The ongoing pandemic has negatively impacted home prices in most regions including Toronto, and more and more homeowners are gravitating towards home renovation than sell at the low prices prevailing currently. In fact, this is the right thinking too since simple home renovation can boost your property value considerably. But, the best way to ensure that your home renovation project is affordable and yet delivering the ‘wow’ factor is to work with an established interior design consultant Toronto. Professionals bring a wide array of experience from multiple projects to the table and can give you several cost-saving ideas without compromising the objective. As for financing your home improvement project, you can either use the equity on your home to raise a loan or use your savings. If you are considering a large outlay, you should also preferably consult a finance professional to understand various tax implications.
On that note, let us explore how some tips for home renovation in Toronto downtown can help you.
Many home renovation projects can improve the quality of life for you and your family while also adding value to the home.
For most of us, the kitchen is reckoned as the heart of our home, and therefore it is worth focusing on the kitchen when you undertake a home renovation. In most situations, what you spend on kitchen remodeling is an investment than an expense and you can expect this investment to return anywhere from 60% to 120%, with a rider that you don’t go overboard with this part of the job.
Some people make the grave mistake of investing too much in kitchen renovation. Maybe, you have seen a lavish kitchen in a hotel or a guest house. But, when you copy that to your home, you are losing the sense of proportion and balance. The size of the kitchen should never be the same as a large bedroom or your living area. This is yet another reason why you should speak to experienced interior design professionals to get things right even before you start working on your home renovation project.
Thoughtful painting enhances the visual appeal of your home
Painting is the final act in a home renovation or even a new home job. Invest in quality time to understand not just colors but also the quality of paints that go into the renovation job. When you look at the color swatches on your computer screen or even a physical sheet, all colors look attractive. But, ideally, you should move away from that and look at sample homes around Toronto, with different colors. The digital world presents a host of options in this direction and it gets a lot easier to determine the colors that are most suited for your home. Speaking to an interior design professional can also help in making an informed decision. Do also know that many paints contain volatile organic compounds and you are better off with low VOC paints. In terms of pricing, the cost of painting your kitchen can range from $5,000 to $75,000, and how much you should spend is your decision. When you are not planning another home renovation or a repainting job over the next decade, you can think of putting a little more money into higher quality paints. But, if you are planning to sell your home over the next few years, you may want to keep your spending lower.
The energy efficiency of appliances
There are many energy-efficient kitchen appliances in today’s market. If your existing appliances are not a match and already aged, consider replacing them with energy-efficient appliances since they lower energy consumption, and potential buyers can see this as an advantage.