All home renovations require planning, patience, flexibility and money. But if you’re strategic about where you put your time and resources, you can get a great return on your investment. Here are 8 renovation suggestions that can pay for themselves by increasing your home’s value.
Bryan Baeumler is one of HGTV Canada’s go-to contractors and the host of Island of Bryan, Bryan Inc., House of Bryan and Leave it to Bryan.
Published March 18, 2019, Updated March 22, 2020
Minor Kitchen Remodel
Minor updates in your kitchen can increase the overall value of your home. I suggest painting wood cabinets, swapping hardware or replacing old countertops. A kitchen renovation can be very expensive so if a buyer can hold off on doing one for a few years, they will be willing to spend more upfront.
Related: Bryan Baeumler’s 10 Simple Kitchen Updates That Cost Less Than $100
Deck Addition
It’s not only about the inside when it comes to the value of a property, ensuring there is ample outdoor living space can also be a big factor. With a simple design, lumber and some nails or screws you can create a space that extends the entertaining area of your home – and its resale value.
Bathroom Updates
Completing a few strategic updates in the main bathroom of your home can be an easy way to add value. Bathrooms can show a lot of wear and tear where water penetrates – I suggest scrubbing grout back to white and replacing caulking to make it look fresh. If your fixtures are rusting or dated, consider new cost-effective solutions.
Hardwood Floor
Swapping out old carpet or laminate for engineered or solid hardwood is a relatively simple update. Updated flooring offers a high-impact, visual investment that a person can see, feel and experience. It’s often something the buyer is willing to pay more for.
Landscaping
A manicured yard will set your property apart from the competition. Curb appeal is often overlooked by homeowners but it is crucial when creating a first impression for potential buyers. Investing in trees, gardens or your lawn will lead to a quicker sale with a happier buyer.
Fireplace
Including a fireplace in your main living area, basement or bedroom adds an additional heat source that also contributes to the look of a space. This project requires electrical, framing, drywall and usually some tiling or woodwork but overall is an easy add. Strategically placing the fireplace and including high impact finishes can guarantee that you get every dollar you put into this feature back on your investment.
Replace Dated Appliances
New appliances can be a selling feature of any home as they are a big expense that get a lot of use. Updating top-loading washers and dryers to front-loading and swapping out a loud dishwasher for a quiet one can help set you ahead of the competition.
Replace Roof Shingles
Replacing roof shingles is expensive, but any educated buyer is going to ask how old the roof is. Roof shingles are replaced approximately every 15-20 years and are essential in protecting the contents of your home. An old roof is susceptible to leaks, drafts and can cause a lot of problems when ignored. A home with a new roof can give a potential buyer peace of mind and put more money in your pocket.
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