Home Renovations That Will Give You The Best Return on Investment

If you are planning to do a large renovation on your home, you want to ensure that your investment has a positive rate of return. Whether you are re-modelling with the intention of selling, or you are turning your house into your dream home, you want to have your investment create as much equity in your property as possible. In this sense all renovation projects are not created equal.

There are many large investments you can make in you home that you will never see a positive return on. Items like an in ground pools and saunas are luxury items that you should only consider if they give you great personal value and satisfaction. Enjoyment obviously has a large amount of worth, but when we are talking about having your investment work for you, and getting your money back in the end, there are some renovation ideas that should be prioritized much higher than others.

5. Basement Development

Percentage recovered upon resale – 50%-75%

Basement Development - Hammerdown Construction - Kitchen Renovations Winnipeg

In Manitoba it is common practices for homes both old and new to be built with a basement. In the past this was a utility space and never considered living area. With todays advancements in both building procedures and materials even homes with older basements can be transformed into the most comfortable room in the house. Gone are the days when a basement has to be cold and dark. Basement developments if done correctly can use clever techniques to make the space feel both roomy, open, comfortable, and bright.

The biggest value when doing a basement development is that you can effectively double the square footage of a single story home. Many homes only have two, or even worse one, bathroom. A basement renovation gives the opportunity to put in an additional full bathroom. With the installation of egress windows additional bedrooms can be added as well. This is probably the most useful renovation project for a growing family.

4. The Facelift (Flooring, Paint, & Millwork)

Percentage recovered upon resale – 50%-100%

The Facelift - Hammerdown Construction - Winnipeg Kitchen Design

Sometimes your home just needs a little love and fresh style to really make it shine. A fresh paint job in contemporary colours mixed with modern casing and baseboards and new hardwood flooring can be one of the quickest ways to add value to your home. These simple updates are also the first thing people see when walking into your home. Whether it be a potential buyer, friend, or family member you are looking to impress, a modern facelift can be all you need. When you choose a design and build company like Hammerdown you get access to years of experience when it comes to picking colour and options that will have the longest staying power.

3. Windows and Doors

Percentage recovered upon resale – 50%-75%

Windows and Doors - Hammerdown Construction - Kitchen Design Winnipeg

According to various appraisal sources, energy efficient renovation projects are known to have one of the highest paybacks relative to their cost. New windows and doors serve as a double value renovation. They will both increase the beauty of your home as well as help you save money on your energy bills. This added energy saving increases the value gained from the project.

2. Bathrooms

Percentage recovered upon resale – 75%-100%

Bathrooms - Hammerdown Construction - Bathroom Renovations Winnipeg

Per square foot a bathroom renovation can add more value to your home than any other project by a large margin. More and more people are wanting their bathrooms to be more than just a utilitarian space. Today people want their bathroom to be their little oasis from the world, and to have that spa like atmosphere. Now more than ever it’s possible to get all the luxuries in your own bathroom that you would find at a high end spa. Stone top benches in the shower, multiple shower heads, barrier free showers, linear floor drains, freestanding tubs, heated floors, heated towel racks, custom cabinetry, and mood lighting are just a few items on the long list of options available to make your bathroom feel like a 5 star hotel.

1. Kitchens

Percentage recovered upon resale – 75%-100%

Kitchens - Hammerdown Construction - Winnipeg Kitchen Renovations

The heart of the home, and the place where you can see the best rate of return on your investment. Yes a kitchen renovation can easily be one of the most expensive renovation projects you can take on, but it is also easily the one that will give you the best value for your money. When it comes to modern kitchens the sky is the limit in terms of options, but a team like Hammerdown can help guide you through all the possibilities and keep the options on budget while maintaining that high investment return. Now more than ever people are wanting larger and more open kitchen spaces. Most homes have the potential for a much larger space by opening up walls and efficient use of space and cabinet design. Not only is a kitchen the best way to add value to your home, but it is also the best way to find new enjoyment in your home. There is a reason that at social gatherings people gravitate towards the kitchen. With a beautiful kitchen design this will be more true than ever before.

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