BEST RENOS: Rooms to Renovate Before the Sale

The home improvement market in Canada has grown at a phenomenal rate over the last few years. The number of Canadians who have made improvements to their homes has grown 14% since 2001*. In more recent years, the booming home re-sale market in Canada has made a sizeable impact on the home improvement industry, with renovations accounting for over 40% of all residential construction in 2005*.

Before you decide to put that For Sale sign on your front yard, consider whether you want to sell your home “as is” or in mint condition. While it’s not necessary to renovate your entire house, upgrading a few key areas can improve the marketability of your home, increase its value and help to sell it quickly.

Here are the top areas in your home where you’re most likely to see an acceptable return on your renovation dollar when it comes time to sell:

First Impressions: The Exterior
The exterior of your house is, of course, what potential buyers will first notice. A home’s roof represents 30% of what is visible on the exterior, so a roof in good condition can be a big selling point, especially on an older home. Black topping a faded driveway will also work wonders to increase your home's curb appeal.

Bathroom Renos
Consumer reports show that homeowners can expect to see an 85% return on the cost of renovating a bathroom, making it the most important area of your home to upgrade prior to selling.

If your budget allows, consider upping the wow factor of your home's bathrooms with luxury items such as marble counters or flooring and high-end showerheads. Remove fixtures, mirrors and lighting that feel outdated and replace them with ones that bring a calming elegance to the space. Replace coloured sinks, tubs or toilets with white models. Create a spa-like feeling in the space by sticking to neutral colours for wall paint and accessories. Replace overhead globe or fluorescent lighting with wall sconces on each side of the vanity mirror to create a flattering lighting scheme.

Kitchen Improvements
According to PMB 2005 statistics, Canadians last year spent the largest portion of their renovating dollar on cabinetry. Indeed, adequate cabinet storage is an essential part of a well-functioning kitchen and provides the basis for its overall style, whether contemporary, country or modern. Trendy finishes and cheap materials turn off potential buyers so opt for quality materials for cabinetry, hinges and sliders. Be sure that cabinet doors don’t catch and drawers pull out smoothly and feel solid.

Avoid countertop tiles applied with grout which could need repairs and may appear grungy in a couple of years. Replace worn countertops with a low-maintenance, non-porous material such as granite, Corian or stone composite in a neutral colour to add a contemporary shine to the space and give it that luxe appearance potential buyers will be looking for.

Although you don’t need to install all the bells and whistles of a cook’s kitchen, replacing older appliances with the best models you can afford will significantly increase the attractiveness of your home. Stainless steel appliances, though trendy, are viewed as high-maintenance so opt for versatile white instead.

Flooring and Walls
Before putting your house up for sale, deal with replacing worn carpet or flooring to increase the hassle-free quotient your home has to offer. Replacing outdated wall-to-wall carpeting with hardwood flooring or laminate will make your home feel larger while adding a sophisticated elegance. Be sure to avoid dark or exotic woods — a light to mid-tone oak or maple suits most tastes.

Applying a fresh coat of paint to your home is one of the most easy and cost-effective ways of improving its overall appearance. Stay away from trendy or bold colours — stick to soft neutrals instead. The idea is to create a fresh, pristine backdrop which potential buyers can see themselves and their possessions in — and that they won’t perceive as needing an update anytime soon.

Seek Professional Help
Be sure to speak to a local real estate agent or appraiser about making renovations to your home prior to putting it up for sale. These professionals can offer helpful advice on types of improvements that will add value to a home in general and to a home in your neighbourhood in particular.

(*stats according to PMB).