At a recent Home & Garden Show in Western Canada the focus was on the 3 Rs – Renovate – Rejuvenate – Revitalize to get your property ready for selling, or to live better in your existing home before you sell.
And the 3 Best Renovation ROIs for selling:
1) If you install a fireplace you will get 94% of the money you spent back!
2) If you renovate your bathroom you will get 69% of the money you spent back!
3) If you renovate your kitchen you will get 79% of the money you spent back!
While most home staging studies (such as National Home Improvements Survey conducted Home Gain) will concur with this, if you are making a big investment it’s a good idea to make other big investments in your home as well. For example if you are renovating your bathroom, you most likely will have to do your kitchen, and if you do your kitchen take a look at your flooring and while you are at it do the walls need a new updated colour? Keep the level of renovations or home improvements equal so that the entire house looks like it works together…otherwise some good home improvements might be better than renovations!