What Renovations have the Best Resale Value?

​    From small to large. Whether you are thinking about selling or just updating, these budget projects will increase the value of your home.​

 

  • Fixture Upgrades
    • New fixtures and hardware can have a big impact on the look of a space. Consider upgrades to bath and kitchen cabinets, towel racks, and door knobs.
    • Upgrade plumbing with low-flow fixtures.

 

  • Repaint
    • Changing wall colours can completely transform a space. Besides being one of the most easy and affordable renovations to accomplish it is also one of the simplest to alter later on.
    • No-VOC paint can be found in hardware stores.

 

  • Outdoor Areas
    • Another project to consider is making an outdoor living space such as a deck or patio. By adding to the livable space your home offers, the value of your house will increase
    • Try using salvage wood for a deck.
      • DECK ADDITION
      • Job Cost: $10,634
      • Resale Value: $8,573
      • Rate of Return: 80%

Need Landscaping Inspiration? Visit Here

  • Hardwood Flooring
    • Hardwood is the most sought-after flooring by home buyers. Depending on the size of the space, materials used, and labor hired, adding new flooring can be surprisingly affordable.
    • Bamboo or cork are both sustainable options.

Need Flooring Inspiration? Visit Here

 

  • Add Storage
    • Adding storage to your home is helpful to both you and the next homeowner. Options to consider include built-ins, pantries, walk-in closets, garage shelving, and wall benches that double as chests.

Need Storage Inspiration? Visit Here

 

  • Bathroom Remodel
    • Bathrooms are an important area to focus on as they are considered one of the most effective rooms to update. Especially popular are improvements to master suites, such as large showers or separate tubs.
    • Install flow reducers in the shower and sinks
      • BATHROOM REMODEL
      • Job Cost: $30,000
      • Resale Value: $22,500
      • Rate of Return: 75%

Need Bathroom Inspiration? Visit Here

  • Curb Appeal
    • A buyer gets their first impression from the exterior of your home so any improvements will be valuable. Consider adding new siding, an updated roof, or front door accessories
      • SIDING REPLACEMENT
      • Job Cost: $9,500
      • Resale Value: $8,265
      • Rate of Return: 74%
      • ROOF REPLACEMENT
      • Job Cost: $14,000
      • Resale Value: $10,360
      • Rate of Return: 74%

  • New Windows
    • Replacing old windows will both increase your resale value and decrease your utility bill. Keep in mind that customizing with fancy shapes won’t necessarily add any resale value.
    • New windows are energy-efficient
      • VINYL WINDOWS
      • Job Cost: $10,000
      • Resale Value: $8,400
      • Rate of Return: 84%
      • WOOD WINDOWS
      • Job Cost: $11,000
      • Resale Value: $9,350
      • Rate of Return: 85%

  • Re-purpose Spaces
    • Home buyers generally want to avoid doing major remodeling projects. By finishing spaces like atics and basements and converting them into functional areas you can significantly add to the livable square footage in your home
    • Install insulation to prevent heat transfer
      • BASEMENT REMODEL
      • Job Cost: $55,000
      • Resale Value: $43,450
      • Rate of Return: 79%
      • 2nd STORY ADDITION
      • Job Cost: $110,000
      • Resale Value: $91,300
      • Rate of Return: 83%

Need Basement Inspiration? Visit Here

  • Kitchen Remodel
    • Many experts categorize kitchen remodels as the best to bost your home’s value. Valuable points to upgrade are counters, cabinets, and appliances. More affordable options include changing out the backsplash, paint colour, hardware, and lighting
      • MAJOR KITCHEN REMODEL
      • Job Cost $55,000
      • Resale Value: $45,650
      • Rate of Return: 83%
      • MINOR KITCHEN REMODEL
      • Job Cost: $18,000
      • Resale Value $15,480
      • Rate of Return: 86%

Need Kitchen Inspiration? Visit Here

 

 

 

SOURCES:

http://www.getmyhomesvalue.com/home-resale-value

http://www.smartmoney.com/personal-finance/real-estate

http://www.nolo.com/green-remodeling-eco-friendly-home

http://greenlivinglifetips.com/building-and-remodeling/index

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Kylie Rohr

Kylie Rohr

Sales Representative
CENTURY 21 Home Realty Inc., Brokerage*
Contact Me