Finding out what home renovations add the most value can help you choose your home renovation projects wisely. At Alderidge Construction, we understand how important it is to not only incorporate design features that will work for you and your family but also features that will help with resale value down the road. That is why our team has put together a list of home renovations that offer the greatest return on investment.
1. Adding an Income Suite
The best home renovation project for increasing the value of a property is to build an income suite by either converting the basement or building a carriage house. Since income suites can help cover the cost of mortgage payments, having a rental suite will provide you with a positive cash flow that can supplement your income.
2. Remodelling the Kitchen
Investing in a modern kitchen with high-quality cabinets and under cabinet lighting can help significantly increase the value of your home. When investing in a kitchen renovation, consider replacing old appliances with new high-end, energy-efficient models. Look for Energy Star rated appliances, as these are better for the environment and can help cutdown on your energy bills.
3. Bathroom Additions
After the kitchen, bathrooms are the most important rooms for determining the value of a home. If your home only has one full bathroom, adding in a three-piece washroom by using up dead space in the house can help dramatically raise the market value of your home. You can also consider making small changes to the bathrooms throughout your home, such as using glass for the shower, to help make the space feel larger and more modern.
4. Updating Fixtures
Some small but effective upgrades like updating fixtures throughout your home can help revitalize a space and add to its overall resale value. Consider updating dated kitchens and bathrooms by replacing cabinet hardware, light fixtures, countertops, and faucets or adding pot lights to open-concept spaces for an immediate increase in the home’s value.
5. Putting in New Flooring
Installing new flooring like hardwood can help to immediately raise any home’s property value. Consider selecting high-quality flooring products that provide a greater level of durability for high-traffic areas. If your home already has hardwood flooring throughout, having the hardwood refinished can make the flooring look like new, while still retaining the value of the home’s original hardwood.
If you would like to learn more about what home renovations add the most value, or if you are interested in our custom home building services, please contact Alderidge Construction at 1-844-RENO-453 or by booking a consultation on our website.