Claudia loves to travel and enjoy fine dining.

Amelia Bracamonte

Amelia provides part-time support as assistant stager and gift basket designer. She has a background in fine arts and attended school at Western Kentucky University. Her love for flower arranging, Her eye for design and attention to detail give our staging vignettes and gift baskets the perfect touch!

During her free time, Amelia likes to paint, read and spend time with her friends and three granddaughters.