It’s always a good idea to renovate some rooms in your house if you are looking to sell. I want you to remember to SELL IT RIGHT, which means doing the upgrades and renovations properly for your homebuyer. It means staying away from “lipstick and mascara” fixes that are covering up major issues with the house. If you have wisely budgeted for bigger remodeling projects, here are some home renovations that will instantly add value to your home:
1) Outdoor Structures That Add Value To Your Home
Outdoor structures like decks, fire pits, and pools can bring a lot of extra enjoyment and usable entertaining space to our homes – but do they add real value to the resale price of our homes?
In some cases, yes, they do. In others, with the cost of construction and upkeep, you probably won’t ever recoup your investment.
I put a metal roof in my house that I renovated in Holmes+Holmes Season 1.
Fences:
A new fence will add more privacy and keep kids safe. It can also have an impact on your curb appeal. It can have a positive impact on the value of your home. Here are some tips for installing a fence.
Adding A Deck:
A deck is not a cheap investment, but it does pay off. You make your homebuyer feel like they have more usable space. Depending on the material, size, and scope of the project, you can see upwards of 80% of the price of the deck reflected in the new value of the home.
Fire Pit:
Fire pits are a nice, cozy way to increase the usability of your yard in the cooler months. This CAN add real value for potential buyers.
Swimming Pool:
While pools are great for enjoying the weather and hosting parties, you won’t see a monetary return on your pool investment once you factor in all the extra costs to maintain it. If you plan to stay at the home and enjoy the pool for years to come – take the plunge and talk to the pros at Leisure Pools. But it’s not a project worth taking on if you’re looking to add value.
Maintaining Your Outdoor Structures:
Even though they’re outdoor structures – you need to take care of them like they’re part of your main home. Decks, fences, pools, and fire pits all require regular maintenance to keep them safe and strong.
Replacing Garage Doors:
A garage door replacementis also a good idea and will cost you under $4,000.
Check out this Napoleon pit from Holmes and Holmes Season 2
Mike’s Tip: Use outdoor lighting to enhance your curb appeal. Here are some tips on using outdoor lighting in your house.
2) Will a Full Bathroom Remodel Add Value?
Bathroomand kitchenrenovationsare the most popularhomeimprovement projects. You can expect to recover 75% of your investment (according to the Appraisal Institute of Canada). Replacing an outdated vanity, old plumbing, and lighting fixtures or adding a new tile floor — will guarantee a lot of bang for your buck and give your bath an updated, modern look.
Subtle matte black accents create a simple, modern feel to the bathroom in Holmes Family Rescue.
If you are considering a full bathroom remodel, you will be looking at changing the flooring, the vanity, shower, tub, and toilet. Make energy-efficient updates, as they will be good for your home’s resale value.
Using KERDI-BOARD is brilliant because it creates a continuous line of moisture resistance, helping prevent mold issues. And a high-quality, uncoupling, and waterproof system below your tiles is also an absolute must if you want your renovation to last. I also like the idea of tiling the whole bathroom.
Choosing The Right Bathroom Fan
Proper ventilation is key to improving your indoor air quality. An easy way to calculate it is to provide one cubic foot per minute (CFM) per square foot of the bathroom. The minimum should be 50 CFM. If your bathroom measures 10 feet by 8 feet, you have 80 square feet and will want a fan rated for at least 80 CFM.
I am a big fan of the Panasonic ventilation fans. If you’ve watched my shows, you KNOW I hate noisy bathroom fans. The Panasonic bathroom fans are the brand we prefer.
Learn more about picking the right materials for your bathroom remodel
IMPORTANT
Do future proof your bathroom. You can add a shower bench and a curbless shower to show potential homebuyers that they can “age in place”.
We use the KERDI-BOARD on our Holmes and Holmes projects
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- PROS and CONS of a curbless shower
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3) Replacing Old Windows
New windows can freshen up the appearance of your home, and replacing existing windows with energy-efficient ones can save the homeowner a significant amount of money in heating and cooling costs. Drafty windows can turn off potential buyers. I just fixed a house in Holmes+Holmes where the homeowner had bad windows.
Here are5 Signs Your Windows Needs Replacing.
COST: Replacing the windows can cost around $10,000 at least (depending on the number of windows), but it’s one investment that you can make your money back. If you choose the most energy-efficient windows, it is possible that the installation cost will be offset by how much you save over time on your heating and cooling.
Here’s an old window that needs replacement from Holmes and Holmes season 3
4) Attic Insulation
Adding attic insulation will lead to cost savings as well as cut your monthly energy bills. This is undoubtedly attractive to potential home buyers. If they notice ice dams as they walk up to your home, that will be a red flag for them.
You’ve got a few options when it comes to insulating material, but whether it’s batt, blown-in insulation, foam board, or spray foam, you need to provide enough R-Value, or insulating value to keep the cool air from coming in.
COST: It will cost you between $1.50 and $5.50 per foot to insulate an atticdepending on whatinsulationmaterial you choose.
RELATED
- Read about 3 ways you can prevent heat loss In Your Home
- How Can I Find Air Leaks In My House?
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5) Roof Replacement
How do you know it’s time for a new roof? Take a look up – are your shingles buckling, curled, or missing altogether? That’s a sign it’s time to re-shingle.
Consider solar panels as well. Buyers may hesitate to have them installed themselves, but will be attracted to houses where the solar panels are installed already.
I like a metal roof – and it pairs well with solar panels because odds are, you won’t have to do a roof replacement before the lifespan of the panels’ end. As long as you choose your material carefully, have it installed properly, and choose a roofing system with a good warranty, you’ll have a good roof.
