What Renos Add The Most Value?

If you’re hoping to sell your house in the near future, you may be considering doing some upgrades to increase its value. How do you know which renos are going to make your home more attractive to buyers and therefore more beneficial to you?

Remember: Just because you put $50,000 into a renovation it doesn’t mean you’ll get that (or more) back. You have to spend wisely and plan your improvements well.

Like we mentioned in What Renos Do NOT Add Value, in order for a renovation or upgrade to be worth it, the amount you get because of the reno needs to be more than what you put into it.

While there is no exact science to how much each reno adds, there are key areas that are smart places to where investing your money is most likely to see a good return.

Here are 6 Renovations That Will Add the Most Value:

1. Bathrooms:

There’s one thing you don’t want people to think when they walk into your bathroom: dirty. Even if a dated bathroom is cleaned, they still can seem dingy and dark. So, if you want to improve the value of your home, making sure your bathroom shows well is important.

What to do: A bathroom should feel as non cave-like as possible, and instead look clean and bright. You can install new light fixtures with high-watt bulbs and clean any windows to brighten the space up. New tile (white is usually a good bet) and a new glass shower door are both nice upgrades that buyers will appreciate. Also, adding a modern vanity (again, white is popular) will instantly refresh the look of the bathroom. Pedestal sinks make smaller bathrooms look more spacious. Then stage with new towels and some attractive décor items.

Tip: If your home only has one bathroom, adding another one will add value. It’s amazing the difference that even a small three piece bath will make. Like number of bedrooms, number of baths is a key thing buyers look at.

2. Hardwood Floors:

Buyers love hardwood floors! Adding REAL hardwood floors adds a lot of value to a home. Hardwood floors have away of making a space look much higher quality than they do with carpet. They look amazing and will hold up well over time. They are also easier to maintain, which is attractive to everyone.

What to do: Darker woods are popular, but it’s up to you what you think would be appropriate for the style of your home. Install hardwood running lengthwise to make the space flow well. If it’s open-concept, continuing it into the kitchen is best.

Tip: If you already have hardwood floors, you can save money (and still increase value) by refinishing them. Also, buyers place value on original hardwood floors, so it’s always ideal to salvage them.

3. Curb Appeal:

Important for establishing a good first impression, and in listing photos, the exterior of your home is what draws buyers in for a showing. If someone loves the look of the home from the outside, they are entering the home already wanting to love it!

What to do: Clean up any clutter or yard waste. Repaint the house if it needs it in a neutral colour. Consider power washing patios and walkways. Manicure grass and place simple plants and mulch in gardens. Stage any porch/patio areas with contemporary outdoor furniture and bright potted plants.

Tip: A cute welcome mat can make your property feel inviting and home-y before buyers even walk through the door. Also, replacing an old front door or painting your current one a "happy" colour (bright reds and some oranges for example) achieves the same effect. 

This neutral wall colour looks perfect. (Maybe save that red for the exterior though!)

4. Paint:

A fresh coat of paint immediately refreshes a home. Paint makes a home look newer, even if the room hasn’t been renovated. In the entrance and main living area, where buyers get their first interior impression, paint will be an easy way to invite buyers into your home.

What to do: Choose a paint colour that is on-trend with what buyers are looking for. Neutral tones are the best way to go. Look at soft greys, light and warm beige, or creamy white. For bedrooms and bathrooms soft blues and greys look great.

Tip: Don’t forget the baseboards and trim! If you go to the effort of painting the walls but have yellowed trim, it won’t look as fresh as it should. Paint the trim white, or leave some original dark wood trim if your home has it.

5. Kitchens:

Also called “the heart of the home,” kitchens are considered the most valuable room to buyers. They imagine weekly family dinners, Sunday morning breakfasts, and hosting friends on Friday nights. One thing most buyers like in kitchens is an open-concept layout where they can talk to people in other rooms or be able to watch their kids playing in the living room. So, opening up a kitchen is a good idea if you’re able to do it.

What to do: You can add new stainless steel appliances, quality fixtures, stylish cabinets, and granite countertops. Modern white cabinets are always a popular option. It will improve the value of your home significantly!

For more budget friendly options, you can (1) Install new hardware and cabinet knobs or pulls. (2) Reface/paint the cabinet doors and leave the rest of the original cabinets intact. It will cost less than replacing them all with new custom cabinets. (3) Or, look at standardized kitchen models that can be installed for less, like ones at Ikea.

Tip: Don’t go crazy with very high-end finishes. If you’re renovating a kitchen the money can add up quickly! So, choose quality fixtures and finishes but don’t add the most expensive backsplash, most expensive light fixtures, and so on.

Contemporary Industrial-style light fixtures are on trend.

6. Light Fixtures:

Dated light fixtures throw many people off when touring a home. They think about having to replace it, when the cost wouldn’t even be too high. Also, they can easily make a room look modern even if no big renos have been done.

What to do: Choose contemporary fixtures that are on trend. Don’t go too far by adding a huge or dramatic light fixture though. You want it to appeal to the majority of potential buyers. Sleek black, stainless steel, or glass fixtures look great. Also, don’t overspend and risk cutting into any profit. There are many more affordable options that will be perfect.

Tip: Install high-watt bulbs everywhere. Walking into a dark room is simply not inviting, whereas a well lit space is. Brighten up your home while showing every upgrade you’ve done in its best light!

Of course, it’s up to you what renos and upgrades you want to invest in when selling your home. Ask your Realtor for advice about what buyers in your area are looking for.