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By 2040, there are expected to be almost 80 million seniors accounting for 21 percent of the population. The existing housing stock isn’t equipped to safely accommodate that many older people—too many steep staircases, narrow walker-unfriendly doorways, and slippery step-in bathtubs and showers. Forward-thinking homeowners are making necessary improvements to their home now—and those changes will benefit people of all ages, not just seniors. According to a 2015 survey by HomeAdvisor, 56 percent of homeowners who hired a pro for aging-related projects were younger than 65, and 10 percent were younger than 50.
While nice to have and a great facility for many homeowners, a swimming pool adds no value to a resale price at all. In fact, some home buyers spend thousands of rands to fill in a pool after purchasing a property. Expensive upkeep and the fear of liability mean that for some, the responsibility of a swimming pool will detract from a property more than add to its value.
The best way to gage what you can expect in terms of resale value on home improvements—especially if you’re planning to sell soon—is to talk to a real estate agent who is an expert in your market They’re sure to know the local trends, and they can show you how other homes with the features you want to add are selling. That way, you can make an educated decision before you start ordering lumber and knocking out walls for a massive remodel.
For instance, the national average budget for a kitchen renovation came in at just under $14,480—at least $5,000 under-budget for the average Canadian kitchen renovation, explains Nicole Silver, spokesperson for TrustedPros. It takes licensed electrical, plumbing and gas experts to install bare necessities in a kitchen,” explained Silver, and these experts come at a price.” Add in the extra cost of durable or high-end finishes and budget costs start to creep up quickly.