Whether you’re looking to make a move this year or get some badly needed updates done, find out what brings the highest return on your investment.
According to a recent study conducted by RE/MAX Canada, the top 6 worthy updates in your home are your kitchen, bathroom, flooring, paint, finishing the basement and the outdoors/Landscaping.
Kitchens and Bathrooms
Kitchens and bathrooms top the list bringing the highest rate of return on your investment. While kitchen renovations average between 20K and 50K, they recover about 80% of the investment. If you are ready for a kitchen renovation, you may wish to change the current layout. A bright and functional kitchen or bathroom goes a long way, especially to a buyer.
Exterior Upgrades
Replacing Siding:
Not only will you completely transform the look of your home with new siding, you can also enjoy the energy efficiency benefits of doing so as well as reducing home maintenance. New siding offers an excellent rate of return of about 75%.
Roofs and Windows:
Replacing old roof and windows is a plus to a buyer looking for a new home. It also offers the energy efficiency benefits as well as an average of 68% return. Choosing new window styles and colours can also dramatically alter the overall curb appeal of your home.
For more information and advice on your home renovations and/or updates, reach out to me here. Read more on renovations here.
