As of 2021, the average Home price in Canada is over $700,000. For many people, this has served as a large obstacle to overcome.
For others, it has proven to be a great investment opportunity. Regardless of how much you pay for your home, there are certain home improvement projects that can help increase resell value.
We've put together a brief list full of the best home improvements you can make. Let's take a closer look.
1. Kitchen Renovation
The kitchen is often considered the heart of the home, so it's no surprise that a kitchen renovation can have a big impact.
Whether you choose to upgrade your appliances and countertops or completely gut the space, any investment in this area should pay off when you resell. Common renovations include adding new cabinets and hardware, updating the flooring, and changing the lighting.
This is especially useful for kitchens that have an outdated look. Modern appearances are often more appealing to buyers.
2. Bathroom Remodel
When people view potential homes, bathrooms are usually at the top of the list when it comes to areas of concern. A bathroom that is too small or outdated could make it home more difficult to sell.
However, making a few simple updates can have an immediate impact on its value and resale potential. Replacing old fixtures and updating the style are great ways to improve a bathroom with minimal effort.
You should also consider adding a half-bath or features like heated floors, walk-in showers, and soaking tubs.
3. Garage Conversion
Not everybody parks their car in their garage. Many of those that do also have extra space to work with. Converting garages into additional living space is a great way to add value to your home.
You could use the extra square footage for an office, bedroom, or even a game room. This also works especially well in older homes that lack built-in closets and storage areas.
Garages also make great spaces for home gyms or workshops.
4. Adding a Deck
For those who have the space for it on their property, adding a deck is one of the best renovations you can make.
Not only does it provide extra outdoor living space, but it also boosts the curb appeal of your property. A deck is also quick and easy to install compared to other home improvement projects.
Features like railings or lighting can help increase its visual appeal. Decks can serve as a great method for entertaining guests or enjoying the outdoors.
5. Energy-Efficient Windows
Traditional windows can be a source of air leaks and energy loss. Replacing your windows with energy-efficient models provides added comfort and reduces your energy bills. Energy-efficient upgrades are also an attractive feature to potential buyers, as they won't have to install these upgrades themselves.
It's worth noting that reducing your energy bills will also help reduce your carbon footprint.
There are countless opportunities to make your home’s exterior more attractive.
Elements like outdoor lighting, walkways, and flowerbeds are an easy way to increase your property's curb appeal. Consider adding trees or shrubs that can provide shade in the summer and protection from harsh winter weather.
If you have a sizable yard, consider creating a garden or outdoor living space. These are all great ways to boost the value of your home and make it more appealing to potential buyers.
Even if you only have a small amount of space to work with, there are many options to spruce up your property. These can include planters, seating areas, and small water features.
7. Basement Remodel
Homeowners have a large amount of potential when it comes to updating their basements.
From strengthening the walls and floors to adding insulation, there are numerous ways to improve this area. Doing so is a great way to add extra living space and make use of unused square footage. Common renovations for a basement include finishing walls, adding heating and cooling systems, installing waterproofing materials, and upgrading the lighting.
It's not uncommon for people to take things a step further. To clarify, some homeowners convert their basements into special areas, such as an entertainment room, a home office, or even an extra bedroom. These renovations can add considerable value to your home.
For example, there's a large difference between a home that has a traditional basement and one that has converted the basement into a home theatre.
8. New Front Door
Although simple, replacing your front door can do a lot for the overall look and feel of your home.
Not only does it add curb appeal, but it also provides increased security and energy efficiency. This is because modern doors have better locks and insulation than older models. When shopping for a new door, consider the style, material, and weather sealing of each option.
If you are looking to make an upgrade on a budget, look into painting or staining your existing door instead of buying a new one. This way, you can enjoy all of the same benefits without spending a fortune.
This can also serve as a great afternoon project that you can enjoy with a friend or family member.
9. HVAC Upgrades
Many people overlook their HVAC systems when it comes to renovations. However, they can have a huge impact on the energy efficiency of your home. Upgrading an outdated air conditioning unit or furnace will save you money on your monthly bills.
It also reduces the amount of carbon dioxide emissions released into the atmosphere.
This is a result of it using less electricity and natural gas while running. It's worth noting that new models are quieter than older ones, which means less disruption to your everyday life.
A newer unit often comes with several features that increase energy efficiency and reduce wear. This can help extend its lifespan, saving you even more money in the long run.
10. Smart Home Technology
When it comes to modernizing a home, smart technology is one of the most popular options. Smart home automation systems can increase comfort and convenience while also providing security.
These systems enable you to control nearly every aspect of your home with your smartphone. As an example, these systems could include automated lighting, climate control, and extra security features (such as remotely locking doors).
Smart home technology is a great way to monitor energy usage and water consumption.
11. New Roofing
This is one of the more expensive items on the list.
However, a new roof can have a huge impact on the value of your home. It helps to protect your house from weather damage, making it one of the best investments you can make.
When choosing a new roofing material, there are several factors to keep in mind. These include longevity, cost, energy efficiency, and aesthetics. Regardless of what you choose, the installation must be performed correctly and meet all building codes.
How Do I Get Started?
The majority of home renovation ideas are possible to handle on your own.
Not everybody has the experience, skills, or tools required, though. You also run the risk of injuring yourself during the project.
The best way to get started on your renovations is to hire a professional contractor. They can help you assess what needs to be done and provide an estimate for the cost. It's also important to do your research and find out which materials are best suited for your project.
When searching for a professional, consider their past reputation. You should take a look at customer reviews and get quotes from a few different contractors.
This will help ensure you find the most qualified person for the job.
Before you move forward, come up with a list of ideas for the renovation project.
You can then prioritize the list based on budget and time constraints. Your contractor will also help you determine which projects would be best for your home. For example, it might not be worth remodelling your basement if there isn't much space to work with.
Prioritize These Home Improvement Projects
Coming up with the best home improvement projects might seem complicated at first. Be sure to keep the above guidelines in mind so you can make the best decision for your property. From here, you will be on your way toward maximizing your home's resale value and improving your quality of life.
Looking for more information on how we can help? Feel free to get in touch with us today to see what we can do for you.