Kitchen renovations can increase the value of a home more than most other home improvement projects and offer the best return on investment. The kitchen acts as the heart of the home and it’s where family members meet together and spend time bonding. From a visual and a statistical perspective, kitchen renos are an excellent way to increase your home’s value and to see great returns when it’s time to put your home on the market.
ROI of Common Home Improvement Projects
Below you’ll find the top 5 renovations that will dramatically increase your home’s value:
1. Kitchen renovations – This should be your top reno priority since it offers a 75% to 100% ROI upon resale.
2. Bathroom renovations – Upgrade your bathrooms to see a 75% to 100% return on investment when you sell your home.
3. Interior painting – Painting is one of the easiest and cheapest home improvements you can make to realize a 50% to 100% ROI.
4. Roof replacement – Many buyers won’t consider a home that needs a replacement roof. Add curb appeal to your home in the form of a new roof and you’ll see a 50% to 80% ROI in return.
5. Energy-efficient windows – Replace your older windows with energy-saving replacements and receive a 50% to 75% return on your investment. There are government programs available that can help reduce the costs involved with this project.
The top 3 upgrades or replacements to consider for your kitchen renovation include countertops, cabinets and appliances. Other upgrades may also be required to make the kitchen more appealing and functional. The value that is being offered by these improvements is not only in the form of an increased resale profit but as a more comfortable and appealing kitchen to enjoy while you remain in the home.
A lot of your time will be spent in the kitchen so carefully consider the type of look you want combined with the functionality you need. To learn more about kitchen upgrades please contact Clareville Distinctive Kitchens & Baths at 905-793-2990 or use our contact form at clarevillekitchens.ca. We look forward to meeting you and helping you create the kitchen of your dreams.