5 home renovations that will give you ROI at resale

For customers, it’s a key question: will they make a profit from your renovation when they sell their house? A high ROI means you're getting more value for your money, which makes your renovation a smart move.

Danielle Mathews, co-owner of Reborn Renovations, explores five renovation projects that promise a commendable 75% ROI at resale.

“Focusing on projects with a high ROI is key to maximizing the value of your home,” he said. “Homebuyers are looking for properties that are move-in ready, so strategic renovations can make your home stand out and fetch a higher selling price.’

Refresh your floors

Updating worn or outdated flooring is one of the best ways to boost your home's value and appeal to potential buyers. ‘Hardwood floors are always in demand, and can recoup your expenses,’ says Danielle. Opting for durable, on-trend options like engineered hardwood or luxury vinyl plank not only enhances the aesthetics of your home but also ensures maximum return on investment (ROI) in the long run. 

Additionally, consider investing in high-quality carpets or area rugs to add warmth and comfort to living spaces while maintaining a cohesive design theme.

Give your home a fresh coat of paint

A simple paint job in your home can make a significant difference in its overall look and feel. ‘A neutral, modern color palette throughout the home can increase your home's perceived value,’ advises Danielle. 

Neutral tones like soft greys, warm beiges, and crisp whites create a versatile backdrop that appeals to a wide range of tastes and preferences. Stick to light, airy shades to make spaces feel larger and more inviting, while strategically incorporating accent colors to add depth and personality to different rooms.

Replace your windows

Outdated windows can detract from your home's curb appeal and energy efficiency, ultimately affecting its resale value. Upgrading to energy-efficient models not only improves your home's aesthetic appeal but can also save you money on utility bills in the long term. ‘New windows can recoup your renovation costs,’ says Danielle. 

Consider opting for double or triple-pane windows with low-emissivity coatings and argon gas fills to enhance insulation and minimize heat loss during colder months. Additionally, choose window styles and finishes that complement the architectural style of your home and enhance its overall curb appeal.

Upgrade your kitchen

As the heart of the home, the kitchen plays a crucial role in influencing buyers' perceptions of a property. ‘Minor kitchen updates like new countertops, backsplashes, and appliances can provide a significant return on investment,’ notes Danielle. Consider replacing outdated countertops with durable materials like quartz or granite, which offer both aesthetic appeal and long-term durability. Updating cabinet hardware, lighting fixtures, and faucet finishes can also breathe new life into your kitchen space without breaking the bank. 

For a more extensive renovation, consider refacing or repainting existing cabinets, installing new flooring, or upgrading to energy-efficient appliances to further enhance the functionality and appeal of your kitchen space.

Create more living space

Expanding or repurposing existing living spaces can dramatically increase your home's functionality and appeal to potential buyers. Consider converting an underutilized basement or attic space into a functional living area, home office, or recreational space. Alternatively, consider adding a sunroom, screened porch, or outdoor living area to extend your home's living space and create additional opportunities for relaxation and entertainment. 

‘Expanding your home's living space can significantly increase its market value and appeal to a broader range of buyers,’ advises Danielle. This is especially true in Calgary, where a new zoning law allows homeowners to develop their basements into separate rental suites.