The Best "ROI" Renovations

The Best "ROI" Renovations

The best renovations that have the best Return on Investment are often the ones that are updates, not only do they get to enjoy a nicer space, but they also see a solid return if they decide to sell. Here are some of the top renovation projects that typically give the most bang for the buck in Toronto’s competitive market.

1. Kitchen Upgrades

Kitchens are a huge deal for buyers. A well-designed kitchen remodel can return 75-100% of its cost, depending on the quality of the upgrades. In the GTA, homeowners see the best return when they focus on popular features like quartz or granite countertops, sleek stainless-steel appliances, and an open-concept layout. Even smaller upgrades, like new cabinet doors, modern lighting, and fresh paint, can make a big difference without breaking the bank.

2. Bathroom Makeovers

Bathrooms are also high on the list when it comes to boosting home value. A bathroom renovation typically gives a 70-80% ROI. Simple changes like updated tile, fresh fixtures, and improved lighting can make a bathroom feel brand new. Adding a second bathroom or converting a closet or small space into a powder room can make a big impact, especially in homes where space is tight. Luxe touches, like a rainfall showerhead, a stand-alone tub, or a heated floor, can also make a bathroom feel high-end.

3. Finishing the Basement

With space at a premium in the GTA, finished basements are super popular. A basement reno can have an ROI of 70-75%, and the extra living area is a big draw for buyers, especially families or people looking for potential rental income. Common basement upgrades include adding a bathroom, creating a family room, or even building a rental suite with its own entrance. Plus, doing things like adding insulation and waterproofing can help make the space, and the house in general, more comfortable all year round.

4. Outdoor Improvements

First impressions matter, and a well-maintained outdoor area can make a home feel more appealing. Projects like adding a deck or patio, upgrading the driveway, or planting native plants give a great return—often 60-80% of the cost. Simple updates like fresh paint, new lighting, or a quality fence can boost curb appeal without costing too much. In any place where outdoor living space is highly valued, these upgrades can make a home more inviting and give you more living space.

5. Energy-Efficient Updates

Energy-efficient homes are in high demand, especially as people look to save on utility bills. Projects like adding energy-efficient windows, better insulation, or ENERGY STAR-rated appliances can give a 60-80% return. In some cases, even solar panels can be worth it for the added value and savings on energy. Plus, energy-efficient features make homes more attractive to eco-conscious buyers and can even speed up the sale and will help you feel a little better about updating a working appliance.

6. New Flooring

Updated flooring is a simple way to give a home a fresh, modern feel. Hardwood or high-quality engineered flooring is particularly appealing and often yields a 50-75% ROI. Add in that with every new hard surface floor requires new updated trims to go along with them and you can have a totally different look.  New floors and trims can really brighten up a space, making it feel newer and more cohesive.  

Wrapping It Up

When it comes to value-boosting renovations, homeowners get the most out of kitchen and bathroom remodels, basement finishing, outdoor improvements, energy-efficient upgrades, and new flooring. These updates not only make the home more enjoyable to live in but will also help it sell faster and for more when you're ready to sell. And if your going to do it anyway when its time to sell then why not do it sooner and get some time to enjoy it all.

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