{"id":196043,"date":"2019-09-26T12:45:36","date_gmt":"2019-09-26T16:45:36","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=196043"},"modified":"2020-04-21T13:14:35","modified_gmt":"2020-04-21T17:14:35","slug":"renovation-updates-increase-property-value","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/guides\/renovation-updates-increase-property-value","title":{"rendered":"The top 6 renovation updates that will increase your property value"},"content":{"rendered":"<h4 id='pressboard-ad-sponsorship-tag' style='margin-bottom: 35px;'><\/h4><p>Renovations offer a real opportunity to increase your home\u2019s value \u2014 so long as the upgrades are strategic. In 2018, real estate brokerage Royal LePage released a <a href=\"https:\/\/www.royallepage.ca\/en\/realestate\/news\/kitchen-renovation-has-greatest-potential-to-boost-a-propertys-sale-price\/\" class=\"external\" target=\"_blank\">study<\/a> outlining which renovations will give you the most bang for your buck when you list your home to sell. Kitchens topped the list, offering the biggest return on investment, with bathrooms and finished basements tying for second place. Energy efficient upgrades and interior painting also ranked in the top ten.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-5.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-196044\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-5.jpg\" alt=\"\" width=\"1024\" height=\"683\" \/><\/a><em>Photo: James Bombales<\/em><\/p>\n<p>We sourced expert tips for maximizing the ROI of your renovation at <a href=\"https:\/\/improvecanada.com\/\" class=\"external\" target=\"_blank\">Improve Canada <\/a>\u2014 the largest home improvement centre in Canada. Conveniently located two stop lights north of Toronto in Vaughan, Improve Canada offers a one-stop shopping experience for all of your renovation needs. There are over 350 showrooms under one roof, with businesses that specialize in every project on Royal LePage\u2019s home improvement list \u2014 from <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#bathrooms\" class=\"external\" target=\"_blank\">bathroom<\/a>, <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#kitchens\" class=\"external\" target=\"_blank\">kitchen <\/a>and <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#custom-builders-renovators\" class=\"external\" target=\"_blank\">basement <\/a>remodels to<a href=\"https:\/\/improvecanada.com\/directory\/categories\/#landscaping\" class=\"external\" target=\"_blank\"> landscaping <\/a>and<a href=\"https:\/\/improvecanada.com\/directory\/categories\/#energy-saving\" class=\"external\" target=\"_blank\"> energy-saving solutions <\/a>for your home.<\/p>\n<p>Here, we asked home renovation experts Fredi Fazzi (the owner of <a href=\"https:\/\/improvecanada.com\/vendors\/remodel-carpet-one-floor-home\/\" class=\"external\" target=\"_blank\">Remodel Canada <\/a>located within Improve Canada at showroom 205) and Mark Dayter from <a href=\"https:\/\/improvecanada.com\/vendors\/moose-basements\/\" class=\"external\" target=\"_blank\">Moose Basements<\/a> (located at showroom 113 and 161) to share their top tips for boosting your home\u2019s value when you renovate.<\/p>\n<div class=\"see-more-link\"><img decoding=\"async\" alt=\"See Also\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/>\r\n          <strong><span>SEE ALSO:<\/span><a href=\"https:\/\/www.livabl.com\/articles\/2019\/07\/manage-renovation-timeline-budget.html\"  area-label=\"5 tips to manage your renovation timeline and budget\">5 tips to manage your renovation timeline and budget<\/a><\/strong>\r\n        <\/div>\n<h2>1. Invest in the right renovations and reap the rewards.<\/h2>\n<p>You don\u2019t have to tear down walls or build a brand new addition to yield big returns. Small upgrades in design and decor can increase the value. At minimum, prepare to invest $2,000 to $5,000 on home maintenance updates, painting, touch ups, cleanups and simple landscaping. Updating plumbing fixtures, old flooring, light fixtures and even door\/cabinet hardware can drastically improve the look of a room. At Improve Canada, you can find all of this and more within their 350 showrooms. To ensure your visit is efficient, it\u2019s best to<a href=\"https:\/\/improvecanada.com\/directory\/categories\/\" class=\"external\" target=\"_blank\"> schedule appointments on Improve Canada\u2019s website<\/a> via each of the showrooms\u2019 profile page in advance since these local businesses can sometimes be out on a service call.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-3.