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6) Embrace Smart Home Technology
I am talking about smart devices like security cameras, smart locks, smart thermostats, and water leak detectors. This is an easy upgrade and market research indicates that homebuyers are looking for smart devices in a home for convenience, energy management, and enhanced security.
A Schlage Encode Smart Deadbolt is a great feature to add to your exterior door for convenience and security.
COST: You are looking at about $1,500 to purchase the basic smart home devices (smart thermostat, doorbell, leak detector etc).
7) Finishing Your Basem*nt
Finishing a basem*nt is not an easy task, but potential buyers consider the usable square footage of a home when shopping. A finished basem*nt is an investment that can add a lot of value to your home, but you will want to make sure that you’ve insulated it properly and protected it against moisture. Also, remember that you will need several permits for this job.
COST: The average basem*nt reno can cost you anywhere between $50-$90 a square foot, depending on your finishes and if you finish a bathroom. According to Remodelling Magazine, you can expect a 75% return on investment for your basem*nt renovation.
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8) Kitchen Remodel
A kitchen remodel, if done right, is sure to add to the value of your house. You will enjoy an even higher return if you are remodeling an older, outdated kitchen. This will include upgrading your cabinets, your stove and refrigerator, your flooring, and even your sinks and faucets.
Keep in mind that with an aging population—because Canada’s population is getting older—a kitchen’s functionality and accessibility are becoming more and more important. For example, lowered light switches, countertops, and cabinets can make it easier for someone older or with a disability to navigate around the kitchen if they are in a wheelchair. Cabinets installed with a hydraulic system can allow a homeowner to easily move them up and down, ensuring they’re accessible no matter your mobility level.
COST: The average kitchen remodel will cost you about $20,000-$50,000. If you upgrade all of your appliances, you are looking at between $6,000 and $12,000, depending on the make and model. According to Remodeling Magazine, you can expect to recoup over 80% of your investment.
WANT MORE TIPS?
Check out the episode below of Holmes @ Home to learn more!
Remember, the big investments in your house are bathrooms, kitchens, and decks. Therefore, if you put your money into renovating these areas, odds are you’re going to get it back—if you do it right.
A kitchen redesign is one of the major upgrades that you can add that are almost guaranteed to add value to your home. Read more about Upgrading Your Kitchen to Increase Value.
Smaller Projects To Increase The Value Of Your Home
If you are looking to tackle some smaller remodeling projects, these items will have a big impact on your resale value:
- A minor kitchen remodel like upgrading yourkitchen lights
- A coat of paint
- Updating your curb appeal
- Installing a water heater
I have created a list of 11 EASY home renovation projects to increase the value of your home. Check it out here.
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As an expert in home renovation and improvement, I've had the privilege of working on numerous projects and sharing my knowledge through various shows and publications. I've not only renovated homes but also taken the time to understand the intricacies of enhancing a property's value through thoughtful upgrades and renovations. In this article, I'll provide insights into each concept mentioned:
1) Outdoor Structures That Add Value to Your Home:
- Outdoor structures like decks, fire pits, and pools can indeed add value to your home. Their impact on resale value varies, but they can enhance the overall appeal and functionality of your property.
- Decks: Investing in a deck can yield significant returns, with potential value increases of up to 80% of the project cost, depending on various factors like materials and size.
- Fire Pit: A fire pit can provide a cozy outdoor space, especially during cooler months, making your yard more appealing to potential buyers.
- Swimming Pool: While enjoyable, swimming pools may not offer a monetary return on investment due to maintenance costs. Consider installing one if you plan to stay and use it long-term.
2) Full Bathroom Remodel:
- Bathroom and kitchen renovations are among the most popular home improvement projects, with a potential return of about 75% of your investment.
- Key elements of a bathroom remodel include updating fixtures, flooring, energy-efficient updates, and proper ventilation. Using moisture-resistant materials like KERDI-BOARD can prevent mold issues.
- Consider installing a bathroom fan rated at least 1 CFM per square foot to ensure proper ventilation.
3) Replacing Old Windows:
- Replacing old windows with energy-efficient ones can improve your home's appearance and save on heating and cooling costs. Drafty windows can deter potential buyers.
- Window replacement costs vary but can typically range from $10,000 and up. The installation cost can be offset by long-term energy savings.
4) Attic Insulation:
- Adding attic insulation can lead to cost savings and is attractive to potential buyers. Proper insulation prevents heat loss and the formation of ice dams.
- The cost of insulating an attic varies based on the type of insulation material chosen.
5) Roof Replacement:
- Replacing a damaged or aging roof is essential. Signs like buckling or missing shingles indicate the need for a roof replacement.
- Consider the longevity of your roofing material and its compatibility with solar panels if you decide to install them.
6) Embrace Smart Home Technology:
- Smart devices such as security cameras, smart locks, thermostats, and water leak detectors are attractive to buyers for convenience, energy management, and security.
- The cost of implementing basic smart home devices can be around $1,500.
7) Finishing Your Basem*nt:
- A finished basem*nt adds usable square footage to your home, which is appealing to buyers. Ensure proper insulation and moisture protection when finishing your basem*nt.
8) Kitchen Remodel:
- A well-executed kitchen remodel can significantly boost your home's value, especially if updating an outdated kitchen. Consider upgrades to cabinets, appliances, flooring, and accessibility features.
Smaller projects, such as minor kitchen remodels, painting, curb appeal improvements, and water heater installations, can also enhance your home's resale value.
Remember that the key to maximizing your investment is to plan and execute renovations properly, ensuring they align with market trends and the preferences of potential buyers. By focusing on these areas, you can make strategic investments that will likely pay off when it's time to sell your home.
