7 Home Improvement and Renovation Ideas that Increase Home Value

Many home improvement projects fail to add any value to your home, especially in a down market. In fact, some upgrades can even hurt the asking price when you decide to sell. On the other hand, some projects can add significant value to your home.

Below are some useful ideas for home improvement projects.

7 Ideas that Add Value to your Home

Many projects can add value to your home, and improve the quality of your family life. By working on these projects now, you can reap the benefits of these improvements, and if you do green work, you can also begin to recoup your investment through state schemes or tax exemptions.

Kitchen Renovation

Most people consider the kitchen to be the heart of the home, and for this reason, updating this room is a good investment. Indeed, you can expect to recoup 60% to 120% of your investment in a kitchen renovation, provided you don’t go overboard. You should never make your kitchen fancier than the rest of the house.

Addition of bathroom

If your home only has one, you can recoup much of your investment by adding another bathroom. You can recoup 80% to 130% of what you spend on adding a bathroom when selling.

When it comes to finding room in your home for an extra bathroom, take a look at extra rooms or underutilised spaces. Also consider other spaces, such as closets or areas under the stairs. If you want a half bathroom, you need at least 1.5-2m². If you want a full bathroom, including a stand-up shower, you need at least 3 square meters. If you want a bathtub, make sure you have at least 3.5m² for a bathroom addition. Like any project, the cost of adding a bathroom largely depends on the types of additions and accessories you want to use, and the cost of each of these items.

Reinvent a Room

Adding more square footage to your home with a new room can be an incredibly expensive project. Although you may recover some of your investment, between 50% and 83%, the costs of this project can quickly spiral out of control. Reinvent existing space in your home to save money. Finish a basement or convert the attic into a bedroom. Many owners can also add small apartments in or above their garage with exterior access, which they can then rent out as a room or studio for students or seasonal accommodation. Before tearing down walls and rafters, try to think about how you, and potential buyers, can use the space:

Basements often work well as second living rooms or playrooms. Many people also convert this space into a small apartment for an aging parent or tenant, which can greatly help you pay for utilities like water, electricity or create extra income. Attics or attics often work well for playrooms, especially if they have high ceilings. If you have kids, you can add swings to the rafters and create a cool playroom just for them.

Addition of Energy Efficient Windows

Buyers these days are buying homes with energy efficiency in mind. Old single-glazed windows are a thing of the past, in favor of double-glazed windows, which provide sound and heat insulation. You can expect to recoup 60-90% of your costs by investing in energy efficient windows. You can also benefit from a tax credit.

Adding a Terrace

Adding a deck increases the value of your home. Outdoor living spaces have become more desirable, especially as more people stay home for vacations or during a pandemic lockdown. If you make your patio and garden more attractive, your home will be more attractive to potential buyers when you decide to sell. Homeowners recoup 65% to 90% of their investment by adding a deck.

The cost of adding a deck to your home varies widely. It all depends on its size and how many bells and whistles you want to add, such as built-in seating, multiple stairs, built-in flower pots, and the size of the patio. As you might guess, you can save a lot of the cost, usually half, by doing the work yourself. Keep in mind, however, that building a terrace is not easy and find out from your municipality if you have the necessary permits.

If you decide to go through a craftsman or contractor, shop around before choosing someone to work with. Make sure you get at least three quotes, with details, from the contractors you hire. Carefully check contractor credentials before accepting a quote, and watch out for scams.

Energy Efficient Insulation

If your home lacks basic insulation and has old doors that let in lots of hot and cold air, home inspectors working with potential buyers will include this in their reports. Homes that have not been modified for energy efficiency cost more to live in and maintain.

Doing energy-saving work in your home doesn’t have to be very expensive and can make your home more attractive to potential buyers. You can make a huge saving each year just by making a few changes. For example, you can add extra insulation to your attic for $200 or less, and this small change can save you hundreds of dollars each year on your electricity bill. Seal cracks around the house to save even more money on energy costs and to make your home more attractive to buyers.

You can often discover areas that need more insulation in these places:

Around doors and windows
Around electrical outlets and light switches
In recessed lighting
Around the attic hatch
In the basement
Wherever conduit or wires exit the house

If you need to replace your water heater, consider spending a little more on a high-efficiency water heater. Savvy buyers know that these water heaters can really lower their energy bills. If you use less than 150 liters of water every day in your home, a tankless water heater can save you 24%-34% on your water heating costs. If you use more, count on a saving of 8% to 14%.

Basic Maintenance that make your house or apartment shine again

Basic maintenance adds more value to your home. Keep the paint fresh, fix the roof if it leaks, replace rotting wood, and get rid of any mold you find. These types of stains keep your home from deteriorating over time. Buyers want a healthy, solid, and safe home, and they look carefully for signs of routine maintenance. You can replace your home’s electrical wiring, repaint the exterior and interior, or replace the plumbing. These projects keep my house in pristine condition so that when you decide to sell again, buyers see a well-maintained home.

In conclusion, certain continuous improvements to your home can greatly improve your comfort of life and in the long term considerably increase the value of your property.

7 Home Improvement and Renovation Ideas that Increase Home Value

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