These Big Renovations Will Beef Up Your ROI

A kitchen renovation is truly one of the biggest projects you can undertake to beef up your home’s value, and you’ll reap the greatest reward for it, too! Kitchen designs and appliances are constantly evolving and improving, so selling your home with an upgraded, highly efficient and trendy kitchen will make your home that much more attractive to buyers. Be prepared to face hefty reno costs, especially if you’re replacing floors, cabinetry and appliances. Also keep in mind that you’ll likely have to move out of your home during the renovation. Kitchen renovations are a pain, but they pay!

Having a single parking spot in most Canadian cities, let alone two or even three, feels like finding a golden ticket. You’ll do wonders for your home’s value if you can upgrade your curb appeal with a second or third parking space. And while you’re at it, insulating your garage and tricking it out with organized storage walls or even a workbench will definitely make it stand out.

Outdoor living space is always appreciated, especially when it comes to summertime. Having a backyard built for entertaining makes hosting that much more enjoyable. Make your backyard an oasis perfect for family and friends with a spacious deck, lounge furniture and lush landscaping and a fire pit to set the mood. To really ‘wow’ your guests, consider making this easy DIY outdoor theatre which is perfect for cozy summer movie nights outdoors.

Renovating an existing outdated bathroom, or adding an entirely new bathroom (particularly a powder room on a main floor), is a meaty renovation that’s always worthwhile. Powder rooms are typically small, and don’t require a lot of bells and whistles, but benefit from cosmetic upgrades: unique wallpaper, a beautiful mirror, interesting lighting, accessories, etc. Meanwhile, consider dreaming up ways you can create a spa-like oasis in a primary bathroom renovation. A luxury spa-inspired bathroom with heated floors, a clawfoot tub or a new steam shower will be an incredible feature that will set your home apart from the rest.

It’s no surprise that an upgraded basement is on the wish list for many Canadian home buyers. A finished basement is one of the easiest ways to increase the square footage of liveable space in your home. In some cases, a basement renovation requires digging down to raise the basement ceiling, which can be a huge undertaking. When finishing your basement, consider your daily needs versus valuable upgrades. Having a spare bedroom in the basement might not be a daily necessity, but creating a private space for an extra bedroom or office is a basement renovation with great ROI.

Don’t let the cost of a home renovation discourage you. With a bit of elbow grease and the right tools, you can tackle any home upgrade. Home offices are a great do-it-yourself renovation. Simply installing a floating desk or installing new crown mouldings can instantly transform a dead-end hallway or empty corner into a dedicated working space.

If you’re considering renovating your home, think green. Some upgrades you can make to improve your home’s energy efficiency include installing solar panels, replacing old windows and doors and upgrading to energy-efficient appliances. Not only will you see the long-term value in your home’s ROI, you’ll see the savings in the short-term too!

One of the most attractive features in a home? Having a laundry room on the same floor as the bedroom. After all, who wants to lug loads of laundry up and down stairs? If your older home has a basement laundry room, consider making this worthwhile renovation. All you’ll need is space with access to plumbing. A hallway or bedroom closet by a bathroom typically does the trick. If space allows it, beef up your laundry room renovation with a surface space for folding, a handwashing sink and open shelving for detergents and other products.

Mudrooms might not be the first renovation idea that comes to mind, but the functionality of a properly organized mudroom is a meaty value-add to a family home. Ensure your mudroom reno provides both open and hidden storage options and a spacious entryway with seating options for getting in and out of the home. Extra points if you can squeeze in a dog bath!

Floors may not seem like a statement-making renovation at first thought. But the value of beautiful new hardwood flooring will do wonders for your home’s overall look and feel, along with beefing up your house’s ROI. Opt for something classic (a herringbone pattern in a timeless shade never goes out of style). Whatever you choose should be able to evolve over time, adapt to different home design trends and always look beautiful.