Renovating your house can be a great way to get more enjoyment out of your home and increase the resale value. Not all renovations will make your home worth more so if you are renovating for that purpose, you need to choose your projects wisely. Check out my best advice on which renovations will increase the value of your home.
Kitchen
You had to know that kitchens would be at the top of the list! Updating your kitchen is one of the most time-tested ways to increase the value of your home. Some different things you can do in your kitchen include:
- Having your cabinets professionally refinished;
- Installing new granite countertops;
- Updating the flooring;
- Installing an under mount sink;
- Updating to new, energy efficient appliances.
Bathrooms
Bathrooms are typically small spaces that can pack a big punch! You can easily upgrade your bathrooms by:
- Installing updated fixtures,
- Installing new countertops,
- Resurfacing bathtubs,
- Adding more storage space.
Appliances
Purchasing new appliances to increase the value of your home must always be done prudently. If your current appliances are not very old, then your money might be better spent elsewhere. Here are some guidelines to help you get the most bang for your buck if you do decide new appliances are the right choice for you.
- Look for well-reputed, energy efficient appliances.
- Buy matching appliances.
- Stay away from top of the line budget busters since luxury appliances rarely provide a significant return on investment.
Flooring
Having new coordinated flooring throughout your home can definitely add value. When making this investment, consider the following tips to make sure it is worth it:
- Select high quality, durable flooring options;
- Stick with neutral colours and styles;
- Install easy maintenance flooring;
- Whenever possible, carry the selected flooring throughout the house to create flow and a sense of continuity.
Furnace and hot water tank
If your furnace or hot water tank are due for replacement within a year or two, consider buying them now to help increase the value of your home when you sell. Buyers always appreciate not having to spend more money immediately upon moving in and they will definitely see the value in this investment. When selecting a new furnace or hot water tank, be sure to look for energy efficient models and trusted brands.
Eco-friendly upgrades
Eco-friendly upgrades and renovations are quickly becoming another way to increase the value of your home and can have a good return on investment. The most reliable and profitable eco-friendly renovations are those that offer long term savings on utility and energy costs.
Exterior
The outside of your home is a great place to make a profit on your renovation investment. Depending on the age and condition of your home, you might consider one or more of the following renovations:
- New roof,
- Foundation repairs and improvements,
- Building a garage or deck,
- Hard landscaping projects such as retaining walls or pathways.
There is no single tried and true recommendation for which renovations will increase the value of your home since there are many factors that need to be taken into consideration including budget, the age and condition of your home, and current market conditions. Regardless of which renovations you choose, the most important thing you can do is hire a reputable, proven contractor who will get the job done correctly. To find a contractor in the Calgary area, check out Who To Call Calgary, an online resource designed specifically to connect homeowners with reputable local home service businesses.