The trick to selecting renovations that do increase the value of your home is to choose ones that fit in with the look and feel of the neighbourhood. Whether you plan to live in your home for many more years or you will be selling in the near future, here are some home improvements that add resale value whenever you decide to sell.
Redefining Space
Do the patio doors open onto just a grassy part of the backyard? Adding a deck or a flagstone patio will convert the area around the doors into usable space for relaxing and entertaining. Would enclosing the existing porch increase the house’s functionality? Is the attic filled with boxes of “treasures?” Turning an unused attic into a bedroom is a good investment. The same goes for the basement – if you’ve been meaning to refinish it for a while now, this is another home renovation that adds resale value.
Energy Efficient Upgrades
Any kitchen or laundry room renovations should include energy efficient appliances and insulated exterior walls.
Replacing single-pane windows will improve the energy efficiency of a home.
Home improvement projects involving the roof, the gutters, and HVAC systems should increase energy efficiency, be eco-friendly and be relatively easy to maintain.
Cosmetic Upgrades
Any part of a house, interior or exterior, that appears tired or worn will detract from a house’s market value. Painting a home’s exterior a new colour increases curb appeal. Replacing old wall-to-wall carpet with area rugs and laminate flooring will be more appealing to home buyers with small children. Swapping out an old front door for a new one can make the entrance to your home more welcoming.
Adding Storage
Increasing a home’s storage capacity is an excellent way to make your home attractive to prospective buyers. No closet by the front door? Build one. Adding shelves, bins and cabinets are good clutter-management solutions. But use built-ins judiciously: built-in shelving units in a laundry room will add more resale value than built-in bookcases in a living room.
