Dear David,

We built our home 15 years ago and didn’t do many upgrades. We focused on size, and figured we’d make improvements as we went. We’re hoping to move in the next few years and have about $20,000 saved to freshen things up. My partner thinks we should renovate the ensuite bathroom, but I’m leaning toward adding a deck and doing some cosmetic updates. From a resale perspective, where would you recommend we spend our funds to get the best return and move closer to being market-ready? – THINKING AHEAD

DEAR THINKING: With your next move on the horizon, it’s smart to be thinking about how to prepare your home for resale. Renovating the ensuite bathroom can offer solid return on investment, especially if the space is dated or not functioning well. That said, with a $20,000 budget and some time on your side before you move, spreading those dollars across the whole home might be the best use of resources.

One of the best and most economical places to start is with a fresh coat of paint throughout the house, including the walls, trim, baseboards, and doors. Choose a neutral, Realtor-approved colour with universal buyer appeal, and be sure to keep some paint stored away. When it comes time to put your house on the market, you’ll be able to get away with doing minor touchups, instead of repainting the whole house again.

Upgrading your lighting fixtures is a budget-friendly improvement that can give your home a more modern feel. You don’t need to invest in anything flashy, just clean, contemporary designs that will help the space feel current. While you’re at it, you may want to consider replacing outdated door knobs and hardware throughout the house, as these small touches can have a big visual impact.

Adding a deck is another fantastic investment, as it increases your usable living space and adds a “lifestyle” component to the home that can make your property feel more complete. Buyers are often drawn to outdoor spaces that feel move-in ready, and a well-built deck will definitely deliver.

Finally, since your home is 15 years old, it’s wise to start budgeting for more significant elements that may be approaching the end of their economic lifespan, such as the furnace, A/C or roof. Even if you don’t need to replace these things right now, knowing their condition will help you avoid surprises and assist in establishing a more predictable path towards resale. 

PRO TIP: Thoughtful cosmetic updates paired with functional additions (like a deck) generate worthwhile return and can help your home show beautifully when it hits the market. Consider budgeting for one larger project each year, and if warranted, tackle major items like the furnace, A/C, or roof ahead of time. When it comes time to sell, you’ll reduce buyer objections and help  your home to feel truly move-in ready. #Advice #AskDavid #TheNegotiator