Abbotsford Home Renovations
9 Home Renovation Ideas for Improved Home Resale Value
Complete home renovation can bring joy, but not all updates increase your home value. Big projects like a new kitchen or bathroom can be costly. Before diving in, you must know what return you can expect. Understand how much the renovation will add to your home's value and asking price when it's time to sell or refinance.
Let us explore the top home renovations for resale by home renovation companies in Abbotsford.
Home renovation contractors share essential information on costs and benefits to help you make informed decisions.
Check Out the Best Home Upgrades for 2024
Every year, Remodeling, a respected source, looks at the costs and values of major home projects. The latest report, "2023 Cost vs. Value," compares the average expenses of 22 remodelling projects in 150 U.S. markets. Five give back 100% or more in return on investment (ROI).
The report highlights the top projects that give the highest ROI nationwide. So, if you plan to sell your home, these renovations should be at the top. And they're not just for selling – they're great for boosting your home's value, like increasing equity and making it more enjoyable.
Home Renovations To Look Out For
Discover the best home improvements of 2024 and learn how to get the most value when you sell. These renovations boost your home's worth; some are simple and affordable – perfect for a weekend project.
1. Bathroom Upgrades
Bathroom design plays an important role in buyer decision-making. Upgrading fixtures and tiles and adding modern amenities can elevate your home's appeal. Additionally, consider energy-efficient lighting and water-saving features to attract eco-conscious buyers.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Minor Bathroom Remodel | 14101.50 CAD | 14370.10 CAD | 102% |
Here's a breakdown of the costs and returns for a minor bathroom renovation:
- Cost: Replace tub, tile surround, floor, toilet, sink, vanity, and fixtures for approximately 14101.50 CAD.
- Return at Resale: You can expect an average return of 14370.10 CAD, achieving a recoup rate of 102%.
Pro tips:
- Easily re-caulk the tub using a softener.
- If your tub is too large to fit out the door, give it a like-new finish with re-glazing.
- Refresh the bathroom by removing dated wall coverings and applying a fresh coat of paint.
- Use a spray-on texture for quick coverage of bathroom renovations for damaged walls.
- Enhance the sense of space by replacing or removing old shower doors.
2. Minor Kitchen Renovation
Upgrade your kitchen for enjoyment and resale with a minor remodel.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Minor Kitchen Remodel | 35978.97 CAD | 30839.31 CAD | 85.7% |
A minor remodel focuses on a 200 sq ft kitchen with 30 linear feet of countertops and cabinets.
The changes involve:
- Replacing appliances with energy-efficient models.
- Refacing cabinets with shaker-style panels.
- Installing new countertops or a sink.
- Replacing hardware.
- Adding new flooring.
- Repainting walls.
While mainly cosmetic, these changes allow you to recoup up to 85.7% of your investment. Interestingly, keeping the project modest often yields better returns, as major kitchen remodels with significant layout changes return much less at 41.8%.
3. Heating, Ventilation, and Air Conditioning Integration
Consider the HVAC conversion, a newcomer to the list with impressive returns.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| HVAC Conversion | 23834.22 CAD | 24665.54 CAD | 103.5% |
Shifting a fossil-fuel-burning furnace to an electric heat pump and installing new lines and wall units might not be the flashiest renovation, but it's trendy. Reflecting the growing interest in renewable-sourced, eco-friendly, and energy-efficient HVAC systems, this conversion is a bit pricey, averaging 23834.22 CAD for a 2,000-square-foot home. However, the return on investment is outstanding at over 100 percent.
4. Garage Door Replacement
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Garage Door Replacement | 5777.59 CAD | 5933.37 CAD | 102.7% |
Investing in a good-looking garage door pays off. The estimate of the renovation process includes removing and disposing of a 16-by-seven-foot garage door and replacing it with a four-section door featuring heavy-duty galvanized steel tracks.
This home renovation project assumes you're reusing the existing motorized garage door opener. The result? A curb appeal enhancer that can potentially get you back more than you spent when it's time to sell.
5. Entry Door Replacement
Upgrade your home's entrance with an entry door replacement—affordable and rewarding.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Entry Door Replacement | 2973.40 CAD | 3001.61 CAD | 102.9% |
Exterior projects offer a better return, and replacing the front door, especially with steel, is a smart choice. This year, it boasts nearly a 101 percent ROI, up from 64 percent in 2022.
Why? Steel doors enhance curb appeal and improve energy efficiency by fitting tightly into door frames, reducing drafts, and lowering heating and cooling bills. Despite sounding sturdy, steel doors come in various styles and finishes, including windows. They are a practical and stylish investment for your home.
6. Siding
Revitalize your home's exterior with new siding—choose from fibre-cement or vinyl options.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Siding Replacement Fibre-cement | 26001.82 CAD | 23004.25 CAD | 88.5% |
| Siding Replacement Vinyl | 21955.36 CAD | 20796.35 CAD | 94.7% |
Don't let old or worn-out siding diminish your home's charm. Consider replacing it with either fibre-cement or vinyl for a fresh look. For a 1,250-square-foot area, fibre-cement siding costs 26001.82 CAD, with a resale value of 23004.25 CAD, recouping 88.5% of the cost.
On the other hand, vinyl siding, slightly more budget-friendly, has an average cost of 21955.36 CAD and a resale value of 20796.35 CAD, recouping 94.7% of the investment.
7. Vinyl and Wood Window Replacement
Upgrade your home's eyes with window replacement—choose from vinyl or wood options.
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Window Replacement Vinyl | 26982.21 CAD | 18487.74 CAD | 68.5% |
| Window Replacement Wood | 32736.97 CAD | 20026.82 CAD | 61.2% |
You can recoup just over two-thirds of the cost for vinyl windows, averaging $20,091 for 10 windows. Opt for low-E, simulated, divided-light vinyl windows with a custom-colour exterior finish to maximize energy efficiency.
On the other hand, if you prefer the warmth of wood frames, the average cost rises to $24,376, with a slightly lower return of 61.2%.
8. Deck Additions
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Deck Additions | 13.43 - 40.29 CAD | Varies | Varies |
Create an appealing outdoor living space with a deck addition. Whether for work, entertainment, or relaxation, a finished outdoor area is a top wish for many homebuyers. Depending on materials, costs range from 13.43 to 40.29 CAD per square foot.
While classic wood decks offer a good return of about half the cost, composite decks, though more expensive to install, provide exceptional durability.
9. Hardwood Floors
| Home Improvement Project | Average Cost | Average Return at Resale | Recoup Rate |
|---|---|---|---|
| Hardwood Floors | 8.06 - 24.17 CAD | Varies | Varies |
Although hardwood is among the more expensive flooring materials, averaging $6 to $18 per square foot, it's a long-lasting investment. Installing hardwood floors recovers 118% of the project cost. Refinishing hardwood floors, giving them a facelift through sanding and restaining, returns an impressive 147 percent of its cost.
Partner with A Reliable Home Renovation Company
Investing in these top home renovations for resale in Abbotsford can significantly increase your home's market value and appeal to potential buyers. With strategic improvements, you can make your home stand out and achieve a higher resale value in the competitive Abbotsford real estate market.
Build your home improvement projects with confidence and a more modest budget. Partner with Abbotsford's trusted home renovation contractors. Abbotsford Home Renovations is committed to turning your vision into reality by delivering customized home renovation services. Elevate your living space with quality construction services. Contact us today to start your home transformation project.