When it comes to renovating your home for resale, there are a few major renovations that top the list.
1. Major kitchen remodels. (Return on investment 75-85%)
The function of the kitchen has evolved over the years and now more than ever the kitchen must meet those needs.
- Buyers want to imagine themselves in a beautiful, newly renovated kitchen where they can actually see themselves preparing meals for their friends and family, where the kids are snuggling on a comfortable stool doing their homework, or their guests mingling on that beautiful island. . Buyers want to see this in your mind and know that it is possible.
- A major kitchen remodel may need to include a new floor plan to improve a poorly designed work triangle.
- If your kitchen is completely outdated, isolated and compartmentalized with an inefficient floor plan and layout, don’t think that replacing cabinets and appliances will camouflage the problem. It will not!
- If possible, add an island to those plans. Everyone loves them!
- Replacing all cabinets, appliances, lighting, flooring, finishes, and fixtures, and new French doors and windows will capture the attention of buyers.
- Since kitchens and bathrooms are the most expensive rooms to renovate, the buyer will be pleased that the work is already done.
2. Family room extensions. (75% return on investment)
The family room is the second most popular space in the home after the kitchen.
- Adding 400 m2. foot of bright and cheery living space (if your neighborhood allows), it will definitely enhance the value of the home
- Increase the overall height of your space and introduce a vaulted ceiling. Creating a sense of volume instantly makes a room feel more spacious.
- Consider the details and add gorgeous French doors, floor-to-ceiling windows, or even skylights to flood this new space with light and maximize the view. Take it one step further and add the deck.
3. Addition of cover. (72-95% ROI)
Deck additions are possibly the best investments these days. They make a natural transition from indoors to outdoors, instantly expanding your living space.
And who doesn’t love that?
- It’s an in-home vacation experience as it expands your living space and extends the summer season, forcing you to live outside more before the winter season begins.
- Its design can be as simple or as elaborate as the house it is attached to.
- Multi-level or single, built-in seating or casual lounging areas, hot tubs and outdoor kitchens all add to the vacation home atmosphere.
- Covers are more popular than pools and relatively easy to build.
- Design the deck to complement the character of your home’s exterior architecture. Give it some thought in planning: it should be proportional to the size of your garden.
- It incorporates solar lighting or low consumption LED.
4. Master bedroom extension on main floor(73% ROI)
- Add a 400 sf. The en-suite master bedroom and spa-like bathroom provide a private retreat and attract many home buyers. Main floor access is gaining in popularity.
- Empty nesters and others, who no longer want to climb stairs, prefer the master bedroom and bathroom to be removed on the main floor level of the home.
- Immediate access to a beautiful outdoor deck or patio also adds to the return.
5. Addition of two floors (77% ROI)
- An 800-square-foot, two-story addition could include a new family room on the main floor and an upper-level master suite complete with a full bath
- Or using that extra space and designating it, like the home office, is very attractive to homebuyers.
- Homeowners are spending more time working from home and with the growing trend of entrepreneurs, buyers are attracted by the additional space dedicated solely to operating their business from home.