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-196045\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-3.jpg\" alt=\"\" width=\"1024\" height=\"673\" \/><\/a><em>Photo: James Bombales\u00a0<\/em><\/p>\n<h2>2. Give your kitchen a facelift.<\/h2>\n<p>A kitchen facelift is the best way to boost your property value \u2014 upwards of 12.5 percent, according to the Royal LePage Home Improvement Survey. To break it down, on a $700,000 house, that\u2019s an $87,500 increase in property value. It\u2019s no wonder then why kitchens are the largest category at Improve Canada, with <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#kitchens\" class=\"external\" target=\"_blank\">43 showrooms in the kitchen category <\/a>alone.<\/p>\n<p>\u201cHomebuyers are looking for new floors, new cabinets, countertops, backsplash and lighting. It\u2019s the whole picture,\u201d says Fazzi. If you\u2019re on a budget, there are many cosmetic fixes that will boost the kitchen\u2019s appearance without breaking the bank. Dark wood cabinet doors can be taken down, sanded and painted a bright, light colour \u2014 either by yourself or a painting specialist on Fazzi\u2019s team. Even replacing the hardware or <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#tile\" class=\"external\" target=\"_blank\">adding a backsplash<\/a> can do wonders to update the space.<\/p>\n<div class=\"see-more-link\"><img decoding=\"async\" alt=\"See Also\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/>\r\n          <strong><span>SEE ALSO:<\/span><a href=\"https:\/\/www.livabl.com\/articles\/2019\/07\/designing-a-luxury-kitchen-on-a-budget.html\"  area-label=\"4 essential tips for designing an expensive looking kitchen on a budget\">4 essential tips for designing an expensive looking kitchen on a budget<\/a><\/strong>\r\n        <\/div>\n<p>Fazzi also recommends swapping old appliances for modern, stainless steel options. His showroom boasts the latest and greatest in appliances \u2014 think on-trend colourful finishes, advanced touch technology and fridges that come with a built-in camera, so you never have to wonder if you\u2019ve run out of parmesan cheese at the grocery store.<\/p>\n<p>For flooring, Fazzi recommends splurging on good quality hardwood throughout the main floor and installing tile for the kitchen and entryway. <a href=\"https:\/\/improvecanada.com\/vendors\/remodel-carpet-one-floor-home\/\" class=\"external\" target=\"_blank\">Remodel Canada<\/a> carries one of the largest selections of carpet, hardwood, laminate, ceramic tile, luxury vinyl plank and more. In the event you can\u2019t find what you\u2019re looking for, there are <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#flooring\" class=\"external\" target=\"_blank\">24 additional flooring showrooms<\/a> located within Improve Canada.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-4.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-196046\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-4.jpg\" alt=\"\" width=\"5781\" height=\"3842\" \/><\/a><em>Photo: James Bombales<\/em><\/p>\n<h2>3. Splurge on a bathroom remodel.<\/h2>\n<p>Bathroom remodels aren\u2019t cheap, but they can increase your property value between 2.5 and 12.5 percent, according to Royal LePage. Today\u2019s homebuyers want a modern freestanding tub, glass standing shower and good quality vanity. If you\u2019re short on space, leave out the tub and install a luxurious, frameless glass walk-in shower. If you\u2019re looking for advice on where to save and where to splurge in a bathroom remodel, check out these <a href=\"https:\/\/www.livabl.com\/articles\/2019\/09\/luxury-home-designer-spills-save-splurge-bathroom-remodel.html\">designer tips.<\/a> With <a href=\"https:\/\/improvecanada.com\/directory\/categories\/#bathrooms\" class=\"external\" target=\"_blank\">21 showrooms in the bathroom category<\/a> alone, it\u2019s easy to compare prices and save money.<\/p>\n<p>You might be a self-proclaimed shower person, but a future buyer may feel differently. \u201cIt\u2019s always nice to have a beautiful shower, but if the final goal is to rent it out or sell it, young families with a kid will need at least one tub in the house,\u201d says Dayter.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-6.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-196047\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-6.jpg\" alt=\"\" width=\"1024\" height=\"683\" \/><\/a><em>Photo: James Bombales<\/em><\/p>\n<h2>4. Extend your living space by finishing your basement.<\/h2>\n<p>Since property values in Toronto have skyrocketed and land in the city is scarce, many homeowners are looking below ground to expand their square footage and increase their property value. \u201cWhen you finish your basement you\u2019re adding an entire story to the house,\u201d says Dayter. \u201cYou\u2019re extending the square footage of the home, which makes it bigger and gives you more possibilities.