Home Renovations with a Great Return on Investment
We’ve all been there: “I love our kitchen, but what if we added an island?” or “our en suite bathroom is great, but it’s missing a little colour” or even “our basement is so spacious, I wonder what it would look like finished”. Sound familiar? If you can relate with any of the above questions (or have debated a slightly different tweak to your home) then you’re likely well-acquainted with the idea of home renovations and how they can truly revamp a living space (or two). But what if we told you that there were home renovations you could take on that could actually add value to your home and give you a great return on investment? Here are a few examples for you to possibly get a head start on!
- Let’s get cooking! It’s agreed upon by most that a kitchen remodel is the number one room to renovate in your home – especially when it comes down to adding a little extra value. By adding some new (neutral) cabinets, a coat of paint, and some stainless steel appliances, the value of your property is bound to certainly increase.
- Adding a little modern flare to your bathroom: second to your kitchen, updating a bathroom(s) in your home will certainly appeal to potential homebuyers (and visitors). Let’s face it, no one wants to walk into a dirty or dated bathroom. Popular powder rooms to renovate include the main level and/or your en suite!
- Say goodbye to carpeting! Speaking of dated, let’s dive into carpeting. In short, carpeting gets stained (especially with kids and pets, right?); needless to say, carpeting becomes rather difficult to keep up with in terms of keeping it clean. However, by replacing those floors with something like hardwood, laminate or vinyl, you’ll be adding substantial value to your home (not to mention crafting a little modern charm for the modern homebuyer).
- Biggest bang for your buck? Renovations can certainly cost you some money and time; so, if those resources aren’t exactly readily available, renovating your home can seem like a rather daunting project to take on. Rest assured, however, there are ways to add value to your home that don’t require a whole lot of time and/or money. Introducing three small words: Paint, doors and trim. Adding a coat of paint to a room (and to your trim) can actually go a long way in terms of brightening a living space. And in that same breath, replacing a few of the main doors throughout your home can really modernize your living quarters (don’t forget hinges and handles!), adding some worthy return on investment when selling.
- Hardware and more: keeping with the idea of changing up a few small things to make a big difference, switching out bland hardware and light fixtures can make any room feel more at home. Avoid having an entire room look dated by adding new hardware to your kitchen cabinets and drawers, handles to your doorways, pot lights to an open concept living space – the list goes on!
By putting in a little time renovating your home, you’re sure to get back a little investment in return with each project you take on. In fact, sometimes such renovations (as listed above) can have a return value of 5-6 x what they cost. Now, that’s something to write home about! Time to dig up those tools and pull out those drawing boards. Happy renovating!