Looking to get more value out of your home? Are you selling your home soon or just want to make sure your home renovation project will provide a good ROI?
When it comes to home renovation projects, some will provide a good ROI and make a sound investment, while others will not and will be purely for your own happiness.
The best case scenario is to do renovation projects that provide both happiness to you as a homeowner as well as a sound investment for your pocketbook.
So what projects should you take on? Some of the best ROI projects will add additional living space to your home using your existing living space. Justin York, owner of York Construction, a home renovation company in Toronto says that in hot real estate markets creating additional living spaces in your existing home provide a good ROI. Converting attics and basements into bedrooms and family room provide a good ROI as well as adding a second kitchen or in-law suite in your existing home.
Low budget cosmetic upgrades like painting the interior/exterior of your home can also provide a good ROI as people make snap decisions on buying a home based on how it looks and how well it is kept.
Check out the infographic below to get some additional ideas on how to get the best bang for your buck on your next home renovation project.