Getting the Best ROI for Your Luxury Bathroom Renovation
Bathrooms are a big deal in a high-end home. Buyers don’t just want a functional or even a trendy space. They want a true retreat that rivals the best Canadian hotel spas. So it’s no surprise that many homeowners preparing to sell assume that the bathrooms are a good place to upgrade, and they’re right. The trick, however, is implementing features and finishes that get you the ROI you need. Here’s where to start: Vanities With StorageWhile a pedestal or minimalist sink has a certain look to it, more storage will always add value to a home. In a luxury bathroom, consider closed storage with wide drawers that slide out and feature high-end hardware. Not only does this look upscale, but it adds functionality. Double VanitiesDouble vanities are an obvious way to add value to a bathroom, especially if there is only one master suite. Nobody likes having to alternate sink space to spit out their toothpaste in the morning. As a bonus, double vanities add more countertop space as well. Standalone BathtubAccording to a recent analysis from Zillow, adding a standalone tub can add over 20 percent to a home’s value and it’s easy to see why. What’s better than indulging a spacious soaker tub with a glass of wine, especially during long, cold Canadian winters? In-Floor HeatingSurprisingly simple to install, electric floor warming systems are a seemingly small touch with a big impact. Stepping out of your morning shower onto warm tiles is an absolute dream and the effort to implement is minimal compared to the added value your home will get.
Here's What Upscale Buyers Are Looking for in a Home Office
When you’re showing off your home and hoping to attract the perfect buyer, having an executive home office is key. Most luxury buyers will have this on their shopping list, and even if they don’t, it still shows off your home’s versatility. Here’s what features are ideal. LocationHome offices are best set up in a quiet part of the home with less traffic than the rest. That means away from kitchens, bathrooms or children’s play areas. Even though it might be quieter, resist the temptation to relegate the home office to the basement unless you have to, unless there’s ample natural light down there. An Executive Desk ChairIf you splurge on one office item when it comes to staging, make it an executive chair. Upholstered in rich leather or contemporary fibre, this gives the space a sense of executive luxury and will make it easy for buyers to see themselves both hard at work and in comfort. Natural LightA pleasing home office should have plentiful natural light and, ideally, a view. Nobody wants to work in a badly-lit space, or, on the flip side, under artificial fluorescent lights. More Than One FunctionWhile a solid desk and chair are key, many luxury buyers use their offices for other tasks too. Staging part of your home office as a compact cocktail station— or with a floor lamp and comfortable lounge chair for reading or casual seating—can give it an edge. Sound-Proof FeaturesIf you can advertise your luxury office as being soundproof, you’ll undoubtedly appeal to many a business-minded buyer. Whether this means external sound baffling or extra insulation inside the walls, this seemingly small feature can go a long way, especially for those who work at home, which is on the rise in Canada.
Don't Buy These Myths About Buying Luxury
So many people have opinions about buying a home, and naturally, the stakes are even higher when it comes to buying a luxury home. Unfortunately, myths about buying luxury are as common as they are damaging. Here are some of the ones we hear often: You’ll get a better deal on a luxury home in the suburbs. Many people believe that luxury homes in urban centers are more expensive, and in most Canadian cities this is true, if you’re talking about purchase price. However, there are other costs a buyer must take into consideration, such as the price of a longer commute and of more yard work and maintenance, which homes in the suburbs often require. There will be more selection in the spring, so this is the best time to buy. Some people will tell you that spring is the best time to buy a home as there is more inventory on the market. The truth, however, is that homes put up for sale during the winter—which, in Canada, is not always the most comfortable season to house hunt—are listed because the owner is motivated to sell. This can result in more leverage when negotiating. It also means that there may be fewer buyers out and about during the colder months. You should wait to buy until… Ultimately, nobody can predict what the market might do next. Instead of focusing on “when” the right time to buy a home might be, focus on doing your research, having a contingency fund and working with an experienced real estate agent.
Categories
Recent Posts
