Home renovations have taken the suburbs by storm. It seems that every either knows someone who has done a renovation, are currently working on one or are planning one. We live in the renovation era and doing a renovation can definitely give you the custom space you want in your home. It can also help increase your home’s value – that is – if you choose a renovation project that will add the most value to your home.
To help you choose a project that not only makes sense for your home, but will also provide you with the ROI you are looking for, we have put together a list of the top 5 renovations that will boost your home’s value:
1. An income suite: This is perhaps the best project for adding value to your home. If you have the space in your basement or have a home layout that makes it easy to add an income suite, it’s a renovation that will pay you back as long as you have tenants.
2. Kitchen Renovations: Kitchens are the king of renovations. As they say, kitchens sell homes, a reason why they are such a valuable renovation project. Plus, they are a room where you spend a lot of your time each day.
3. Bathroom Renovations: A great bathroom or master bath are always on the top of the list for home buyers, a reason why it’s a great renovation option and one that will add to your home value.
4. Fixtures: Sometimes it’s the little things that can boost your home value. Switching out accents pieces such as cabinet knobs, door handles, and other items can change the look and feel of your home.
5. Flooring: Flooring is one of the first things that people notice when they enter a home. Solid wood or high quality laminate are in demand and people are willing to pay to get it.