Top Home Improvements to Boost Your Home’s Value

High-ROI Home Improvements for Selling Your Home

Are you planning to sell your home in Calgary but unsure about where to invest your money for the best return? While small improvements can certainly make a difference, knowing which upgrades bring the most value is key. The success of your improvements depends on a few factors:

• The time of year

• The location of your home

• The current market conditions

• The competition in your neighborhood

According to Remodeling Magazine, here are some high-return improvements to consider:

1. Hardwood Flooring

Hardwood floors are a top choice for many homebuyers because they’re visually appealing, durable, and long-lasting. If you have carpet in older homes with hardwood beneath, consider ripping it up and refinishing the wood. Hardwood floors can make a big impact, especially in an older home. Just make sure you're ready for the investment.

2. Kitchen Renovations

While updating a kitchen can be expensive, it often yields a great return. Even minor updates like replacing countertops or adding new hardware to cabinets can boost appeal. A full renovation isn't necessary unless your kitchen is in rough shape. Go for a modern look with affordable materials—granite or quartz countertops can work wonders. An open layout and updated fixtures can also help.

3. Adding Storage

Storage is always a major consideration for homebuyers. Adding shelves, cabinetry, or drawers to existing spaces can help maximize storage potential. Focus on making closets more functional and consider storage solutions for the garage, too.

4. Walls and Ceilings

Take a critical look at your walls and ceilings. Make sure they’re free of stains, cracks, or damage. Repainting walls in neutral shades can help refresh the space. If you have old wallpaper or wood paneling, consider removing or painting them to update the look.

5. Bathroom Upgrades

A bathroom renovation can also offer a strong return. Focus on replacing outdated fixtures, floors, and taps, and updating the lighting. Even minor changes can create a fresh, modern look.

6. Exterior Improvements

Don’t neglect the exterior of your home. Buyers will immediately ask about the roof, so if it’s in bad condition, it’s worth addressing. Also, consider updating the fence, door hardware, or fixing cracks in the walkway.

7. Energy Efficiency

Energy efficiency is a top priority for many buyers. Consider upgrading insulation, especially in the attic, and replacing old appliances with energy-efficient models. These improvements not only make your home more comfortable but can also save money in the long run.

8. Smart Technology

Smart technology, such as a smart thermostat or keyless entry, adds convenience and appeal to your home. Buyers are looking for tech that can simplify their lives and improve energy efficiency. These upgrades are relatively affordable and can make a big difference in attracting potential buyers.

9. Adding a Wooden Deck

A new deck can offer an impressive return on investment—around 87%. Plus, it gives buyers a great outdoor space to enjoy.

10. Replacing Your Garage Door

A new garage door can boost curb appeal and provide an 83.7% return on investment. Modern designs are available in many colors, allowing you to match it to your home's style.

11. Replacing Windows

Energy-efficient windows are increasingly important to buyers. If your windows are outdated or inefficient, replacing them can provide a 74% return on investment.

12. Updating Siding

Replacing old siding with fiber-cement or vinyl siding can also provide a strong return. Fiber-cement is durable and low-maintenance, while vinyl is a more affordable option.

Before diving into any major renovations, it’s a good idea to consult with a real estate professional to ensure you're focusing on the right improvements for your area.

Tax Rebates for Major Renovations

If you're undertaking major renovations or building a new home, you might be eligible for the GST/HST New Housing Rebate, potentially giving you up to $30,000 back. This rebate is available for substantial renovations, building a new home, or converting non-residential properties into homes.

Renovation Contract Checklist

Always get a written contract when hiring a contractor. Your contract should include details about the scope of work, payment terms, material specifications, warranties, and timelines. This protects both you and the contractor and ensures that the project stays on track.

By focusing on these high-ROI improvements, you can enhance your home’s value and make it more appealing to potential buyers.