Invest in Your Home: Top 10 Renovations to Increase Your Home’s Worth

3 November 2017

A few weeks ago, I met with a young couple that had just purchased a fixer-upper. It’s their dream home ‘for now’, so they wanted to make sure that renovation dollars spent support the resale value in just a few years.

They had big dreams and specific tastes. So the first order of business was clarifying what home improvements increase the value of your home.

Here’s my top 10:

1. Update a kitchen and possibly add an island.

2. Take out walls in main living areas, including the kitchen, to create an open concept.

3. Develop the master suite with ensuite and walk-in closet.

4. Create a second bathroom.

5. Add a main floor powder room.

6. Expand and improve storage in the mudroom.

7. Develop the basement and include an extra bedroom.

8. Create an outdoor living space.

9. Refinish or install hardwood flooring throughout the main living space.

10. Improve the exterior curb appeal through exterior refinishing and landscaping.

These are, in my professional opinion, the top ten renovations to consider doing to your home. While others are good, especially if they are something you want, these are the most desired in the home industry.

The second question I get asked is how much these renovations add to your home’s value. However, trying to put a dollar amount to how much these improvement projects might add to a home is a difficult task.

I’ll tackle that question in my next blog. In the meantime, if you are thinking of selling in the next few years and are planning a renovation to support resale, please get in touch. I’m at alec@alecwilliamsconstruction.ca. I’d be happy to help.

Alec

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