Top 5 Home Renovations to Increase the Value of your Home

February 11th, 2014  |  Home Insurance

With spring slowly but surely getting closer each day, there are many homeowners across Ontario getting ready to list their home and put it up for sale. Part of getting your home ready involves investing in the right home renovations to make your home more appealing and increase its value on the real estate market. However, there is this misconception that anything that you do to upgrade your home will increase its value and make it more attractive to potential buyers.

The truth is that while upgrades and renovations generally do help and can help to increase your home’s value, if you want to get the most bang for your buck when it comes to renovations, you need to invest in home renovation that will provide you with the best possible return on your investment. Some renovation projects are better than others. Some of the best options are outlined here:

Top 5 Home Renovations to Increase the Value of your Home

1. Kitchens: As they say, kitchens sell homes. If you are going to invest in a significant home renovation, redoing your kitchen is one of the safest investments and it will yield the biggest return. Everyone loves a great kitchen.
2. Bathrooms: Updating your bathroom is another safe bet if you want to increase the value of your home. Doing things like updating the vanity can go a long way.
3. Finishing your basement: This is a particularly good investment if your home is lacking in square footage. Finishing your basement and adding another bedroom, bathroom, and more living space will definitely help when it comes time to sell.
4. Landscape: Boosting the curb appeal of your home is a great way to not only increase your home’s value, but to also attract more potential buyers. Remember, the first thing they will see is the outside of your home and a well-kept yard will give a good impression.
5. Paint: It is amazing what a little paint can do to improve the overall look and feel of your home. Considering it is relatively cheap when compared to other renovation projects, you will have no trouble getting a good return on your investment in a painting project, especially if you do it yourself.

Don’t perform a renovation “just because” or you think it will be more attractive to buyers. Take the time to look into a renovation project and talk to your real estate agent before you start or you could be wasting time, effort, and money. 

Are you planning on selling your home this spring? If so, are you planning a renovation project to increases its value? What project are you working on?