Whether you’re thinking about selling your home now or in the future, home renovations can boost the value of your property. A beautifully renovated home will attract potential buyers, and you’ll love living in it in the meantime. Here are some home renovations that have a good return on investment and that will greatly increase your home’s resale value.
Kitchen Renovations
It’s all about the kitchen! When a potential buyer checks out your home, either online or at a showing, the first room they’ll want to see is the kitchen. A clean, functional and updated kitchen will not only attract buyers, it will also raise your resale value. According to the Remodeling Magazine’s Cost vs. Value report for 2023 a minor kitchen renovation will recoup over 80 per cent of it’s original cost.
You can save money on your kitchen renovation, increasing your return on investment, by choosing to reface your cabinetry rather than replace it, refresh your countertops with quality laminate that mimics the look of natural stone and installing a mid-price sink and faucet. Repaint the trim, walls and replace your flooring with a durable, long lasting flooring material.
Main Floor Renovation
A main floor renovation can range greatly in price, depending on the size of your home and the material choices you make. It will cost more if you desire structural changes, but a main floor renovation doesn’t have to break the bank. If you are happy with the layout of your space, some cosmetic upgrades can be enough to completely rejuvenate your main floor.
New flooring is a great way to change the look of the room, especially if your current floors are worn out or dated. Combine that new floor with a fresh coat of paint and modernized trim and mouldings, and your main floor will look like a show home. Interior designers can help you create a main floor renovation design plan that will suit your personal taste and add value to your property.
Exterior Renovation
What your home looks like on the outside makes a big difference in regards to property value. Any professional realtor will tell you that curb appeal is one of the most important factors to consider when putting your home up for sale. Plus, having a new exterior will make your home more welcoming to you while you’re enjoying living there.
Paint or replace your worn-out siding and trim. Consider building a deck addition and if your fence is looking worse for wear, consider replacing it entirely. All of these things will increase your property value and personal enjoyment of your home as well. Home renovation companies can give you the exterior home renovation of your dreams, completely modernizing your existing home.
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