Home renovations are a great way to make a space your own and add long-term value when it comes time to sell. Those little extras help your home stand out and grab attention in any market. But not all upgrades are created equally when it comes to adding value to your home! These 5 renovations will add to your home’s value when it comes time to sell.

Questions to Ask Before Renovating Your Space

1. How long do you plan to be in the house? More extensive renovations make sense if it’s your forever home, but simpler solutions are best if you only plan to be there for a few years.
2. How much do you use the space? If you spend a lot of time outdoors in the summer, investing more money in a new deck or patio may be a great investment. But if you rarely step outside, you’re better off improving the interior of your home.
3. What is a need, and what is a want? Structural fixes and major repairs should always come before aesthetics.

Focus on Curb Appeal & Outdoor Spaces  

Potential buyers start forming opinions about your home as soon as they pull into the driveway. A few upgrades, such as a fresh coat of paint, levelling uneven pathways, painting doors and windows, or adding landscaping elements like trees or shrubs, go a long way. You want to catch the eye of potential buyers as soon as possible and stand out from other properties on the market.

Stunning outdoor spaces are quickly rising on the list of must-haves for home buyers. Adding a fire pit, a new deck, fencing, upgraded lighting, or new gardens significantly impact your yard. Renovating outdoor areas to create your own little oasis is a great way to increase the value of your home.  

Renovate your kitchen

Kitchens are one of the most used and essential spaces and are high on the list of home buyers. Kitchen remodels have one of the highest returns on investment. When choosing what changes to make, think about how long you will be in the space. Do you need new cabinets, or can you reface or paint existing cabinets? What updates will have the biggest impact? You want to strategically invest where it will make the biggest difference to your quality of life NOW and the home’s value when you sell.

Countertops, flooring and energy-efficient appliances help give you the updated look that buyers are searching for. Lighting also plays a significant role in the kitchen; adding new light fixtures is a cost-effective way to add impact. Also, look at little touches like the hardware and sink fixtures.  

Boost energy efficiency with new windows & insulation

Many buyers will consider when they would need to replace windows when searching for homes. Replacing old, drafty windows with energy-efficient models is a great way to drive up your home’s value. It adds to the curb appeal, and buyers will also recognize the cost-savings in the heating bill each month.  

Consider adding extra installation as another layer of protection. Keeping a home comfortable, reducing energy use, and lowering heating costs, are all bonuses for potential buyers.

It’s also a good idea to embrace innovative technology when considering energy efficiency. Things like smart thermostats, leak detectors, and smart sprinkler apps are simple upgrades. Modern buyers are looking for these devices for convenience and energy management.

Update your bathrooms

Updated bathrooms are also high on home buyers’ wish lists. As with all renovations, your investment return depends on the work you put in and the total cost. If your bathroom is outdated and has signs of wear, a remodel will go a long way to increasing the overall value of your home.

If your bathrooms are already in pretty good shape, an updated light fixture and a fresh coat of paint may be all you need when it’s time to sell! If all your washrooms need a facelift, it’s best to prioritize the master bath and main floor powder room.

Finish the basement

A finished basement can add value to your home by increasing the usable square footage. (We all discovered the value of extra space when we were stuck at home during the pandemic!) but it’s a big project to undertake. If you plan to be in the house for a few years after you finish the remodel, it can certainly be worth it.

But if you will be ready to sell soon, there are other more cost-effective updates you can make when getting your home ready to sell. Some buyers will consider an unfinished basement a plus because they get to finish it to meet their needs.

When deciding whether to renovate your home, your priority should be how much it will impact your quality of life while you’re still in the space. There is no one-size-fits-all answer to what areas of your home you should invest in. Looking at your home as a whole is always a good idea. What areas would hold you back from making an offer if you were a buyer? Prioritizing the spaces that will have the most significant impact on the overall look of your home is always the best way to go.