Get the most ROI with these home renovations!

Regardless of whether you’re planning on selling your home in the next few years or staying for a while, it’s always beneficial to keep in mind how much return you’ll get on the time and money invested in each renovation. In this blog, I’ll cover some different cost-effective upgrades you can make that carry lasting power and buying appeal.

Smaller-Scale Quality & Style Upgrades

There are a ton of smaller upgrades you can make that can really boost the value of your home and property. Consider implementing many of these upgrades if you’re looking to sell your home in the near future.

Fresh Coat of Paint

It never ceases to amaze me how much of a difference a fresh coat of paint can make. Generally, it doesn’t cost very much compared to other upgrades, it just takes a bit of time and effort. You can hire professional painters, but your budget will have to increase. Consider repainting surfaces outside of your home as well — like walls, doors, fences and windows. Feel free to keep the same colour, or spring for something new! A fresh coat of paint makes everything feel revitalized and clean.

Hardware Upgrades

Consider replacing the hardware inside and outside of your home. Knobs and handles are far more critical than you might expect, anyone going through your home will likely touch multiple of these pieces as they walk through. There’s nothing worse than wrapping your hand around an old dirty knob. The choice is yours in terms of budget and what to replace.

High Quality, Durable Flooring

Not only do floors take up a huge portion of the visible space in our homes but they are also the most highly used surface. Seeing high quality flooring laid throughout make the space look fresh and assures people that they won’t need to be replaced anytime soon. This refreshing upgrade could carry an ROI upwards of 70%.

Larger-Scale Room Projects

If you’ve got a higher budget, there are some larger-scale renovations that can make a huge difference in the appearance and value of your home. When it comes to these renovations, buyers are looking for utility, style and lasting power, which as it turns out can be nice qualities for homeowners as well.

Open Up Your Home

It may sound extreme, but strategically knocking down a wall or two can really open up the space and affect how it feels to be in your home. Theoretically, you can do this on any floor of your home, and to any extent you’d like. Strongly consider hiring a professional to help you with the process, as some walls are vital to the structure of your home.

Bathroom

A bathroom renovation is another great functional upgrade that can carry benefits when you’re looking to sell. Many choose to redo their master bathroom, but you can also achieve some return from a smaller bathroom as well. Bathroom renovations generally carry around 70% ROI, often making them well-worth the investment.

Kitchen

When it comes to kitchen renovations, most people upgrade the same features: the appliances, counters, cabinetry, lighting and backsplash. But in terms of style, the choice is completely yours! 

These renovations also have good lasting power since the new appliances likely won’t need to be replaced for quite some time. This also means that ideally, you can get some good use out of your kitchen before you look to sell your home. But when you do, kitchens carry some of the highest ROI of any renovation so it’s almost sure to catch the eyes of buyers.

Enjoy the planning process!

Now that you’re more informed about which upgrades carry the best return on investment, the next step is the planning process! Remember to hire any professionals you may need along the way.

If you’re looking to buy a home or sell your current one, don’t hesitate to contact me!