The Most Profitable Renovations


Some renovations increase the value of your property. Here are five of the most profitable upgrades.

1. KITCHEN AND BATHROOM

The kitchen and bathroom are still the rooms that most often add the greatest value to a property. Well-planned renovations, such as replacing or adding a backsplash, can enhance the look of the space. Focus on maximizing storage. In the kitchen, islands remain highly popular. In the bathroom, consider a separate bathtub and shower.
There is no need to go for high-end purchases. Stick to classic faucets and lighting fixtures. In bathrooms, don’t forget to use moisture-resistant paint finishes.
A partial or full kitchen renovation will generally return about 75% to 100% of the investment*.

2. INTERIOR AND EXTERIOR PAINTING

Painting is a low-cost renovation with an excellent return on investment. Choose light, neutral tones with a matte finish. If possible, hire a professional painter. This type of work can return 50% to 100% of the investment*.

3. WINDOWS

If cold temperatures make your home uncomfortable or you notice signs of moisture on the windows, it may be time to replace them. Quality windows are not only aesthetic; they also prevent heat loss and improve energy efficiency. For an even better effect, choose window coverings that allow natural light in. Window replacement can return 50% to 75% of the investment*.

4. FLOORING

Good-quality flooring adds value to your property. While floating floors are cheaper, they are less suitable for main floors. Prefer solid wood and higher-end materials. Above all, avoid wall-to-wall carpeting throughout the home. Flooring replacement typically returns 50% to 75% of the investment*.

5. THE BASEMENT

Whether you are creating a guest bedroom or a family room, a renovated basement remains a profitable investment. Make sure the style matches the rest of the house. Depending on the quality of materials used, the average return is between 50% and 75%*.
Finally, to make the most of your improvements, renovate for yourself first, not solely with future buyers in mind. Most importantly, keep all receipts for your projects—they will be useful to document improvements made over the years.
*Percentage of costs you may recover when selling your home
Source: centris.ca
 
 
 
 
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Serge Sirois
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