Your home is an investment that grows over time due to many factors – market value, community growth and development, and its look and feel. Renovations can bring more value to your home quickly, especially when you’re making upgrades to rooms and features that future home buyers really value.
Before you grab the hammer, remember that some renovations bring more value than others. It’s important for every homeowner to consider higher impact, higher value renovations when you are looking to spend the money and time to make changes to your home in hopes of increasing future return on investment.
Here are my top five recommendations for renovations that’ll bring you the most value to your home.
Flooring matters. It’s the first thing people see when they walk into a home and it can shape an entire room. The colour of your floors, for example, impacts the fixtures, paint, and design of the room. And, the feel of the floors impacts the comfort level of the room. Good flooring is an investment in the future of the house. So, make sure you choose the right flooring! Do your research when looking into click flooring or hardwood, check out the right ceramics for a kitchen vs. a bathroom, and really take your time if you’re considering carpet – it has to be the right product in the right space!
Flooring can also be a quick and easy renovation win. Upgrading flooring can refresh an entire home and you can do it on the weekend, room by room over time, if you want to DIY.
Every homeowner and home buyer loves a good kitchen. A beautiful, welcoming kitchen can do wonders to a home’s appeal. People want their kitchen to look and feel good, regardless of the size or layout. It’s where most homeowners spend a majority of their time! The kitchen should be a space where people will want to congregate, cook, and have good conversation.
A kitchen refresh can be costly, but there are also ways to save money. You can buy second hand stainless steel appliances, grab refurbished cupboards (or DIY if you’re handy), or even make a trip to IKEA to get inspired. It’ll be well worth your time and investment to go through the trouble of redoing your kitchen.
3. Finished Basement
A finished basement is something future homebuyers like to see. No one wants to move into a home and have an unfinished basement looming underneath them. You don’t have to go crazy down there – some click flooring and drywall go a long way! Put enough finishing touches on the basement to showcase that it can be used as a second rec room, a teenager’s or guest’s bedroom, or even a home gym. Depending on the work that needs to be done to your basement, this can be a quick and cheap renovation that will impress future home buyers.
People care about their bathrooms, and want to walk into one feeling relaxed and fresh. Bathroom renovations are another great way to add value to your home, and you can go as big or as small as per your needs. Whether you’re simply replacing tile and flooring, or adding in updated fixtures like a low-flow toilet and porcelain sink, you can upgrade the space with a few simple moves. Some paint and a new mirror goes a long way too!
If you have the space, a double sink is a great feature to add in a washroom without going overboard with re-plumbing. Don’t forget about that ensuite washroom either – home buyers like to have a private oasis of their own.
5. Back Patio
While the inside of the house is where people will be spending the bulk of their time, a patio provides a perfect escape from daily life. Some wood, stain, and patio furniture can provide the perfect place for you to unwind after a long day, and prospective homebuyers want to know they can come home and light up the BBQ and entertain. While you’re out there, be inspired to keep the lawn and garden in tip-top shape.
One piece at a time
Renovations don’t have to be a huge project like you see on TV. A lot of renovations – such as adding a backsplash to the kitchen, freshening up paint, doing one floor in the house at a time, or upgrading a sink – can be done in bits and pieces. If you’re tight on budget, there are a ton of efficient ways to spruce up your home and get some extra value if you’re looking to sell. Don’t be overwhelmed by renovations! You can absolutely increase the value of your home if you do your research and get creative.