Which Renovations Add The Most Value To Your Home?

Trends come and go with time. This also holds true for popular home renovations. Do you remember when wall-to-wall carpet was a selling feature? We can all be thankful that one didn’t last!

What has stuck around though, is the appreciation for beautiful yet functional kitchens and bathrooms. These two rooms are still high on the list of what matters to buyers, but there are a couple of new-comers that have taken over their rank of importance—and they may surprise you.

For the last two years, the pandemic has changed the way we view our homes. Our living space has become more than just a place of residence. Sure, it’s where we eat, sleep, and relax, but lately, it’s also where we work, play, and staycation.

More and more home buyers are interested in upgrades like having a home office and a functional outdoor space for entertainment and relaxation. Read on to learn what other renovations you can do to catch the eyes of potential buyers in 2022.

Reno #1: Home Office Space

How much space you have to work with will define how innovative and resourceful you need to be with this one. If you’re lucky enough to have a spare room, you can easily furnish it with office necessities, then presto—you have an in-home office, no resourcefulness needed.

If you aren’t that lucky, consider converting a walk-in closet or pantry into an office. This may take some ingenuity and creativity, but your end goal is to have a quiet place to call your own. These rooms likely won’t have any natural lighting—choose a fixture with soft lighting to maintain a nice ambiance in the room. Don’t forget to add some decorative touches.

No walk-in closet or pantry? Convert a regular closet into an office with minimal interruption of the room by removing the hanger bars, installing a hinged table top and some shelves, and placing an office chair facing the closet.

Reno #2: Make Your Outdoor Space Functional And Therapeutic

There are so many things you can do to improve the looks and functionality of your outdoor space. Some are more expensive than others, and while they add to a buyer’s appeal, you’ll only get a percentage of the cost back upon selling your home.

The following are some popular outdoor renovations that appeal to buyers in today’s market:

Backyard Pool

Above-ground or in-ground, it doesn’t matter. Pool sales increased over the last two summers because families were looking for entertainment and exercise while stuck at home under pandemic restrictions.

Hot Tub

Hot tubs are very therapeutic and stress relieving—and exactly what everyone needs, a high-end spa in their own backyard

Deck

Deck sales have skyrocketed over the last two summers. Contractors were overbooked and wood prices went through the roof, but that didn’t deter people from wanting a comfortable, dedicated place for spending time outside.

A Full Outdoor Kitchen

Having a BBQ on your deck is great, but it’s old news. Having a full outdoor kitchen is where it’s at—complete with a fridge, built-in gas grill, countertop, sink, cabinets, and, of course, a bar. A retractable awning is a nice touch for shade and rain protection.

Fire Pit Or Fireplace

A permanent fire pit or fireplace with bench seating is a top outdoor entertainment feature these days. Plan a game night around the fire, set up a screen for backyard movies, or enjoy a quiet place for two to spend some romantic time together.

Reno #3: Curb Appeal

You want to WOW your buyers when they pull up in front of your home. Show them how loved the property is by how well you’ve maintained it.

Starting with the grounds, boost curb appeal with some low cost, basic maintenance:

• Keep the grass cut, weed free, and fertilized
• Trim bushes and shrubs
• Weed flower beds
• Keep walkways and driveways clean
• Spread fresh wood-chips or mulch around trees, shrubs, and flower beds
• Run solar lights along walkways, in flower beds, and along the driveway

Some added touches to the house—that aren’t too expensive—will also catch some looks and add to your ROI:

• A fresh coat of paint on the exterior
• New siding or trim can change the overall look and add value
• A new garage door

Reno #4: Kitchen Upgrades

Homebuyers are always interested in the kitchen. Many surveys show that when it comes to kitchen features, most homebuyers are looking for:

Islands

Islands are add-ons that buyers dream about. Especially those with a second sink—very high in demand. Islands provide extra counter space for meal preparation and storing small appliances, as well as extra cupboard and drawer space.

Walk-in Pantries

Buyers love having an organized area dedicated to shelf items that traditionally took up needed cupboard space.

More Cupboards, Drawers, And Counter Space

People can’t get enough space in the kitchen. If you’ve ever worked in a tiny kitchen and were constantly bumping elbows and egos, then you know exactly why this space is so valuable. With a ridiculous amount of kitchen gadgets and appliances available today, you need a ridiculous amount of space to store them.

Reno #5: Bathroom Vanity

Buyers want to see that old single sink replaced with a double sink vanity. With remote work and learning here to stay, there’s definitely more bathroom time happening. Having a double sink allows for more efficient use of the bathroom along with greater personal space.

Are You Looking To Boost the Resale Value of Your Home?

Staying on top of current market trends that boost your resale value is a wise decision. It helps you focus on which renovations to proceed with, and which ones to take a hard pass on. Get trusted advice from a local realtor who knows about popular renovations that buyers are looking for in your area.

Joel Cooper has been helping people increase the market value of their homes in Toronto and the GTA for over 14 years. If you’re looking for open communication, total transparency, and meaningful results when selling your home, get in touch today!