AUGUST BLOG: WHICH RENOVATIONS ADD THE MOST VALUE TO YOUR HOME!

(image from Elora Real estate)


Hi Readers.. 

I recently did a poll on Instagram to get an idea of what topics, supports and resources my readers needed. The poll was fun but very strategic, results showed that most of you are wanting to purchase a home or currently own one and would like to know more about how to increase and enhance their investments. 

Today, I will stick with the home content (popular demand) and discuss what renovations add the most value to your home.

According to the Appraisal Institute of Canada (AIC), the top four renovations with the highest return on investment (ROI) include:  

  • Updated kitchen: The kitchen is almost always the heart of the home, so it's no surprise that kitchen renovations consistently provide the best return on your renovation investment. 

  • A sparkly bathroom: Bathroom renovations are also very reliable when it comes to boosting the overall value of your home. 

  • Fresh painting: Whether it's inside or outside, a fresh coat of paint can work wonders on the overall impression of your home. 

  • Refreshed decor: Updating lighting and plumbing fixtures, counter tops and kitchen hardware, replacing worn flooring or refinishing hardwood floors are also definite winners. 

The AIC also lists finishing the basement, garage improvements, decks and fences, and landscaping as the top renovations that generally offer the highest enjoyment value. 

I hope you all think about these renovations and incorporate them into your home when you decide to sell! Buying a new build really did help me avoid having to do any renovations but I'm sure when I'm ready to sell my home in a few years understanding what renovations have the highest return will be priority. 

Even though I am not looking to sell anytime soon, I've taken the time to still think about what parts of my home can make me more money. For example, we have chosen to complete our basement, have a separate side door entrance and more in order to make the home appealing to buyers in the future. 

Thanks for reading! 

-Coll