When you’re planning to renovate your home, resale value and the return on your renovation investment should always be a primary consideration for any homeowner.

In short, the two best rooms to renovate are the kitchen and the bathroom. But even these rooms need to be planned and budgeted accordingly to make them a wise investment for your property.

In order to get the most from every dollar you spend on your Vancouver home renovation, our renovations team created this guide to help you plan your remodel.

Vancouver kitchen renovations

Kitchens are the hearts of our homes. This is where families spend plenty of time, and the look, layout and features of a kitchen greatly affect our perception of the entire home.

That’s why most experts agree that the kitchen is almost always a good investment for a renovation. In order to stay on budget:

  • Work with an experienced renovation project manager with experience managing budgets.
  • Decide early where to splurge, and where to save. That’s a decision that should not be made in the spur of the moment.
  • Prioritize function over fancy. While a $760 faucet may wow some potential buyers, it likely won’t seal the deal and will rarely fetch the resale value you seek, for example. Instead, use materials that work well, look good and keep your project on budget, financially speaking.

This blog has a good explanation of which parts of your kitchen to update in order to maximize resale value.

Vancouver bathroom renovations

Bathrooms are often considered the second most likely place to get a great return on your renovation investment.

Here are some of the elements that are most likely to generate a profitable price when it comes time to sell your home:

  • New tile flooring, or vinyl plank flooring for those on a strict budget, will instantly update a bathroom, making it look clean and new.
  • Always paint. Just like new flooring, fresh paint instantly makes the bathroom look and feel clean for a small investment.
  • Outdated fixtures are worth replacing in the sink and shower/tub.
  • Lighting is important in the bathroom. Updating the light fixtures can have a significant impact in the bathroom. Consider a low-cost chandelier over the bathtub, or beautiful sconces over the mirror.

Other renovation best bets for ROI

Throughout the home, there are certain upgrades that buyers will notice and can produce a high resale value when you are ready to sell your home.

Flooring

Old, damaged, stained or smelly flooring never presents well to a buyer. Buyers usually look for hardwood or laminate flooring, so if you spend money here, you’re likely to get your investment back. Keep in mind that luxury flooring may not yield high returns – practical flooring is often more important.

Window coverings

Seriously consider spending some money to update your home’s window coverings if you have blinds that are damaged or dirty. These command attention from a buyer, especially since they are at eye level.

Low-cost but attractive window coverings, such as hanging curtains, will often pay off.

Curb appeal

If you own a detached or semi-detached home, think about first impressions! Simple updates to the home’s exterior can greatly affect how the buyer sees the rest of your home. It takes as little as a fresh coat of paint on the front door, and either power washing or painting the home (and cleaning the windows) to make the exterior look as great as the indoors.