Three renovation tips for the best ROI

Posted by Kent Braaten on Friday, January 11th, 2019 at 10:59am.

  1. Keep updates in line with the style of your neighbourhood.  Expensive upgrades may not pay off in the future if they’re too out of the norm of the neighbourhood.  If you plan on selling your home soon, choose materials and appliances that are on par with the style of the average home in your neighbourhood.  A $70,000 kitchen renovation won’t go over well if the average home price in the neighbourhood is $250,000.

  2. Don’t over-improve the room; you’re unlikely to get a great return on your investment.  Instead, make simple upgrades to your lighting, fixtures, and hardware and freshen up the space with a coat of paint.

  3. Update appliances, especially if they’re no longer working properly.  Don’t focus on upgrading to the highest end appliances, unless it’s keeping with the style of the home.

If you’re planning to sell, focus on finding a middle ground that will make the space appealing to potential buyers but won’t break the bank.

 

 

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