Masonry in Real Estate
The masonry on a brick house is vital to its market value. If you are selling a house and want to increase the value before selling it, you would consider upgrading the houses’ masonry aesthetics to increase the curb appeal. Conversely, you may have recently bought a home and want to upgrade its value over the long term. Therefore, you might invest in structural changes, or waterproofing the basement to convert it into a rented space and generate income. Whether you need short term benefit or long term value, the masonry items of your house are an important aspect of your most valuable asset.
Short Term
If you are on a short term time frame and are looking for the highest return, you might focus on boosting the curb appeal of your home, and repairing the masonry around the perimeter of the house. The curb appeal is significant to potential buyers who will quickly generate an opinion about the house upon seeing it. Installing a stone veneer on the front steps or front of the house is of major importance here to really command attention. Consider using neutral coloured stone to appeal to everybody and accent with removable items.
As potential buyers take their first steps on the property, they will have a closer look at the masonry items. Upgrading the landscaping at the front of the house, such as releveling or replacing interlock walkways and retaining walls, as well as powerwashing and tuckpointing will give the impression of a well-maintained, established home and add to the house’s appeal.
These are items first observed by visitors upon arriving at the house, however most buyers will also do a perimeter check of the house. They will be looking for cracks in the brick and foundation walls, as well as at the chimney, which could be tuckpointed for repair. Walkways around the house should be levelled and the stairs up to par when buyers are doing a perimeter check. These will keep buyers from questioning the integrity of the structure and ease thoughts of water damage to the home. Contributing to the curb appeal and maintaining your home are low cost ways to increase the value of it and buyers are sure to be impressed by these masonry items.
Long Term
On a long term time frame, you will consider different options to upgrading the value of your home. These masonry items will cost more, but they provide far greater potential to the home’s value to you as well as to a potential buyer.
Here we might consider opening more, or larger windows in the brick walls to bring in more sunlight. Relating to buyers, the increase of light will cause the room to feel larger than it is and it will subconsciously lift the mood of visitors in the room. Similarly, enlarging an opening to a double door in the back of the house that opens onto a stone patio will brighten the room. Buyers will relate the stone patio as being part of the room adding to the usable square footage of the space.
An increase in square footage relates to an increase in price. A good investor would increase the indoor square footage of the home by installing a new foundation and building an addition to house. Adding to the square footage and value.
Another option to increase usable square footage is finishing the basement. This would increase usable square footage of the home by 33% or 50%. Homeowners consider underpinning the basement to have upwards of 8’ of ceiling height. As well as removing interior basement walls and installing a steel lentil to create an open space that can be easily adapted to who is using it. We often waterproof the foundation and/or install a sump pump and backwater valve, in order to protect a finished basement from water damage. In addition to installing some plumbing and repouring the concrete floor to keep the moisture away. The masonry items of a home are a vital part of its value.
Renting
On a long time frame, options to generate revenue from your home also open up. You can build an addition to your house and your basement could be converted into an apartment; and legal units require certain masonry items. You might need a basement walkout built to provide a separate entrance for tenants. You would also need to consider enlarging a basement window to act as an egress window, which is basically an emergency exit for the apartment. We quite often complete masonry items that relate to renting a basement. These items should be completed before renting your basement, as they become difficult if the unit is occupied. Also, should anything unfortunate happen, you are protected by conforming to the by-laws. Recently becoming popular, homeowners are adding a laneway house to their property. If you’ve got a laneway connecting to your property, you can have a two-story structure built on it and rent the space.
We enjoy applying our knowledge of masonry for homeowners whether they are looking for a short term benefit or long term. Masonry items are important to brick homes, and when properly maintained or built, these durable items add volumes to the value of your important investments. Have a look at our work portfolio to get ideas on how you might add value to your home. Get in contact with us through email at colliersmasonry@gmail.com, or via the contact us page to have us help you realize your real estate dreams.