We often think of cabin and cottages as investment properties, but that’s no reason to neglect the value of your recreation property. After all, you’re putting your hard-earned money into it, so why not try to get the most out of your property?
If you’re looking to add value to your home, there’s no better way than by renovating. Don’t get intimidated, though. Renovations come in many shapes and sizes, from big additions out back to a freshly painted entry.
You also might be surprised to hear that a renovation can lower your insurance premiums and make it more likely you’ll be able to increase your coverage with special endorsements.
Increase your curb appeal
You get only one chance at a first impression. The same can be said for your property. If the first thing people see when pulling up to your driveway is an unkempt lawn, ratty garage door, and a garden that’s seen better days, that’s what will stick with them. Cut the grass. Landscape your front garden. Plant a shrub or two.
Repaint or replace doors and windows
Like we said—a garage door that’s seen better days can give off a bad first impression. Similarly, doors and windows that look dated or dilapidated isn’t a great introduction. Try upgrading to a garage door that makes a statement, or a fresh coat of paint is an easy, budget friendly upgrade.
Did you know that that houses painted a darker colour, like charcoal or even black, sell for as much as $6,271 more than expected?!
Throw me on a fresh coat
A cost effective upgrade to spruce up the space is also one of the best ways to increase its value. Some studies have shown that the return on investment of slapping on a fresh coat of paint is as much as 165 percent.
Update the kitchen
It’s easy to be intimidated at the thought of renovating your kitchen, but when it comes to increasing the value of your home, it’s still the smartest route. You can start small, too; upgrading your appliances (preferably to stainless steel) before ripping out your cabinets, building a new kitchen island, and re-doing the floors.
Of course, if you have the means, those other upgrades can add tremendous value. Redoing the plumbing is always a good way to please insurers, but find out about the materials that will be used.
Renovate the bathroom
There’s a sliding scale when it comes to upgrading and updating your bathrooms, but next to kitchen renovations, it’s the best ROI when it comes to increasing the value of your property. As always, you can start with the little things: a new counter top, a modern sink, and updated taps and fixtures are easy ways to modernize the space.
Comfort and luxury can also make a huge difference, whether that’s adding heated floors, re-doing the lighting, or swapping in a new shower or soaker tub.
A smart home for a smart owner
Upgrading elements of your property to something smarter can make it seem more future proof. Think smart doorbells, voice-controlled thermostats, and programmable lights. Bringing your property into the 21st century doesn’t have to break the bank either.
Accessories in the cottage are an easy upgrade, and something as simple as updating the handles on your cabinetry and knobs on your doors can do wonders for the look and feel of a space. The main thing to consider when replacing knobs and handles is consistency, at least when talking room-to-room. Find a style that works and stick with it.
Lighten up your the place
Get rid of any fluorescent lights, install new fixtures, and look for soft lighting wherever possible. While we’re not saying you should go overly ornate and fill your space with fancy Edison bulbs and elaborate, exquisite chandeliers, something as simple as adding dimmers and task lighting throughout can instantly change how it feels, especially on a chilly rain day. Ideally, you want to switch to LED where possible, maybe even a smart LED system. A well-lit recreation property is a security feature for when you’re away. Thieves are more likely to target a darker place.
If there’s a basement, finish it
Even if you aren’t planning on renting it out as an investment property, a finished basement can turn an eyesore into usable space, and when it comes to square footage, the more the merrier – especially when you have friends and family in to visit for the weekend. Basement lowering and underpinning has come a long way, and the result is a surprisingly livable lower level space. But even if you’re not adding a bedroom or full living unit on the bottom floor, making it usable makes all the difference, whether that means turning it into a man cave or just extra storage space to keep the life jackets and off season items.
Re-insulate the place
Whether you’re topping it up or starting from scratch, filling up on insulation is a great way to save on energy costs, reduce noise between rooms, and, if you opt for something like cellulose or sheep’s wool, make your property eco-friendly.
Replace the carpet
Even if you’ve long-since abandoned your old shag flooring, ripping up your carpet is an easy way to take the look of your living space up a few levels. In a cottage or cabin it tends to be more functional with the sand from bare feet or dirt on flip flops that are running in and out for popsicles or bevies on hot days.
Add a back deck (or refinish your existing one)
Having enough space to put a barbecue, some chairs, and a table, can make your outdoor space more inviting. Decks made of composites tend to cost more and return less value, so look for the perfect wood grain (or stain) when fixing up your cottage or cabin.
If you’re looking to update your recreation property, give us a call, email us or fill out the form below. We’re here to answer any questions you may have.
It’s all in the details.