Many Canadians who are not in the market to sell are opting to renovate their homes instead. If you are thinking about a renovation this year, consider these suggestions from two of our local real estate experts to help you get the most bang for your buck while increasing your home’s value.
Reisha Dass from RE/MAX Real Estate Centre described many of today’s homeowners as focused on comfort and maximizing space. This shift is not surprising considering the amount of time we are now spending at home. “We try to do it all from home now,” Reisha explains. “Work, schooling, exercise and relaxation are all done in our homes.” Under normal circumstances, the ongoing favourite renovations have been kitchens and bathrooms. But as Lynn Fee of The Lynn Fee Team at Keller Williams Complete Realty Inc. explains, these days, it’s about creating space, indoors and outdoors. Lynn also points out the current supply problem for materials, like lumber. “Some contractors are also booked into next year, so this might be the year for DIY projects. A YouTube video and a little imagination can help you create a big impact.”
Fix the Simple Things
On the small-scale end of the spectrum, you can do inexpensive renovations to update your home to enjoy now or if you are planning to list soon. “The big theme is space,” says Lynn. “Start by purging the clutter and removing furniture that does not serve a clear purpose.” A fresh coat of paint is always a great way to freshen a room and remove any scuff marks or holes in the drywall. New fixtures, window coverings and replacing outdated hardware is another easy way to update your space.
Flooring
Consistently laid flooring throughout the home with smooth transitions is the way to go. Engineered hardwood is a popular choice, and many people can install it themselves by watching a video created by a professional. “Big, bold tiles are in this year,” says Reisha. “Plus, adding some punches of colour in the right places throughout the house is a great way to make your home fun and exciting.”
Kitchens & Bathrooms
“There’s nothing like gleaming new countertops and updated cabinetry and sinks,” says Lynn. “But, if a big project isn’t in the budget this year, consider repainting existing cabinets.” You can quickly obtain the appropriate paint and primer at a knowledgeable paint store to do this yourself or hire a handyperson who has experience.
Outdoor Living
As we continue to search for additional living space, moving outside in summer is a natural choice. With a covered area or gazebo, you can add a TV, built-in fireplace and even a bar. Hardscape features such as a stone wall, lawn ornaments, or a water feature give your outdoor living space a spectacular upgrade. Consider extending your patio to add seating space and look at ways to add shade. With so many of us spending time at home, the ability to spread out, even in a small backyard, is a bonus. “Outdoor lighting also adds a dramatic change to your home and creates a space you can use well into the evening,” adds Lynn. While inground pools have been a popular option since the onset of the pandemic, pool companies now have a waiting list of one to two years.
Basement Renovations and Rental Apartments
As always, basement renovations continue to be a popular home renovation. They not only increase your living space but can also be used as an office, rec room, classroom or basement apartment. “You may have elderly parents or adult children moving in with you or need the additional income,” explains Reisha. “Many homeowners are getting more creative about where to create this extra living space such as a loft over the garage.”
