Whether you’re planning a home renovation project to make it more comfortable and functional for immediate use, or to increase the value of your home for future resale or refinancing, it makes the best money-sense to consider what the return on investment will be for each remodeling project you choose to tackle.
We know that the budget drives most decisions when it comes to major home renovations. So before you choose those custom finishes and incorporate every item on your dream house wish-list into your remodel, let’s make sure you have a solid understanding of what renovations yield the highest return for your money and add the most value.
Here’s our list of top interior renovations to give the most value to your home.
Remodeling the Kitchen
We’ve all heard it said that “kitchens sell homes”. It’s also where poor design and flow can really affect the functionality for your family’s needs several times a day. So starting with a kitchen remodel is a natural choice for those wanting to add value to their home, both to enjoy now and for re-sell value. HGTV suggests that you can make back 60-120% of the money you invest in a kitchen remodel if your choices are “within reason.”
A good rule of thumb: never make your kitchen fancier than the rest of the house, or the neighborhood.
Function vs. Facelift
If your kitchen isn’t functioning well for your family, doing a kitchen facelift will not solve your problems, no matter how fancy you go with new cupboard doors, sink, hardware, and countertop. Think about how you’re using your space at the moment and where your “hiccups” occur each day. Do any of these common kitchen painpoints sound familiar?
Do any of these common kitchen painpoints sound familiar?
- Too many or not enough cupboards
- Small appliances taking over the counter space or stored in other rooms
- Tech gadgets + recharging cables getting in the way
- Pantry storage currently in the basement or garage
- Work and school clutter on every kitchen surface
- Recycling, compost and garbage cans inconveniently placed
- Not enough natural light in the kitchen
By working with a professional home remodeller, you might be pleasantly surprised at the changes that can be made to your existing kitchen to make it more suitable for your lifestyle. A kitchen with functionality and flow will have an impact on other rooms of your house as well, when everything has its proper place. Investing in the heart of your home makes good money-sense for increasing your home’s value for your immediate pleasure, and for future resale price.
Windows
By adding a new window, enlarging or changing the orientation of an existing window, or upgrading old windows that are outdated or inefficient, window homeowners add tremendous value to their homes in terms of natural light, energy efficiency, and ambiance.
Depending on the structure of your home, a window can be added to just about any outside wall and can dramatically change the feel and even the purpose of a room.
Imagine what these spaces in your home would feel like with a window added or enlarged:
- Under cabinet windows in your kitchen or a wide open view above the kitchen sink
- An unused closet transformed into a reading nook or plant sanctuary
- A bright front entrance with door side panel windows
- Dining room sliding door updated with french doors that swing wide open
- A clean laundry room or mudroom with natural light and fresh air
- A cozy fireplace flanked by natural light
Professional contractors with an eye for design can help you add or update your windows so that they bring value to your home in terms of immediate energy savings, enjoyment of natural light and airflow, and making your space more appealing for future buyers.
Bathroom Addition
Homes with only one bathroom are at a serious disadvantage for listing price and also for bottlenecks during the morning rush, right?! A smart remodelling project to consider is adding a second bathroom: HGTV estimates that you can recoup 80%-130% of whatever you spend by adding a bathroom.
Can’t picture where another bathroom could go in your home? A professional contractor will be able to point out underutilized spaces that are suitable for a bathroom conversion. Spaces that are commonly transformed into washrooms include:
- Closets
- Small bedrooms
- Office space
- Basements
- Laundry rooms
- Under the stairs
The same rule of thumb applies to washroom updates as for kitchens: never make your bathroom fancier than the rest of the house, or the neighborhood. And don’t forget to consider function as well as a facelift.
Would your life be better if you added these functional features to your bathroom remodel?
- Dedicated hair dryer outlet and storage
- A hardwired heated towel rack
- Heated flooring
- Make-up lighting
- Efficient ventilation
- Gadget and tech storage and charging stations
Reinventing a Room
Similar to finding space for an additional bathroom, sometimes the best remodel to undertake in order to add value to your home is re-imaging a space for an entirely different purpose. A broom closet might be better situated for a pantry or vice-versa. That extra linen closet opening into the hallway could be turned into an interior bedroom closet, or the other way around. Spare bedrooms, underused offices, basements, attics, storage rooms – the list goes on. And with the help of a professional remodeller, you might be surprised at the hidden opportunities waiting to be transformed in your home, adding value for your family and future buyers.
Renovations solve problems, they shouldn’t cause them
When you’re ready to undertake a remodelling project in your home remember your original goals: increasing the appearance, functionality, and/or value of your home. By being smart about what rooms to invest in, and keeping your choices consistent with the value and “feel” of the other rooms in your house, your renovation can add immediate value for your family, and bring you a higher selling price when the time comes.