\u201d<\/p>\n<p>According to the study, basement upgrades can increase your home value up to 10 percent, but if you\u2019re planning to transform the unfinished basement into a rental unit, the ROI possibilities are much greater. \u201cIf you legally apply to have a kitchen and bathroom, your basement becomes a separate unit and your house will be considered a duplex,\u201d says Dayter.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-1.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-196048\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-1.jpg\" alt=\"\" width=\"1024\" height=\"1024\" \/><\/a><em>Save energy with the Nest Learning Thermostat available at Simply Smart within Improve Canada.<\/em>\u00a0<em>Photo:\u00a0<a class=\"external\" href=\"https:\/\/www.instagram.com\/p\/B0TEKM5gPH_\/\" target=\"_blank\" rel=\"noopener noreferrer\">utekappliances\/Instagram\u00a0<\/a><\/em><\/p>\n<h2>5. Invest in energy efficient upgrades.<\/h2>\n<p>Energy efficient upgrades have the potential to increase your property value up to 10 percent. This includes installing new windows, ensuring your house has proper insulation and investing in an energy-efficient heating system. \u201cHaving a smart thermostat is a good, energy efficient way to keep costs down, and cool and heat the house efficiently,\u201d says Fazzi. You can find smart thermostats at <a href=\"https:\/\/improvecanada.com\/vendors\/simply-comfort\/\" class=\"external\" target=\"_blank\">Simply Smart <\/a>(showroom 94 and 95) and <a href=\"https:\/\/improvecanada.com\/vendors\/my-smart-home\/\" class=\"external\" target=\"_blank\">My Smart Home<\/a> (showroom 93) at Improve Canada.<\/p>\n<p>Having proper insulation in your basement will help keep the remainder of the house cozy during Ontario\u2019s harsh winters. \u201cFor the basement floors, you basically have two options: Fiberglass or spray foam,\u201d says Dayter. Both go underneath concrete to prevent heat loss through the floor and provide a warmer, more comfortable landing to walk and live.<\/p>\n<p><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-2.jpg\" rel=\"lightbox[196043]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-196049\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2019\/09\/renovation-updates-increase-property-value-2.jpg\" alt=\"\" width=\"764\" height=\"509\" \/><\/a><em>Photo: James Bombales\u00a0<\/em><\/p>\n<h2>6. Brighten up with a fresh coat of paint.<\/h2>\n<p>Any realtor will tell you to paint before listing your home for sale. <a href=\"https:\/\/improvecanada.com\/vendors\/remodel-carpet-one-floor-home\/\" class=\"external\" target=\"_blank\">Remodel Canada <\/a>is an authorized dealer for Para Paints, and they also supply Benjamin Moore and Sherwin Williams. \u201cIf you want to sell a house, the brighter the better,\u201d says Fazzi. \u201cLighter colours like soft greys and creamy whites attract natural light and make the rooms look bigger. Stay away from accent walls, they can make your rooms look smaller.\u201d<\/p>\n<p>At <a href=\"https:\/\/improvecanada.com\/vendors\/moose-basements\/\" class=\"external\" target=\"_blank\">Moose Basements,<\/a> they have a basic basement renovation package that includes adding drywall, flooring, electrical and painting. When it comes to the wall colour, Dayter also suggests going with lighter colours (whites with a hint of blue or a hint or yellow), since less light can flood in underground.<\/p>\n<p>Whether you\u2019re renovating to list your home or you simply want to enjoy it more while you live there, start your journey at<a href=\"https:\/\/improvecanada.com\/\" class=\"external\" target=\"_blank\"> Improve Canada<\/a>. With 320,000 square feet to cover and over 350 showrooms, you can get the home of your dreams (and reap the benefits of rising property values). Visit<a href=\"https:\/\/improvecanada.com\/\" class=\"external\" target=\"_blank\"> Improve Canada\u2019s website <\/a>and book appointments with the many showrooms to get started.<\/p>\n<div id='pressboard-ad-sponsorship-msg'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Renovations offer a real opportunity to increase your home\u2019s value \u2014 so long as the upgrades are strategic. <\/p>\n","protected":false},"author":1,"featured_media":196045,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11118],"tags":[11158,11206,11181],"coauthors":[8648],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the 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