Planning to renovate your home? Here’s what you need to know to maximize your return on investment.
If you’re working on a home improvement project – whether for you to enjoy or in preparation to put your property on the market – you may be interested to know which renos will give you the most bang for your buck.
A kitchen renovation is the most worthwhile home improvement and has the potential to increase the value of your property by 20% (Source: Royal LePage).
A kitchen is perceived as the gathering place and the heart of the home. When a potential buyer views a home for the first time, the one thing that will stand out – for better or worse – is what the kitchen looked and felt like. They may not remember the size of the bedrooms or the colour of the walls, but they will remember the kitchen.
Bathroom renovations can increase the value of a home by 16%.
Finished basements and basement apartments have the potential to increase a home’s value by 15%.
Outdoor entertaining space and landscaping have the potential to increase a property’s value by an average of 10%.
If you need help in deciding what is a worthy investment in a renovation project, talk to me!