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4 Renovations with the Biggest Perceived ROI

When listing your home, keep in mind that there are certain features home buyers perceive add more value to a house than others.

As always, location seems to be at the top of the list for what buyers perceive to be the most valuable aspect of any property, however that can’t be changed, so let’s focus on what can!

In the past, we’ve learned that replacing yard maintenance, fresh paint, and various other updates are proven ways to increase your home’s listing price, but it could also be well worth it to make renovations that buyers regard as value-boosting to enrich the sale.

Here are the top 4 renovations with the biggest perceived ROI:

Kitchen Reno

Whether it’s new appliances, flooring, cabinetry, or a full renovation, the kitchen will provide the highest ROI in the home.

A modern, spacious kitchen with ample cupboard space and long-lasting countertops and appliances is attractive to all buyers.

If your kitchen needs an update and you have the time and money to invest before selling, this is highly recommended, you could turn your investment into a $25,000+ profit. 

Open It Up

Open floor plans are the most popular layouts for buyers.

Taking down a wall to open up space between the kitchen, living room and dining room could increase the value of your home up to $10,000.

Be sure to have a professional do this work and apply for any permits required, in advance.

You may need to update flooring and painting once the wall has been removed, but these added costs will definitely pay off when it comes to sell! 

Enclosed Garage

Adding an enclosed garage not only keeps your vehicle safe but also adds additional storage space and bonus square footage to the home.

Increased storage space is a bonus for any home and is something buyers will appreciate and be on the lookout for. 

Resurface the Roof

Replacing a roof seems intimidating, but new shingles can affect the overall quality (and longevity) of your house.

You’ll definitely want to call in the pros for this job; a leaky or damaged roof can cause unimaginable damage and stress to any homeowner.

Additionally, a resurfaced roof will be much more aesthetically pleasing to buyers and tie in with your curb appeal. Remember, your home only gets one chance to make a first impression! 

If you’re thinking about selling your home and want to ensure you get the highest price possible, contact us to come take a look and we’ll give you some ideas on what can be done to increase the value.

While these are larger renovation projects, there are plenty of smaller and more affordable ones that can be done and we’d be more than happy to offer you some tips. 


4 Things You Don't Need to Fix when Selling Your Home

Selling your home can seem like an endless list of things to repair, replace, and clean, but you’d be surprised at what Buyers are willing to overlook when searching for their next home.

Cleaning, staging, and landscaping are top of the ‘must-do’ list when but there are a few things you can get away with that may even be more beneficial to the buyers if they aren’t completed.

And the best part is that you won’t feel like you’re trying to pull the wool over the eyes of the buyers.

Here are our top 4 things that you don’t need to fix when selling your home:

Cosmetic Flaws

The majority of Buyers expect to see some normal wear and tear in a home; the odd scuff or scratch mark on a wall or floor is not as big of a deal as you may think.

If you’re handy and have the time to fix these small flaws, then by all means, but, we don’t recommend spending a fortune to have them repaired, especially if they are outdated, as the Buyer will likely want to replace them altogether. 

Minor Electrical Issues

While this sounds extremely serious, we’re referring to things such as light fixtures that lead to nowhere or sockets that wiggle a little.

If you have exposed wires or something more serious, then it definitely needs to be fixed prior to listing your home, and for your own safety! 

Partial Room Upgrades

If you have a room or two that is fairly outdated and needs some minor repairs (leaky faucet, cracked countertop, scuffed flooring), you want to leave this as is, chances are the Buyer will want to renovate the entire room.

It could be a waste of your time and money to replace a faucet or countertop while leaving outdated flooring and cabinetry.

Remember, a partial remodel rarely looks good and many will view it thinking it requires a full remodel so it’s best to leave this to your Buyers to renovate as they wish. 

Old Appliances

Rather than removing old appliances and leaving empty spaces, you will need to replace them.

However, you don’t need to replace them with top-of-the-line new appliances. You can replace them with used appliances that are in good working and cosmetic conditions.

Most buyers would prefer to see clean, working appliances than none at all. 

If you’re thinking about selling your home and worried that you’ll have a long to-do list of projects to get it ready for market, don’t panic just yet, there are plenty of ways to maintain or increase the value of your home that won’t cost a fortune.

Contact us to come take a look and give you a few ideas on how you can ready your home for market in the fastest, most affordable way possible.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.