When it comes to home improvements there are two major things to consider; if the improvement will increase the value of your home to you or if it will increase it to others when and if you decide to sell your house. The most valuable home renovations for your home are the ones that boost your home’s worth in relation to the amount you spent on it.
Strategic decisions are important to make during the renovations. Doing these projects serves two purposes; a joyous and happy feeling in your home while making an investment for the future. So now you might start asking yourself which home improvements add the most value? Read on to learn more about the best projects with the highest ROI (Return On Investment) to undertake to raise your home’s rate.
Kitchen Renovations
The kitchen is the heart of any home. More than any room, it has a magnetic pull. Having a vibrant kitchen makes people want to gather around and socialize there. As a result, this room is what attracts prospective home buyers. To make the right decision is important here as it can make or break any possible deals.
Minor renovations are the way to go when it comes to the kitchen. Stylish improvements can lead to a 60-120% return on investment. Interestingly, you don’t have to spend a lot of money on the kitchen to get a big return. A minor remodel will recoup about 81% of its cost, while a major upscale remodel will only recoup 53.5% of its cost. The key is to not overdo it. Make the kitchen naturally flow with the rest of the house.
The most valuable home renovations in Canada include modernizing the cabinets, countertops, installing new appliances, painting the walls, and putting in new flooring. These projects don’t have to be done at the same time. Incremental, well-timed kitchen improvements will go a long way.
Home Renovations: Bathroom Remodel
Bathrooms are more than just an essential space; they present a major opportunity to improve your home’s aesthetics and functionality. Just like the kitchen, bathroom remodeling shouldn’t be a large-scale process. If the renovation is done correctly, the average ROI for minor bathroom upgrades is 102%. Paying attention to small details and to the current design trends is essential during this process.
To boost your home’s value is more about prioritizing practical, cost-effective jobs that refreshes and upgrades the house. Re-caulking and re-tiling surfaces are one of the things that you can do. As well as installing new fixtures and lighting, painting, fixing the plumbing, and installing new flooring.
Windows & Doors
Having a single-pane outdated, leaky window won’t add any value to your home. As a matter of fact it may downgrade the whole home. Installing modern, energy-efficient windows and doors will kill two birds in one stone. They will improve the home’s efficiency while making it more aesthetically pleasing. As is the case with large-scale renovations, this project is expensive. That said, you must keep in mind the potential ROI instead of only fixating on the cost. New windows yield a very significant return. Homeowners can recoup between 70 and 80% on the initial investment.
To have reliable windows and doors, you must look into ones that are certified. This way you are sure they are meeting certain standards for the design and performance.
Landscape
Curb appeal is the main attraction of the house. A beautiful landscape will not only make you the talk of the neighborhood but it will also increase the value of your house. A well maintained front yard and garden that is aesthetically pleasing makes all the difference. The estimates vary significantly for the landscaping’s ROI. However, a few things have a timeless appeal that have proven to matter during the selling process. Flowers, shrubs, walkways, and flagstones are examples of what you should have in your garden.
Here is another reminder to not overdo it. An excessively manicured yard makes people think maintaining such an over-the-top garden is hard and exhausting. And this is the opposite of what you want when investing in a home renovation. So instead of going overboard, plant some flowers and create a beautiful space for people to sit in. A professional can help you out with creating the ideal landscape for your home.
A Refreshed Deck for Home Renovations
It doesn’t matter who you are or how old you are, having a beautiful backyard deck to relax and socialize on is an appealing thing. And to no one’s surprise, refurbishing or even installing a deck has a very high return on investment.
Homeowners can expect an ROI of approximately 75%. The prices for deck installation fluctuate but it is still an investment worth making. And for those who already have a deck, a few improvements go a long way. Refresh an old worn out space with power washing, staining, and sealing.
With a better understanding of the ROI on each home renovations in Canada, now you can make the right decision for your home. Find a professional you see fit for you and let’s get to work!
