Renovations not only offer you the opportunity to enjoy your home more but also increase resale value by tens, sometimes hundreds, of thousands of dollars. Through the pandemic, the cost of renovations has off-put and set back homeowners from completing projects around the house. You know that you’re going to get a great price for your property so why put in the extra effort, time, and money to make improvements? Even with the market still heavily in favour of sellers, if you’re planning to sell, completing renovations before listing your home for sale is a great way to maximize your home’s value.

Prioritizing your renovations on a home you plan to live in versus a home you’re planning to sell are two very different lists. For living your day-to-day life, prioritizing renovations that improve the functionality of your living space for the way you and your family use your home makes the most sense. But if you’re hitting the market, it’s important to prioritize the renovations that will have the biggest impact on your bottom line.

Here are the top three renovations and home improvements to focus on if you’re updating and renovating to sell your home in a seller’s market:

kitchen with large window dark cabinet quartz counter top

Kitchen Renovations

The kitchen is often referred to as the heart of the home. Over time, kitchens have transformed from only being a place to prepare meals to be a focal point of our homes, somewhere we sit to eat breakfast, and gather with a glass of wine in hand when friends come over for a night of socializing. Functionality is important, but so is style. The number one way to add value to your home is to update your kitchen. This includes appliances, countertops, lighting fixtures, flooring, and more.

While kitchen renovations can be expensive, if you’re looking to add the most value to your home start here. The return on your investment will be substantial, often two or three times the cost of the renovations.

modern updated bathroom mosaic tile glass shower large tub

Remodel Bathrooms

Beyond the typical use of a bathroom, often times our bathrooms become a place of retreat. Somewhere to hide away for a few minutes, take a long hot shower to relax, or enjoy the peace of the morning before starting a busy day. Another costly update due to the importance of hiring a professional plumber to ensure all the plumbing is in good shape, however the return on your investment will more than make up for the expense. When renovating a washroom, prioritize great lighting and functionality. 

There are plenty of ways to improve the appearance of a washroom while keeping its intended use front and center. Solid heat-resistant counters, an open concept, and lots of lighting will help improve the appearance of dated bathrooms.

energy efficient smart thermostat update house

Energy Efficiency

There are many updates that fall into this category and no matter what you do, you’re likely to get more than your money back for the work you put in. Energy efficiency is a hot topic in the media and also in households as families look for any cost-saving measures with the increase in utility prices. Some energy-efficient updates you can make to your home include lighting, HVAC, new insulation, windows, and roofing. These updates will save money on monthly utility bills.

While many appliances also fall under the energy efficient upgrade category, focus on the core structure of the home when determining where to spend money on energy-saving renovations and updates to your property. It will help you get the most money back come sale time.

There are many ways to add value to your home, some are a lot more expensive than others. If you are planning to sell your home and renovate to get the most money for the sale of your property, it is important to prioritize what will yield you the best results in the long term. Kitchens, bathrooms, and energy efficiency have the highest likelihood of adding significant value to your property.

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