Boost Your Leaside Home’s ROI with These 6 Updates

The past few years have seen unprecedented change in the nation’s housing and remodeling markets. Current data shows that Leaside, Toronto homes for sale enjoyed double-digit increases in value year over year. Remodeling spending also surged during 2021 as homeowners invested more in their own living spaces.

Updating your home is a sound investment whether you are thinking about listing Leaside homes for sale soon or you’d like to focus on strategic home improvements that can pay dividends well beyond the initial investment. Here are six ways to increase the value of your Leaside home.

There is no question that we have all been spending more time in our homes during the past two years. We have been working, studying, and entertaining more in our homes than ever! Homeowners want home offices, study nooks, and functional spaces for entertaining.

Bring in a professional to help evaluate your current home’s floor plan. Is a new addition feasible? Are there ways to open up or convert existing spaces to allow for these shifts in our everyday living? Maybe you can enhance your home’s outdoor entertainment spaces with a new deck, patio, or outdoor living room? Consider how you utilize your current space and determine how you can create a home that meets these changing needs.

We can’t emphasize enough how important curb appeal is — most potential buyers decide on a home within the first five minutes. That means focusing on what they will see first is critical. Exterior improvements remain one of the top investments that can increase the value of your Leaside real estate. Look into new siding efficient windows, or consider adding stone or brick elements. Professionals even recommend replacing the front door with a real show stopper. Surprisingly, you can recoup almost all of the investment in a new garage door.

Numerous minor improvements can also enhance your home’s curb appeal. Is the driveway and walkway in good condition? Can you add some decorative stone or concrete for extra pizzazz? A professionally manicured lawn can be improved with fresh mulch, colorful flowers, and tasteful containers. When you want to stand out from the crowd, details are essential.

Kitchen updates remain a solid investment in return on your remodeling dollars. However, the return on a kitchen remodel can vary greatly, depending on how extensive the updates are, what type of materials are used, or the chosen quality of the appliances. This means you should consider whether you plan to list your Leaside real estate in the near term or well into the future.

If you plan to stay in your home for a while, design the kitchen of your dreams. Otherwise, consider more minor updates, like new appliances, faucets, or light fixtures. You can also transform a kitchen with a modern new backsplash to give it that “like-new” spark. The kitchen is one of the most-used rooms in any home, so take the time (and funds) necessary to plan a functional and beautiful space to give your home the wow factor!

Like modern kitchens, an updated bath with clean lines can exponentially increase your home's value. Bathroom remodels typically require a smaller investment than a kitchen overhaul, so if your home’s baths are worn or dated, it may be time to remodel them completely. But you can also add value by simply replacing vanities, light fixtures, and flooring for a fresh new look. A beautiful, luxurious bathroom can elevate your living experience and enhance your home’s value to potential buyers.

Day-to-day use can leave even the most beautiful home with tiny imperfections in the walls and woodwork. Having the interior professionally repainted is an inexpensive way to add value to your home’s selling price. You can ask a trusted designer for suggestions or check out the current color trends here.

Flooring can also show daily wear and tear like walls and woodwork, and it’s often overlooked as a means to transform a home. Refinishing wood floors will make your home feel brand new. Replacing carpet or tile is also a relatively easy way to give your home a fresh look. Flooring options have expanded dramatically in recent years with many new natural materials, unique finishes, parquet, and geometric and patterned tile choices that can add style and impact to your home.

Regardless of what you decide to do in terms of remodeling, with any investment, timing is everything. That’s why it’s vital to evaluate how long you plan to stay in your current house before you embark on any remodeling project. You should also take note of the current housing market trends and determine how long you think the current seller’s market will last.

If you’re considering listing your Leaside homes soon, you may also want to look at other homes for sale in your neighborhood to see how your home stacks up. Having an idea of what other homes for sale in your community look like will also help prioritize your updates. Looking at photos of comparable homes can give you a pretty good idea of any areas of improvement you need to target. You may also want to reach out to local real estate professionals who can help you with pricing and evaluating the competitive landscape.

Trusted Leaside real estate agent Giulia Gallina knows the market and will have even more ideas on maximizing your investment. Once you’re ready to start preparing your home for sale, contact Giulia for expert guidance throughout your next real estate venture!